7 Reasons Why Social Media Can Help You Increase Revenue

Tyler AbbottTyler Abbott | December 29, 2015

7_Reasons_Why_Social_Media_Can_Help_You_Increase_Revenue.jpg.jpgHave you banned your employees from using social media at the office? If you have, you’re doing your company a disservice. Used as a business tool, social media can actually increase revenue, and it should be used as part of your online marketing plan. Here are seven reasons why.

1. Build Brand Awareness

Small and medium-sized businesses in particular can greatly benefit from better brand awareness and recognition. It’s certainly difficult, if not virtually impossible, to get new customers when no one has heard of your company. Consumers and buyers looking for products or services just like yours won’t think about buying from you because they have no idea who you are.

Social media marketing can help you to spread the word about your company. Creating business pages on sites like Facebook, Twitter, and LinkedIn can help you to become a familiar face in the industry, help people remember your logo, and help create top-of-mind awareness, so you can gain new customers and increase revenue.

2. Generate Leads for Your Website

The vast majority of consumers—78%—rely on their social platforms to guide their purchasing decisions. By being on the same sites as your audience at the right time, you can be there, front and center, during the research stage of the sales cycle, so you can guide users to your website. Use your social profiles to generate interest and excitement so they’ll head to your website to learn more about you and what you offer.

3. Increase Trust and Credibility

Trust and credibility are incredibly important to consumers. They won’t buy from your company if they aren’t familiar with you and aren’t sure if they are making the right choice by buying from you. They won’t risk it. By contributing relevant, informational content, answering questions, sharing testimonials, and sharing interesting blog entries, you can position yourself as a subject matter expert—a thought leader in the industry. By establishing yourself as a trustworthy resource, you can add credibility to your brand and remove doubt and hesitation.

4. Create Genuine Engagement

Consumers will feel closer to you when you create genuine engagement. Sharing stories, promoting deals, having genuine conversations, being helpful and answering questions, and asking for personal stories and insights from your followers on social media can evoke positive emotions towards your brand. These types of engagements can lead to new customers and turn one-time customers into loyal and long-term brand ambassadors.

5. Prioritize Customer Service

You know how critically important customer service is in business. And being active on social media can help you to become a leader in customer service. It can allow you to have real-time access to customer complaints and questions so you can respond immediately and provide rapid resolution. Sharing and commenting on both positive and negative reviews can also help your customers and the public see how much you care about their needs.

6. Improve SEO

Using social media can help with your SEO efforts. The more active you are, the better your ranking will be on search engines like Google, Yahoo, and Bing. The more authority you present, the more you like and share, and the more you interact with other users, the more prominently you’ll show up for relevant search terms. And the higher up you are, the more leads you’ll receive to your website, who can then be turned into customers. Improving your SEO efforts can have a really positive effect on your bottom line and help you to increase revenue.

7. Turn One-Time Customers into Repeat Customers

You need to continue to delight customers after you’ve closed the sale. And social media allows you to continue to interact with and engage with existing customers. It can also help you increase revenue by allowing you to share new and different products to these customers, so you can entice them and turn them into repeat customers.

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Tyler Abbott

Tyler is the Social Media Manager at SalesHub. He has over 3 years of experiential marketing experience which he applies creatively to social media campaigns. He is Hubspot Certified & Inbound Certified. Tyler likes to stay active at the golf course, gym or hockey arena. If you can't find him there, he is most likely eating something doused in hot sauce watching his Toronto Maple Leafs make a run for the playoffs.

 
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