Why businesses need Social Media

In this day and age, the majority of organisations have an online and social media presence. In fact, 83.9% of businesses with ten or more employees in the UK 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. 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 halted, with websites and social media at their disposal.

With so many consumers using the internet to support their buying, it’s vital 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.

Maximise websites and social media for your business

With a website, your business is present all day long. This is to say that more time for customers to browse your products or services could lead to more revenue. You’d also have access to a much bigger audience. If you have only operated locally, going online allows you to scale your business and sell to other areas. It’s also essential in building a brand because maintaining your online channels builds credibility. In addition, if you can 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. 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, 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 worldwide, but in 2000 when Netflix approached them with an offer, its CEO declined, thinking it was a small 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 shifted its focus from social networking to music and entertainment in 2011. This led to considerable losses in the number of users, making it unsuccessful in the years to follow.