Why Social Networking is Important in Business

The internet has changed the way we communicate with each other. And brands have to adapt accordingly or they’ll drown — period. Social networking is vital to your business. In fact, it’s non-negotiable. But why exactly is it so important, and how can you start to implement digital marketing strategies to boost your brand? Let’s dive in!

5 Reasons Why Your Business Needs Social Networking

Social networking isn’t something you do just because everyone else is. Here are a few reasons why it’s a must.

1. Social Networking Helps You Reach New Customers

Statistics tell us that one in three consumers use social media to find new brands and products. Other research says it’s more than 50%. Any way you slice it, your social networking efforts are going to make you more visible to a greater number of people.

In order for your brand to thrive, you have to meet your audience where they are — and that’s online. Better yet, you can connect with people all over the world. This is a luxury that, in the past, we weren’t afforded. Take advantage of it!

hand holding tiny globe

2. Word-of-Mouth Marketing Will Be Your Best Friend

What you say about your own brand online matters. But do you know what matters more? The things that other people are saying about your brand. Take online reviews, for instance. 90% of consumers read a review before making a purchase. 79% trust reviews as much as they’d trust a personal recommendation. And if your own product pages include customer reviews, it can increase your conversions but 3.5 times.

There are also influencers to consider. 37% of consumers say that they trust social media influencers more than brands. In particular, Gen Z and Millennials are twice as likely as Baby Boomers to trust influencers.

Use social networking not just to talk about yourself but to get other people talking about you, too.

Woman whispering into friend's ear

3. Social Networking Can Send More Traffic to Your Site

Social media is nice, but your own website is where it’s at. You own it and control it, making it even more powerful than social media. But how do you get people there?

Well, organic search through Google is one channel. However, it can take at least three months for a website to rank in the search engine. Google is only getting more saturated. As of June 2021, there were nearly two billion websites online. And every day, more than 547,000 new websites are created. Organic search and SEO definitely matter, and you need them. But they’re only one piece of the puzzle.

This is where social networking comes into play. Facebook reigns supreme, accounting for a huge chunk of all website visits. However, the specific platform you lean into the most might depend on your industry and brand. For example, some brands find massive success on Pinterest, which is also a search engine (like Google!). Some stats say that a pin is 100 times more spreadable than a tweet. Some brands use Pinterest to drive tens of thousands of visits to their site every month.

4. You Can Pay to Play Using Social Media Ads

Like Google, social networking platforms are becoming more saturated. Brands are fighting for space and attention in people’s news feeds. What’s a business to do? Run paid ads!

Look at Facebook as an example. Their potential reach through advertising is 2.11 billion people. The average ROI is 152%, the average conversion rate is 1.85%, and it accounts for 85% of social media orders.

Is it easy to run Facebook ads? No. If it was easy, we’d all be rich. However, there’s a reason why some brands are pouring five and six figures a month into ads. Find a digital marketing agency that knows what they’re doing and they’ll use ads to contribute to your brand’s bottom line.

5. Stop, Collaborate, and Listen!

Back in the day (man, that makes us feel old), you could only combine forces with people in your immediate area. What a snooze-fest. These days, a dog food brand in Paris can connect with a pet spa in Las Vegas for a virtual collaboration that reaches the masses. That’s the magic of social networking.

dog wearing unicorn costume

How to Make Social Networking Work for Your Brand

We could be here all day talking about this. Instead, we’re going to leave you with some of the most important things to remember.

Focus on the Priorities

Paralysis by analysis: It happens when you give people so many options that they end up choosing nothing. When it comes to your social networking efforts, identify your priorities and put more energy into those specifically. If that dog food brand in Paris offers about 20 different products, but seven of those products significantly outsell the others, that tells them something important.

Remove Friction and Make it Easy on Your Audience

If you’re running a Facebook ad with the direct goal of selling products, you need to make it as easy as possible for users to do this. Aim to require as few clicks as possible before a purchase is complete.

Leverage Overlapping Audiences

When you partner with another brand for some sort of collaboration, there’s one key thing to remember: You need some sort of overlap in your audiences. The dog food brand and pet spa aren’t the same business. However, their two individual audiences have a lot in common.

When it comes to your social networking strategies, do you have a lot of work to do? Yup! Here’s the good news: You don’t have to do it alone. Book your free consultation with LSM and let’s talk about your goals.