power of social media

The Power of Social Media for Business

 A modern business needs a modern approach when it comes to showcasing their business and connecting with their target market. From radio ads to television commercials, door-to-door sales to newspaper ad campaigns – every decade has seen a trend take off and then be taken over by the next best thing. This leads us to our topic today, the power of social media for business.

The power of social media for business

Social media began as a way to be just that – social, with your media! Myspace, Facebook, Bebo, even Instagram began as a way of connecting with friends and family far and wide, sharing your life through the screen at your fingertips. But as the years ticked by, businesses became aware of the power of social media for business sales. Companies great and small had ad campaigns on Facebook and Instagram, LinkedIn was created to cater to a business market and fast forward to now… social media is one of the best business tools you can use today!

Networking – Staying relevant and up-to-date

Industry and B2B (business to business) networking used to exist in the form of mixers, events and conferences. You’d find yourself making small talk for hours on end as you make connections with industry professionals and hope to boost the growth of your business somehow. For some people, this was great fun – for others, this was something they HAD to do, and the desire to do it was non-existent! In 2022 there are two major players in the social media networking game:

  1. Facebook
  2. LinkedIn

Facebook has a unique feature called ‘groups’ where admins either approve or reject requests to enter the group from those on the outside. Aside from ‘Nan’s 70th surprise party’, Facebook groups are a fantastic way to share information, network and discuss topics around a central theme (i.e. your industry!)

LinkedIn works much like Facebook, but it’s solely business-focused. It’s a great place to repost articles of interest, discuss hot topics, and there’s even a feature to let people outside of your circle know that you’re interested in potential job opportunities.

Advertising – Finding new customers

Almost every social media platform has advertising capabilities now. The biggest consideration is where your target market lies. For example:

  • TikTok – People aged under 25 years
  • Instagram – People aged under 40 years
  • Facebook – People over 30 years
  • LinkedIn – People who have a tertiary education, play a major role within a business or own a business themselves

Once you establish where your target market sits in the above social media platforms, it’s up to you to create an advertising campaign that will resonate with them while using the app (This is where a great marketing professional comes into play)!

Engagement – Keeping your network warm!

The power of social media for business engagement is limitless. In the 1980s, the only way a business could have a conversation with their customer was when their customer walked into their brick and mortar store to browse or buy.

Nowadays, with the power of social media, businesses can converse with their followers every minute of every day. This can be done through posts, comments, direct messages, stories, ‘lives’ and more. 

So, if you’re a business owner who is contemplating diving headfirst into the deep end of social media, remember it’s those who adapt to change who thrive as the years go by. For the most part, social media is a free service – and with so many business benefits, you’d be crazy not to take advantage of the power of social media for business.

If you’re looking to start your business sale journey, take a look at our step-by-step guide, or call Core Business Brokers today on (02) 9413 2977, or email Roy directly at [email protected] or Rad, at [email protected] 

Our friendly and knowledgeable team are always here to assist your business sale needs.

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