Is Social Media the Right Tool to Grow Your Business In 2020?

Social media is constantly evolving and so is your audience. With that in mind, Is Social Media the Right Tool to Grow Your Business In 2020?

In this article, we will discuss why social media works today and will continue to work in the future.

The Social Media Platforms Control Own the Audience: Is Social Media the Right Tool to Grow Your Business In 2020?

Social media tools have been used by businesses and individuals to earn a substantial amount of money for a long time now. However, these platforms are constantly changing. How you reach people that follow you is now being tapered with a drive to promote businesses to use the paid tools.

So, does regular posting still work? What strategy are you using to grow your business today? Is Social Media the Right Tool to Grow Your Business In 2020?

It is no surprise that social media is a popular tool for businesses. In fact, you cannot scroll down your personal timeline without viewing adverts from businesses and social organizations. The popularity of social media as a business tool is growing rapidly and the social media platforms know this. They control the audience, the platform and as a result, they are the ones that ultimately determine how much of your content your audience sees.

Fact and Figures That Support Social Media

There are over 7.53 billion people in the world and almost 3.5 billion or 50% of the world’s population are using social media on a daily basis. Facebook alone has more than 2.4 billion users while others are using a platform like QQ and WeChat from China. Every company is fighting for the opportunity to get people to see their adverts and promotions on these platforms because of their sheer reach.

Let’s put some figures that can highlight the amount companies are spending on social media just to create a clearer picture. In 2018, Facebook’s reported earnings from marketing revenue are as follows:

YEARQUARTERREVENUE
2018Q111,795,000,000
2018Q213,038,000,000
2018Q313,539,000,000
2018Q416,640,000,000

More and more companies are finding that marketing on social media is an effective way to spend their marketing budget and so Facebook continues to grow in revenue. The question you may be asking is – why is the revenue amount increasing so rapidly?

What Is Driving More Social Media Advertising Spend

In the past, you would pay Facebook in order to get likes for your page, the people that liked your page would all see your future posts without you having to spend any more money on ads. This has changed in the last few years.

Now, only a small group of your followers see the content and so you need to invest in other paid options to reach people that already like your page.

Instagram also limits the number of your own followers that get to view your content and when they view it too. Think about this – have you ever scrolled down your timeline and seen an image from someone you follow that already has 14 thousand likes and was actually posted 3 days ago?

This means, if you rely simply on posting on social media, your content will be sent out by the algorithm at a time of its choice and people may not see the advert. On the other, you will get more people seeing the content if you are paying for the privilege.

Other platforms behave in the same way as they continue to learn what people want to see and how they want to see it. Twitter has been known to flip flop around how the content in your timeline appears and when.

With this knowledge in hand, you have a responsibility to your business to figure out what strategy you will be using for your outreach and which platforms. A well sorted out marketing mix must involve both paid and free social media, because of its ability to reach larger audiences.

How to Take Advantage of This Social Media Craze in 2020

Social media in 2020 is not going to be easy, then again, it has never been easy. It has always been a tool that requires constant re-education in order to keep up. Now more than ever, you need to get a social media strategy in place that not only deals with the challenges of today but addresses long-term issues.

Though social media may not be the easiest to start and gain traction, many more people are trying every day. Only those people that follow a strict plan and strategy, excel and their businesses feel the positive results. From my experience companies that totally ignore social media have ended up shutting down. Sadly, when I go back to those same business owners a few months after our initial talk, many of them are out of business and the rest are a few months from closing down shop.

There are more than 2 million users of Facebook in Kampala alone. In the whole world, billions of people have Facebook accounts and the number keeps growing. If that isn’t proof enough that you need to focus on social media, consider that Facebook, Snapchat and other large social platforms continue to invest and purchase other platforms just like Facebook purchased Instagram. This means that these platforms will continue to be relevant and shape the digital world.

What’s Next?

In order to find how SNCT Marketing can help you implement an effective customer service and social strategy for your business in 2020, do schedule an appointment and our team of marketing consultants will reach out to you. Click the button below, complete the questionnaire with as much detail as possible, pick an available time slot and let’s get talking

Is Social Media the Right Tool to Grow Your Business In 2020?

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