Today, over 2.56 billion people use social media platforms. It is projected to increase to 3.1 billion by 2021. Social media is a vast indicator that more businesses are turning to these channels. Social media is a new avenue in which companies can market themselves. The increase in volume in social media platforms like Facebook, Instagram, Twitter, Pinterest, and LinkedIn have businesses keeping an eye on how to use this medium to attract more business to them.
Numbers do not lie, and with an expected increase of 3.1 billion by 2021, as a business, you cannot be left behind without a social media platform. For any business, your consumers are on these platforms every day. The smartphone explosion allows us at any moment to check our phones and jump on to these platforms.
If you do not have any type of social media platform, most consumers will not care for your product. People want to share and like and tell other people about things they love. Facebook has business pages that allow consumers to interact with your brand. People tend to be more visual, so you want to have an Instagram account to show your brand in an image form. As they say, a picture is worth a thousand words. Sometimes you need to tell your consumers something, and well, you have 280 characters to do it with Twitter.
The Power of Influencers
The power of influencers is at an all-time high. Businesses are paying hundreds of thousands of dollars for celebrities and regular people who have a high count of followers to use their products or services on their feeds and talk about it.
In a report by Ignite Visibility, it states that per follower an influencer can make $10.00 per 1000 followers or $1000 per 100,000. As a business, you want to consider taking this route to promote your product. The power of influencers can help you with your products/services to get out to the masses. This portion would have to be a part of your marketing budget. Influencers who have 500,000 to a million followers can help you with your marketing strategy. It will cost a pretty penny, but the mass engagement you will get can help boost your business to the top.
Social Media is not going anywhere. If you do not have social media platforms right now, you need to conform and get one. Chances are your competitor already have one and maybe outshining you. Check out my article on To Follow or Not to Follow your competitors another social media piece that can help better understand social media strategies.