– Megan Noll
Social media has managed to work its way into nearly every aspect of our lives – we get our news from Twitter, socialize on Facebook and get a glimpse into other people’s worlds on Instagram. Expanding beyond our personal lives, social media continues to play a key role for businesses, as well.
More than 90 percent of medium and large businesses have been using social media in their marketing plans for at least five years, according to a recent survey. However, when it comes to small businesses, there are still 24 percent that have no social media presence at all. These companies are missing out on an easy way to build brand awareness and transparency and establish themselves as thought leaders in their fields.
Here are three more reasons why your business should establish a social media presence.
It Is Convenient
People of all ages and demographics are glued to their smartphones for hours throughout the day. People aren’t obsessed with these small rectangles for no reason; our phones are a golden key that opens virtually all doors to people, finances, e-commerce and, of course, media and advertising.
Smartphones are also great because they give us access to a variety of apps to make posting easy. Whether you want to live Tweet an event, Facebook Live a speech from a CEO, or post a beautiful photo from your office, everything can be done conveniently on your phone. Along with the ease of use, it’s free for companies to create a profile and post on social media. There are paid options for boosting posts or advertising, but for the most part, social media provides businesses a free, easy-to-use way to reach an enormous audience.
Be where your consumers are.
It Can Attract a Diverse Audience
One of the primary benefits in the evolution of social media is the variety of audiences that the various platforms attract. Facebook draws in different users than Twitter, and people use Twitter differently than they would Snapchat or Instagram.
If companies use their social media pages strategically, they can position their business appropriately, and appeal to a greater and more diverse set of people. For example, a report in Business Insider says that WhatsApp, a messaging app widely used internationally, is going to start allowing businesses to reach greater audiences through advertising.
One of the key distinctions between the different social media platforms is the demographics of their users. Facebook has gradually become the dominant platform used by older demographics, as opposed to the younger crowds that dominate Snapchat and Instagram. According to Sprout Social, 84% of people aged 30-49 and 72% of people aged 50-64 use Facebook, while only 33% and 18% of people in those respective age ranges use Instagram.
Twitter is increasingly being used by people as a quick source of breaking news. A study done in September, 2017 by Pew Research found that 74% of Twitter users receive their news from the platform.
As more and more research is conducted about social media, businesses should be reviewing it carefully to ensure they are tailoring their marketing appropriately. A business that is still targeting younger generations on Facebook rather than on Instagram will fall beyond a company that was able to pivot its marketing plan.
It Is a Way to Watch the Competition
While the number of likes, retweets and shares cannot wholly measure the success of a company, it is a good indicator of the company’s reach. Do your competitors have more followers than you? On which platforms? Are their posts receiving more engagement?
Companies are constantly trying to level the playing field and stay ahead of the game. Canvassing social media accounts of competing companies is a great way to stay alert and “in the know” about what people find interesting and engaging. You can also keep tabs on any big news from your competitors or articles quoting them, since those will likely be shared on social.
Our society’s connection to social media grows exponentially, year after year. It’s time for those still holding out to understand its presence as an integral part of a business strategy and learn how to make the most out of the growing opportunity.