Facebook, Instagram, YouTube, X, TikTok – you name it. When looking to find your favourite company on some of these, chances are they already have an account set up.
There’re almost 4.95 billion people using social media worldwide. This means all these social media users could be potential customers for your business, too!
This article will help you understand how impactful social media is in today’s digital world, and it’ll serve as a guide in boosting sales of your Canadian small business.
- Why Do People Follow Their Favourite Companies on Social Media?
- The Most Popular Social Media Platforms in Canada
- Strategies for Maximizing Social Media Sales
- Tips for Measuring Social Media Marketing ROI
Why Do People Follow Their Favourite Companies on Social Media?
Many of us like to follow our favourite brands – whether they’re clothing brands or technology giants – we love to stay up to date with the latest news about them.
But what’s more is that most of today’s platforms, like Instagram, for example, are a great place to start selling products and services to potential or even existing customers.
Understanding the motivations behind why individuals choose to follow businesses on social media is essential in tailoring a compelling online presence.
The reasons are multiple, but we have curated some below:
- Staying up to date on new products
- Accessing exclusive deals or promotions
- Genuinely enjoying good content
- Engaging with other community members
- Aligning with the company’s values
The Most Popular Social Media Platforms in Canada
Since we’re mainly talking about Canadian-based small and growing businesses, it’s essential to learn what the top social media platforms in the country are.
Wherever you are in the world, the top 5 social media platforms would still be the same. So, in Canada, we have:
- X
It’s worth noting that Reddit has secured the fourth position, indicating a large user base on this platform.
For Canadian small businesses interested in creating viral content or fostering an active online community, this presents an exciting opportunity to gain visibility and attract potential customers.
Other social media platforms include TikTok and Threads, both of which have a tremendous following, especially among younger audiences.
Strategies for Maximizing Social Media Sales
This section can be very beneficial for businesses of all sizes since it talks about the four most valuable best practices you need to start implementing into your social media strategy.
One of the most effective social media strategies is to find the content that’s converting the most and stick with it.
This means analyzing metrics such as engagement rates, clicks, and conversions to determine which content types resonate the most with your audience. Once you have identified the most successful content, you can create more to consistently attract and convert customers.
Remember that user-generated content on social media and your website is a must and can help build trust among those who visit your site for the first time.
Another strategy is to start selling directly on social media.
Instagram, for example, has become a popular platform for businesses to sell their products directly to their target audience. On Instagram, popular clothing and shoe brands such as Nike, Adidas, and smaller local companies ‘point’ their products to reach their target audience.
It’s easy and quick for people to buy directly from their smartphones, and it’s an excellent way to increase sales quickly.
By creating sponsored content that appears in users’ feeds, businesses can advertise their products to a wider audience and increase their chances of making a sale.
Coupons are also an effective way to lead potential customers to your website and encourage them to make a purchase. With discounts or special promotions, you can incentivize customers to take action and purchase something they want. This can be a great way to attract new customers while retaining existing ones.
Last but not least, social listening is quintessential for businesses to examine their audience’s wants and needs. It’s a process that results in finding out what your customers are looking for while visiting your Canadian-based business, how they react to your posts, and what they’re commenting about.
This insight is perfect for meeting customers’ expectations more effectively and efficiently. You can fix minor errors in your descriptions and check if there are unexpected delays in shipping.
This can help businesses tailor their strategies and offerings to meet their customers’ needs better, which can lead to increased sales and customer loyalty.
Tips for Measuring Social Media Marketing ROI
After navigating through the crossroads of having a fantastic website and bringing your brand on social media, it’s time to check out how you’re going to measure your success.
Social media Return on Investment (ROI) is the sum of benefits you gain via your marketing strategy compared to what it actually costs you.
Understanding social media ROI is crucial for businesses as it provides insight into the effectiveness of their strategies, guiding future decisions and investments.
1. Define Your Objectives Clearly And Set Goals You’ll Be Able To Meet
It’s important to establish specific goals for your social media endeavours before measuring ROI. It’s not advisable to aim for lofty goals without first learning how to achieve them.
Whether it’s increasing brand awareness, driving website traffic, or generating leads, articulate specific and achievable goals. These goals are benchmarks for measuring success and provide direction for your overall social media strategy.
2. Track Metrics That Matter
It’s easy to drown in a sea of metrics. To effectively measure social media ROI, focus on key metrics that align with your objectives. These metrics include:
- Reach: Evaluate your audience’s size and your content’s potential visibility. A broader reach indicates increased brand exposure.
- Engagement: Measure likes, comments, shares, and overall interactions with your posts. High engagement reflects a positive audience response and indicates that it ‘speaks’ to your audience.
- Site visits: Track the number of users directed to your website from social media platforms. Increased site visits demonstrate the effectiveness of your social media in driving traffic. With a captivating landing page, you’re off to a great start.
- Leads generated: Assess the number of leads or conversions from social media efforts. This metric directly ties social media activities to tangible business outcomes.
Conclusion: Social Media Offers Tons of Opportunities for New Businesses
If you’re new to the business world, navigating the various strategies and best practices that can help grow your business can be overwhelming.
On the other hand, if you’re an established business owner, you may be looking for new ways to expand your reach further and increase your revenue. Regardless of your situation, it’s always helpful to have guiding principles to steer you in the right direction.
One way to do this is by understanding your target audience and catering your social media strategy to their interests and behaviours.
Another important piece of info is looking into why most people join and follow social media. You can gain valuable insights into the types of content and messaging that are likely to resonate with your target demographic.
With these in mind, you’ll be better equipped to create a social media strategy that is both effective and engaging.
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