December 17, 2015

Social Media for Business: What You Need to Know


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Social media has become the hotspot for young people to receive their news, content, and information. And now, more and more companies, marketers, advertisers, and influencers are using social media to strengthen brand loyalty and increase brand following. And while the platforms have become a way to reach new customers, engage with an established fan base, and attract new business, there are also downsides to social media.

However, at AcceleratingCFO, we know how important it is to be visible to your clients. And that means that you need to be on platforms where your client and customer bases frequent. So, even though social media may seem daunting, we’ve outlined a few ways to figure out if social media is right for your company.

Consider your target audience

First off, who are you trying to target? As we mentioned earlier, social media is an essential communication tool for young people. But it’s also becoming increasingly popular with older generations. Is your grandmother on Facebook? News flash: she’s not the only one. So start by doing some research on your target demographics’ social habits.

It’s also important to remember that demographics can drastically vary as you move from platform to platform. For example, Facebook has a large pool of age groups, while Instagram’s average user is slightly younger. Again, take some time to find out where your audience spends their time.

Focus on a couple platforms

Focusing on a couple platforms will give you the opportunity to cut out unnecessary marketing projects, which saves you time, energy, and money. Let’s go back to our example from above: say you are in the business of hip replacement surgery and you notice that there is a large population of older people on Facebook. Yet the same demographic has nearly no presence on Twitter. In this instance, it’s in your best interest to stick to Facebook.

By choosing a few platforms that your projected audience already frequents, you are setting yourself up for greater success. No need to sign up for Vine if your audience isn’t going to be there.

Consistent message, adaptable content

The next rule of thumb: have a consistent message across all channels, but adapt the content for each platform. To create a brand identity, your message needs to be conveyed in a clear manner. However, you also need to deliver the same content in new and interesting ways. No one wants to see the same message plastered on their Facebook wall, on their Twitter feeds, and as an Instagram caption. So take some time to tweak the message for each platform.

To sum it up, social media is a great place to get your message out. But it doesn’t have to be overwhelming. Like any project, take the time to do your research: figure out who your audience is, where they spend their time, and then focus on a few specific platforms.

And don’t forget to create a strong brand message that can translate across multiple platforms – we should still understand what your business offers, no matter if we’re on scrolling through our Facebook News Feeds or Twitter Dashboards.

Are you prepared to handle the biggest challenges faced by business owners?

Don’t get blindsided by problems that other talented leaders have already solved.

We’ve teamed up with Dr. Hector Lozada, Professor of Economics at Seton Hall to survey business owners ranging from start-up founders to seasoned CEOs. What came out of it is a cheat sheet for sidestepping the roadblocks, bottlenecks, and challenges that plague your colleagues and competitors.

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