As we know, social media is far from a content sharing tool. In 2024, these platforms are as vital for business growth as just about anything else, capable of driving traffic and business growth.
Much like every other key contemporary business pillar, there are a range of tips and tricks to leverage social media, specifically the data it produces, to drive business growth.
There are many ways for businesses to harness their social media data. Especially given the large amount of data platforms provide users and businesses. These metrics provide a clear snapshot of a business’s audience and their behaviours, such as:
- User age
- User gender
- Engagement metrics
- Content consumed by an audience
- Devices used
- Active hours
Capitalising on the data provided by these metrics allows businesses to drive business growth through a number of avenues. These include:
Targeted marketing strategies
Social media’s data allows businesses and creators to gain a deeper, clearer understanding of their audience. As a result of this, they’re then able to develop and implement targeted marketing strategies aimed at leveraging their understanding of their audience.
Build reputation
A crucial component of the modern business world is reputation. A business’s reputation is everything. Social media allows a business to consistently grow and refine its reputation to a wider audience in an authentic voice.
Build community
One of the key ingredients lacking in a modern society defined by virtuality is community. Social media provides businesses with a chance to generate community through a range of different content schemes.
Behind-the-scenes content is one of the primary ways for businesses to do this. Such content gives consumers insight into the people and culture that produce their favourite products. A loyal consumer base is an engaged consumer base. Engagement more often than not leads to growth, whatever that may be.
Influencer marketing
Social media is the influencer amphitheatre. Like it or not they are the dominant player on many social media platforms. As a result of their upstanding reputation and strong community, influencers are ideally positioned to be used for product marketing, as products viewed as good enough for them will likely be viewed as good enough for their followers.
Instant product feedback
Social media is instantaneous. Everyone knows that. This reality is no different for businesses and their products. Businesses monitoring social media posts about their products or services, and reviewing comments and messages they’ve received, will allow them to refine and improve their product or service and retain customers.
Seamless consumer communication
There is perhaps no easier way for businesses to communicate directly with their customers than through social media. Platform messaging services allow businesses to respond to customer queries and concerns instantly, removing the need for customer service phone lines or email services, which can be a drain for consumers.