Compared to any other time in history, this is the most convenient decade to open a business. At least, any online business can be started with a laptop and an active internet connection. On the flip side, this also means an insane amount of competition. If you can’t stand out, get ready to be slaughtered out there. Today, there is hardly any company that does not use social media platforms to promote their business. While big companies enjoy a powerful presence on all the social media platforms available out there, it is not possible for small businesses to do the same. Social media marketing demands a lot of time and effort. So, it is not prudent for small businesses, who are strapped for both, to be present on every social media platform available. But, which social media platform to choose and which to leave? Here is a guide to help you figure it out.
Purpose of Promotion
Every marketing plan is designed with a specific objective. You are trying to create awareness about your brand, launching a new line of products, increasing sales, expanding into new territory, or something else. Your choice of social media platform depends largely on your marketing objectives.
For instance, if it is a buzz generation exercise, then you should consider social media platforms that have a huge customer base like Facebook. However, if you are looking for new clients to do business with, then platforms like LinkedIn are a better choice.
Intended Audience for Promotion
A young brand targeting the millennials is missing out big time if they are not using Snapchat. There are over 100 million users on this platform with a good 60% below the age of 24. The average time spent by a user on Snapchat is 30 minutes, which is huge. Even if you can get a few seconds out of that time, you have created a successful campaign. If you are a company with young males as the primary target group (TG), then Pinterest will be a sheer waste of money. As many as 42% of the women on the internet are on Pinterest and you are advertising boyish products to them. You see the obvious problem? So, the key is to find a platform that is used by your target demographic, and go for it.
Competitor Analysis
Keeping a tab on the industry activity is always a good way to find answers to a lot of your business problems. Why? Because your competitors too will be facing the same kind of problems. It is never a good idea to follow the marketing strategy of another company blindly. But, it is definitely wise to observe the behavior of your main competitors in the business, and fine tune your efforts that will maximize your benefits vis-à-vis your competitors. See where their ads are appearing.
Also, there are many social media listening tools out there that will allow you to understand how the most successful brands in your industry manage their social media. This will give you a blueprint to create your own effective social media strategy.
Also pay heed to the type of content – video, audio, and text – that they are posting. With the change in the type of text the social media platform should also change.
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