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Is Social Media Valuable for Your Business?

It doesn’t seem like that long ago, that words like twitter and Facebook were superfluous and rare. Early adopters jumped in with both feet enthusiastically, but many businesses hung back. After all, an investment is an investment, and any business wants to make these wisely. But in the last five years, social media has taken on a life of its own. Businesses have seen up to 80% growth when they leverage social media as a regular practice. This spans all industries. We see personal and business accounts that are doing it right… and we see personal and business accounts that aren’t. We’re not just talking about the major faux pas like those of Coca-Cola or American Apparel. We’re talking about the timing, the content, the optimization and the partnerships.

So, the question remains- is social media necessary for your business? Short answer- yes. This isn’t a trend, it’s not a fad, it’s not going anywhere anytime soon. Research and technological advances show that it will only get bigger and more powerful as a tool to reach your audiences. The bigger question is, which platforms do you invest your time in?

What Social Media is Right For Your Business?

Yarra Web has drilled down a few major questions that you and your business should be able to answer, in order to properly leverage social media. The first, and potentially the most important is determining where your audience is? While there are dozens of tools that you can purchase to do this homework for you, it’s almost more valuable to experience trial and error. Check out this image and look at how many general users are on each of these platforms. Where do your users fit into this bigger picture?

is social media valuable for your business

Drilling down, the next question is just how many of these users are active. Sure, you can have tens of thousands of followers on any given social media site, but an alarming number of these are either fake accounts or haven’t been used in far too long, for example Instagram is a hotbed of fake activity. Neither of these will do your brand or your bottom line any good. Here are a couple of fun facts, thanks to kissmetrics– 1) Of the over 1 billion Google users, only 35% have used the site in the past month. 2) Between 67.65 and 137.76 million Facebook accounts are fake. It is mind boggling, isn’t it?

That being said- Yarra Web advocates for the big four– Facebook, Twitter, LinkedIn and Google+. Make sure that you’re instigating conversations on each of these on a regular basis, and you’ll see some sort of return. On top of these, it’s up to you and your company to research the niche platforms where your audiences are playing on a regular basis. The same site that caters to chefs and cooks, is not going to be helpful if you’re trying to launch a computer game.

Four Question Checklist

Bottom line, it’s as simple as four questions:

Keep these in mind, invest the time to do your homework right, and your business will benefit tremendously.

Questions? Comments? Give Yarra Web a shout. We’d love to hear from you!