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Social Media Strategy: What's the ROI?
- Published: 09/09/2010
- (Revised: 02/02/2023)
- Reading time: 2 minutes
Do you have a social media strategy? In 2007, Twitter users posted approximately 1.2 million tweets. In 2019, that number grew to 500 million per day. Many large companies now have full-time social media staff dedicated to Twitter– McDonalds has ten – but Twitter remains dwarfed by others. Social networking sites like Facebook and LinkedIn are currently poised to rival Google as search engine resources. Facebook has 2.45 billion monthly active users while YouTube has also 2 billion logged-in monthly users (2019).
In every demographic, social networking is on the rise. According to a study from Pew Internet, social media usage almost doubled among internet users over the age of 50, increasing to 42% from 22% over that period. The same study highlights increases in other demographics, including 47% of 50 to 64 year old internet users who now use social media. Clearly, interest in online social platforms continues to grow for all age groups. So, considering this trend, the question remains: how can B2B social media be crafted to harvest this untapped potential?
Facebook was originally designed to let college students connect and share pictures, but with daily viewers eclipsing 500 million, companies have realized the potential of an effective social media strategy. An estimated 20% of all posts are related to a product or brand and it only follows that, with the right tools, B2B social strategy can help:Increase traffic to your website with social media:
- Increase exposure to your brand/company
- Increase conversation about the brand/company
- Launch new products/services
- Receive feedback and ideas for product or business development
- Establish relationships and connections with potential customers who become your fans or followers
- Be fully integrated with all marketing programs and initiatives
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Setting up a Facebook or Twitter account is easy, but creating an effective social media strategy is more complicated. Contact us today to work with a social media consultant who can help you build the right strategy for your company, and facilitate the achievement of business social networking goals.
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