The Importance of Social Media for Businesses: People, Brands, Influencers, Communities, and Content
Who is Social Media and Why is it Important to Your Business?
Social media is a valuable tool that helps people stay connected and informed. But it can also create problems like cyberbullying, social anxiety, and depression.
The key is understanding how to use social media responsibly. It comes down to your personal motivation and how it affects other aspects of your life.
1. People
Social media is a digital technology that allows individuals to share and exchange ideas, text, visuals and videos through online communities. It is credited with helping people build community and faulted for facilitating disinformation, hate speech and bullying. It is a global phenomenon, used by billions of people worldwide.
For example, Starbucks grew its Instagram and TikTok followers through behind-the-scenes content, interactive contests, and responsive customer engagement. Its thriving community gives consumers the space to share their opinions and experiences, from asking for advice on DIY projects to resolving product issues.
Researchers are working to understand the effects of social media on health and well-being. A cocitation analysis of 121 journals in this area revealed four disciplinary clusters: social psychology/communication, general science/medicine, infectious disease/vaccine and public health, and medical internet and biomedical sciences.
2. Brands
Whether you’re an established business or a brand new to the space, social media isn’t just an option but a mandatory part of your digital marketing strategy. Social media allows brands to achieve a variety of goals from building trust and increasing engagement to driving traffic and sales.
Despite being free to use, social media platforms are profit-seeking businesses with their own set of rules and interests. While most people accept lengthy and hard-to-read use agreements without reading them, it’s important to know what rights you’re giving away when you share content on your social channels.
Whether it’s posting fresh memes or engaging with followers, the best brands on social media are masters of storytelling. From edgy social personas to awe-inspiring visuals, these brands are always finding ways to surprise and delight their audiences.
3. Influencers
Influencers establish themselves as experts in a specific niche and share content with a curated audience. They may also promote products or services in exchange for a commission, thereby building trust and brand awareness. Influencers are similar to key opinion leaders but have typically gained their reputation online rather than offline. They’re often celebrities who have a large social media following but can include anyone from Instagrammers to TikTok stars like Charli D’Amelio and YouTubers such as German Garmendia and Whindersson Nunes Batista.
Regardless of how they gain their following, influencers have an undeniable power to impact purchasing decisions and drive engagement with brands. They’re the reason why companies invest in influencer marketing campaigns.
4. Communities
A thriving community is the foundation of social media success. Communities promote engagement and help you establish a following that is receptive to your brand’s voice and values.
Different platforms foster different community-building dynamics. For example, TikTok communities tend to focus on content-related topics, while LinkedIn groups form around professional interests and industry trends. Understanding the nuances of each platform will help you develop a targeted community-building strategy that is unique to your platform.
Managing an online community takes time and effort. However, the rewards can be exponential. Dash Hudson’s intuitive platform connects all your direct messages, Instagram Story mentions and post comments into one collaborative inbox, enabling you to respond quickly to your audience while fostering an active community. This is how companies like Sephora have built a vibrant social media community of beauty and cosmetics lovers.
5. Content
Social media is where brands communicate with and connect to new and existing customers. To make the most of this platform, a well-rounded content plan is necessary.
Text-based content like Q&As and articles can help businesses connect with their audience and build trust. It can also be a great way to share thought leadership and industry insights with the public.
User-generated content (UGC) lets companies showcase products and services in real-life situations. It’s a form of social proof and testimonials that can increase customer confidence and encourage people to try out new products and services.
Stories are images and short videos that appear on Instagram, Facebook, and Snapchat for 24 hours before disappearing. They can be used to highlight special offers, announce events, or give followers a behind-the-scenes look at your business.