The Importance of Social Media for Small Businesses

Photo displaying social media logos and a title for a blog post about the importance of social media for small businesses

The implementation of social media came swiftly and has established itself as a force to be reckoned with. It can be easy to dismiss the importance of social media as trivial and trendy; however, recent studies suggest the opposite. According to data from Pew, social media use has consistently gone up every year for the past 12 years. Additionally, that same study suggested that 69% of adults use some type of social media. Another study showed that 56% of adults are using multiple social media platforms.

“What Does This Have to Do with Me?”

While use of social media by young adults has been consistent, the amount of older adults that have begun to immerse themselves in it has increased by approximately 24% in the past 3-4 years. Not coincidentally, the Bureau of Labor Statistics reports that 35-64 year olds account for more spending than other demographics.

It can’t hurt to attempt to bring some visibility to your business through social media if these are the people using it. In reality, choosing to not participate in use of social media as a business can potentially be more harmful. Studies show that roughly 4 in 10 people express their feelings about companies and their products via social media platforms. Combine that with the fact that 82% of Americans check online reviews before interacting with a business and it becomes easier to see the tangible influence of social media.

Related: How Instagram Can Help Your Bar or Restaurant Make More Money

“What Does My Business Get Out of Social Media Use?”

Social media provides an assortment of uses so diverse that it is sometimes a little mind-boggling. It can be a source of information about your business, and its environment. Social media can be a tool to promote specials and events to draw in extra foot traffic. It can also be a way of addressing those who were less-than-happy with their experience in order to ensure their next visit will be better – and that’s just the tip of the iceberg.

53% of those who follow a brand on social media are more likely to become loyal patrons. Social media allows you to digitally establish presence and invoke positive emotions towards your company right at your fingertips. Social media isn’t just an outlet for advertisement – it’s a means of establishing relationships with your customers, which are invaluable.

Check out our recent webinar that covers how you can utilize Instagram to increase revenue!

 

kara

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