The Importance of Social Media in Business

12-18-2019 Home  »  Marketing  »  The Importance of Social Media in Business


In the time it takes you to read this sentence, about 100 new social media accounts were created.

Boom. Let that sink in for a second.

…Crazy right?

Social media in today’s world is an incredibly powerful tool in boosting a company’s reach to potential customers. Every year more and more people are joining social media and as time progresses, social media will serve an even more vital role in our culture.

So How Can a Company Capitilize off Social Media?

There are many ways a company can capitalize off the benefits of social media. Each company is different and has specific ways of using social media successfully. 

So to be clear, there is no perfect answer

Every situation is different. Developing your own successful social media strategy is usually the hardest part. Here are some generic approaches in capitalizing off Social Media:

 

Marketing

Marketing on social media has grown exponentially in the last few years. Over $32.18 Billion was spent on advertising via social media platforms in 2019. However only a third of existing companies planned to spend more than 20% of their total marketing budget on social media platforms in 2020. 

This opens up the door for you! Most companies don’t know how to maximize ad dollars on social media for positive gains. So, how’s it done?

The reason why social media advertising is so crucial is because of how specific you can get with your audience. Social media platforms allow advertisers to target ads based on age, gender, location, interests, etc. You can get as specific as you want.

Every company should know who their target audience is which helps optimize the use of ad dollars. By effectively and efficiently targeting your consumer audience, ad dollars can be taken to a whole new level.

 

Getting Personal

This is single handily one of the most important aspects of a large corporation’s social media strategy. About 72% of users who complain about a brand via Twitter expect a response from that brand. 

…Excuse me, what?

If someone told us 10 years ago that they could get a response from a company like Coca-Cola, we’d laugh. In their face.. A lot. This isn’t even the crazy part - users expect a response within 1 hour.

Here's Why:

  • In today’s world, users heavily rely on social media to build a base or an opinion about a certain product or company -This is why getting personal on social media accounts help build positive relationships. Not only can it raise overall opinion about a company, but it helps gain customer insights. 
  • Market research is changing -  Nobody fills out surveys anymore. I mean we might if there was a chance at winning an all-expense paid trip to the Bahamas.. But even then we're too busy for a measly 60second, 5 question survey. We have Netflix shows and YouTube videos to watch! Feedback on social media is pure and a valuable source for a company to gain customer insight

By getting personal on social media platforms (Twitter, Facebook, Instagram, etc.), a company can interpret how they are performing. In turn.. gaining insight on potential and new competitive advantages.

 

Reach

Reach. Reach. Reach. Everyone talks about this thing called “reach.” Well, what is it?

It’s a company’s ability to increase their awareness of their brand and influence consumers. If a company doesn’t have or actively manage a Facebook page, they could potentially be missing out on reaching 1.71 billion users (plus 400 million Instagram users, 320 million Twitter users, etc.). 

Social Media is the easiest and cheapest way to get your brand into the community. 

Not only will your brand awareness increase through social media, but this will also increase overall traffic and SEO ranking of your website. Again, this can all be done easily and cheaply. 

So what’s the catch?

There is none…Well, not really. 

Managing social media effectively can be time consuming and confusing at times. However if you’re willing to put in the time, you (and your business) will not be disappointed. 

 

 

All of this still seem to be too much for you? Feel free to get in contact with ContouredCreatives and they'll lend you a hand!





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Hi, I'm Shawn Malkou. I'm determined to help you succeed. My question is, are you ready?

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About Shawn Malkou

He is the shawn-of-all-trades. Starting his entrepreneurship journey at the age of 14 with a dream and a single YouTube channel, he’s then since broken into countless industries. As the founder of Dream2Succeed, co-founder of DishTheDeal, co-founder of DirectionDesk, and lover of all things media – Shawn prides himself in picking up a new skill quickly to then share with others.

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Ready for the
next level?


Hi, I'm Shawn Malkou. I'm determined to help you succeed. My question is, are you ready?

Let's Do It