When social media platforms like Facebook and Twitter first emerged in the early 2000s, one was a platform for old friends to connect, whereas the other was just a microblogging website. However, with time, various new platforms have emerged, and they are not restricted to just social interactions anymore.
Different business houses have created their social presence and are using social media to expand their business, interact with their audience, and even address customer grievances that otherwise went unheard.
Let’s take a look at how social media is affecting the business landscape in 2023 and what brands can expect from their social presence.
- Garnering Brand Loyalty
Brand loyalty, in other words, can be described as the faith of a consumer in a particular brand. Apart from the quality of your product and service, one of the most crucial factors that foster this loyalty is how you interact with your consumers.
Social media has provided a concrete platform for businesses to keep this conversation going, and the brands are also taking full advantage of this opportunity to keep their consumers engaged. Be it Facebook, Instagram Live, or Snapchat for business, businesses can now start brand loyalty campaigns across different social media platforms.
- Giving Businesses the Creative Push
With so many businesses competing for consumer attention at the same time, rolling out your regular old content doesn’t cut it anymore. In this digital age, having a strategic social media posting schedule is vital. This not only ensures consistency but also offers a chance to stand out amidst the noise. Such fierce competition is pushing brands to think outside the box and come up with content that is more relatable and unique at the same time.
Such effort from the brand’s end gives them a chance to stand apart from the crowd and sail high on the wave of viral content.
- The New e-Commerce
It is easier for renowned brands to spend heavily on their marketing and advertising campaigns. However, social media is changing this for small businesses that can’t set aside a large chunk of money for marketing. Such businesses have been creating budget-friendly content on different platforms to garner the attention of their target audience.
If you are active on any social media platform, you would have noticed small businesses with tight budgets solely rely on their social media accounts to generate sales. Such initiatives have also been helping businesses cut down on their marketing cost and generate higher profit margins.
However, it also requires them to be consistent and keep their social media calendars full. If you struggle with posting regularly and consistently, consider using tools like SocialPilot, Buffer etc. These tool lets you schedule and publish posts across different social media platforms such as Instagram, Facebook, LinkedIn, etc, helping you to create your online presence gradually.
- Grievance Redressal Platform
Most of us have, at some point, created a tweet complaining about how dissatisfied we are with a particular product or service. However, the best part about raising such issues on social handles is that they don’t go unheard of anymore.
It is not uncommon for dissatisfied customers to reach out to the brands on their social handles to register their issues. Recently, brands have become more proactive in taking note of such issues and addressing them. This not only improves their rate of customer satisfaction and retention, but many marketers believe that this is soon going to be the primary source of addressing consumer grievances.
- Omnipresence of Business
In addition to the existing social media giants, there is a plethora of social media apps that are getting launched in 2023. However, not every consumer class is present on every platform. While the older generation is more active on Facebook, Gen Z is ruling Youtube, and millennials have the reigns of Instagram.
This is why it is now important for businesses to be present on each of these platforms and several others to target different age groups. Depending on the platform, they can also change their marketing strategies and approach.
Takeaway
It isn't news anymore that social media is becoming one of the most reliable and cost-efficient marketing mediums for businesses in present times. If you look at it from a consumer's perspective, most of us rely on social media more than we rely on search engines when it comes to looking up a business. This is the strength of the impact social media has on a brand's digital presence. In 2023 and the upcoming future, this influence is going to just get stronger. Hence, there is no better time than now to leverage it.
