If you’re a business owner who hasn’t yet considered implementing social media as a major component of your company’s growth strategy, it’s time to join the masses.

The primary goal of a business owner or management team should be to plan and strategize ways to ensure your company’s efficiency and expansion. Some examples of things to target for growth may include your customer base, transaction size and purchasing frequency. As technology continues to advance, so does the need and importance of social media in this facet of your business. Here are a few ways you can utilize social media as an accelerated growth tool for your company.

Branding 

Brand identity is crucial for a business. One of the most important ways these days to establish your brand is to focus and build on its online recognition. Creating branded content helps connect your customers or future customers to your company’s message and the value of services or products offered.

Reputation Management 

The creditability and reputation of a company are some of the main reasons why a customer will consider or remain loyal to using a company’s product or service. One of the most practical ways to show positive experiences as well as monitor online reviews, both good and bad, is through engagement directly to the consumer. Use positive testimonials on social media as a promotional tool to magnify the value your company holds on customer service and product standards.

I recommend that a company maintains a high level of customer service by providing access to a team of representatives in a direct chat option, preventing any potential issues from escalating. Any negative comments on posts can be responded to and resolved in real-time as well. This in turn helps place the customer’s needs as a priority. Take advantage of the direct access to customers that social media gives your company and take control of how the customer experiences your brand as a way to maintain stability to your reputation.

Maximize Audience Reach

Before social media, the traditional marketing and advertising options were limited to television commercials, magazines, catalogs, emails, newspapers, etc. While understandably, it’s impossible to reach everyone through any channel of marketing, social media has completely changed the narrative. It provides an opportunity to reach a unique audience that matches well with your service or product offered.

Social media analytics can be used to narrow down your audiences’ demographics, what products or services they consume most and where they are most active on your posts. Furthermore, this heightened specificity allows your company to focus on engagement, reach, click-throughs and organic impressions. Once analyzed in detail, use this data to prepare ad campaigns that more effectively maximize your audience reach.

Networking Opportunities

Networking on social media has become one of the most cost-efficient ways to expand your business online. From Facebook groups, online webinars or events expressly aimed at cross-promoting with like-minded and relevant companies to your industry, social media has opened up lanes to connect with people all over the world with the click of a button or tap on the screen. Through channels of networking, you can appear on someone’s podcast, get featured as a story on a company’s blog or create a cross-promotional giveaway or contest through branded partnerships. By collaborating with other brands and influencers via social media, doors can open to expand your company.

All in all, social media helps diversify a company’s potential. It can assist in building a rapport with your current and future audience, boost your sales and ultimately improve your overall brand visibility. Social media, if implemented into a business’ growth strategy, can amplify possibility, connection and opportunity.