Brand awareness, customer communication, building a community around your product or service and finding new markets. Social media provides new ways to understand your customers and their habits.
The three social media giants, Facebook, Instagram and Twitter, have a combined audience of 3.4 billion active users. These audiences are made up of people who have given data that you can use to target them.
Social media marketing advertising spend is therefore usually lower cost than other traditional channels, and is often more impactful and effective.