18
October 2024

Using Social Media for Your Business: Understanding Social Media

Thando Sikhosana
Staff Writer
In this article
Effectively leveraging social media can increase revenue and expand market share, especially as competitors actively engage on these platforms. Here’s a closer look at social media marketing and its benefits for your business.
Get Fresh Insights & Tools, Monthly
Business growth insights and resources straight to your inbox

Many businesses still view social media as a 'nice-to-have,' but it has become an essential communication channel. Even with a steady customer base, effectively utilizing social media can boost your revenue and expand your market share. This is crucial when you consider that your competitors are already active on social media. Ignoring this platform puts you at risk of losing reach and customers to others.

What is Social Media Marketing?

Social media marketing leverages platforms like Instagram, LinkedIn, and Facebook to engage with customers. Users turn to these channels to learn about, shop from, and enjoy various brands. These platforms are designed to help brands connect with their audience, offering tools for optimizing profiles, showcasing products, and engaging followers. Each tool is measurable and aligns with your brand objectives. Additionally, social media marketing includes paid advertising options to position your brand in front of your target audience.

What are the Benefits of Marketing on Social Media?

  • Builds Relationships: Social media allows your brand to actively participate in the market. You can customize your profile, engage personally with followers, and connect meaningfully with customers. Successful engagement leads to networking opportunities, feedback gathering, and one-on-one connections.
  • Drives Traffic: The goal is to direct users to your profile, blog, or advertisements. Increased traffic results in more chances to convert visitors into paying customers.
  • Generates Leads: Features like Instagram and Facebook shops, call-to-action buttons, and direct messaging enable you to generate leads and convert customers directly on these platforms.
  • Increases Brand Awareness: The visual nature of social media supports the creation of a strong visual presence and helps enhance brand awareness.

Key Aspects of a Successful Social Media Marketing Strategy

While strategies may vary by business, essential components of a successful social media marketing plan include:

  • Content Strategy: Although some content can be spontaneous, it's important to structure it for consistent voice and high-quality production on a regular basis.
  • Audience Knowledge: Each platform caters to a slightly different audience, so select the one that aligns best with your brand.
  • Analytics: Use back-end business tools to monitor whether you’re reaching your desired target market.
  • Regular Posting: Consistent activity is vital for a successful campaign.
  • Inbound Approach: Rather than pushing your business outward, focus on adding value with thoughtfully considered content that helps your followers. This organic promotion encourages sharing and attracts users authentically.

The Bottom Line

Embracing social media for your business is essential. If you're unsure where to start, look out for the next installments of this three-part series, “Ways To Use Social Media,” to enhance your social media strategy.

To fund your next social media marketing initiative, contact Merchant Capital to secure funding for your business within 48 hours.

Get Fresh Insights
and Tools, Monthly

Cash Advance Calculator

Use our online calculator to estimate your advance amount and repayment terms, helping you make an informed decision.

How much would you like to borrow?

R

Error message

How many months?

1
3
6
9
12

Daily repayment

R 00.00

Monthly repayment

R 00.00

Total repayment

R 00.00

These are indicative amounts only.
All offer amounts and costs are based on your monthly turnover and credit standing.