Social media. Most of have social media accounts for our own purposes, but when it comes to using social media for our businesses, many of us fall short. Some of us have a hard time finding value or ROI in social media, where others know they should do it, but just don’t know where to start. Let’s take a look at some interesting stats from the BDC on how Canadian entrepreneurs are using social media currently:
- 83% have a website
- 54% advertise online
- 64% of those that advertise online include social media as part of their strategy
When we look at these numbers there are a few startling things that jump out. Firstly, the percentage of business owners that have a website in today’s digital age should be 100%, or as close to that as possible. Secondly, online advertising is one of cheapest, low-hanging fruit client acquisition things that you can do. If you aren’t advertising online, you probably aren’t doing any other form of advertising. Finally, while 2/3 of advertisers are doing some form of social media advertising, the degrees at which “doing” vary are vast.
While there are fundamental pieces that all business owners should have as part of their marketing strategy, often the best way to get ahead of your competitors is to exploit things they aren’t doing properly, or at all. This is where a strong, well planned social media strategy can help. Not to be too much of a Canadian cliché, but what made Gretzky so great at hockey is that he went to where the puck was going, not where it was at currently. We should operate our businesses the same way. The consumer shift to social is already in full effect, why are we not engaging with those consumers where their interests lay instead of trying to lure them away from those platforms to where we wish they were?
If you’re serious about improving your overall marketing strategy and want to look into adding a social media strategy to your efforts, we would love to help you out! Feel free to check out our social media section for more details.