Monday, June 6, 2016

How do companies determine the best social media platforms to adopt and is it really necessary?



The short answer, it’s extremely necessary. As Holmes notes in a commentary written for Forbes Magazine (2015), “[social media sites] are fundamentally changing how [businesses] reach and interact with customers, offer products and services, communicate with employees and — in a nutshell — do business.” He goes on to say, “the best way to keep [businesses] successful, in my estimation, is to fully embrace social media.”

According to social network findings from Statista (2016), 78 percent of people in the United States have at least one social network profile. As noted in the graphic below, this trend continues to move upward year over year.

















(“Percentage of,” 2016)

From a global perspective, there are currently 2.22 billion social network users, with a projected growth to 2.72 billion by 2019. (As a side note, when I was working with refugees in Africa, many of them had lost their homes, but still continued to have social media.)

(“Number of,” 2016)

Furthermore, according to the Social Media Marketing Report (2015), businesses that are already using social networks as a marketing tool agreed on the following benefits:
















(Stelzner, 2015)

Based on the information gleaned in the charts above, businesses must figure out where and how they should be communicating with their customers on social media networks if they want to remain relevant.

Understanding this information, companies find themselves asking: should there be an implementation of every social media channel, and if not, which ones are best for the business?

The answer, however, should involve an analysis of a few, very important items:
·      What are the demographics for each site? Do they align with the businesses target audience?
·      What is the businesses overall goal and objective as compared to the purpose of the social network site? Are the businesses able to accomplish their goal and objectives through each social network channel?
·      Is there an internal content and analytics team that is capable of managing each outlet? If not, what is feasible, and which channel is the most important?

Companies have a tendency to jump head first into all channels feeling as if they should be involved in everything based on their lack of understanding on the purpose for each site. This is, however, very misleading as each particular social network site shares specific content and is geared to a defined target audience.
 
With that in mind, let’s look at the general purpose for each of the main social networks:

Facebook: [Facebook] builds tools to help people connect with the people they want and share what they want, and by doing this [Facebook is] extending people’s capacity to build and maintain relationships. People sharing more — even if just with their close friends or families — creates a more open culture and leads to a better understanding of the lives and perspectives of others. [Facebook] believes that this creates a greater number of stronger relationships between people, and that it helps people get exposed to a greater number of diverse perspectives.” (Zukerberg, 2012)

Twitter: Twitter is “[a place] to give everyone the power to create and share ideas and information instantly, without barriers.” In addition, Twitter allows for continual status updates, 140 characters at a time. It’s meant to be a sharing of stories, events, opinions, etc. (“Our mission,” 2016)

Pinterest: Pinterest is avisual bookmarking tool that helps [consumers] discover and save creative ideas.” It is a creative tool that helps with home remodels, do it yourself projects, recipes, etc. (“About Pinterest,” 2016)

You Tube: You Tube is a tool that allows “fast and easy video access and the ability to share videos frequently.” (Hamilton, 2011)

LinkedIn: LinkedIn has a goal “to connect the world's professionals to make them more productive and successful. [Consumers] get access to people, jobs, news, updates, and insights that help [them] be great at what [they] do.” (“About us,” 2016)

Instagram: “Instagram is a fun and quirky way to share life with friends through a series of pictures.” Instagram is being built “to allow [consumers] to experience moments in [their] friends' lives through pictures as they happen. [Instagram] imagines a world more connected through photos.” (“FAQ,” 2016)

With the general purpose and mission for each of the main social network sites in mind, now consider the target breakdown for each. As shown in the chart below, the demographic profile ranges for each of the sites. Furthermore, the purpose and goal is shown to help businesses understand where they should land. For instance, a consumer good’s product like Chaco should consider Facebook, Twitter, Pinterest and Instagram (and YouTube if they have the social media team in place). The content, however, should differ based on each site.



(“Choosing the,” 2015)


Consider the following platforms for Chaco’s:

Facebook:
Content for brand page: outdoor adventures, with possible real life stories of consumers on their journeys that are links directing to the Pinterest page. There should also be ongoing consumer engagement asking about their favorite outdoor activity. Consumers like to engage with brands when the brand isn’t constantly pushing the product in their face.

Ads: Retargeted shoe ads that leads consumers direct to a landing page within the Chaco web site where they are able to purchase the shoes.

Twitter:
Content for brand page: A mixture of product promotions and links to outdoor adventure guides. The adventure guides could be links to the Pinterest page to promote both social networks.

Ads: Targeted ads to consumers who follow any outdoor like page that direct to a landing page within the Chaco web site where they are able to purchase the shoes.

Pinterest:
Content for brand page: A mixture of product promotions (in context – shown in outdoor environments) with adventure guides to various parks, trails, etc.

Ads: Targeted ads to consumers who follow any outdoor like page or have shown interest in outdoor activities that direct to a landing page within the site where they are able to purchase the shoes.

Instagram:
Content for brand page: Product promotion in context – shown in outdoor environments.


In contrast, however, a business-to-business brand would not benefit from using most of the above tools (more specifically, Facebook, Instagram and Pinterest). They would be better served using LinkedIn, Blogs and Twitter to push out relevant content and generate leads for potential business. Social media networks are not a one size fits all. Each business must figure out where they are best suited and focus their efforts on those sites.



References

About Pinterest. (n.d.). Retrieved June 5, 2016, from https://about.pinterest.com/en

About us. (n.d.). Retrieved June 5, 2016, from https://www.linkedin.com/about-us

Choosing the Right Social Media Platform for Your Business. (2015, February 9).  Retrieved from http://us.accion.org/business-resources/articles-videos/choosing-right-social-media-platform-your-business

FAQ. (n.d.). Retrieved June 5, 2016, from https://www.instagram.com/about/faq/

Hamilton, D. (2011, January 13). Top 10 company mission statements. Retrieved from https://drdianehamilton.wordpress.com/2011/01/13/top-10-company-mission-statements-in-2011/

Holmes, R. (2015, November 18). Why businesses can’t survive without social media. Retrieved from http://fortune.com/2015/11/18/businesses-cant-survive-social-media/

Number of social network users worldwide from 2010 to 2019 (in billions). (n.d.). Retrieved June 5, 2016, from http://www.statista.com/statistics/278414/number-of-worldwide-social-network-users/

Our mission. (n.d.). Retrieved June 5, 2016, from https://about.twitter.com/company

Percentage of U.S. population with a social network profile from 2008 to 2016. (n.d.). Retrieved June 5, 2016, from http://www.statista.com/statistics/273476/percentage-of-us-population-with-a-social-network-profile/

Stelzner, M. (2015, May). 2015 social media marketing industry report. Retrieved from http://www.socialmediaexaminer.com/SocialMediaMarketingIndustryReport2015.pdf

Zukerberg, M. (2012, February 5). Mark Zukerberg’s IPO Letter Describing Facebook’s purpose, values & social mission. Retrieved from http://prosperosworld.com/mark-zukerbergs-ipo-letter-describing-facebooks-purpose-values-social-mission/2012/

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