What is a Brand Audit?

A brand audit is a thorough examination of a brand’s current position in an industry compared to its competitors and the examination of its effectiveness. When it comes to brand auditing, five questions should be carefully examined and assessed. These five questions are how well the business’ current brand strategy is working, what are the company’s established resource strengths and weaknesses, what are its external opportunities and threats, how competitive are the business’ prices and costs, how strong is the business’ competitive position in comparison to its competitors, and what strategic issues are facing the business.

Generally, when a business is conducting a brand audit, the main goal is to uncover business’ resource strengths, deficiencies, best market opportunities, outside threats, future profitability, and its competitive standing in comparison to existing competitors. A brand audit establishes the strategic elements needed to improve brand position and competitive capabilities within the industry. Once a brand is audited, any business that ends up with a strong financial performance and market position is more likely than not to have a properly conceived and effectively executed brand strategy.

A brand audit examines whether a business’ share of the market is increasing, decreasing, or stable. It determines if the company’s margin of profit is improving, decreasing, and how much it is in comparison to the profit margin of established competitors. Additionally, a brand audit investigates trends in a business’ net profits, the return on existing investments, and its established economic value. It determines whether or not the business’ entire financial strength and credit rating is improving or getting worse. This kind of audit also assesses a business’ image and reputation with its customers. Furthermore, a brand audit seeks to determine whether or not a business is perceived as an industry leader in technology, offering product or service innovations, along with exceptional customer service, among other relevant issues that customers use to decide on a brand of preference.

A brand audit usually focuses on a business’ strengths and resource capabilities because these are the elements that enhance its competitiveness. A business’ competitive strengths can exist in several forms. Some of these forms include skilled or pertinent expertise, valuable physical assets, valuable human assets, valuable organizational assets, valuable intangible assets, competitive capabilities, achievements and attributes that position the business into a competitive advantage, and alliances or cooperative ventures.

The basic concept of a brand audit is to determine whether a business’ resource strengths are competitive assets or competitive liabilities. This type of audit seeks to ensure that a business maintains a distinctive competence that allows it to build and reinforce its competitive advantage. What’s more, a successful brand audit seeks to establish what a business capitalizes on best, its level of expertise, resource strengths, and strongest competitive capabilities, while aiming to identify a business’ position and future performance.

Using Facebook for Branding and Customer Service

Facebook is one of the best known ways of marketing a business product or brand today. Social marketing is used by businesses to enhance overall marketing strategies. First rule to remember when using Facebook for branding and customer service is knowing who your targeted audience is, and friends and family certainly fit this category. Word-of-mouth and self-promoting a particular brand on social networks like Facebook can greatly increase business profitability, while building a trusting customer service base. If you build your Facebook account only through close friends, you must remember that these people may need more prompting to invest in or purchase a product or service and become customers. This is where discussions and postings using user-friendly and non-pressuring sales tactics bring best results.

A business that sets itself up through word-of-mouth should have quality advice on a brand, including reviews and market trends. Being labeled as an expert in the brand’s niche is the objective to successfully marketing a brand through Facebook. It’s important to have answers ready about your brand concerning its quality and pricing. Using Facebook for branding and customer service means integrating knowledge and value of the brand to the masses and achieving a good return on investment.

Added pictures of the brand on a Facebook page and allowing comments, are essential in building the interest and creating a dedicated following. Prompt answering and replies about the brand will instill knowledge and brand visibility. Creation of competitive contests in how a person may use the brand or rename the brand, gives added fun and engagement to the process. A business may even offer free samples or a free product with the contest, that have participants sending in their photos using the brand. Of course, this is accomplished by always taking in the consideration of the appropriateness of the contest when using Facebook for branding and customer service. Great tool to get feedback from your prospects and customers is a survey. It will help you start profiling your business on a social networking medium.

