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Best Social Media Platform for Businesses

social media for business

It is now the information age and businesses needs to be at least be present in one of the social media platform or it risk to be seen as not keeping with the technology and trends nowadays. The huge impact of social media is that now businesses no longer needs to depend its advertising on traditional platform such as TV, radio, billboard or magazines to promote their product. With the emergence of several popular social media platform, businesses can now reach a wider audience by using the free social media platform or at a fraction of the cost compared to the traditional media. With social media, businesses has the advantages as follows:-

1) Cheaper than conventional media
The social media gives access not to just big companies with big advertising budgets, but as well as access to the small and medium companies and still can reach wider audiences. With certain advertising strategies such as viral campaign, this small companies can reach a larger audiences even without paying a cent.

2) Customizable target audience
Unlike the traditional media that uses the wide net approach advertisement, the promotion you run in the social media can be customized to hit a specific target audience. This specific and customizable target audience includes diverse demographic, age, interests, hobbies and also shopping preferences. This high customization will lead into a higher sales conversion rate.

3) Easier to track the data analytics
Another advantage of using social media is that the indicators used to track audience reached can be gathered through data of impressions and click-through-rate or known as CTR. This data is important in analysing your advertising campaign and to tweak it in order for the advertising to be more efficient. You can also have the information on real-time and adjust the advertising strategy quickly to improve your ads better. You are not able to do this with the traditional media campaign. The data can only be gathered through actual surveys that can be time consuming.

However, with all these advantages, there is also a catch to this social media platform. Businesses that uses the social media platform as a business platform sometimes forget the ‘social’ word in the social media. If businesses want to make an impact in that platform, it needs to be or at least appear to be ‘friendly’ and ‘sociable’. The audience needs to have that feeling of close relationship before they can open their wallet and spend money. The social media users are used to having access to semi-private information and they are expecting the same semi-private information of your company as well. You need to give your brand or product a face for the social media users in order for them to get intimate with your brand and product. A big audience in the social media platform does not equal to higher conversion of sales if this nitty-gritty details are ignored. So, below we will list out some of the popular social media platform and give our analysis on how good it can be apply for businesses for higher conversion of sales.

  1. Facebook
    Facebook is without doubt the biggest social media platform in the internet and it have the largest audience compared to other social media channel. However, higher audience in a platform does not guarantee a high conversion of sales. However, with the right strategy and placement, it can provide a lucrative stream of visitors to your e-commerce website that would translate into sales.

  2. Instagram
    Instagram platform might not be suitable for some businesses. Unlike Facebook, this social media platform somehow cater for a much younger target audience or the Gen-Y category. Therefore, if you have a business that depends on being seen as the new trend or a product that cater to this younger audience, this platform might be the suitable platform for your brand and business. However, in converting the sales by using this platform still needs a lot of work from your side.
  3. Twitter
    Among all the social media platform that is e-commerce friendly, in our opinion, twitter probably rank the lowest in terms of conversion of sales. This platform is however good for data analysis on the top trending issues or news. Businesses needs to learn on how to leverage this data for their advertising campaign.
  4. Pinterest
    Similar to Instagram, Pinterest platform is not for all businesses. However, some products such as craft or art somehow have a good following in the Pinterest community. Clothing and apparels also has good standing in the Pinterest community and provides good conversion sales rate compared to other products.
  5. Streaming platform – Periscope
    The future trends of social media is now moving towards live streaming. Even though Periscope is new to the social media arena, the huge potential is there and remains untapped. However, if the platform can be figured out, it can be a good channel for product or services exposure to be seen live by almost anyone. A product demo can be shown live with potential hundreds of customers worldwide seeing it.