A lot of entrepreneurs talk about boosting their business through social media, yet, they fail to realize that social media is merely a tool, without any power or effect of its own. Like any other tool, it can be used effectively or ineffectively. Nonetheless, due to its nature, using it ineffectively won’t just give you somewhat less impressive results. There’s a real threat that the backlash would leave you in a much worse position than you would be in if you didn’t even dabble in social media marketing, to begin with. With that in mind, here are seven ways social media can make or break your business.
Making your social media personality likable
No matter how illogical this may sound, it’s in human nature to make presumptions and draw conclusions from what little information they have. Sure, those several images you have uploaded don’t represent who or what you are, yet, this won’t prevent people from taking stances on your company. While likeability isn’t an objective metric, not being likable can seriously hurt your reputation and sales. This is the main reason why you need to keep your personal beliefs and stances off your business social media unless you’re 100 percent certain that they’re relevant to your industry and your business.
The social media karma
Do unto others as you would have them do unto you, is a biblical principle that’s applicable to the world of social media, as well. Think about it, why would others share your content if you’re never the one to share the content of others. This is the so-called social media karma, a powerful dynamic that you simply can’t afford to ignore. Needless to say, the above-listed example is just the tip of the iceberg, as well as an oversimplification. The most important thing you need to understand is the fact that if you want loyalty, you need to offer something of value in return.
In order to see how well you perform in the world of social media, you have to learn which metrics to follow. Sadly, a lot of people are unaware of the fact that not all metrics are equal. For instance, hits, impressions, app downloads, likes and tweets-per-minute are nowhere nearly as relevant as they sound. These are the so-called vanity metrics that can mislead you to believe that your business is performing much better than it actually is. On the other hand, metrics such as reach, engagement, conversion, activity and bounce rate are incredibly relevant. It all comes down to knowing which are which.
More efficient accounting
The next benefit you can receive from better use of social media is a more efficient accounting. First of all, accounting takes a no small amount of cooperation and coordination. This is something that effective use of social media can provide. Second, you can utilize the strength of the community, which is especially beneficial, when it comes to some quirks of the latest tax law changes. Finally, it can give you a much bigger talent pool to work with. This is something that accounting firms often work with. The number of potential applicants for these positions grows, as well, since websites like https://www.iit.edu.au/ may give even someone without any previous experience in the field a chance to become a layman accountant.
Increased brand recognition
In order to boost your brand recognition, you don’t really have to establish contact with your audience. All it takes is for your brand to sit quietly somewhere in the background and for your target audience to see your brand markings day in and day out. This is fairly simple to achieve, due to the fact that social media allows you to be a frequent visitor to groups and pages that your audience visits, as well. Leaving comments there, sharing in these groups or simply engaging is a great way to attract some attention. Seeing as how this is an inbound strategy, it’s bound to encounter less resistance.
Several times before, we’ve mentioned the fact that the use of social media may help you stay in front of the eyes of your audience. Well, this means that this particular perk also counts towards staying relevant. This means that your average user has a chance of being reminded of you every time they log into one of their social media accounts. It goes without saying that this is quite a common occurrence.
Competent social media management
At the end of the day, social media management is an important trend that can go either way. On the one hand, a competent person behind it can do wonders for your brand and your business. On the other hand, entrusting this to an intern can have devastating repercussions. Still, the latter most often results from the inability of your management to fully grasp the relevance of social media for the future of their business.
It’s more than clear that each of the above-listed has two sides, one that benefits your business and another one that actively hurts it. Sure, not using social media is out of the question but the very fact that there’s no neutral ground means that you have to be very careful.