We hear it all the time:
- “I’m limited on what I can say, it’s not worth the trouble.”
- “What’s the point? I still get business anyways.”
- “We’re not (insert conglomerate competitor name here), so consumers really don’t care to hear from us.”
To spare you the Donald Trump “Wrong!” quote, these responses all share one thing in common: deniability. Denying your customers, denying potential business, and most importantly, denying the inevitable. If there’s anything that we’ve learned after months of a COVID-19 quarantine, it’s that businesses without a solid digital presence suffered.
What’s more, a study of 25,000 consumers across 30 markets showed a 61% increase in social media usage during COVID-19 (Forbes, 2020). Right now is the absolute best time to start a social presence, because there’s never been as many eyes glued to technology like this since the Super Bowl or Olympics.
Beyond the societal impacts, there are also 3 very important reasons that your business needs a social media presence:
When was the last time you asked yourself, “What’s driving traffic to my website?” One might answer with, “We’re well-known in the community and customers tell everyone about us!” For companies with bigger budgets, they might say website traffic is driven by TV commercials, an SEO team or paid advertisements. While true, these tactics can indeed drive traffic… I would have to refer to one of Shark Tank’s Kevin O’Leary sayings of “building a better mousetrap” to argue that social media is the better “mousetrap” in the long run.
TV spots and paid print advertising are very difficult to accurately track ROI outside of a general impressions number that the publication/media company gives you. Social media’s digital compatibility, however, allows any analytics platform to track resulting website views or any ROI goal that your business sets.
According to Statista, there’s been a 23% decrease in traditional media (magazine, newspaper, radio, TV, etc.) daily usage over the last decade, whereas digital media (mobile or desktop version of radio or TV, and social media platforms) has seen a 111% increase in daily usage.
You’ll see that COVID-19 bumped up traditional media daily usage due to quarantining at home, but also notice the steady then sharp incline for digital media.
If you prefer to see a clear, measurable ROI, we highly recommend incorporating social media into your advertising strategy.
While there’s always going to be that one Facebook friend who posts their gym selfie or plate of food, consumers also use social media to conduct research on any product or business. Out of the billions of active users on social media (including yourself), 54% of social browsers use social media to research products (GlobalWebIndex).
Let’s break that down a bit further:
- 60% of people say they discover new products on Instagram. (Instagram)
- Approximately 80% of all Instagram users follow a business on Instagram. (Instagram)
- A Statista report concluded that 52% of respondents in a survey were interested in purchasing a product found on Facebook. (Statista)
- 53% of users say they bought a product they first saw on Twitter. (WebFX)
- Over 46% of all social media traffic to company websites comes from LinkedIn. (LinkedIn)
Social media is the goldmine to getting your business name and products out there to consumers that are (evidently) searching for the solution you offer.
We’re all guilty of at least researching any competitor or business online, whether it’s to see any offered products or to learn more about the business itself. Don’t you want to be one of those searched-for companies?
Not every business has to have all of the major social media platforms in order to be successful. We recommend starting with 2-4 depending on your industry, but generally speaking, social media allows complete customization to whatever goals you have.
Each platform, despite being all digital, requires different imagery and content. We don’t like to use a one-size-fits all model, because the truth is that (just like traditional media) no social media platforms are the same.
Take a look below to see what we mean:
- Users: 1.73 billion daily active users worldwide
- Audience: Generation X and millennials
- Industry impact: B2C
- Best for: Brand awareness; advertising
- Users: 1 billion monthly active users
- Audience: Primarily millennials
- Industry impact: B2C
- Best for: Natural-looking media, behind-the-scenes, and user-generated content; advertising
- Users: 675 million monthly active users worldwide
- Audience: Baby boomers, Generation X, and millennials
- Industry impact: B2B
- Best for: B2B relationships, business development, and employment marketing
- Users: Over 2 billion logged-in monthly users worldwide
- Audience: Millennials, closely followed by Generation Z
- Industry impact: B2C
- Best for: Brand awareness; entertainment, and how-to videos
In traditional media advertising, businesses are forced to stick with a very specific set of rules (time frame, script, size, etc.) to appeal to a very specific audience. Social media allows you to choose any image, video, or graphic you prefer and share it anytime you want. No advertising company has this kind of flexibility! Let’s also not forget that social media is also salesman-free, which is a major perk for those of us with completely full inboxes.