Social media is an integral part of business marketing in today’s world. Every business knows they need to pay attention to it. The problem is a lot of managers and executives don’t really understand it. They understand the marketing side of it, but they rarely grasp how it can send money into the company coffers.
In this article, we will take a look at the five most important things your boss needs to understand about social media.
- It Does Drive Revenue
One of the biggest misconceptions about social media is it doesn’t bring revenue into a company. This couldn’t be further from the truth. It does drive revenue directly because it’s also one of the most potent marketing tools in existence. If social media doesn’t drive revenue, then neither does SEO or general advertising, and we know this isn’t the case.
The misconception comes from bosses who don’t understand how to track ROI. Companies need to be able to track how many paying customers come to their site through a Facebook or Twitter page, for example.
- It’s Not Just for Entertainment
Social media began as a platform for entertainment. This is no longer the case. Practically ever social media platform has built-in business platforms. Facebook has its Power Editor and Twitter recently implemented sponsored Tweets. Even the likes of LinkedIn, Pinterest, and Instagram have given businesses the chance to target different customer segments directly.
The fact is study after study has demonstrated at least a third of all users now monitor social media for product recommendations.
- Social Media is Secure
McAfee predicted in 2014 we would see the numbers of cyber-attacks reaching record levels. Whilst we can’t deny there’s some truth to this, it doesn’t mean social media isn’t secure.
Facebook, Twitter, and the others all have commercial interests. Attacks on their social media users will only lead to them losing out. This is why they have some of the strongest servers in the world. The chances are your Facebook account if safer than your company’s server.
Social media is secure. Most attacks happen due to a lack of education on the part of employees. They don’t know what they’re supposed to be doing to keep information safe. This is where your company has to ensure that proper online training is given. Do so and you won’t have to worry about a breach of security.
- It’s a Departmental Operation
No longer is social media about getting one person to work on social media searching for hashtags. Due to the fact social media has demonstrated its worth in all areas of marketing, it’s something you can use for multiple tasks. It’s worthwhile to create a department where multiple employees are working on social media.
Instead of searching for popular hashtags all the time, it’s also a customer service portal and a place to put your special offers combined.
- Bosses Can Improve their Image through Social Media
There’s a reason the likes of Matt Cutts and Mark Zuckerberg interact on social media. Weber Shandwick conducted a study into CEOs and social media use.
They found that CEOs that use social media are 10% more likely to be characterised as a more open and honest individual. They’re also 25% more likely to be seen as friendly. In the same study, of the people who responded 80% of them believed CEOs who used social media were more likely to be better at leaders.
In many cases, a CEO should see it as necessary for them to use social media. By posting on a semi-regular basis, they can contribute towards the organisation’s marketing campaigns.