Social media is massive; there can be no debate about this fact. It is potentially the most influential sphere in modern society. Around eighty percent of the 4.66 billion people on Earth with internet access have at least one social media account. To quote Atanu Shaw writing for Forbes, “To question the power of social media in society is to question the importance of sunlight on Earth”.
Given its intense power in almost all sections of society, it is perhaps unsurprising to hear that the biggest social media platforms also serve as giant shopping marketplaces. The market is skewed towards younger, more traditionally internet-literate people: 84% of people aged 18-29, 81% of people aged 30-49, 73% of people aged 50-64, and just 45% of people aged 65 and over. In a 2019 study by Buffer, 73% of business owners polled believe a social media presence had been “somewhat effective” or “very effective”. Small business owners and entrepreneurs are realizing the importance of social media faster than ever, but how can social media make or break your business?
The Benefits of Putting Your Business on Social Media
There are many reasons to consider making a social media account or accounts to represent your business. These are just some of them:
- Increase awareness of your company – Considering that over half of the world’s population are active users of major platforms like Facebook, Instagram, or Twitter, it is common sense to make it a part of your marketing strategy.
- Attract new customers to your business – Instagram has over one billion users, as of 2021. Fifty percent of these users follow at least one business account. According to their own statistics, there are over 200 million daily users browsing the Explore page, and 83% of people in a huge survey said they discovered new products or services on Instagram.
- Show your personality – One of the strategies that many business accounts put to good use is to make their social media accounts more personal, and even humorous. Imprinting your personality and giving your business account a more authentic face builds trust with your existing audience. Taking the self-seriousness out of the equation can gain followers and attention which in turn creates more business for your company. This is called social selling, and it develops a connection to prospective customers at the same time as generating new leads.
- Partnering with influencers – Word of mouth is one thing. On social media, influencers, as the name suggests, are hugely important in deciding whether a lot of businesses succeed or fail in the social networking sphere. Influencers drive engagement with their huge followings, directing people to brands and businesses that they have been employed by. In 2021, more than two-thirds of marketers in the United States have used some form of influencer. Even more importantly, a study by Civic Science found that 11% of millennials and 14% of 18-24-year-olds had bought something in the last six months directly off the back of a recommendation of an influencer.
Other Factors to Consider
Social media presence is such a major part of modern e-commerce. Of course, though, there are other things to consider. Choosing the right niche to explore, in which you’ll find and sell your product. The product itself is crucial, as is choosing the correct supplier. A good example of this is bulk sunglasses. Olympic Eyewear are a wholesale sunglasses manufacturer offering assorted dozens of sunglasses. A good supplier, such as Olympic Eyewear, is the right place to start, and a social media account is the best place to advertise your business.