Wandering on economist websites, you might sometimes see the question: “Why should firms consider investing in a presence on larger social networks?”. This is still a topical question for those who work in the marketing field. Let’s dive into this post to find out the reasons and look further into this burning issue!
Reasons Companies Should Invest On Larger Social Networks
There might be countless answers to the question: “Why should firms consider investing in a presence on larger social networks?” However, in this article, we offer you the most influential reasons. Let’s get started!
Audiences
First of all, social media enables you to reach a large amount of audience. In other words, larger social networks are synonymous with a wider audience, leading to a massive market for you to advertise your products.
To prove this, nearly 90% of advertisers confirm that their social media activities have improved their company’s visibility, and 75% say they’ve increased their website traffic.
So, “Why should firms consider investing in a presence on larger social networks?”. The reason is simply that social media is regarded as an important means to develop your brand recognition and increase consumer engagement.
Trends
The second incredible benefit for businesses in social networking is the ability to take advantage of current social media trends.
If you are a social network user, the term “hashtag” will not look all that unfamiliar to you. “Hashtag” is created by a hash mark and the letters after and used for describing trending topics.
It can be said that hashtags are an extremely effective tool to attract your target customers and increase your brand awareness. You can also utilize these tags as perfect ways to scan for subjects with a shared thread on social networks or to indicate a conversation subject.
Again, the investment in a presence on larger social networks of firms is due to larger social networks using these blue hashtags to set social media trends, they will catch the attention of almost every user since it is trending. As a result, your companies’ products will also be on trend easily like this!
Influence
Social networking has become an integral part of our lives over the past few years. In business, it is a good way to engage and interact with your potential customers.
For example, instead of delivering an update to all customers, many tech firms announce bugs and errors on their social networks. Absolutely, users will access this information faster since more and more people are constantly available and respond 24/7 on social media accounts.
It’s also obvious that larger social networks have a greater influence on consumer shopping habits. The more reliable your company’s name on large platforms, the more potential customers you will have.
Frequency
Besides all of the above reasons, the answer to the question “Why should firms consider investing in a presence on larger social networks?” might also be the frequency. In fact, repetitive advertisements will enhance the perception of the goods or services by the viewers.
As mentioned above, people spend much more time wandering on larger social networks such as Facebook, Twitter, Line,… Consequently, they will see your products more often and get interested. In the future, if they need anything similar, they might make a trial purchase.
Being Economical
Once again, “Why should firms consider investing in a presence on larger social networks?”. Simply put, it’s the most cost-effective way for startups and established brands to cut their advertising expenses.
As we all know, almost all social network platforms allow users to quickly sign up, create a profile, write, and share content with the public for free. Not only that, these platforms have been using the pay-per-click (PPC) payment model, which means that you only pay when the users take the action you want. For those reasons, it is obvious that the cost of social media ads is at a relatively low when compared to other traditional marketing tactics.
Word Of Mouth
Last but not least, things are easier to spread only by chit-chatting. The impact of this has evolved with the arrival of interactive and social media since these social platforms create new online communities. To put it simply, social media makes it easier for your loyal customers to share your company information to their online friends and acquaintances. As a result, these changes have effects on how companies can take control of word of mouth for advertising purposes. Social media is much cheaper than SEO channel for business according to this page.
Studies also suggest that 72 percent of individuals perceive reviews online about the same view as friends and family’s recommendations.
In Conclusion
To sum up, there are many answers to the question: “Why should firms consider investing in a presence on larger social networks?”. We might conclude that it’s all because of the fact that the larger the social networks, the more influence they have on our society!
We really hope that after reading this article, you might gain some interesting knowledge! Thank you for reading!