Remember to post links to your business website. The website should download quickly and easily. Once onto the website, via Facebook, a potential customer should feel the slight change from the social medium to a more professional medium. The importance of a balance of the two cannot be stressed enough. A hard-sell business tactic on a website, as opposed to using Facebook for branding and customer service, is like having a conversation with a friend turn into a telesales marketing adventure. Although professional and straight to the point tactics are advised, slowly giving information without pushing the brand into a customer’s face is just good sales ethics.

Informative and relevant, the landing page on your website should wind the customer through a tunnel to the shopping cart in a matter-of-fact way. Now, the value of the brand has already been established, along with pricing and trust in the brand. By using Facebook for branding and customer service, a business will see a relatively fast return on investment of time and energy used sharing its brand with the masses. Customer service is the icing on the cake when the customer has purchased a product from the business and follow-ups are put into place. This means contacting the customer using Facebook for branding and customer service gives a business a future loyal customer.

Tips For Small Business Online Success

All business owners know how important marketing their products and/or services is. But even today I meet many entrepreneurs who do not realize the influence or the potential of online marketing. It is crucial that entrepreneurs not only understand, but leverage the power of the internet and social media. Knowing how to utilize this power can mean the success or failure of a business.

First of all, there are a few statistics that companies of all sizes need to take into consideration. Estimates from studies revealed that there are over two-billion internet users today. Five-hundred-million users have at least one Facebook page and more than 70% of local businesses use social networks to promote their companies. Twitter now has more than two-hundred million followers, while one-hundred-million individuals are on LinkedIn.

You can be sure that whether individuals have great things to say or want to trash your business’s reputation, they will tell anyone and everyone that will listen. They will either tweet about it to the world or post their opinion on a social network, blog, or message board, or perhaps all of the above. Positive feedback from satisfied customers will help your business grow and thrive, while negative feedback can destroy all of your investments and hard work.

There are countless websites that offer numerous tips on the best ways to use the internet and social media to promote products and /or services. Much of this is incomprehensible or complete gibberish. Many times owners decide that this type of marketing is either too confusing, too complicated, or both. This is a fatal business mistake and you do not want your company to be left behind the emerging social media trends.

Here are some of my tips for small business online success. Hope they will help you build a winning online presence for your business:

1. Start with your website

If you don’t have a website, as a business owner, you are wasting your time on social media. I could flood you with many reasons why, but let me say it very simply… you have nowhere to take them to. You website should be an extension of your business attracting your prospects and clients towards you.

2. Stay in line with your business strategy

If social media is not in line with your business strategy, forget about it. Social media should be an implementation tool helping you reach your goals, not a stand alone project taking your time and energy. Why do you want to use specific platform? What’s i it for your business and how fast can you see the results?

3. Create a smart social media strategy

What social media platforms are you planning to use? What is your goal? What action is necessary in order to achieve it? Who is going to implement it – is it you or do you need to delegate it to someone else? How and how often are you going to measure the results?

Many out there spent years trying to figure out social media without being able to see any results at all. By designing your strategy or game plan, you will be able to not only see the results much faster, but to also stop wasting time and resources you have.

If you are ready to stop being reactive in your social media marketing and start using resources available out there the smart way so that they actually support your efforts and help you achieve your goals, it’s about time you got your own Social Media Simplified Program, which will take you from overwhelm to clarity, from reactive to smart, from bland to brand. This info-packed telecourse takes the hassle out of online advertising and teaches you how to use social networks, connect them to your website and increase your online presence.

 

The Basics of Small Business Branding

You own a small business and you’re doing well but recently you have noticed that your competitors have a slight edge on you. Wondering why? Chances are, it has nothing to do with your product or price – it’s the simple fact that they are more memorable than you. There are two ways that you can increase your memorability. The first is through advertising and marketing and the second is through small business branding and brand strategy. To learn more, continue reading this article. Today, we will discuss the branding basics and give you some need-to-know branding tips.

