SMEs ‘falling out of love with social media’ – should I close shop?
Sensis reported that their survey of 1,100 Australian companies—900 of which are small businesses—indicated that these companies were “falling out of love with social media” because they feel that the return on investment is too uncertain and time-consuming.
I believe that many of these small businesses don’t fully understand how to use social media to benefit their brand, which can be frustrating when developing a marketing strategy. The Sensis survey found that a majority of these SMEs are planning to spend less time and money on social media in the next 12 months. My knowledge in this subject tells me that steering away from social media can keep a company from reaching its full potential. I guess you could argue I am biased but read on to understand why my stance is actually objective.
While they may perceive social media as a waste of time and money, I believe that they are simply uneducated on how to compound and leverage the whole thing. I only care about marketing as I should in 2017, and in 2019 I will be marketing as I should then – this is where my mindset is at. Since 2010, the amount of social media users has skyrocketed from 970 million users to 2.51 billion in 2017. Of those 2.51 billion users, 1.28 billion use Facebook on a daily basis. That’s an audience of nearly ¼ of the world’s population, just on Facebook.
In addition, the 2017 statistics indicate that 56% of consumers are paying attention to advertisements posted on social media platforms. Imagine if you could brand your company to an audience the size of the entire Southern Hemisphere and more. That’s how much value social media has in our global marketplace.
I truly believe that there needs to be a change of mindset towards digital to make a step forward and that I won’t be closing shop – anytime soon.