If you’re old enough to remember the MySpace days, you remember a time when the thought of a business being on social media was not only unheard of, it would’ve been considered unprofessional. Kudos to the first advisor who had the guts to stand up and say, “Why don’t we make a Facebook profile?”. That guy should be running the company now.
For those who don’t remember, social media wasn’t always what it is today – an unstoppable marketing powerhouse used by global corporations and small businesses alike. And such, for a business to NOT be on social media is almost criminal.
Let’s Get Social
For a business looking to grow its message reach, understand its customers better, and promote its products (I’m looking at you…basically every business in the world), being on social media is a must. It provides the avenue for a business to have a voice in the digital world.
Unlike a website presence which is a static entity, social media allows companies to speak directly to their customers and perhaps more importantly, it allows the customers to speak back. This dynamic interaction between company and customer increases the connection for the customer and it opens up a world of opportunity for the business to publicly address customer issues.
Sharing is Caring
Most people know how social media posts work, but if you don’t, here is a quick overview. A business makes a post on its social site, and that post is seen by all who follow the site. If the post is interesting enough, followers will share the post (i.e. send it to their friends) and even more people will see it.
The simple fact that posts can be shared is a huge benefit for businesses. It’s essentially free advertising and not only that, when a post is shared with someone by someone the trust, like a family member, it carries more weight than an ad coming from a company. So as a business you get two perks: free ads and an endorsement from a person the recipient of the shared post trusts.
Niche Market Identification
Most businesses have a good idea of what their target audience is before they go into business. But as any business owner will tell you, there exist those hidden pockets of markets that they may never have thought about. These markets are typically on the fringe of their primary target.
A good example is what happened with Elmer’s Glue around the 2016 mark. Elmer’s primary target market was the arts and crafts market, both direct to consumer and through business channels such as schools, daycares, and art studios.
But around that time, a rising began on social media regarding how to make homemade slime. If you had a kid in elementary or middle school during that time you undoubtedly know about this. Elmer’s glue was a key ingredient in the slime.
Social media allowed Elmer’s to identify a huge niche market that they never intended for their product, and if they hadn’t been involved in social media they wouldn’t have been able to capitalize on the opportunity the way they did.
Bragging Rights
Like or not, the number of followers a person or business has on social media platforms is a key marker in their trust factor. People look to social media for reassurance. If a business is lacking a social media presence but its competitors are strong, which do you think will inspire more confidence in the consumer?
Social media follower count is the twin of the customer review. While it might not pack the detailed punch of a well-written testimonial, the number of followers certainly speaks to a business’s reputation.
So of course, if a business has amassed a large following on social media, it serves as bragging rights in advertising. Likewise, if you don’t, you are already behind the 8-ball, which makes having a social media presence not only an advantage, it is a necessity these days.
