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Many organisations are unsure about whether online social media is an appropriate way for them to build their brand. As I mentioned in my previous blog, social media is not right for every brand and finding the right type of social media is critical to developing your brand successfully.  If you’re interested in developing your brand using interactive online ‘conversations’, then social media is right for you.

There are many benefits for using social media to develop brands online:

1. Low cost – Social media marketing is very appealing to organisations due to its low cost investment. The majority of social media sites are free to join so it only costs your time to build your brand effectively online.
2. Wide audience – Social media sites can reach a large audience, especially the major sites such as Facebook.  Social media is increasingly being used, with the majority of internet users becoming a member of a social media site. For example, Facebook now has over 200,000,000 active users (http://thefuturebuzz.com/2009/01/12/social-media-web-20-internet-numbers-stats/). Social media sites used to be associated with the student community but it has now attracted a wide range of ages with different demographics. Niche social media sites have a huge potential due to their diverse audience.
3. Loyalty – Building a strong brand community online is likely to encourage brand loyalty among members due to the relationship building advantage. Consumers often affiliate with the brand and become part of the brand so they are more likely to trust the brand and recommend the brand to others.
4. Increased traffic – By developing online relationships with social media users, they are more likely to visit your website and increase the traffic to your website.
5. Immediate – Social media has the ability to share information almost instantly so consumers are always up to date with the latest news. Social media can help monitor any negative comments online, such as by using Google Alerts, in order to quickly respond and avoid the brand’s reputation from being tarnished. Social media helps to manage the reputation of your brand online to make sure the desired image is being created.
6. Increased awareness – Due to the increased popularity and reach of social media, consumers are increasingly becoming aware of brands and are using social media as an alternative to find out more about your brand compared to traditional methods.
7. Market Research – Social media can be used as a great way for collecting market research due to its potential to monitor a large audience in one place.