Before we discuss branding tips, let’s begin by discussing a simple question: what is branding? Think about small business branding as a definition of what the clients think your business is about. With a good brand strategy, you can easily differentiate your services or products from those of your competitors, giving you the leading edge. To clarify, let’s use a brief example. You wake up late one morning and if you don’t leave soon you will be late for work. You don’t have time to make your own breakfast but you do have time to stop for a quick drive through bite. As you are thinking about where to go, you suddenly hear “Badabababa I’m lovin it” play in your mind. Where do you head? Towards the golden arches!Why did you choose McDonalds? You may think that it is because their food tastes great (and that can definitely be part of it), but doesn’t most fast food taste good? Most people do not realize that many of the decisions they make are based on branding. McDonalds has developed a great tag line that sticks in our heads. On top of that, anyone over the age of 3 knows what the golden arches represent. Small business branding, or the combination of a good tag line and a memorable logo, play a significant role in the success that McDonalds has seen in the past decade. By creating a strong brand strategy and developing your own tagline and logo, you too can see your business expand by making it memorable to your clients.Let’s cover some cool branding tips to help you build a magnetic brand. First of all, there are many things that you can do to increase the successfulness of your logo and tagline. However, of all the branding tips available, there is one that stands out as the most important; small business branding alone is not enough. Once you have developed a brand strategy, logo, and tagline, you must follow through on your promises. If your tagline is “I’m lovin it”, you better keep customers loving it. You can do this through brand management. Brand management involves a great deal of things, each of which is designed to keep your customers happy and keep them remembering your brand in a positive light. Brand management can include things such as manufacturing a high quality product, keeping your prices reasonable, and providing high quality customer service.

If you own a business, small business branding will become a necessary part of attracting customers. By developing a brand for your customers, you will make your business memorable, keeping them interested and returning for more. If there is one piece of information that you should take away from branding tips it is this one; branding alone is not enough. You must also engage in brand management tactics to ensure that your brand is seen in a positive light rather than a negative one. Start developing a brand strategy for your business today and give your customers something to remember you by!

Marketing Positioning and Small Business

Market positioning is the customer’s expectation of the brand, product or service in specific market segmentation. It is basically the differentiation that business is offering – different or unique from its competitors. So by market positioning, the marketers try to create the brand image in the mind of their segmented market. Market positioning is done to influence the consumer’s perception about the brand as compared to the other competing brands. In marketing positioning a specific niche is set for the marketing, than all the marketing mix strategies are headed toward providing the product or service to the customers according to their expectations.

It is always right that you can influence the customer perception and you can turn your own prospects into their thoughts. This will largely depend on the strategy you follow to make the market position and other marketing mix together. The purpose of market positioning is to make clear, unique and bright image of the brand and product in the minds of customers.

Before setting the market position, you should know what you are going to sell to your customer. There are some very important questions to be answered before defining your market positioning. These are:

What is the exact market segmentation that you want to cover?
What value do you want to offer to the segmented market?
What are the core benefits of the product you are offering?
Why is the value and care important from the customer’s point of view?
What is unique quality of your product which can give you sustainable competitive advantage over the other market competitors?
Based on all the above questions the market positioned is set and maintained in the minds of customers. The strategies are followed in such a way to deliver the best to the customers to meet their expectations. Actually the customers always have some ideas, characteristics and attributes in their mind regarding any product. So the position of the product and than position of market is set on these attributes. Meeting those attributes and qualities is essential to have position in the market. Using your strengths and covering your weakness can have great influence on the market positioning. It is said that “Positioning is the battle of mind”. So if the minds are captured by right market offerings in the specific niche, market positioning can be determined easily. So for making the market positioning, good marketing mix efforts are needed.

