How did you find this article? Was it that you were searching the internet for information on social media and wholesale, or were you delving into LinkedIn when you came across a post with a link to this? If your answer is the latter, suffice it to say that social media has become an integral tool in any company’s business model. Whether selling business-to-consumer or business-to-business, social media has made connecting with your audience not only easier but also often less expensive than traditional marketing initiatives.
Though many people associate the beginnings of social media with Facebook, which started in 2004, the first online social media platform began in 1997 with the launch of Six Degrees. Ebbing and flowing as any new concept would, as a society we have seen the rise and fall of SixDegrees, MySpace, and countless other social media applications. Successful operations understand how to flourish and grow by continuously making any necessary changes and keeping up with the times. Facebook is a proper example of changing to meet the needs of their audience. Though Facebook has made its share of missteps, this particular social media platform has grown exponentially and in 2018, 14 years after its inception, it made over $55 billion in revenue.
Social media continues to thrive with individuals. This has lead to a variety of platforms taking advantage of the power and dominance it has over us as a society. These companies are scrupulously learning what to do to convert this visibility into profit. Businesses previously focused all of their attention on LinkedIn, which is aimed at professionals who are connecting with both friends and colleagues. Now companies are branching out, seizing the opportunities presented to them, and they are utilizing social media platforms to reach both people and companies as part of their marketing efforts.
With this knowledge, as a business, you need to ensure that your advertising dollars are spent wisely. It’s not always how much you spend, but how well you spend it, that can make a difference between a successful campaign and a mediocre one. Do not limit yourself to traditional mediums when creating your campaigns. Think of Facebook, Instagram, Twitter, Pinterest, LinkedIn, and other social media platforms as opportunities to expand your reach. Having a social media presence, and by opening accounts to represent and engage with your customers, can create equal success. Think of blogs, articles, video sharing, podcasts, surveys, and more as the tools in your arsenal that will set you up for profitability.
Social media may not be what it once was, but businesses should be thrilled by this. It’s the way that we can move forward and stay in line with the times. After all, don’t they say if we aren’t moving forward we are moving backward?
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