Social media is the next big thing in the marketing industry. It is now looked at by the entrepreneurs as not just a choice of whether to do it or not but how well to do it. Today’s customers are spending a lot of time on social media. Be it Linkedin, Twitter, Pinterest or the dominant Facebook; customers are present everywhere.

As of 2015, Facebook has 1.44 billion monthly active users worldwide. If these are the numbers of users present on social media, then clearly there is every possible reason for businesses to exist on these platforms.

Social media which started as a platform for the general public to voice their opinion has now become the buzzword for commercial and business success. It has a huge potential if used in the right way. Let’s look at some of the ways that how social media can improve your business:

1. Increased User Base: 70% of internet users are active on social media. It gives an opportunity to the companies to tap the untapped customers. Every post, every campaign on social media can attract new customers, hence increasing the user base.

2. Brand Recognition: Social media increases your brand visibility. Every new content or post acts as the brand’s voice. The more you post, and the more interesting your post is, customers are likely to recognize your brand more.

3. Brand Loyalty: Customers are attracted to brands that have a better social media presence. It works as social proof for the credibility and trustworthiness of the brand. Better word of mouth on social media platforms also helps in improving brand loyalty.

4. Fighting Competition: With marketing strategies focusing on social media, it’s likely that your competition is already utilizing the social platform. Don’t let them poach your traffic. Focused social media strategies will help you fight competition and promote your brand.

5. Improved Search Engine Ranking: Search engine rankings are popularly known to be based on keywords, unique content, etc. However, the requirements are always changing. Google may be giving significant weight to social media presence for all strong brands are still present on social media.

6. Improved Customer Experience: Social media provides a channel for communication between the brand and the customers. You can enrich the experience of your customers by using this opportunity to demonstrate your level of customer service.

7. Gaining Customer Insight: Social media provides an excellent platform to gain valuable customer insight. Every comment and behavior of customer if properly analyzed can give information on what the customer wants and how they behave.

Having looked at the importance of social media marketing, it is also vital to track your social media performance. Some of the ways in which you can do this are:

1. Measuring the number of clicks (click through rates) on your link/site directed through the social media platforms.

2. The number of likes, shares, retweets on various social media platforms.

3. Your Brand mention of different social media platforms.

4. A thorough understanding of Google analytics to understand how many people visit your site, the source they were directed from and how are they using your site.

Social media marketing is here to stay. Do it right to promote your business and see the effect on overall growth. This platform presents a vast opportunity which can lead to more traffic, more customers and more conversion.