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Why Social Media Is a Must for Your Business
A little over twenty years ago, Newsweek published an opinion piece titled, “Why the Web Won’t be Nirvana”, in which the author dismissed many of the predictions of how the Internet would revolutionize our lives.
A few gems included, “Visionaries see a future of telecommuting workers, interactive libraries and multimedia classrooms… Baloney” and “Yet Nicholas Negroponte, director of the MIT Media Lab, predicts that we’ll soon buy books and newspapers straight over the Internet. Uh, sure.”
Suffice to say, the author of this article was very wrong in his predictions and in fact, every one of those predictions became a reality. However, despite the significant strides and benefits the Internet and the world of digital marketing has created, that same scepticism exists for many small businesses owners, particularly when it comes to the world of social media marketing.
For numerous reasons – misconception that it would be too costly, not enough manpower to handle it, not enough return on investments, type of business doesn’t need a social media presence, etc. – many small business owners are still reluctant or wary of fully investing in a social media marketing strategy.
While some are willing to have a Facebook Business page, maybe an Instagram page as well, there is still a hesitation to fully invest in building a solid social media marketing strategy and committing the time and money necessary to yield results. And that is a costly mistake.
In today’s digitally driven world, ignoring social media as a key aspect of your marketing strategy can significantly affect your business’ bottom line. Here are some facts to consider.
- More than three billion of the world’s population use social media. (Hootsuite)
- Social media penetration across the Caribbean region is 40 percent (for comparison, it’s only 12 percent in Central Asia and 20 percent in Southern Asia, where the populations are significantly larger than the Caribbean). (Hootsuite)
- A 40 percent social media penetration across the Caribbean is particularly impressive, as Internet penetration is only 48 percent across the region. (Hootsuite)
- According to a study done by Sherpa Marketing, more people follow brands on social media versus celebrities and 80 percent of Instagram users follow at least one business. (Hootsuite)
- Current research also shows that 60 percent of Instagram users admit to discovering new products while using the platform. (Hootsuite)
- 22 percent of the world’s entire population uses Facebook. (40 Essential Social Media Marketing Statistics for 2018 – Wordstream)
- 77 percent of millennials make a purchase both online and in-store after viewing something on Facebook. (Social Media Marketing Trends from 2018 DMA Statistical Fact Book)
- More than 58 percent of marketers who were using social media for a year or longer saw improved search engine rankings. (16 Stats that Prove Social Media Isn’t a Fad – Hubspot)
- More than half of marketers with at least one year of social media experience were generating leads with social platforms. (16 Stats…)
- User-generated content on social networks has a 4.5 percent higher conversion rate. (16 Stats…)
- Social media and video viewing are the two most popular online activities. (Ultimate List of Marketing Statistics)
- And probably one of the biggest pieces of evidence pointing to the importance of social media to businesses, is that Google now includes it as a factor in their organic search rankings. (Smart ROI)
The numbers speak for itself. Despite whatever hesitations you may have about fully investing in a social media marketing strategy, it is clear your business needs one. Because while you may not be on social media, your target audience certainly is. And they can’t receive whatever brand message you are trying to deliver, if you’re not present where they are.
Ready to start your social media marketing strategy but not sure how to? Or don’t have the time and resources? Yello can fix that. Sign up today for our social media management service and let us guide your business to social media success.