Should my business be on social media?
As a handy companion piece to our previous social media-themed missive, in which we outline the pros and cons of the various networking platforms, today we are going to tackle a rather more general, but equally-important question:
Should my business be on social media?
Now, that might seem like a ludicrous thing to ask. What kind of half-baked operation would choose to deny themselves a free opportunity to engage with their customer base AND promote their services and products to a widespread audience? An absolute no-brainer, surely?
Well, yes, there’s certainly a deep well of benefits to embroiling your business in the hyper-connected world of social media. But, as we discovered in the previous blog, that’s not to say that every platform is right for every company. If we’re in the mood for popular maxims: horses for courses is one that springs to mind.
The trick is finding out which horse is right for which course.
But let’s not wander too far off track. Here’s a look at some of the general advantages of your business being on social media:
Brand awareness
It’s a simple enough formula. Billions of users all across the world are active on social media every single day, so it seems logical to project your business where the virtual foot traffic is at its most dense. Go where the action is, and put your brand in front of as many eyes as possible.
We’re not not talking about a passive audience here, either. In a recent study, more than 60% of Instagram users said they would often purchase products and services found in adverts and sponsored posts on their feeds. So there’s a potentially responsive pool of customers out there just waiting to engage.
Brand personality
The modern business wants their presence on social media to feel organic. Indeed, in the last decade or so, there has been a noticeable shift for companies leaning into the idea of brand authenticity. Binning the image of the faceless corporate robot and instead adopting an affable human persona that will engage a band of loyal followers.
We’ve probably got Innocent to blame for all this. The healthy drinks behemoths have been pitching their informal we-just-want-to -be-your-mates patter since the late-90s, well before the age of social media, and companies across the world have been trying to catch up ever since.
Businesses need to create a distinct voice on social media; a relatable, approachable contact point that users can feel they can interact with and trust.
It can take time to develop an online identity, but the rewards are unlimited. It’s a surefire way of showcasing your brand values and winning over your customer base.
Standing out from the crowd!
By posting engaging on-brand content on your social media channels, your business can really stand out from the crowd of competition. Whether it’s penning thoughtful blog posts and tweets, or crafting a visually-captivating advertising campaign on Instagram—there are plenty of creative ways in which to mark yourself as an industry leader.
Show your customer base that social media isn’t just a dumping ground for inane scheduled posts and relentless promotional material; that you’re actually thinking about the kind of content that the user might find interesting or useful. You’re in control, and the power to mindfully shape your output is at your fingertips
Website traffic
If we’re to assume that sales are the all-important end goal for the long-term success of your business, then igniting a potential customer’s interest on social media can be an effective first step in the chain. If your followers enjoy the content you’re posting, it might encourage them to discover more about your company and its products by clicking on your website. Higher website traffic can translate to more engagement, and, vitally, more sales. Social media can be the critical touchstone for a customer; a positive first impression can lead to a commercially beneficial relationship.
Reputation management
There’s plenty to read about effective online reputation management elsewhere on these glorious pages—which we’d certainly encourage! Before clicking on that enticing link, however, here’s the TL;DR version: reputation is the lifeblood of your business, and you should be doing everything in your power to safeguard and enhance it.
Social media can be a valuable device for communicating with customers and swiftly tackling any issues they might have. If there’s an ongoing problem with one of your products or services that seems to have attracted a raft of negative attention, why not create a specific hashtag? This will enable you to address the grievances efficiently and keep the disgruntled mob at bay!
Social media is also a great method highlighting positive reviews or comments. There’s nothing wrong with a bit of humblebragging once in a while. If someone’s got something nice to say about your company: celebrate it.
Targeted advertisements
Creating an advert on social media is alarmingly simple, and there are a myriad of different ways to produce dynamic content; from eye-catching photos to interactive videos. Perhaps the main advantage of choosing this medium to promote your wares is its flexibility and the ability to fine-tune your output to suit a specific targeted audience. You have the tools to identify your customer base and sculpt campaigns that will inspire and engage.
Does research suggest that your primary demographic is 30-40s professional males? Your adverts need to occupy the headspace of this target group.
The power of analytics
The majority of social media platforms come fully-equipped with their own analytics tools—which can provide you with precious data about the performance of your various channels. Follower counts, engagement and click-through rates are all able to be monitored through this valuable software.
You are then able to analyse these figures and ascertain what flavour of content is sparking the interest of your followers; what are they responding to and what kind of posts are encouraging them to click? With this information you can adjust and tailor your marketing strategy to correlate with your followers’ habits. How fiendishly clever of you.
Competitor research
Social media isn't just a helpful tool for engaging with your customers–you can also use it as a means of keeping a watchful eye over your competitors.
Find rival businesses and click that follow button; identify what marketing strategies work for them...and what is less successful. Perhaps they created a targeted post that ignited a sea of positive engagements. How could you craft similar brand-specific content that might trigger comparable results? Learn from their mistakes and take advantage of their wins.
And if that feels like a dastardly underhanded approach; feel safe in the knowledge that any social media victories your business might have had, you can be sure that a competitor will have been taking note!
What are the disadvantages of social media for business?
The drawbacks of social media are largely dependent on which platform you’re using, but there are some universal downsides to consider. Perhaps the most obvious negative is cost. To properly manage multiple social media accounts can be a time drain on your working day—and, if you’re planning to outsource the responsibility, that drain quickly shifts to your marketing budget.
While the initial outreach generated from that investment is generally worth the effort, social media investments offer diminishing returns over time.
Another potential stumbling block for your business being on social media is the prospect of bad publicity. Even something as innocuous as a spelling error or factual inaccuracy in your social media posts can invite negative attention—not to mention paint your company in an unprofessional light.
Also, however neutral your company stance is, there’s a very strong possibility that your opinions, no matter how vanilla, will encounter backlash. Internet users aren’t always famed for their nuanced reaction to seemingly apolitical or non-controversial topics, but there’s always one. Is this a minefield you want your business entering? Can you handle being publicly shamed for daring to post a contrary viewpoint?
Perhaps one of the trickiest aspects of social media to navigate is the influence of your followers. Despite the all-conquering power of Twitter, Facebook and all their networking brethren, its users will always only represent a small fraction of your customer base. But boy can they be the most vocal!
The issue with this paradox is that it can give you the wrong impression about the optics of your business. Just because you discover online that someone has an opinion about your product or service, doesn’t mean that it’s a widely held view among your customers. Indeed, paying too much heed to the hivemind of social media platforms is rarely a smart idea for you and your company.
Finally...
Is social media right for my business? What platforms would work well for my brand? These are both important questions and ones that we can certainly help find answers to. Why not drop us a line and discover how our talented team of social media whizzes can set you on the right path.
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Posted on November 11th 2021
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