Social media has become one of the defining phenomena of the 21st century, as the number of users has been in the billions worldwide. Facebook has become the undisputed king of social media, reaching 59% of all social media users. Marketing firms and corporations have recognized the importance of displaying their products and services on social media sites and apps. Social Media’s model of complex algorithms and personalized ads help companies reach their target audience more effectively than at any other point in history. They have used it to their advantage. Social Media will continue to rise as more people in the older demographics engage with it than a decade ago.
Social media is a two-way street for communication, as corporations can engage with their audiences and receive real-time feedback and interactions with their consumer base. With the pandemic decimating local businesses and indoor shopping, the need for companies to have an online presence has become more critical than ever. Before investing in a marketing budget dedicated to social media, here are some things you should consider.
Marketing Has Become More Social
Yes, the pun was intended. But as more companies launch social media pages and channels, they have become more creative in interacting with users. Corporations have started trending hashtags or incorporating memes in their marketing strategies and have used humorous interactions with users to help increase traffic and visibility. Wendy’s has continued to use their official Twitter page to roast their competitors and users and have been up to date in pop culture references and sponsorships to promote their menus and products. Companies like Wendy’s are already established names in the fast-food industry, and we suggest you try to engage more with your audience. It helps build your brand, and your engagements don’t always have to respond to critiques or complaints. Try putting up polls and keep your social media up to date with the latest promotions or updates. Ensure your page is informative and that users can quickly learn more about your brand and company.
The Rise of Influencers
Social media has given birth to several influencers and celebrations who garnered attention through social media pages and channels. Their content has touched millions of users of different genres, from make-up tutorials to gaming to vlog diaries. Their influence over their fanbase cannot be underestimated, as people like Logan Paul, PewDiePie, and Ninja have garnered legions of fans that have followed them closely for years. Companies have invested heavily in them, as the influencer market has become a $5-10 billion industry. Approximately 20% of all companies spend over half of their marketing budget on influencers, as they have seen massive gains in traffic and visibility. It has become such a popular model for advertising that several Hollywood celebrities have taken part in it, using their official social media channels to market their brand or a company’s product that’s sponsoring them.
The Rise of Smartphones
Smartphones have simplified the world we live in today. Need to pay off a friend? Use the Venmo App. Is your Electricity Bill overdue? Nothing the banking app can’t handle. Are you too tired to make dinner? Use the delivery app to personalize your favorite meal and get real-time updates on how far your order is. The same goes for social media and marketing, as it is no longer limited to television, print media, or radio. Advertisements can happen through your tablet, smartphone, laptop, or any other device you use on the internet. The ease of access to follow their favorite channels and pages has given corporate marketing new ways to interact with consumers. As smartphone technology grows over time, with more people relying on their cell phones for internet and social media usage, businesses will garner a larger audience.Social media sites have been using personalized ads based on their users’ demographics and interests to determine which ads to target them. This tailored market approach has helped marketing firms and businesses reach their target audience relatively easily. Social media is truly the future for marketing firms, as the internet has become an integral part of our lives. Maintaining an online presence and being a part of social media would be best, as it’s more than a fad. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.