I hear this great question almost daily! There is no ‘one size fits all’ answer.
There are, however, a couple of quick tips to hone in on what is best for your business:
Tip #1 - Where is Your Target Audience Spending Time?
I love the expression: "Fish where the fish are." What social platforms already have their attention and eyeballs and earballs of your demographic? For example, if your small business is ‘business’ oriented, you may want to concentrate on LinkedIn. If your biz is more aesthetic — for example, a nutritionist sharing recipes — Pinterest might be a good launch pad.
Tip #2 - Where are You Most Comfortable?
If you LOVE making videos and are comfortable speaking to a camera, then a video platform like YouTube or TicTok is a great place to start. If you are more inclined to write prolific, short form content, then perhaps Twitter is your jam. As with most things, you are far more likely to be successful if you play to your strengths.
Tip #3 - Don't Try To Be Everywhere All At Once
I have seen so many entrepreneurs burn out at the three or four month mark because they tried to be on too many social media platforms at the same time. To sound like a coach: walk before you run. Take small steps to get started and maintain a sustainable pace. Then, once you are comfortable with one social presence, and have the breadth to expand, do so with confidence and power.
Some Social Media Business Stats for 2023:
1) Facebook:
2.9 billion monthly active users
Key features: Facebook Business Page, Facebook Ads
18.2% of adults in the US made a purchase through Facebook last year
66% of Facebook users visit a local business page at least once a week
Most developed channel for organic and paid social marketing
Prioritizing e-commerce shopping via Facebook Shops
2) YouTube:
2.29 billion monthly active users
Key features: YouTube Analytics, YouTube ads
70% of viewers have bought from a brand after seeing it on YouTube
77% of people aged 15-35 use YouTube
Second-largest search engine in the world
Advertisements before or in the middle of original videos, similar to TV ads
DIY marketers need time, money, and talent to succeed
3) Instagram:
1.22 billion monthly active users
Key features: Instagram Carousels, Instagram Ads
On average Instagram business accounts see 1.69% follower growth each month
44% of users shop on Instagram weekly
Important for social commerce
Strong visual identity is key
4) TikTok:
1 billion monthly active users
Key features: TikTok Shopping, TikTok Ads
43% of TikTok users are aged 18 to 24
TikTok ads reach 1 billion adults each month
Explosive growth since launch in 2017
Popular among teenagers and Gen Z
Future uncertain due to controversial privacy practices
5) WhatsApp:
Over 2 billion monthly active users
Leading messaging app in most of the world, (not yet North America!)
End-to-end encryption to protect users' conversations
Popular tool for personal and business communication
6) Facebook Messanger:
1.3 billion monthly active users
Key features: Messenger Ads, Instant Scan
64% of people expect to be able to message brands for customer service
Messenger ads have the potential to reach 987.7 million users
7) Twitter:
436 million monthly active users
Key features: Twitter Revue/Newsletter, Twitter Spotlight
54% of Twitter's audience will likely purchase new products
CPM is the lowest out of all the major platforms
90% of Americans have heard of Twitter, 21% use it
Customer Service may be an opportunity
8) SnapChat:
557 million monthly active users
Key features: Business Manager, Snapcode
Users have over $4.4 trillion in "spending power"
Advertising audience is 54.4% female
Camera-first, disappearing content app
Loyal user base, 82% under 34
Popular among Gen Z
9) Pinterest:
442 million monthly active users
Key features: Story Pins, Try On Pins
Userbase is 77% female
75% of weekly users are shopping on the platform
Digital vision board app
Experiencing user growth during the pandemic
92% of advertisers agree it has the most positive reputation of any social media app
10) LinkedIn:
756 million members
Key features: LinkedIn Company Page, LinkedIn Live Events
25% of all American adults use LinkedIn
22% of those use it every single day
Represents huge opportunity for brands
Only 1% of users create content, resulting in 9 billion impressions
Rising popularity as a social media site for professionals
There is no denying that it is an exciting time for businesses to embrace the power and potential of social media. Final tips? Get started. Experiment. Be bold, and have fun.
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