Why invest in social media?

Why you should be on social media

Portugal has a population of around 10 million, of which 7 million are social media users. This corresponds to a penetration rate of close to 70 per cent. (Source: HootSuit, Global Digital Yearbook, 2020).sto corresponde a uma penetração de perto de 70% (Fonte: HootSuit, Global Digital Yearbook, 2020).

The average daily use of social networks is more than 2 hours among people between 16 and 64 (very close to the average time spent watching television: 2h38).

These are truly impressive figures and reflect the weight and importance of social networks in our society. Digital and social media are no longer the future. A present that Covid-19 has accelerated.

It is becoming increasingly urgent for national companies to take advantage of new technologies. To strengthen customer relations and loyalty, reduce costs and increase revenue. And you know what will happen if they don't do it now? They'll lose efficiency and competitiveness and become outdated, unable to keep up with new consumer habits.

2020 has boosted digital in Portugal, but there's still a long way to go. Companies already making this digital transformation are building a more relevant and personalised relationship with their customers. They'll be better prepared and generate value in their relationship with customers, they'll maintain their competitive edge over the competition, they'll optimise resources and boost results with fewer costs.

However, many entrepreneurs and managers feel lost and don't know how to move forward, how to build their online presence and get closer to their customers. On the other hand, anyone who has already launched into digital has realised that a professional and consistent presence takes work. However, it has countless benefits and impacts on your business.

First steps

The important thing is to get started.In the past, only big brands with lots of money could communicate. Today, with digital, any brand can communicate with its target audience without a huge investment. And social networks have become a strong ally for small and medium-sized businesses. With good content and a little investment, they can go global.

The first step is to break down the persisting barriers and myths. And then move forward. Start building a strategy step by step. Define the objectives.Sales? Notoriety? Who is your potential customer?Who is your potential customer? What subjects do they usually consume within your niche market? What media do you use to consume this content? Define the social networks to promote your business..

Your first instinct is to go to the most popular ones or, if in doubt, to all of them. Many companies are present on several platforms. However, this isn't always the best strategy. Managing your company takes up much of your time and attention. It would be best to focus on the platforms that can deliver the most return. To begin with, to test and manage efficiently, you should concentrate on those that make sense for your business. The ones where you're sure your customer is. If your business is for end customers (b2c), you should consider Facebook, for example. If your target audience is younger, perhaps Instagram. But if your target audience is other companies (b2b), you should focus on LinkedIn.

Once you've gone through this initial process, it's time to take action. Producing content and promoting your business on social media. Your biggest focus should always be on content. Produce relevant content daily that your audience will be interested in following. That they want to relate to, share, and save for later use. Without good content, your strategy is doomed to failure. Everything on social media is content. A text, a photo, a video.

So, how do I promote my business on social media? Before going any further, remember that social media, not commercial. They are relationship channels where people go in search of information and entertainment. If you turn your social networks into sales channels without delivering value, your results won't show. And then you'll start to get frustrated. I cannot emphasise this enough! The most important thing you can deliver to your customer is value. They are interested in consuming something that solves a problem or need. It's essential to create a close relationship before you start selling.

Why invest?

By advertising on social media, along with quality content, you will gain notoriety and authority in your niche market. The cost of advertising on Facebook and Instagram is low compared to other advertising channels available on the market.

Social media advertising is currently the world's third largest advertising investment channel (over 275 billion dollars in 2020). In addition, social media advertising is also one of the most accessible channels at the moment.

Social media are undoubtedly one of the biggest phenomena of this century. In addition to the rapid growth in the number of subscribers and the emergence of new platforms, they are highly diversified channels. This makes them excellent tools for connection and proximity. With the right strategy and consistency, social media will allow you to exponentially achieve and amplify your business results.

Now, will you keep waiting for digitalisation to arrive in your company magically? Or will you make a decision that will have a substantial positive impact on your business?