An increasing number of businesses are using at least one social media platform. The number of small and medium businesses has increased from 31 to 48%, and large businesses and corporations have increased from 59 to 79%, according to a study conducted by the digital experts, Sensis, and published in the 2016 Social Media Report. After interviewing 800 Australian consumers and 1,100 Australian businesses, the report definitely showed that the gap between the two groups’ presence on Facebook is considerably narrowing.
What Does This Mean for Businesses?
First, this study shows that businesses of all types and sizes are becoming more familiar and comfortable with social media and adopting it as a business strategy. However, small and medium still lag far behind larger ones in implementing its use.
Research has also shown that consumers are also utilising social media at an increasing rate. Almost 60% of the people surveyed access social media at least once a day. 26% of those surveyed access social media at least five times a day.
Social media platforms have obviously become a regular part of people’s lives. So, it is logical to capture consumers’ attention through them. Businesses can do this in a variety of ways, including advertising, writing organic posts, and offering discounts, giveaways or other promotions. Whichever way a business decides to go, it is imperative that they develop a strategy first and have a clear understanding of the return on investment they want.
One way to accomplish these goals is for businesses to know their audiences. For example, 18-29-year-olds tend to prefer visual platforms such as Facebook, Instagram, and Snapchat while people in the 40-49 age range use Facebook, Instagram, and LinkedIn.
Small and medium businesses have the opportunity to increase their social media presence to reach their target audience and increase sales. But, to do so, their content needs to be relevant, up-to-date and targeted.
Findings of the Study
This study showed some key findings. First, consumers are likely to trust brands with which they can interact positively via social media, provided their content is engaging, relevant, and updated frequently.
Facebook is currently the dominating platform for businesses to advertise. However, LinkedIn, Twitter and Instagram are all making great headway in this area.
Faith in the efficacy of social media is growing. 61% of small businesses. The number is businesses that believe their social media presence will help their sales increase has improved across the board.
Businesses are also seeing a measurable Return on Investment (ROI) for their social media efforts. Although the number is still relatively low for small and medium businesses at 21% and 27% respectively, it is significant for large businesses that have seen an increase from 29% to 61%.
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