Specifically if you talk about small business organization, it is not easy to have a very strong market positioning. But nothing is impossible in this world, as marketing can do everything. You might want to invest in quality product creation and you also want to have a specific unique characteristic that may not be easily beatable by any of your competitor. Positioning with marketing is a strong combination for any business. Small business enterprise is established easily and personal credibility is strength of this business. So in small business, market your product with structured market positioning strategy. It will enable your company to build brand loyalty under right prices.

Marketing Positioning is advanced branding strategy and trying to do it yourself is one of the 7 Deadly Branding Mistakes. If you want to position your small business brand strong, we highly recommend working with a professional branding agency or brand strategist. We’ll be glad to help you if you are looking to position your business so that your prospects and clients understand your message and keep buying from you. Learn how we can work together or send us a message to request more information.

Everything You Need To Know About Social Media Marketing

If you are starting a new business, social media should be of primary focus when it comes to your marketing campaign. The extreme advancement of technologies on the internet in the past few years have made social media marketing a primary mode of marketing for small and large businesses alike. But what is social media marketing and how can it help increase your customer base? Let’s take a look.

Social media marketing is, as the name states, a form of marketing that uses social media as its base. Through the use of social media websites, business owners can attract potential consumers, direct them to their websites, and increase their number of sales. But what exactly is social media? It is a form of online website that allows individuals to communicate and interact with other individuals. Through social media you can send public or private messages, engage in real-time conversation, share photos and videos, and keep others informed about what they are doing at any specific period in time. These activities can also be applied to businesses, allowing business owners to transfer information to their customers through their online profile.

How can you be sure that social media marketing is worth your time? To understand how essential and beneficial social marketing is, all you need to do is look at the statistics. Because Facebook is the biggest social media tool, let’s use it as an example. Facebook currently has over 750 million active users around the world. Over half of these users log on to Facebook each day. That means that over 375 million users log on to the Facebook website daily. With these numbers, it is easy to see how businesses can grow through the use of this networking tool. Also keep in mind that although Facebook is the largest social media website, it is far from being the only one. There are dozens of social media websites out there, each of which will allow you to expand your consumer base even more.

So, we now understand why social media marketing works but exactly how does it work? Once you have created a profile on the social networking platform of your choice, you will need to build it up. The main reason why social media marketing works so well is because it gives you the opportunity to interact with your clients. No longer you are just a business trying to steal their money. Rather, they can now interact with you and connect your face and personality with the name. On social media, you can easily post updates, keeping your customers informed about anything relevant to your business. You can also share photos, videos, or other interesting tidbits that your customers may enjoy. And most importantly, social media allows you to connect with your customers. Customers can easily post questions or comments on your profile page which you can then respond to in a timely manner thereby increasing their trust and ensuring them that your customer service is beyond accommodating.

Branding Quotes

I love reading inspirational quotes. They don’t take too much time to read, but they still inspire you and get you going. I decided to share with you some of my favorite branding quotes today. Enjoy and feel free to add yours in comment area!

“Brand value is very much like an onion. It has layers and a core. The core is the user who will stick with you until the very end.”
Edwin Artzt

“A tiny change today brings a dramatically different tomorrow.”
Richard Bach

“It is not slickness, polish, uniqueness, or cleverness that makes a brand a brand. It is truth.”
Harry Beckwith

“A great brand is a story that’s never completely told.”
Scott Bedbury

“It is what we think we already know that often prevents us from learning. ”
Claude Bernard

Brand equity is the sum of all the hearts and minds of every single person that comes into contact with your company.”
Christopher Betzter

“A brand for the company is like a reputation for a person. You earn reputation by trying to do hard things well.”
Jeff Bezos

*A brand is a personification of a product, service, or even entire company.”
Robert Blanchard

“An image is not simply a trademark, a design, a slogan or an easily remembered picture. It is a studiously crafted personality profile of an individual, institution, corporation, product or service.”
Danie J Boorstin

“Your premium brand had better been delivering something special, or it’s not going to get the business.”
Warren Buffett

