Operating in the digital global business environment is the new normal entering into the 21st century.
The corona virus pandemic has forced many businesses to create new business models that enable them to operate online, in order to remain relevant and maintain satisfied customers, whose outdoor movements have been curtailed due to global pandemic restrictions.
The current digital landscape provides tremendous opportunities for businesses to grow and maximize return on investment (RIO) on a global scale.
While some small businesses pivoted online, countless others have not yet tapped into the endless possibilities that the digital environment provides, mainly because they are digitally challenged or the resources to do so.
As a result, many small business owners have been caught off guard without a plan to function in a global crisis such as the corona virus pandemic.
With over 4.20 billion social media users globally at the beginning of 2021, social media marketing is no longer an option but a must to grow your business as social media is the driving force behind strategic business decisions in this era.
The significant losses faced by many businesses, including complete closure during the pandemic is a huge lesson and an important indicator that now is the time to pivot online in order to remain viable in the global business environment.
Social media marketing is an excellent strategy to grow your business, but choosing the most appropriate platforms must be given serious consideration, as there can be low return on investment (RIO) or tremendous financial losses if social media network strategy does not support business goals.
The power of social media causes adjustment in personal and corporate behavior on a global scale but not all social media networks will yield the desired marketing outcome based on the type of business, target audience, content requirements, and your overall goals and objectives.
Here are some strategies to incorporate into your business plan in order to select the best social media networks to successfully market your business:
Although social media marketing is recommended as priority in the current environment, being clear about WHY you want to incorporate social media into your business plan is critical, since social media serves many purposes and can assist businesses to realize myriads of marketing objectives which include:
- Creating brand awareness and build brand loyalty
- Interaction with target audience
- Customer relationship management (CRM)
- Promote products and services
- Drive traffic to website
- Increase sales and maximize return on investment (RIO)
There are over one hundred social media networks documented globally at the start of 2021, based on public data which make marketing and advertising possibilities endless, but not defining your company’s goals and objectives to see which social media will help you achieve them will be work in futility.
Knowing your niche or who you are trying to sell your product or service to is an important element in your social media plan. Social media serve a vast array of functions that people access, such as, sports, news, entertainment, shopping, education, or just interaction among friends and family. Therefore, knowing your audience’s social media behavior will help you to narrow down to the best social media network for your business rather than spreading resources thin and yielding little or no return on investment (RIO).
There are over one hundred popular social media sites documented at the start of 2021 with the following 12 platforms at the top of the list, ranked based on active users worldwide : Facebook, You Tube, WhatsApp, Facebook Messenger, Instagram, WeChat, TickTok, QQ, Douyin, Sina Weibo, Telegram, and Snapchat.
Being armed with this information coupled with the purpose and demographic they serve best will help you to identify your target audience and where they hang out, since social media is also defined by demographic use such as gender, age, race, andlocation. Demographic data is also an important point to begin when trying to ascertain which network you should use in your social media marketing plan.
Understanding the skills and talents required to manage your social media marketing plan plays a pivotal role in achieving your goals.
Each social media network functions differently and therefore requires different skillset to successfully execute plan.
For example, platforms such as Facebook, Instagram, and You Tube, share photos, videos, and other media while networks like Twitter, Reddit, Quora, Digg, and Clubhouse facilitate the sharing of news, information, and opinions.
These platforms are excellent for marketing your business but understanding how to produce content and acquiring the right talents to execute the creative works will be highly beneficial to your business.
Social media create value by bringing people and businesses together in one space and enable a synergy that exchanges those unique values.
With this in mind, it is important for your brand to possess the ability to sell products and services via these networks, maintain satisfied customers, and optimize brand awareness in an effort to consistently attract new customers and positive reviews, while addressing negative ones in a timely manner.
Social media management can be highly time consuming and costly, to launch, create fresh content that is optimized for each network, and interact with audience on a consistent basis based on the size of your business and social media goals.
Therefore, in order to execute a successful social media management plan, knowledge of the costs involved to access creative skills and resources is paramount.
The process can be less costly and seamless if you start your research by using the internet which provides easy access to a vast body of free information on social media marketing.
If you do not possess the skill set within your company, hiring social media professionals to execute this important plan is highly beneficial.
Social media management is a growing field, and professionals can be hired via referrals, employment agencies or the internet on a part time or full time basis based on your goals and budget.
Analyzing your competitor’s social media use is also an inexpensive way to begin your research.
Choosing the right social media network and creating a plan to execute a winning social media marketing strategy for your business is very vital to saving you valuable time and resources.
Once you establish the social media network that is best for your business be strategic about how and where you invest your resources in order to fulfill your expected return on investment (RIO) and achieve your company’s overall goals and objectives.
For more information about choosing the right social media network for your business please leave comments below.
Caren Waugh is the CEO of CW Media Consultants, a proven communications and social media strategist, blogger, and print media contributor who helps small businesses to craft strategies and messaging to grow their businesses on social media.
