If you have a solid business plan and want to launch your own company, it is essential to develop a marketing strategy to promote your brand and grow your company.

An effective marketing strategy utilizes multiple tactics to create a campaign that appeals to your target audience. With the rapid expansion of technology, social media has become an important marketing tool that can have a tremendous impact on how you market your company.

Social media impacts marketing

Here are eight ways you can use social media to help you build the best business possible.

1. Create a Loyal Customer Base

If you want your business to grow, you need to develop a solid base of loyal returning customers in addition to drawing in new ones. An effective social media presence allows customers to engage with your company and your brand, making it more likely that they will return for future purchases. Not only does social media promote your business by advertising it, but it also helps customers remember why they enjoyed your service or product and provides them with a platform to engage directly with your company.

2. Engage With Potential Customers To Encourage Conversions

The purpose of a social media marketing campaign is to promote your business so customers want to purchase your services or products. The percentage of customers who are directed to your website and make purchases is called the conversion rate, and your goal is to get the highest conversion rate possible.

Many successful CEOs and marketing officers, such as Chipotle’s Mark Crumpacker, use engaging, emotion-provoking advertisements to encourage customers to make a purchase and increase their company’s conversion rate. Other effective strategies include offering giveaways, contests and discounts or including a strong call to action into every social media post.

3. Increase Traffic to Company Website

Unless a potential customer is specifically searching online for your company website, he or she will likely not stumble upon it by accident. You want to increase the amount of traffic to your website, so you could place ads strategically on other sites to increase visibility.

You could also launch a social media campaign. Because many people use multiple social media platforms on a daily basis, increasing your social media visibility allows you to reach more people and direct them to your website, effectively increasing traffic and promoting your brand.

4. Target a Specific Audience

With social media marketing, you can develop targeted strategies that appeal to specific audiences. If your business sells makeup, your target audience is women. Likewise, if your company specializes in power tools, your target audience is most likely men.

By determining which audience your product or service is most appealing to, you can create a strategy that will draw that audience is.

Nike swoosh logo on a sweater

5. Develop a Recognizable Brand

The backbone of any business is good branding. Your company values, logos and products all work together to create a comprehensive brand that appeals to customers, so it is essential to make sure that your brand is reflected accurately with your social media marketing campaigns.

When your brand is effectively represented, customers understand what your business is about and they are more likely to become loyal supporters of your company and brand.

6. Establish Your Brand’s Authority

Not only do you want to develop a good brand to serve as the backbone of your company, but you also need to establish it as an authority in the industry. Customers must understand why your product or service is better than its competitors so they can make an informed decision to purchase it.

One way to establish authority via social media is by creating original content that reflects your company’s values, knowledge and expertise on the subject. This can include any or a combination of the content types listed below.

  • Videos
  • Reviews
  • Infographics
  • Informative copy
  • Diagrams

7. Keep Up With Competitors

To remain a major competitor in your company’s industry, you should keep an eye on your rivals to see how they are growing their own businesses. By understanding how your competitors are using social media content to appeal to potential customers, you can discover what types of content your audience enjoys the most.

Staying current on content and social media trends can help you reach more customers and stay competitive so your company can grow.

8. Improve Search Engine Ranking

Every business wants a good search engine ranking because it drives traffic to the company website. While having a social media presence alone increases website traffic, it also improves your ranking so other potential customers can find your company. The more of an online presence your business has, the higher it will rank.

Takeaway

Because there are so many facets to social media, it may seem daunting to use multiple platforms to build your business. However, establishing a solid social media presence is an excellent way to promote your company and encourage customers to buy your services and products. This one simple strategy allows you to accomplish eight crucial marketing steps so you can effectively grow your business.