There’s still some skepticism around whether it’s effective for local and small businesses. We see big name brands like Nike, Apple and Starbucks using social media and having huge success. The evolution of social networks in the past 10 years has been truly remarkable and the question is can small businesses use social media to grow their businesses?
Of course smaller businesses can benefit from social media.
Social media networks allow smaller sized companies to compete with larger companies and gain more customers. There are plenty of statistics that show just how useful social media is for businesses of all sizes.
A study taken out by Social Media Examiner in 2015 had 3,7000 marketers take part. The actual impact that social media had on their businesses can be broken down into these benefits below.
Increased website traffic.
70% of marketers found that using social media increased their website traffic while 75% of businesses engaging in social media for a year or more reported an even bigger increase in traffic.
Encouraging potential customers to leave one social media platform and visit your website is not an easy thing to undertake. Engaging content and well-thought ads can help encourage customers to visit your website.
Increased business exposure.
An astonishing 91%, gained more exposure and this was the top benefit that marketers participating in this report saw. Many of the respondents stated that just 6 hours per week invested in social media activities created an increase in exposure. Staying current with customers and new customers is an opportunity for companies that Social Media helps with.
68% of marketers felt that social media gave them a better insight into another side of the market that they did not know. Social media allows businesses to see their consumers, competitors and target audience from a different angle.
You are able to see who else they interact with, what their favorite films, TV shows are and even where they are or work, when they check-in to a location.
Loyal fan base.
B2C marketers (73%) were more likely to develop a loyal fan base than B2B marketers (63%). Businesses that communicate with customers who have sent messages in will show audiences that they care about their customers and this allows to form an online friendship which will lead to a loyal customer fan base.
B2C v B2B.
B2B and B2C businesses may be using the same social media platforms, but their efforts are different between platforms and what they consider to be the most important.
Here are some statistics that show the impact of social media:
- Social networks earned an estimated $8.3 billion from advertising in 2015
- 38% of organisations plan to spend over 20% of their advertising budget on social media channels in 2015, up from 13% a year ago
- Just 20 Fortune 500 companies regularly engage with their customers on Facebook, while 83% have a presence on Twitter
- People aged 55-64 are more than twice as likely to engage with branded content than those 28 or younger
- Google processes 100 billion searches a month, an average of 40,000 search queries every second
- 89.3% of all internet searches are carried out by Google
- Facebook adds 500,000 new users every day; 6 new profiles every second
- There are 40 million active small business pages
- But only 2 million of those businesses pay for advertising
- Facebook is responsible for 62% of social logins made by consumers to sign into apps and websites of publishers and brands
- 500 million people visit Twitter each month but do not log in
- There are 500 million Tweets sent each day - that’s 6,000 Tweets every second
- Twitter’s top 5 markets account for 50% of all Tweets
- It took 3 years, 2 months and 1 day to go from the first Tweet to the billionth
- 68% of companies with 100+ employees use Twitter for marketing
- 77% of Twitter users feel more positive about a brand when their Tweet has been replied to
- LinkedIn has 400 million members
- 25% of those access the site on a monthly basis
- The average CEO has 930 LinkedIn connections
- Over 3 million companies have LinkedIn accounts
Social media marketing isn’t just about blasting out your new content post across networking sites. It’s about forming a presence and adding value to your target audience. It’s extremely hard to do that if a business tries to take on all social networks at the same time.
A lot of businesses make the mistake of trying to take on too much too soon, as tempting as it is to jump into the social media, businesses need to take time and dedication to two or three social networks at a time. It could end up doing more harm than good, it is not another marketing channel where you can just promote yourselves, and expect to win business a strategy needs to be put in place.
If this all sounds like a lot to consider, The Modern Agency have three simple levels of service to take care of everything for your business, with a number of additional services to ensure your really get the most out of your investment in social media.