“Well-managed brands live on – only bad brand managers die.”
George Bull

“If you don’t get noticed, you don’t have anything. You just have to be noticed, but the art is in getting noticed naturally, without screaming or without tricks.”
Leo Burnett

“How many cares one loses when one decides not to be something, but to be someone.”
Gabrielle “Coco” Chanel

“Without strategy, execution is aimless. Without execution, strategy is useless.”
Morris Chang, CEO TSMC

“Success means never letting the competition define you. Instead you have to define yourself based on a point of view you care deeply about.”
Tom Chappell, Tom’s Of Maine

“The empires of the future are the empires of the mind.”
Winston Churchill

“A business based on brand is, very simply, a business primed for success.”
David F. D’Alessandro

“Long-term brand equity and growth depends on our ability to successfully integrate and implement all elements of a comprehensive marketing program.”
Timm F Crull, Chairman & CEO of Nestle

“There is a better way to do it. Find it.”
Thomas A. Edison

“When walt disney announced TV show to promote his movies, other studios were angry. They saw TV as competition.”
Don Florence

“It isn’t what they say about you, it’s what they whisper. ”
Errol Flynn

“How difficult it is to be simple.”
Vincent van Gogh

“A mind, once stretched by a new idea, never returns to its original dimensions.”
Oliver Wendell Holmes

“If you can eliminate all the other choices, the remaining choice, no matter how improbable, is the answer.”
Sherlock Holmes

“A brand that captures your mind gains behavior. A brand that captures your heart gains commitment.”
Kent Huffman

“I am irresistible, I say, as I put on my designer fragrance. I am a merchant banker, I say, as I climb out of my BMW. I am a juvenile lout, I say, as I pour an extra strong lager, I am handsome, I say, as I put on my Levi jeans”
John Kay

“What shapes our lives are the questions we ask, refuse to ask, or never think to ask.”
Sam Keen

“A product can be quickly outdated, but a successful brand is timeless.”
Stephen King

“Authentic marketing is not the art of selling what you make but knowing what to make.”
Philip Kotler

“If you are not a brand, you are a commodity.”
Philip Kotler

“Products are made in the factory, but brands are created in the mind.”
Walter Landor

“If you want to be found, stand where the seeker seeks.”
Sidney Lanier

“I am not looking like Armani today and somebody else tomorrow. I look like Ralph Lauren. And my goal is to constantly move in fashion and move in style without giving up what I am.”
Ralph Lauren

“Marketing is the art of meaningful differentiation.”
John Lederer

“The golden rule for every businessman is to put yourself in your customer’s place.”
Orison Swett Marden

“Overnight success takes years.”
Tim Marks

“To be persuasive we must be believable; to be believable we must be credible; to be credible we must be truthful.”
Edward R. Murrow

Our success is a direct result of knowing how to market a brand and having the right people representing the brand.”
Greg Norman

“Any damn fool can put on a deal, but it takes genius, faith and perseverance to create a brand.”
David Ogilvy

“The best way to have an idea is to have a lot of ideas.”
Linus Pauling

“Think about your brand becoming portal of information and value to your individual costumers and consumers.”
David Placek

“Do something worth remembering!”
Elvis Presley

“The more you engage with customers the clearer things become and the easier it is to determine what you should be doing”
John Russell, President, Harley-Davidson

“Customers must recognize that you stand for something.”
Howard Schultz, Starbucks

“There is no greater fraud than a promise not kept.”
Scottish saying

“Some kid in his basement is building the next thing.”
Rachel Sklar

“Brand is the ‘f’ word of marketing. People swear by it, no one quite understands its significance and everybody would like to think they do it more often than they do”
Mark di Soma, Audacity Group

“Don’t think about consumer needs in terms of product categories, but rather in terms of consumer experiences.”
James Thompson

“Good decisions come from experience. Experience comes from making bad decisions. ”
Mark Twain

“Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.”
Thomas J. Watson Jr.

