Social media isn’t going anywhere. An estimated 30 per cent of that time is spent on a social media channel. Yet a 2017 survey conducted by Clutch revealed that 24 per cent of businesses aren’t on social media. That number may seem small (approximately one in four), but if you’re within that 24 per cent , you’re competing against the other 76 per cent, all of whom have the potential to engage their target market on a daily basis.
Compared to traditional advertising, social media advertising allows for a far more targeted campaign, refining your ad to your ideal avatar (defined by their age, locality, etc., and with Facebook ads, even their interests). Where traditional advertising takes a shotgun approach, social media advertising offers precision. Getting in front of your customer – and even better, having them follow you – offers you greater opportunity to engage and promote your products and services on a daily basis, offering you results at lower costs.
Yet, surprisingly, of that 75 per cent of businesses that are on social media, a third of them aren’t engaging with their audience or making use of the power of advertising. That’s a lot of money being left on the table, and a lot of business going to waste. For any business operating in 2018, the question should be where are their customers, and how much more business could they be doing.
Where to begin with social media advertising
Many business owners become overwhelmed when thinking about social media. That’s an understandable reaction. But where they’re going wrong is thinking immediately about the macro before they’ve addressed the micro. Both are important, but the macro can leave you with analysis paralysis. It’s best to begin simple and address a few key points from the onset.
Take some time to research where your ideal customer spends their time online. Where they are depends largely on their demographic and interests, and the service or product you’re selling. You may find your consumer base active on all platforms, (Facebook, Twitter, Instagram, etc.) but some platforms may yield higher returns than others.
Also, how much time and money can you afford or are you willing to invest? Each social media platform offers different ways of reaching your market.
Having a strong presence and following on one social media platform is far more beneficial than taking a shotgun method and having twenty underperforming profiles. Once you have one or two performing well and generating interest in your business, you can then begin to branch out and brainstorm how different types of content could be incorporated into your social media marketing.
A final thought before getting social
Social media is somewhat of a living, breathing entity. An important part of successfully using it for your business is to experiment, and to track and measure results. Keep an eye on the content your audience engages with, what days and times they’re engaging with it, and through what platforms. Replicate what’s working and refine what isn’t.
What works today may not work next week, and what works for some may not work for you. Nevertheless, social media will be an important part of the growth of your business, and the sooner you begin building it into your marketing, the sooner you’ll reap the rewards.
Nathan Sinnott, Chief Executive Officer, Newpath WEB
