If you agree that the world is more connected than it was a few decades ago. Then bet you would win tons of money with your million dollar answer, the world is virtually connected on social networks. Strangely, though, the discovery has been gathering dust for a few years now; that businesses almost forgot the relevance of inhabiting social media sites. The discussion still rages on, however, on the significance of social media sites. Plainly, some entrepreneurs have been fortunate enough with social media while others can’t seem to get it right. Of course, you and I know that mounting a social media onslaught is not rocket science. But how comes the statistics don’t favor the larger population?  Let’s explore the top reasons why is social media important for business.

1. Affordable way to market your business.

When it comes to monetary investment for a business, social media is the most affordable way to generate quick revenue. They will give you a highly economical way to reach out the target consumers and increase brand awareness. So, any business tying its belts for marketing, social media is an affordable yet powerful option to thrive on. With a little budget, you cannot only build brand recognition but can enjoy the lucrative benefits in terms of: increased traffic, leads and ROI.

2. Allows you to go where the people are.

The three top social networks, Facebook, Youtube and Instagram, have over 3 billion monthly active users combined. That’s almost half of the entire earth’s population! Of course, your audience isn’t that large. But chances are that most of your audience is active on one or more of the major social networks. What’s the best way to get your business on people’s radars? Go where the people are and develop a presence and that place is social media!

3. Social media marketing helps to validate your brand.

A company’s social media presence, when done correctly, tells consumers that their brand is active and focused on thriving communication with consumers. 63% of consumers who search for businesses online are more likely to use ones with an informative social media presence.

4. Increased Brand Recognition.

Every opportunity you have to syndicate your content and increase your visibility is valuable. Your social media networks are just new channels for your brand’s voice and content. This is important because it simultaneously makes you easier and more accessible for new customers, and makes you more familiar and recognizable for existing customers. For example, a frequent Twitter user could hear about your company for the first time only after stumbling upon it in a newsfeed. Or, an otherwise apathetic customer might become better acquainted with your brand after seeing your presence on multiple networks.

5. Creating a loyal following.

Social media isn’t yet viewed as a marketing tool to most people. Your audience is more likely to be receptive to hearing about your business because they don’t view your post as an ad. People like being able to connect with others and by showing off your personality, you are putting a face to your brand.

Simply put, social media marketing is part of doing business in the new millennium. If your business isn’t already active on social networking sites, now is the time to start.