“Don’t listen to you customers. They don’t know what they want anyway.”
Larry Webber

“The stronger the dialog, the stronger the brand; the weaker the dialog, the weaker the brand.”
Larry Webber

“Create your own visual style… let it be unique for yourself and yet profitable for others.”
Orson Welles

“Be yourself. Everyone else is taken. Oscar Wilde”
Oscar Wilde

“It is only shallow people who do not judge by appearances.”
Oscar Wilde

“If you don’t have time to do it right, when will you have time to do it over?”
John Wooden

“Without deviation from the norm, progress is not possible.”
Frank Zappa

The Importance of Branding

Branding is a key concept in marketing circles, as it is the pivotal springboard that can thrust your business forward, and give you a competitive edge. A well-defined and strong brand will drive sales, build customer loyalty, create brand value, and most of all, it will be the catalyst for business growth, as consumers will be motivated to buy your product.A brand is usually associated with the logo, sign, name, or other image that consumers associate with your company and product. But in fact, brand also incorporates other factors, and encompasses those unique characteristics that distinguish your product, and sets it apart from the competition. It also relates to the quality of your product, the way you do business, and how you are perceived by others.

Business branding is therefore important to every business regardless of the size, because it communicates information about your business and product to the market. It will influence the cost of your product, packaging, marketing and advertising strategies, distribution channels, and more. Branding is all about establishing an identity, and becoming recognized for it.

There is no denying the importance of branding, especially for the small business. Consumers are always willing to buy products they know and trust. A strong, well defined brand, gives you a competitive advantage in the market. It allows you to charge more for your product, knowing that consumers will remain loyal, and buy it at the higher cost. That is the result of consistent reinforcing of the brand, which enables positive responses from the consumer.

Branding is one way to attract new customers. When a customer comes to you because of all they have heard about your product and business, then you can be certain that they are serious about buying. When you run marketing campaigns, you are simply throwing out a wide net to attract a large number of customers. From there your marketing guys spend time with those leads to find out who is really serious. That takes a lot of time and money, and in the end, you are not sure that those customers will buy. On the other hand, branding puts you in a position to attract serious buyers first off.

Those leads might have been generated because of satisfied customers, who are happy to spread the word. Or, they might have been the result of persistent market reinforcement. However the key is, they came about due to a branding strategy that effectively communicated the solution the customer was looking for.

Branding puts you in touch with customers who know your business and your product before they even step inside your place of business, or buy your product off the shelf. They know about you because of your brand, and the value that goes with it.

As we have seen, branding is an effective way to facilitate the growth of your business. When successfully implemented, branding can give you a strategic position in the market, and eventually lead to increased profit. This is achieved as a result of the influx of new customers, and the continuing support of existing ones. Branding builds brand loyalty and value, attracts new customers, and makes you stand out from the competition. These are all key components in ensuring the continued profitability of your business.

Bring Traffic To Your Website Using Social Media

In the last few years, the numbers of social media websites have expanded greatly. Similarly, the number of people using these websites has soared. Facebook alone has an online active population of over 750 million users. Combine this statistic with the number of people using Twitter, LinkedIn, YouTube, and other social media outlets and you will see that there are an overwhelming number of people using social media to keep in touch with friends and family. Social media, however, is not only great for keeping in touch with people; it is also great for reaching out to consumers. Many businesses have now changed their marketing strategies, moving social media marketing up to number one on their to-do list.

If you want to take advantage of social media and use it to help drive traffic to your website, begin by creating your profiles. If you are unfamiliar with the social media world, you may want to begin with one social media site and then, once you familiarize yourself with it, build a profile on yet another site. Similarly, take time to explore the website you choose. The more familiar you are with the website, the better you can use its resources to promote your business. When beginning, it is recommended that you start with Facebook, LinkedIn, Twitter, or YouTube. These are the most popular social media sites and will be the most likely to attract consumers.

