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How Important Is Social Media To Your Business?

The ever-growing popularity of social media has brought along with it a new era in marketing, a time where everyone and their mothers are active on a variety of platforms, absorbing as much new information as they can. Seems like a gift to businesses, right? Not the case for those that don’t fully understand the potential of social media, choosing to view it as more of a hassle. That’s why we’ve decided to ask Twenty York Street to guest post (via Janelle Gagné) and  show you why an online presence is in fact worth all the effort.

First things first, before going about including social media in your marketing strategy, it is crucial to have a strong grasp on your business’ strengths and goals. What’s the purpose of your company using social media? A local business for example should aim to build a loyal clientele while a large corporation should look to connect with their audience on a national scale.

Now that you’ve hopefully reached the point of knowing your own business, it’s time to look at your audience. That’s because while most of your audience are on some type of social media, they are not on all types of platforms. For instance, a younger demographic would typically be on Facebook while a clientele consisting mostly of other businesses would rather use Linkedin. Women’s magazines start Pinterest boards as sneak peaks of their articles. By tailoring your platforms, you are reaching your intended customers and creating an efficient marketing department.

 

It has never been easier to share your brand with the world. The possibilities are endless with everything from a simple tweet to a large-scale campaign can start a whirlwind of word of mouth marketing. Younger generations are becoming desensitized to the concept of traditional “shout” marketing, meaning businesses should now look at reaching their peers who will then spread the word about their products.

One trend we’ve seen in recent years: effective marketing becoming more about the conversation. Businesses can now get customer feedback first hand to use for further product development. We see customer engagement in review videos on Youtube, comments left on Twitter or Facebook pages, among other methods.

All companies aim to be ahead of the pack and with the help of social media, it’s become that much easier. Many platforms will give companies data on their average demographic, which they can then use during their product development stages.

We’ll leave you today with an interest fact: according to the 2012 Social Media Marketing Industry Report, 58% of businesses* (Source: Forbes.com) that have used social media marketing for over 3 years reported an increase in sales over that period. So why would you want your company to be the other 42%? It’s adapting to your environment that will lead to success in the future.

 

About TWENTY YORK STREET

 Janelle Gagné  is a Blogger and Social Media Intern at Twenty York Street, a Fashion and Lifestyle Blog that showcases the latest trends in fashion, style and events in the city. Janelle is a University of Ottawa translation student, a music junkie, and an all-out quirky fashionista. Follow her on Twitter @janelleg_.

Official Website: www.twentyyork.com

Facebook: www.facebook.com/TwentyYorkStreet

Twitter: www.twitter.com/20YS

 

 

 

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