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How companies benefit from social media

The Q3 2018 Small Business Index found that only 54 percent of companies surveyed said they would increase their social media presence. This is partially because of the declining user rates reported by Snapchat, Twitter and Facebook. However, social media can still be a powerful tool for companies in Colorado and throughout the country. Perhaps the greatest benefit of using social media is that it allows a company to communicate with its customers instantly.

Small businesses do not need to have a profile on every social media site that exists. In many cases, simply having an active Facebook or Instagram account can be enough. Business owners should do their research into the different social media outlets and find the ones that best allow the brand to shine. They should also choose the ones that allow the brand to gain the most visibility in the search results.

Using social media platforms may be helpful for companies that are trying to define their target markets. Knowing who a company's target consumer is can make it easier to find leads and convert followers into paying customers. As a general rule, companies should know what their competitors are doing at all times. By not having a robust presence on sites like Facebook and Twitter, competitors may have an easier time attracting customers.

Small companies may use social media for a variety of reasons, such as attracting customers or developing relationships with venture capital firms. Staying active online may also help a business highlight positive comments from customers or say thank you to those who placed large orders. Ideally, a company will have a social media strategy as part of its overall business plan. An attorney could help oversee the legal areas of the plan or create the necessary business documents.

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