How to Choose the Best Social Media Channels for Your Business

Not seeing the results you hoped for when launching your company’s social media platforms? Questioning why your content isn’t resonating with your audience? If this is the case, it might be due to the channels you’re are choosing and not the content. It’s important to look into the performance of your content to see what is and isn’t working, but for now, let’s focus on the channels. 
 
Managing social media can be overwhelming and frustrating, but when used right, it’s proven to contribute to a company’s success—so much so that 78% of consumers are willing to buy from a company after having a positive experience with them on social. Increases in sales, brand recognition, and new markets/audiences can all be positive outcomes from a well-run social media program. 

But how can you get there?

First, consolidate your efforts within one to three meaningful social media platforms until you have the capacity to scale to another platform. Let’s take a look at a few ways to choose the best social media channels for your business.

Determine Your Social Media Goals

What matters the most to your marketing on social media platforms: brand awareness, customer retention, more leads, content quality or something else? When thinking about your goals, try to factor in your team’s strengths; big teams divide and conquer at a faster pace, and in-house content creation allows you to save on outsourcing costs. Think of achievable goals with the current outlook of your team. This part is crucial in any social media strategy as it is the foundation from which you will grow. Without any goals, you might as well not present yourself on any platform. 
 
A good example is what Wayfair has done with Instagram and its new features. Wayfair clearly defined its end goal on Instagram: to create a convenient, user-friendly way for its consumers to shop. If a user spots an item they like on Wayfair’s Instagram channel, within just a few clicks they can transition from browsing to buying. 

These features have helped ramp up site visits, even when they were first introduced. Five percent of the consumers who arrived at Wayfair.com came from a social network, which is more than double the year previously.

Determine Your Target Customers

After you establish your goals, it’s then extremely important to understand your target audience. It’s great if you find a good channel for your company, but without the proper audience, it won’t go very far. Take the time to understand where your customers live on social media. Track their buying journey. 
 
To put it into perspective, 4.70 billion people around the world now use social media, with 227 million new users online within the last 12 months. When you find your proper audience, your company’s content can make an astronomical impact. 
 
A good example is Nike’s recent “Play for the World” campaign. Nike has demonstrated that it truly understands how to tap into the mood of its audience while simultaneously inspiring people through the power of sport. The campaign, which was rolled out across Nike’s social media channels, stressed the importance of social distancing during the coronavirus pandemic. Featuring both influencers and members of the public, the campaign was designed to reinforce the notion of togetherness. This is a prime example of Nike taking the time to understand its audience(s) to deliver content that would actually resonate and not be dismissed.

Run an Audit

According to weforum, the average American spends 2.25 hours per day on social media, and the average social media user worldwide spends 2.5 hours. 
 
Your job is to find out which channels your customers are on. What other interests do your customers have? What are your target demographics? Are there any international markets worth exploring? These are the things you will need to know in order to align with your goals.
 
In addition to your research, find out which social media platforms do well in your industry. What channels are your competitors on? What are they doing well? What do you think they could be doing better? 
 
The key here is to have data to back up your strategy. It’s one thing to just think you know what’s best, but it’s another to actually know. 
 
If you would like to discuss your social media marketing strategy, contact our expert team today at tptdigital@transperfect.com.