Did you try to sell something on social media or at least promote your websites or services on those social networks? If yes then you will realize what you will get benefits from social networks. I can say it is really a long story that I can say all here.
The ways in which your business will benefit from social media depends on the nature of your business. For example, if you sell convenience (or otherwise inexpensive) products, your business can generate direct sales from social media. If you sell diamond engagement rings, like us, then social media is mainly a channel for generating brand awareness. If you are a professional services organization, offering something along the lines of real estate sales, accounting, taxes, etc... then social media will likely act as a source of direct referrals (prospective clients) AND a channel for local brand awareness.
I have also observed a great deal of success in the Beauty industry on social media, where social media acts as both, a source of direct sales and brand awareness (makeup, skin care, etc...).
Social media is important for businesses for a few reasons. Your company can reach diverse audiences, build brand awareness, engage current and future customers, and generate leads and sales using social media platforms like Facebook, Twitter, and Instagram.
Social media is the life support of your business. It helps you to reach as far as many audiences as it can be. In addition, it is cost-effective as your expenses will be minimized like a physical store, overhead, and others.
It will benefit a lot for your business but you need to establish your brand first to be able to gain lots of followers that trust your service or product. This will take time and consistency of providing the most unique and interesting content or message to your audience.
I think social media's biggest pro is the speed of how information can spread from one person to another. If you are a new business, social media marketing is a great way to start off your journey, along with other strategies as well.
First of all, You can get a lot of traffic from Social Media. Because at present every people have a social media account. SO if you wanted to spread your business then Social Media Marketing and sharing is a good way.
Social media can help your business to: attract customers, get customer feedback and build customer loyalty. increase your market reach, including international markets. do market research and reduce marketing costs.