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The Business of Social Media

Social media is extremely relevant today, and the business of online is booming. It is easy for anyone to create an account and start a social media profile. Hootsuite states, “as of 2018, there are 3.196 billion people using social media on the planet, up 13 percent from 2017 to 2018.” (Cooper, 2018). While this is a gigantic statistic, social media users will continue to grow.

https://blog.hootsuite.com/social-media-advertising-stats/

For a business, a strategic plan aligning with the mission statement, values, and goals is vital on social media. Quality content on the organization’s pages is critical and maintaining the company brand is important throughout all platforms. Lehr states that “if you want your content to do well on social media, you’ve got to be strategic about what you publish and when you publish it.” (Lehr, 2015). Social media can influence an organization on many levels. The most significant is gaining revenue. It is a business after all. Another way that social media can influence is brand awareness. Once people start viewing your products online, they will recognize your brand. A few ways to gain brand recognition are:

  • Impactful Campaigns
    • Impactful campaigns on social media are important when representing your business. Strong campaigns relate to the target audiences. Before you publish any campaigns to the public, you need to make sure you participate in environmental listening. A brand can learn a lot about themselves if they listen to what is being said about them.
  • Strategic Planning 
    • Is your company updating your posts in a timely manner? Are they being posted at the time that would receive the most traffic? “Different platforms attract different audiences. Plus, each one has its own “secret sauce” of when to post, and how often” (Zantal-Wiener, 2017). Also, one important item to note is that all platforms should not be treated equally. Each platform can sometimes have a different audience as well.

From my personal experiences, I work in talent acquisition marketing. I advertise to the public about available positions at my current company. I have increased the quality of hires from the content I have placed on our company’s LinkedIn page. Our brand is in the construction industry and I utilize the platform to humanize the brand. It can aid in showing transparency for the position to our future candidates. Lipschultz notes that “when people say that there is a need for more engagement within social media, they may not understand that stronger relationships are built upon transparency” (Lipschultz, p.52).

https://www.edupliance.com/webinar/creative-ways-to-use-linkedin-as-a-recruiting-tool

Social media is also important in the current business environment. In most cases, it is the most efficient way to get the news out about a company. For example, during crisis situations, a statement from the company should be released immediately. An example of a fast response is the 2018 KFC crisis. In Britain, KFC ran out of chicken. The company’s witty response included, “the chicken crossed the road, just not to our restaurants” and released a limited menu on their website (de Freytas-Tamura and Tsang 2018). KFC’s response was timely and addressed the problem that closed almost half of their 900 locations (de Freytas-Tamura and Tsang 2018). Without social media, it would have taken a longer time to get the message out and the company would have had a lot of angry customers.

https://www.nytimes.com/2018/02/20/world/europe/kfc-chicken-uk-shortage.html

Social media is an important tool that should be utilized in all organizations.

References

Cooper, Paige. (2018). Social Media Advertising Stats that Matter to Marketers in 2018. Hootsuite. Retrieved from: https://blog.hootsuite.com/social-media-advertising-stats/.

de Freytas-Tamura, Kimiko and Tsang, Amie. (2018). New York Times. Retrieved from: https://www.nytimes.com/2018/02/20/world/europe/kfc-chicken-uk-shortage.html.

Lehr, A. (2015). New Data: What Types of Content Perform Best on Social Media?? Hubspot. Retrieved from: https://blog.hubspot.com/marketing/content-social-media-popularity.

Lipschultz, J.H. (2018). Social media communication: Concepts, practices, data, law, and ethics. New York: Routledge.

Zantal-Wiener, A. (2017). Planning Social Media Content? Ask Yourself These 9 Questions. Hubspot. Retrieved from: https://blog.hubspot.com/marketing/planning-scheduling-social-media.

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