Social media is an engrained pillar of communication in our modern world, and without it, our world would look different today. It enables us to communicate with people all over the world, finding likeminded individuals and communities, and engaging us with hours upon hours of content. Especially among the younger generations, social media is becoming the main form of communication, other than verbally talking to one another.
42% of our total population uses social media, such as Facebook, Instagram, LinkedIn, snapchat and many more, meaning that 3.2 billion people can be accessed through these channels (Smith, 2019). Users spend an 2 hours and 22 minutes a day on social media, and Facebook earned a staggering 9.16 billion USD in ad revenue in 2017 (Smith, 2019). This shows that social media marketing is a growing market, and here to stay. The benefit of social media marketing is not only a large audience, but also a targeted audience. This is because due to data collection, people interested in your product can easily be targeted by advertisements. Additionally, it builds brand awareness and loyal followers. Successful accounts such as slimjim on Instagram or Wendy’s on Twitter have amassed hundreds of thousands of followers, providing them with an awareness across the globe, and inciting customers to purchase their products.
As I personally either want to work in a large business or start up later on in life, I can only highly recommend any business to work on finding a social media strategy that works for them. Creating an engaging community is a great way to build a brand and set up the company for future success, just by customers being aware, and loyal to the brand through effective social media marketing.
Credits to:
Smith, K. (2019). The Importance of Social Media in Business for Entrepreneurial Success. [online] Digital Marketing Blog. Available at: https://www.lyfemarketing.com/blog/importance-social-media-business/ [Accessed 8 Mar. 2020].
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