"Which Social Media Channel is Right for my Business?"

Choosing the right blend of social media platforms for your marketing strategy can be a formidable task, with over 4 billion active social media users growing daily globally. From Facebook to Youtube to WhatsApp to LinkedIn, each social channel has its own 'sweet spots' for promoting your business online. The fundamental question you need to know is, "Which social media platforms are best for my business?"

In 2022 it is clear that every company needs a presence on social media platforms. As a leader, you know this is necessary, but you're having difficulty understanding how social media will add business value.

One of the fundamental causes of a 'failed social strategy' is prioritising the wrong social media platforms. You also need to be clear on how your marketing strategy translates from your Business and Technology Strategy and ask some fundamental questions:

1. Are you B2C, B2B, or both?
2. What's your target audience?
3. What's your overall goal?

If you know the answers to those three questions, it's relatively easy to narrow it down to a solid two to three platforms to dedicate your time to.?

Using social media for business can be a great way to engage with customers, view competition and develop a brand voice.

• Facebook alone has 2.7 billion active monthly users.
• The leading social media platforms used for business include Facebook, Twitter, Instagram and LinkedIn.

"Social media provides targeting capability, as well as reach and scale, at a lower cost than almost all other marketing channels,"?said Abdul Muhammad, chief digital officer?and partner at?RBB Communications, in a previous Business News Daily interview. "People are on social media all day, every day – brands must go where the people are."

However, if you're considering getting your business onto social media, it's essential to consider which platforms are right for your business and will provide the most value.

Not every social media platform is a good fit for every business, so you should invest your time and skills in the channels where you're most likely to reach and engage with your target audience. Each platform has a mission, purpose and unique audience. For example, Instagram is heavy on visuals, whereas Twitter injects some personality into your posts and engages with followers.

The major social media platforms for business are Facebook, Instagram, Twitter, LinkedIn, YouTube, Pinterest, Snapchat and TikTok.

Facebook has the largest audience and the most room to customise your social media marketing. Twitter is the best for receiving feedback from and directly engaging with customers. Pinterest is ideal for small and niche businesses that can market directly on the site. YouTube is arguably the best social media for driving traffic to other websites, such as a company webpage where customers can make purchases.

The best social media is the site you can leverage for your business's specific goals. With that in mind, though, a combination of social media usage on multiple sites will typically yield the best results.

The disadvantages of social media largely depend on your platforms, but there are some universal drawbacks. The first is an investment. It takes much time to manage a social media account, and if you are outsourcing the work, it will take much money to pay for that time. While the initial outreach generated from those investments is usually worthwhile, social media investments generate smaller returns over time.

Another major drawback is the potential for bad publicity. Something as simple as a typo can send a very wrong message, and even after you make corrections, the consequences of bad publicity will persist. It is practically inevitable that a social media account will encounter political or otherwise controversial topics, and someone is guaranteed to dislike your business's discourse.

One of the most challenging risks to manage is the influence of your social media followers. They will always represent a small portion of your total customers, but they will be the most vocal, and they could lead you to misread what most of your customers want or think. Putting too much stock in social media can send a business down the wrong track.

There is no magic number for social media marketing. While you should probably spend at least a little money on it, how much you get out of your spending will depend on the efficiency of your campaigns. Organisations typically spend 15 to 25 per cent of their total digital marketing budget on social media. That marks an excellent place to start, but you can and should adjust your spending according to your return on investment statistics once those numbers are available.

If you would like advice on building a Social Media Strategy, don't hesitate to get in touch with Gray Matter Digital through our website .

Credit: EZMarketing Team, Blue Corona, Kiely Kuligowski & Saige Driver