Social media platforms and their impact on business have been a growing topic of debate over the past decade. Not only has the internet wholly altered the business landscape, but it has also forced both small and large businesses to readjust their marketing strategies to reach the masses of consumers who use these platforms.
This is what has allowed Facebook ads to grow, LinkedIn news to foster, and Instagram to flourish. With this said, nearly all small businesses plan to invest more of their money and time into these social media platforms, according to the Manifest. Here are the trends you need to follow as a business to keep up with your competition.
- Increase Your Investments in Social Media. According to the Manifest, the majority of small and large businesses already understand the impact that social media has and are therefore investing more into these avenues. Most companies are looking towards investing more in Facebook, YouTube, Instagram, Twitter, Google Plus, Snapchat, and LinkedIn.Other popular and growing social platforms include Pinterest and Reddit as well. But to put this point into perspective so you can tweak your marketing strategy, the majority of businesses polled are looking at Facebook, YouTube, and Instagram as their top marketing avenues for the rest of this year.
- Increase Your Facebook Investments. Even with Facebook’s most recent problems (ref: Cambridge Analytica), many businesses are still investing in Facebook as a marketing tool. This is just simply because Facebook is the most popular platform used, with 45 billion daily active users logging in each day. Interestingly, statistics show that Facebook users increased their use of the platform following the Cambridge Analytica data scandal.
- Value Customer Engagement. By employing social media platforms as a tool to reach customers, businesses can track metrics such as audience growth, conversions through clicks, and engagement. Engagement is the most important out of these metrics, however, as it demonstrates to businesses whether their followers are genuinely interested in their brand. Brand awareness is critical, and if you want to make sales and increase growth, you need to keep your audience actively engaged.
- Use Paid Social Advertising to Get Ahead. Fewer and fewer businesses are using traditional print media for advertising because it is expensive and is the equivalent of a shotgun blast in that it is harder to target specific demographics. Social media, on the other hand, allows businesses to directly interact with their targeted audiences either for free or at a fraction of the cost of traditional advertising.
- Use Multiple Resources to Cover All the Bases. Not only can outside resources such as social media managers help small businesses manage their social media strategies, but they can also help them succeed in maintaining a consistent strategy. Social media is complex, and ever-evolving and companies don’t always have the time to keep up with the latest trends. So, using outside resources can ensure that your brand is consistent in voice and image while you focus on running your business.
The key to successful social media marketing is to find the right platform for your particular business and create a strategy around that. If you have a company that works well with photography and imagery, choose to focus on platforms like Instagram and Snapchat. Alternatively, if your services target young professionals, try experimenting with LinkedIn and Facebook.