In this article, Pirathipa Uruthirasingham discusses the importance of social media in business communication.
Businesses must communicate with their customers to increase brand awareness, sales, and to inform the companies mission better. From current research conducted by Campaign monitor, business communication via emails is not as effective as expected; in 2018 email average open rate was only 17.92 %.
In 2019, social media users have increased to 3,484 billion global individuals, which is a 9% growth since 2018. I believe that to understand better your customers wants and needs, it is crucial to pursue an in-depth investigation. Having the background information about your customer problems helps you target what will engage them with relevant details to develop or offer an appropriate solution. Without prior knowledge of your client, it is more challenging to adopt an efficient solution.
It is critical to understand if, when and how your customers use social media as their communication channel. Because social media is impacting all business interactions, analytics technology can reveal how many times your customers research the internet as well as what they are searching for. In 2019, the amount of data channelled through social media has increased since 2014.
In businesses communication, social media represents lower costs and a higher return on investment, and the global rate of penetration accounts is 45%. Businesses must use these digital marketing methods to not only find new customers and increase sales but to continue to nurture existing customer relationships.
4 Ways to Promote Your Customer Relationships With Social Media
- Engage Your Customers
86% of business to business customers use social media daily. Social media not only helps to maintain your existing customer relationships but also introduces more customers to your company. Social media is a better way to communicate with customers quickly at a lower cost. For 1000 people the price is less than US$3 compared to other forms of advertising media available. As a communication channel, social media is useful in creating a buzz around your campaign.
- Find Your Customers
With so many of your potential and existing customers online, it is an opportunity to target business customers more efficiently. You must identify which social media platform your most valued customers use and then find more of them on this platform.
The advertisements and promotions through common platforms such as Facebook, LinkedIn and Twitter have helped enhanced brands to create awareness and attract more like customers.
Social selling has become a modern way for business sellers to connect with prospective customers and nurture relationships with customers through social media channels.
- Build Customer Relationships
Social media enables businesses to develop close relationships with your customers and build trust. It is only a button away to communicate with another social media user. Social media is easy to access, as it has a low barrier to entry. 40% of customers who are active on social media will contact your company directly.
It is an efficient way to improve engagement and customer experience. Companies must reply to customer enquiries quickly to answer any of their questions posted on social media.
Social media help companies listen in on their customer conversations who discuss their concerns freely, this allows companies to understand their customer demands and expectations.
- Reach More Customers With Open Communication
Social media platforms facilitate informal open communication, which is not always considered appropriate on the company websites or through traditional corporate communications.
The most-watched contents on the Internet by the users are videos, with 74% of business customers engaging in this type of content. The leading platforms which post videos Facebook (81.2%), YouTube (62.9%) and Instagram (57.8%). There are many creative means of communicating with the customer through digital marketing such as infographics, mêmes, gifs, polls and surveys.
Excellent communication is the key to successful customer relationships. Social media enables your company to build social relationships with your potential and existing customers. If you have done your research on what engages your most valued customer, with the knowledge you share, it is likely that your customers will engage directly with your brand. Regardless of the cost benefits that social media provides your business, it is one of the most productive ways to conduct an exchange of information and drives conversations and transactions. Social media is an essential ingredient for all businesses looking to succeed in their customer engagement and communication!