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Why businesses need Social Media

19th April 2021

Intro

In this day and age, the majority of organisations have an online and social media presence - in fact, in the UK, 83.9% of businesses with 10 or more employees have at least a website to represent themselves. We’re looking at why it’s important to adapt to technology and keep up to date with current trends so your business remains visible and continues to be trusted by customers, including utilising social media.

Online shopping surged in 2020 due to the pandemic and in the UK alone, 84% of shoppers now research online before buying something, as opposed to 76% in 2018. Based on these figures, businesses that had to close their doors now had an opportunity to tap into a new market while in-person retail came to a halt, with websites and social media at their disposal.

With so many consumers using the internet to support their buying, it’s key that your business keeps up with and stands out from your competition to continue making sales, however this is just one of the many reasons why having an online presence is important.

With a website, your business is present all day long. This means more time for customers to browse your products or services which could lead to more revenue. You’d also have access to a much bigger audience - if you have only operated locally, going online gives you the opportunity to scale your business and sell to other areas. It’s also essential in building a brand - maintaining your online channels builds credibility and, if you’re able to achieve more sales and expand your customer base, your brand can benefit from positive customer reviews that will accelerate its growth.

Social media and websites go hand in hand, with traffic to websites often coming from social media channels. Globally, more than half of the population uses social media and with so many individuals habitually checking their Instagram, Facebook, TikTok and Twitter channels, it’s a great way to build your brand and get seen by the right audience. While there’s lots of competition out there, your business can still use social media in a meaningful way to increase conversions.

Some businesses however, have failed to adapt to changes over the years. One such example is Blockbuster. In the 1980s to early 2000s, it was a staple in households all over the world, but in 2000 when Netflix approached the Blockbuster with an offer, it’s CEO declined, due to thinking Netflix was a small niche business. Since then, Blockbuster was declared bankrupt and Netflix has grown to 182.8 million subscribers as of 2020.

Another example is MySpace. With the rise of Facebook, MySpace’s popularity began to decline and, instead of recognising that it had the opportunity to expand into a social media channel. MySpace shifted its focus from social networking to music and entertainment in 2011. This led to huge losses in the number of users making it unsuccessful in the years to follow.

How you can adapt your business

It’s extremely important to adapt to changes and maintain an active website and social media presence. That’s where we come in - we’re experts in digital and social media marketing to elevate your brand. We take care of everything for you, so you can focus on running your company. Contact us to get started, beginning with a free audit of your business.