Business Social Media Accounts: SHOULD YOU OR SHOULDN’T YOU?

We woke up on Monday morning to the news that JD Wetherspoons was shutting down all of its social media accounts.
The pub chain tweeted their 44,000 Twitter followers stating that its head office and 900 pubs would be immediately quitting all of their social platforms over concerns arising from the “misuse of personal data” and the “addictive nature of social media”.
What? Did we read that correctly? Are they mad? Who would voluntarily delete all of their social media in this digital age? We decided that this would be an excellent opportunity to discuss the pros and cons of using social media for your business.

the negatives

Competition

Very soon, Facebook alone will be averaging around 2 billion monthly active users. Instagram is also catching up, with over 800 million Instagram accounts active every month worldwide.
80% of these accounts follow a business on Instagram. Consequently, competition to get noticed in the online world is rife.

a Changing Environment

Social media success is a constantly moving target. The channels themselves are consistently changing and upgrading and it’s a challenge trying to keep up. You have to evolve with them to succeed.

This involves spending time researching your chosen social channels and the changes that are taking place, as well as incorporating these new practices into your marketing.

This was particularly essential when Facebook announced an algorithm change in 2018, resulting in fewer posts from pages or brands showing up in user’s timelines. Additionally to this, you must be educated in what is and isn’t acceptable for your brand to post about.

Otherwise this could result in  your posts being misunderstood or someone being offended by your content.

Constant Monitoring

Constant monitoring requires time. Many business owners don’t have time to spare updating their followers or engaging with clients by responding to feedback etc.

Wetherspoons for example, didn’t seem to have the time to focus their efforts on their social accounts.

They once took over five years to respond to a complaint… yikes!

12.78% of people who complain to a brand via Twitter expect a response within an hour. Consequently, you need to be on top of your game; otherwise you’ll have some very unhappy customers.

The Positives

Cost Effected Targetted Marketing

When it comes to advertising your business, social media is possibly the most cost-effective way. Invest small amounts of money at a time to get an idea of what you can expect.

As you increase these investments, you will see an increase in conversion rates and ROI. Additionally, you can target your social media marketing to your desired audience.

You can adapt your message to your audience by targeting people dependent on their age, gender, political affiliation, interests, hobbies, personality type etc.

This type of target marketing is something you can’t get with print ads or billboards as social media marketing allows you to measure your success.

Brand Loyalty and Customer Engagement

Having a social media account as a business isn’t just about finding future clients or customers. Instead, you’re using the platform to communicate, foster long-term loyalty, and gain consumer confidence.

It’s a great way to showcase your work! People build a positive image of your company in their minds when they see you posting on social media, replying to queries and posting original content.

Communication and engagement with customers is a great way to win their attention and publicise your brand message!

However, if you are using social media to attract new customers, then remember that 71% of customers who have a positive experience with a brand via social media are likely to recommend that company. Word of mouth is a powerful tool, so it’s clever to utilise it!

Your customers will find it easier to connect with you when you have a social media presence. Customer satisfaction and brand loyalty typically go hand in hand so engaging with your customers on social channels is a great way to start developing a bond with them.

Marketplace Awareness

Who doesn’t want to know the needs and wants of their customers? Social media is great to gain more marketplace awareness. 

By frequently visiting the analytics page on your profiles, and visiting your followers’ profiles, you can gain information on your customer’s interests and opinions.

This is valuable information that you may not have known if you didn’t have a social media presence.

Once you get a large following, this information will become more and more useful.

What We Think

Yes, social media takes time and dedication. However, if you do it properly, you can reap the benefits!

It’s not just about introducing your product or service, but it’s also great for promotional campaigns and building a connection with your possible/current customers and clients.

It’s great to know that the company you’re dealing with has a personality and for customers to gain more information about what they do and how they do it.

Also, although there is huge competition online due to the pure density of social media accounts, this also means that there is a huge audience just waiting for your content. On average, each person spends around 2 hours a day on social media. This makes it a prime outlet for customer interaction.
JD Wetherspoons may have removed themselves from the online social community, but will the rest of the world follow suit? It’s unlikely.

If you need help with your digital marketing, give us a call.