Is Social Media A Good Opportunity For My Company?
Ninety-two percent of consumers now claim that they trust social media above all other forms of marketing. Businesses are clambering to make social media the hub of all their advertising, but is social really right for your industry? With social media use climbing in 2019 with no signs of slowing down soon, we give you a rundown on the industries doing social media right.
By Alannah Fleming, 16 August 2019
At The Zen Agency we always get met with the question, “Is Social Media a Good Opportunity for My Company?” Social media marketing can be a wonderful investment, but the question is, is it right for your industry. While no size fits all in digital marketing, and the most surprising of businesses can get their break on social media, there are some industries better suited to social than others. This is why we have compiled a list of the industries killing it on social in 2019, with guidance on how you can to!
Social media use has climbed in 2019, and it doesn’t look to be slowing down any time soon. What has changed however is that brand spending on social media is rising, and having a social media strategy is now more vital than ever.
Did you know that according to the Edeleman Trust Barometer precisely ninety-two percent of consumers claim that they trust social media and word of mouth above all other forms of marketing. Because of this many industries have rushed to make social media the hub of all their advertising and they have done so successfully. Interestingly enough, those businesses aren’t always of the business to consumer category. Recently, more and more B2B businesses are choosing to carve out their own path on social. Social media marketing can work for anyone, but some industries have excelled more than others.
Consumers use social media to seek out information, content and creativity. This is why consumer products such as clothing, cosmetics, home décor, electronics etc. perform particularly well on social. Large and small retail companies thrive by using social media as a means to get feedback on new products and fix customer complaints before they become major issues. Top brands are able to use social media to connect with their target market worldwide while building a strong and loyal customer base. Viral posts and positive engagement from brand evangelists on social make for a cost-effective advertising strategy which can lead to subsequent sales. For retail businesses on social media, good customer service and the creation of a positive feedback loop is the key to success.
In 2015, posts from the entertainment industry made up over 60% of posts on Facebook. Entertaining content drives engagement on social, so no industry is better suited to success on social than the entertainment industry. In recent years, social has become a fundamental part of digital marketing for entertainment companies, so that they can share relevant information from photos, live videos, trailers, interviews, behind the scenes etc. to build engagement and buzz around new releases. Social media platforms allow these companies to build communities of people who will engage with them on-site, liking and sharing their content. This allows them to create strong branded experiences for these people, increasing growth and impressions for their channel.
Restaurants either sink or swim on word of mouth. This fact is amplified by social media, a study by Yahoo found that by 2009, 70% of restaurants were listed on Yelp and that their current rating significantly influenced their revenue. Because of this reality, restaurants have flocked to social to get ahead of the tide. 8 out of 10 restaurant operators are now use social media marketing to benefit of the positive correlation between reviews and revenue. It is well known that people like sharing photos of their food, but did you know that because of this social media user dine out more often? This is why many of the restaurants are now using social media to create viral campaigns and mouth-watering posts. Through tagging and engagement restaurant operators can quickly build a good reputation, an endeavour that used to take months or years.
Until recent years, social media marketing was underutilized by the manufacturing industry. B2B brands have tended to steer clear of social, however with advancements in lookalike and matched audience on Facebook and LinkedIn social media advertising has become a much more viable option. While LinkedIn is tried and tested for building strong business relationships and Facebook for content distribution, YouTube as an educational platform remains largely untapped. This knowledge has lead to manufacturing companies moving into social media, as a means to educate their buyers and potential partners on new products, training guides and trade shows. In the manufacturing industry social media is best used for leveraging content to establish your business as a resource for information and a thought leader.
The lasting impact of social media makes it the best amplification tool for events companies to ensure long term results. These businesses can benefit from social media marketing in three respects; pre-event, during the event and post-event. This is the case for both B2B and B2C companies. Before the event social media can be used to announce it, and create a buzz around securing a ticket, messages and ads can be targeted to the right audience and influencers employed to drive reach and impressions. Once your audience is in attendance, encouraging social media posting through interactive stalls or activities can be beneficial. Companies are also advised to have someone live-tweeting, answering questions and posting videos in real-time to engage with active attendees. Post-event, data can then be collected on these people for future targeting and to create an ideal customer persona. Companies can keep the conversation going after the event to gather feedback for optimisation. Social media is a brilliant way to garner engagement and get cost-effective events promotion.
No two businesses are the same, but any business can harness the power of social media so long as they have something of value to say and they know how you want to execute it. Social media marketing can be the quickest and most holistic way to build awareness, and with the right amount of effort, any company can reap the benefits.