It is a new day, a new decade and a new era. The world of social media has changed the world in ways we have never seen before. According to WeAreSocial.com, More than 3.8 billion people across the world have a social media account of some sort, which will be close to 50% of the world’s population.
Social media can be a mix of both problems and solutions at the same time, such as solving crime situations and locating missing people, to spreading negative energy and drama which can lead to more serious accusations such as suicide.
But what about social media when it comes to business? Can the power of Facebook, Instagram, Snapchat, Twitter, Pinterest etc. can make a positive or negative impact when it comes to business and finance? Well my answer is simple, and I will explain my opinion on social media helping businesses.
First off, I view a perfect social media account in three parts: 40% followers, 30% content, and 30% reach (search results). As the account matures, the percentage will toggle overtime, which will change the impact that the account has upon society.
For example, Lebron James Instagram account is the perfect social media account. He has a majority of great content with over a million likes per post, which comes from having such a high following. That high following will list his account as the first option when searching for his account name, which makes all three parts work together to make his account the perfect social media account.
Now let’s take his account and put it into business perspective. If he posts on Instagram promoting a small business in his hometown, the chances of that business getting numbers in regard to search and traffic is more than 90 percent.
By Lebron having a high following, those likes will more than likely transform into link clicks as well, which will lead to traffic production to the business that will then lead to more sales and revenue. I view this interaction as The Social Revenue Cycle.
The SRC is explained, in which the traffic (followers) from the account will lead to the business site when it’s tag or link is clicked, which then the business will be shared to other people if the consumer finds the business beneficial. The other people will then go to the original source of mentioning, which is the popular social media account, which will then receive the traffic from the business mentioned. You can use the cycle for all social media accounts and is depended solely on the number of followers the account has.
So, to answer the question “Does social media help businesses?” yes, social media help businesses in regard to traffic reach and sales. However, the only way businesses can profit off social media alone is if the account is highly popular according to the chart mentioned in the first section.
If the social media chart explained above matches the account provided, then the business mentioned can have a great chance of receiving those sales off of the mentions alone, especially of the account has over 500,000 followers.
The business will then be depended on the SRC. The more traffic received, the better chances that the received traffic will produce more new traffic for the business overall. If you find this article helpful, please share it with others and leave your feedback below! I love hearing from you. Thank you for reading and have a blessed day!
Peace & Positivity.