Social media is now a common part of people’s lives, but it has also become an integral aspect of modern business. This makes sense because businesses want to be within easy reach of the people to whom they communicate and sell.
There is also the fact that social media has made it easy for companies to keep in touch with their rivals and peers while staying updated on legislation that impacts their work. No matter what industry or sector a company operates in, having a social media presence is hugely important for modern businesses.
Studies indicate that 64% of Twitter users and 51% of Facebook users are more likely to buy from a brand that they ‘follow’. Additionally, over 50% of Twitter users are likely to recommend brands and products on the platform. These figures alone indicate the importance of companies having a social media presence, as people buy from and recommend brands that they know and trust on their favorite social platforms.
Know which social media platform is right for you
While it is never too early for a company to develop its social media presence, it is helpful to know who its audience is and understand what its brand is about. Understanding these factors makes it easier to create a communication plan, deliver consistent and relevant content and reach out to an audience in the most appropriate manner.
There are many different social media platforms to choose from, and each platform has its own characteristics and benefits. Some platforms are more suitable for certain businesses than others:
- Facebook – the most popular social media platform in the world, Facebook is ideal for companies looking to engage their audiences and develop their brands.
- Twitter – this social media platform is highly regarded for news and information as well as instant engagement, and it is ideal for companies looking to be an authority in their industry.
- Pinterest – this highly visual social media platform is ideal for fashion and furniture companies looking to showcase their products and demonstrate how these items can be used alongside other products.
- LinkedIn – this is regarded as the leading social media platform for businesses, and any company that operates in a business-to-business (B2B) environment will find LinkedIn to be essential for networking and developing genuine contacts.
Benefits of using social media for your business:
- You are always present and available.
- It is possible to communicate directly with your audience and have a conversation.
- You can develop your brand.
- Analyzing social media usage provides information about users and what they want to see from you.
- It allows you to stay in touch with rivals and know what is happening in your industry.
- Your strategy doesn’t have to be expensive, and it can provide a strong return on time and money.
The way that a pharmaceutical company utilizes social media is very different than the way that a company operating in the music industry performs. A pharmaceutical business will likely be posting news stories and promoting the tangible benefits of its services. A music industry-oriented company should be engaging its audience with videos and discussing the latest releases and news about forthcoming shows and tours.
Direct communication is essential for businesses
The messages shared by individual companies may be different, but all businesses can benefit from having direct communication with their customers. Whether this means sharing breaking news or looking to receive instant feedback from relevant parties, sites such as Facebook, Twitter and Instagram are invaluable for companies of all kinds.
The music industry is an ideal example of a professional sector that needs to use social media. While companies and artists should use these platforms to engage directly with their audiences and fan bases, social media also allows industry professionals to be aware of relevant legislation and breaking news that may have an impact on them and their actions.
While bands, artists and labels should speak directly to fans, people involved in the industry must know what other artists and labels are doing. Music industry insiders are a great source to keep up-to-date with the latest music industry news and through setting up lists, following the right accounts and knowing which music news sites or aggregators to study, these professionals respond to real time information to benefit their business.
With social media platforms intrinsically linked to every aspect of modern life, it is essential for businesses to have a social media presence in the current economic climate. Any company failing to create an effective social media strategy will undoubtedly be left in the shadows.