Once you have created your business profile, it is time to start building it. Remember, just because your profile is there doesn’t mean that you will attract consumers. You need to make your profile appealing, drawing in consumers and keeping them interested enough to return to your page. Keep your profile information informative yet interesting at the same time. One way to keep your information interesting is by uploading photographs, videos, or other types of applications that may be of interest to your consumers.

Once you have attracted your consumers, you need to keep their attention. Just because they have checked out your profile once doesn’t mean they will do so again. Why is it so important to keep your consumers coming back? Very few consumers make a purchase the first time they view a website. The initial visit may be enough to capture their attention, but you also need to gain their trust and convince them that your product is a better buy than that of your consumer. There are several ways that you can use your social media page to gain trust and direct buys.

Firstly, keep your consumers informed by updating your information regularly. If they are interested in your product, it is likely that they will come back to check for updates and when they do, you want to ensure that you give it to them. Aside from providing updates through your social media profile, you will also want to communicate with your consumers. If a consumer posts a comment or question on your page, be sure to answer back as quickly as possible. Not only will this show them that you can provide them with excellent customer service, but speaking to them directly will also help to gain their trust showing them that there is a person behind the business.

If you are a small business owner, social media will be greatly beneficial in attracting customers to your website. Once you create your informative (yet interesting) profile, return often to keep it updated and respond quickly to customer comments. By using social media to communicate with the public, you will be able to gain their trust turning possibilities into sales.

Magnetic Look works with small to medium size businesses who are looking to improve their positioning on the market and increase their profits. Our programs and services are designed to strategically deliver the results you need in order to succeed. Build your own smart social media strategy with our Social Media Simplified program.

The Importance of Social Media Marketing

There’s a lot of reason as to why a certain company needs social media marketing and it will depend on different factors like company profile, the products, and the customers that it is catering to. As the days go by, I would say there is also an increase when it comes to the importance of social media marketing that is very effective for most companies.

Below are just some of the major importance of social media for you and your company.

1. Social media channel is a good way of increasing a company’s trustworthiness and goodwill which will definitely give the said company and increased and better branding. When companies are able to have conversations with their customers, the result is going to be a great amount of credibility.

2. The lead generation is also another basis for companies to go for social media marketing. Since the lead generation serves a very important part for a company’s success, then using social media marketing for your campaigns help you reach out your targeted lead generation.

3. Social media channels also make it easier and more flexible for companies to engage with its customers. You have to put this on your top priority list since customer engagement is a very crucial since this will help your company retain your existing customers and of course increase your brand credibility.

4. Social media channels are also responsible for generating a highly powerful traffic for your site. You don’t even have to worry since there’s a lot of social media channels that will be able to help you and would make it easier for you to obtain for your website the relevant and quality traffic that it will need.

5. Aside from that, when you promote your products through social media channels, this will definitely help you so that you can increase your return over investment or ROI. This process will be able to help you in increasing your conversion rate and benefit from a desirable ROI.

6. Your industry is considered to have a backbone if you have total access to customer’s feedback. This is because the feedback actually helps in improving your products based on what your customer’s require. Due to the fact that social media channels aid in making customer engagement possible, then customer feedback will always be available for the company to use as basis for improvement. With this, you can always expect customer reviews and feedback that can help you in making your products or services even better.

7. There is no better way or an even cheaper way than a social media channel when it comes to announcing new products or services for your company. Social media will make it easier for you to spread the news regarding a new product or service. You can even include information such as arrival or release dates.

8. Another importance of social media marketing is the fact that it will allow you to discover your customers’ preferences so that you will be able to act based on what they want. By knowing their preferences, it will be much easier for you to enhance all of your products and plan your marketing campaigns more effectively.

Magnetic Look simplifies your business and life as it helps you develop a personalized, effective and profitable strategy for your small business. Stop wasting your time and money and discover how to stand out in your industry and build a magnetic brand.