Not convinced about social media? Here’s what you need to know

Social media, maximize profits, attract more customers, start you business

Facts about Social Media

Have you ever looked around in a public space, how many people do you see on social media?

A study by statista.com found that over 70 percent of the U.S. population hold a social media account, these platforms and services have become some of the most popular online activities of the past decades. The number of social network users in the United States is forecast to increase to approximately 243 million by 2025.

If that’s not enough to convince you that you need to have an online presence for your business then let’s assess what else you need to consider:

  1. Reach out to potential customers. Talk to them directly and show them that you care about their opinion and maintain your company’s reputation – on a Global Scale. Also, targeted marketing is a way to leverage social media to reach your desired customer. The difference now is that we have more access to the tools necessary to reach the people you are targeting. With the use of social media, you can target by age, gender, income level, interests, and so on.
  2. Create customer loyalty through engaging with your current customers – finding out what they need, showcase your products and services and build a brand. Social media also gives businesses the opportunity to create their own content which is more authentic than traditional advertising.
  3. Competitor analysis – the way to use social media for competitor analysis is to analyze the posts they publish on their social media sites. For example, if they post about a new product they’re launching or a sale they are having, you should take note of that and respond accordingly. If they post about a problem with a product, you can also take note of that to be better prepared for any issues that may arise.

Social media does not require large budgets and excessive amounts of time. Options are available!

  1. Do this yourself at a fraction of the cost:

Factors for consideration:

  • Which social media platform are you going to use?
  • How can you integrate platforms so that you are not repetitively posting?
  • Create a content plan that drives your growth strategy
  • Pre-post your content – consider a tool/software/platform that automatically posts your content
  • Allocate time on a daily and weekly basis to update, engage with customers and conduct social media efficacy.
  1. Outsource to a social media agency:

Factors for consideration:

  • Allocate a monthly budget
  • Content creation
  • Targeted advertising
  • Progress reports

A social media presence is critical to maximizing profits for your corporation – it should not be overlooked and can be used as a channel to increase sales. If this is overwhelming and you are still not convinced that social media should be considered for your business, start your business with B.E.T, your digital business manager to support you on your growth and transformation journey.

© YVR Consulting Pty Ltd 2024