By Lindsey Anderson, CPA
Senior Manager, Tax and Accounting Services
Email Lindsey
Becoming a business of influence is about meeting people where they are — right now, that’s online, specifically on social media. This year expects to see an estimated 5.42 billion social media users worldwide — more than half the population of the planet. Plus, 93% of consumers believe it’s important for business brands to keep up with online culture.
Businesses are taking the cue, especially small businesses in the U.S., as 77% of them are now using social media for essential functions like sales, marketing and customer service.
Is your business using social media to its advantage? If not, here are a few benefits of entering the social media world.
You can lead people to your company. Unlike, say, billboards or print ads, social media is a free, easy way to drive traffic to your website or storefront. And there’s proof that users are out there looking for you on social media, as 50% of Instagram users interact with business brands at least once a day.
Social media analytics can increase your influence. Data from built-in analytics can give you a peek at the age, gender, location and interests, thus allowing you to more easily influence their actions and consumer choices.
You can talk directly to consumers. These days, most people are more comfortable communicating on social media than face to face. So, ask for their honest feedback, set up polls and surveys, gauge their level of interest in certain products and services. Most importantly, respond to their comments! According to Sprout Social, “73% of social users agree that if a brand doesn’t respond to them, they’ll buy from a competitor.” (This applies outside of social media as well, whether you’re emailing or calling clients.)
Among the companies thriving on social media is the language-learning app developer Duolingo. With quirky, comedic videos, the company has grown its TikTok following to millions. In this sense, it’s following the latest consumer trends, as 78% of social users prefer to learn about new products through short video content. You don’t have to make a Hollywood production out of this content — shoot a video on your cell phone!
One video idea is to showcase your community outreach efforts. Social users — and consumers in general — love to see businesses engaging with their local communities. This is another great way to become a business of influence. Follow your audience, both out on the local streets and in the vast reaches of cyberspace, and they will follow you.
If we can assist you further with your business, please call us at (317) 608-6699 or email Lindsey.