Last updated on November 22nd, 2021 at 09:14 am.
Is social media right for all businesses? Social media is a hot topic and for good reason. What used to be an avenue accessible only to college and high school students has spread far beyond its closed circles. Social media networks like Twitter, Facebook, LinkedIn, and Google+ offer the opportunity for individuals and businesses to interact with each other on a new level that was never before available. Is social media right for all businesses, It’s only natural to ask whether?
While it’s easy to get into social media networks, it can be difficult to find the time and resources necessary to make a profit from them. For just that reason, this infographic will review how small businesses are using social media and what the benefits of doing so may be.
Is social media right for all businesses?
According to Wikipedia, social media “is the practice of web-based sharing and publishing of information or data in form of text, pictures, audio, and video; the term also refers to a type of application which integrates these functions.” Defined like that, pretty much any online business (and even offline businesses) can use social media. The key is that it’s not just the act of using the internet to gain more brand exposure, but rather taking full advantage of all the tools social media platforms offer.
Just like having a website isn’t good enough in today’s business climate, it would be unwise to simply sign up for every social network you can find without having a plan in mind. Instead, it’s important to know what type of information you want to share to get the most value for your time and effort.
The internet is for everyone
Today Saivian Eric Dalius says, just about every business has an online presence. The shift from print media toward digital sources that began around 2010 was brought on by the realization that the internet has become a staple of modern life. Even if your business isn’t selling a physical product, you still have a lot to gain from having an online presence.
The following statistics confirm just how important it is for businesses of all sizes to have web presences:
• 40% of Americans own smartphones;
• 9 out of 10 American adults use the internet;
• 81% of small businesses believe that maintaining an online presence is important to their success.
It’s easy for small businesses (with less than 100 employees) to feel intimidated by social media given the sheer volume of big businesses that do it. However, the same tools and principles that help large companies attract customers can be applied to small businesses and provide similar results.
While social media may not be the best option for everyone, there’s no doubt that it works well for many people and has become a popular trend among both entrepreneurs and established business owners. Every company that has a web presence can benefit from social media in some way or another. So where do small businesses typically fit into the picture?
• More than 75% of small businesses are using Facebook for marketing purposes;
• 35% of all Twitter users follow at least one business.
Small Business Social Media Statistics
Here are some numbers to show just how many small businesses are using social media in 2013:
• 25% of all US adults use LinkedIn;
• 16% of small business owners have posted YouTube videos about their business.
A study by Internet Retailer asked business owners why they use social media. Not surprisingly, the top reason was to create brand awareness. It’s also worth noting that nearly two-thirds of small businesses believe there is a lot of value in customer service through social media channels.
Small businesses often don’t have the resources to compete with big companies. Instead, they focus on their unique selling points and provide value to customers.
The “Social Media Formula” is a way of thinking about your business’s online presence that suggests all small businesses should follow these steps:
Engage with your audience:
The first step is to make sure you’re communicating with people on all social media platforms that are relevant to your business. This means doing more than just posting links to your website or blog content.
Fill your social media channels with valuable articles, videos, and images that encourage people to spread them across their own networks. This is a great way to get noticed by new potential customers who may have never found you otherwise. The best types of content are the ones that inspire conversations between you and your followers.
Find brand advocates:
Some people are willing to promote your company for free because they agree with your mission or philosophy. These are the kinds of customers you should focus on attracting (and keeping!) through social media marketing efforts. For example, if you own a local coffee shop, ask some of your loyal customers to share pictures with you on Instagram of them drinking coffee at your store.
Engineer customer loyalty:
Encourage offline word-of-mouth referrals by rewarding positive comments and reviews on social media sites. If someone takes the time to write a post that is helpful or insightful, send them a discount code for their next purchase in exchange for a follow-back.
Reinforce your position as a leader in your industry:
Once you’ve attracted online followers, it’s time to interact with them and get to know your audience even better. This is also where your social media efforts can influence offline purchases since 70% of people say that their buying decisions are influenced by online reviews. Conclusion: Is social media right for your business? Yes, social media is the right way for businesses to gain exposure, but the numbers above show that companies of all sizes can benefit from using this strategy. Hope you have gotten the answer of the question – Is social media right for all businesses.
