Social Media and Your Business

The social media scene has taken the world by storm. It is not enough for companies to solely advertise via traditional marketing channels such as television or direct mail and email. Instead, the inclusion of social media helps to tie all channels together, so as to provide a cohesive marketing and communications strategy. While the Internet may seem daunting, using the social media tools available to boost customer engagement and loyalty is key – especially as users of the Internet, and specifically social media, continue to rise. In fact, according to Perrin (2015), “65% of adults now use social networking sites – a nearly tenfold jump in the past decade.” And specific to generations, such as millennials age 18-29, “that figure hits 90 percent” (Kraft, 2016).

Figure 1: Pew Research Center’s graph depicts the increase in social networking use among Americans over the years (Perrin, 2015).

So, what exactly is social media and why is it important for your company? Well, before we dive into identifying which social media platforms are available for companies to use and how to allocate marketing resources, let’s talk engagement.

Social media is engagement. Or according to Merriam-Webster (2016), social media is defined as: “forms of electronic communication (as Web sites for social networking and microblogging) through which users create online communities to share information, ideas, personal messages, and other content (as videos).” These “forms of electronic communication,” or social networks, allow companies and users to interact with one another. The American Marketing Association’s Common Language in Marketing website states that a social network “gives users a chance to connect with one or more groups of friends, colleagues, etc., facilitating sharing of content, news, and information among them” (Social Network, 2016). Through social media, companies can communicate with users and customers, creating and fostering engagement and interaction through two-way conversations. This is the power and heart of social media – creating and maintaining meaningful consumer relationships. Companies can leverage social media tools in order to establish online communities of engaged consumers.

Now, let’s get into examples of social networks. However, you should brace yourself – there are many. They include Facebook, Twitter, LinkedIn, Google+, YouTube, Pinterest, Instagram, Snapchat, Meerkat, Periscope and more. In an effort to not have this blog post go on for forever, I want to get into some detail about “the big four” of social media. Of course, the big four changes yearly, but back in 2014, they included Facebook, Twitter, Google+ and Pinterest, according to Moyers with Social Media Today.

Facebook is a very popular social networking site. Consumers and companies can create profiles, upload photos and videos, send messages and more, all in an effort to keep in touch with family, friends, colleagues and consumers. Twitter, on the other hand, is a microblogging service, where users broadcast “tweets,” or short posts that can only be 140 characters in length. Users communicate through tweets in order to stay connected and keep in the know through the exchange of quick and frequent messages. Google+ builds off of individual Google accounts and is said to be similar to Facebook. However, the platform is different in how users can share information and interact. With Google+, users can set up social circles and share specific information with those defined social circles, rather than everyone on Google+. Last but not least, Pinterest took social media to another level. The social site allows users to create visually appealing “boards” by “pinning” images or videos. Pinterest is essentially a visual bookmarking tool.

While the big four helps companies establish relationships with consumers, they (and social media in general) offer a plethora of benefits from a business standpoint. By investing in social media, companies can leverage platforms in order to (Robshaw-Bryan, 2014):

• Help deliver better customer service
• Drive brand building and differentiation
• Manage brand reputation
• Increase trust in your business or brand
• Obtain authentic and real-time customer insights
• Promote content
• Keep customers engaged with your business or brand
• Drive website traffic

As you can see, the benefits of social media are plenty. And as previously mentioned, there are numerous social media platforms available, which can make the selection process quite overwhelming for marketers. However, identifying which social media platforms to use and how to allocate marketing resources comes down to a business’s social media marketing objectives, goals and target audience. There is no right or wrong when choosing one or many social media platforms to use. So long as you are fulfilling your company objectives, meeting goals and talking to the right consumers, the adoption of a social media site or sites is solely based on the company. For example, if the majority of your target audience spent their time on Facebook and Twitter, it would then behoove you to have a Facebook and Twitter presence, and not necessarily Instagram or Pinterest. Due to limited resources that most marketing departments have, while it would be nice to post content to numerous social sites, this just is not possible. Further, it is not that easy either finding your target audience on social media. While there is a host of data that points to which generations use certain platforms, the fact remains that choosing social media sites to be a part of might be approached with trial and error.

Take for instance a company that sells women’s shoes, targets women of all ages and their website relies heavily on images of shoes. In that case, dedicating resources to build up a Facebook, Pinterest and Instagram account makes sense. If, for example, another company focuses on professional consulting services in the B2B sector, then creating and maintaining relationships via LinkedIn and Twitter makes the most sense. With both of these fictitious companies, paying attention to the target audience is key. Should both companies have a goal of maximizing communication with consumers in a timely manner, then utilizing social media allows both to respond to consumers immediately, thereby boosting positive customer service and loyalty.

Once you have decided which social media tools to use, what then do you share with consumers to foster positive two-way conversations and engagement? Meaningful content that sparks conversation. It is this “spark” that fuels dialogue between companies and consumers so that engagement via social media can take place. And with this engagement comes all the benefits for your business as previously mentioned. As Doctorow says, “Conversation is King, content is just something to talk about” (Novak, 2010). Content shared on social media should have action, emotion and a personal touch to get the conversation going. According to Novak (2010), “Our world is shaped by the relationships and conversations we have with other people – by the emotions we feel as well as the information we receive.” When crafting content, or messages, for social media, companies should consider if the content is a conversation starter, who they want to interact with as a result of putting the content online, how will the conversation continue and more.

Social media is meant to be fun and engaging, for both companies and consumers. Enjoy discovering social media and what it can do for your business!

References

Kraft, A. (2016, January 5). Social media sites you’ll be seeing more of in 2016. CBS News. CBSNews.com. Retrieved from http://www.cbsnews.com/news/social-media-sites-youll-be-seeing-more-of-in-2016/ 

Merriam-Webster. (2016). Social media definition. Retrieved on May 30, 2016, from: http://www.merriam-webster.com/dictionary/social%20media

Moyers, S. (2014, August 28). Getting the most out of social media’s big four. Social Media Today. Retrieved from http://www.socialmediatoday.com/content/getting-most-out-social-medias-big-four

Novak, C. (2010, July 27). Why conversation, not content, is king. Social Media Today. Retrieved from http://www.socialmediatoday.com/content/why-conversation-not-content-king

Perrin, A. (2015, October 8). Social media usage: 2005-2015. Pew Research Center. PewInternet.org. Retrieved from http://www.pewinternet.org/2015/10/08/social-networking-usage-2005-2015/

Robshaw-Bryan, S. (2014, February 13). 8 compelling reasons why you should be using social media. Social Media Today. Retrieved from http://www.socialmediatoday.com/content/8-compelling-reasons-why-you-should-be-using-social-media

Social Network. (2016). Common language in marketing. American Marketing Association Retrieved on May 30, 2016, from: http://marketing-dictionary.org/ama