Let’s go back to the early 2000s. Did you ever think that social media marketing could potentially boost sales for companies? Probably not. We used to think social media was just for posting pictures of pets or writing “Happy Birthday!” on a friend’s or relative’s wall. Back then, no company could have confidently said, “we plan on using social media to beat out our competitors”. Before the rise of social media, companies relied on relatively expensive TV commercials, radio ads, newspapers or whatever they did to get their brand out to the public. Companies have always struggled to find ground-breaking ways to further reach into the inner circle of their customers.
Companies Now Realize the Power of Social Media
Twitter, Facebook, LinkedIn and other major social media channels have been around since the mid 2000s. Since these social media platforms launched, their fan base and usage increased exponentially and has not slowed down ever since. Anyone with a computer or handheld device has access to the internet, anytime and anywhere. There are 2 billion active internet users, the majority of which are updating their social media channels at least once a day. There was an enormous market for companies that wanted to tap into this. Today, 90% of U.S companies are currently on Twitter, Facebook, LinkedIn and other key social media sites.
Are Companies Properly Targeting their Social Media Campaigns?
Unfortunately, companies aren’t using social media to their full advantage. According to Harvard Business Review, which surveyed thousands of companies, only 12% of companies know how to conduct a social media campaign; an incredibly small amount. Let’s take this into perspective, as said earlier there are 2 billion people browsing the internet. Most of them are browsing their social media feeds. 90% of US companies are now on social media but only a tiny portion of companies can properly market their business on social media. Billions of potential revenue is lost due to the lack of understanding when it comes to social media marketing. Social media websites are constantly adding new features to further enhance the user experience. Rather than using these updates to its full potential, companies are struggling to keep up with it.
How is Society Combating this?
Years ago, companies would have a tiny office for a small team managing their social media marketing campaigns; a special skill only a few people had. In today’s world, it is in everyone’s best interest to know how to use social media effectively. Fortunately, colleges and universities are slowly creating courses to help students boost their understanding. In addition, companies are also planning on creating courses for their employees to ensure that their company is ahead of the game. Whether we like it or not, understanding how social media marketing works is now an integral part of finding a job and vital for any business.
About iRISEmedia
iRISEmedia.com is a Toronto based social media marketing agency, specializing in social media management, digital marketing and online reputation management. Our team helps clients manage their online presence and branding to increase qualified web traffic and leads.
