Why Is Social Media Important?

By Nick Nanton, Esq.

Why should you care about social media?  It may be fun, it may be something your kids are into—but as a business owner, why should you care?  The short answer is simple—an effective social media presence will help you make more money.  Today I am going to tell you how it will make you money.

But first, I need to dispel a common myth which states that “social media is just another fad… it will be gone in five years.”

The truth is that social media is not a new invention.  It may be a new technological innovation, but it taps into an ancient human impulse.  Humans love to talk.  We love to see what our friends and family members are up to.  We love to connect.  And that is what social media is all about—connecting. Twitter, Facebook, LinkedIn, and YouTube may be new mediums, but they are simply the 21st century tool for accomplishing an essential human function.

Social media is here to stay—and that is good news for business owners.  Here is why:

1) An effective social media presence can create brand awareness… at very little cost. Your social media presence allows you to connect with billions of potential customers across the globe.  It allows you the opportunity to reach your audience in an environment where they have mostly let their guard down.  We are so used to being bombarded by commercials on the radio and on TV that many of us subconsciously tune them out.  While social media is certainly going to see a dramatic increase in advertising over the next decade, as of now its advertising potential is largely untapped. 

2) An effective social media presence allows you to create community… centered around your business. Social media platforms, particularly Facebook, are great places to form common-interest groups.  Hobby enthusiasts, sports fans, Justin Bieber fans—it won’t take you more than a few moments to find these communities on Facebook.  As you can see, this presents a golden opportunity for, for instance, the owner of an R/C shop.  By either creating or joining a community focused on remote control vehicles, he or she can create a great place for enthusiasts to connect—all the while establishing himself as the natural choice for their next purchase.

3) An effective social media presence connects you to your customers. A business that is active on social media will often interact with customers or clients several times each week.  Whether it is “liking” something they posted on Facebook or them simply reading an informative Tweet you publish on Twitter, an active social media presence keeps you on the mind of your customers.  As a doctor, for example, you typically see your patients a couple of times per year.  But if you are active on social media, you can potentially interact with them hundreds of times in that same year—keeping your practice fresh on their minds.

So there you have it—if you are not yet active on social media, now you have three great reasons to engage this growing market.  However, we have barely scratched the surface… stay tuned for more in the weeks to come!