Whether you are a large company or a small-to-medium-sized business, a well-developed social media strategy is just as imperative as having a good website and app in 2019. With a reported 3.2 billion social media users worldwide, brands need to evaluate important factors for their social media strategy in order to create brand awareness, engage with current and potential customers, provide good customer service online, and drive conversions.
In 2019, the major social media players are Facebook, Twitter, Instagram, Snapchat, Google+, and Pinterest. However, not all platforms are created equal for every brand. Here are a few questions you should ask before choosing where to build your social media presence online:
Is your brand B2B or B2C?
First, you need to determine if your brand offers business-to-business (B2B) services or business-to-consumer (B2C) to find out where to spend your social media budget and what type of content to produce. A B2B brand is likely to sell services to other businesses whereas a B2C company is more likely to sell products to their customers.
In FreshinUp’s initial evaluation of where a brand should spend advertising dollars on social media, we first focus on the common trends that B2C advertisers should invest in Facebook, Instagram, Snapchat or Pinterest, whereas B2B brands tend to perform better on LinkedIn, Twitter, and Facebook. This strategy, however, is not always the case, as there are other factors to consider such as who is your target audience and where they spending their time online.
Who is your target audience and what social platforms are they using?
When determining social platforms that are the best fit, it’s important to identify a target audience and find out which mediums they are using to consume information and engage. It’s reported that Facebook is the most widely used social media platform, but with recent user trust with Facebook in question, brands should consider other platforms as well. Gen X is still using Facebook, but millennials and gen Z are turning to Instagram and Snapchat in order to connect. While we use these trends as a general guideline, FreshinUp always uses data and analytics to make informed decisions about where to place budgets when defining the goals for your social strategy.
What are your business goals for using social media?
Once you understand what type of service your business offers, who you are targeting, and where they are spending time on social media, you need to determine what your social media goals are for your business. The two definitive types of goal sets for social media are for creating brand awareness, engagement, and customer loyalty or to drive sales and increase ROI, although many companies will have all or a combination of these goals.
So how can you determine where your brand fits in the social media sphere? FreshinUp can conduct a market analysis of who your target audience is, where they are spending their time online, and create revenue projections for both paid and organic social media platforms based on market research, competitive analysis, and our previous experience in executing social media strategy for clients. We can also provide strategy for influencer marketing programs if we feel that is a good avenue for your brand to pursue.
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