Social media for business in 2024
With everyone stuck to their phones, companies can get in front of their target audience at a low cost—no more high-production commercials or billboards.
Social media is not a cookie-cutter solution, but with the right strategy for your business and audience, generating revenue from social platforms is 100% possible.
Let's take a look at the social media opportunities of today.
LinkedIn Opportunities
There are 58 million companies on LinkedIn.
40% of B2B marketers surveyed indicated LinkedIn as the most effective channel for driving high-quality leads.
93% of B2B content marketers use LinkedIn for organic social marketing (Hootsuite).
Showing up as a thought leader in your industry, using the right content, and relationship-building are ways to get results on LinkedIn.
TikTok is for Business!
TikTok is slowly replacing Google. More and more people are using TikTok to search for solutions to their problems. With 1 million TikTok videos watched per day, over 17.6 million hours watched. There is no reason you cannot get a piece of that pie because people are using TikTok to find their lawyers. (sources from wallaroomedia and smperth)
Create a new stream of revenue. Getting on TikTok allows businesses to create a new stream of leads and grow.
Reducing the sales cycle. Build trust with your audience, so leads are ready to purchase when they reach out to you.
YouTube will never slow down...
YouTube Shorts. YouTube Shorts are fairly new to the platform. They are allowing smaller channels to get reach. A great opportunity for every business!
SEO content. YouTube content lasts forever. That means people can continue finding it. It keeps working for you WAY after you post it.
YouTube keeps growing. People are replacing cable with YouTube. Everything is on YouTube!
Instagram is not just for influencers.
Engagement. Instagram has one feature that other platforms have not perfected - stories—a unique opportunity to engage with your audience and get immediate feedback. This is a great way to do market research and test products.
Reach a new audience. People are still very drawn to Instagram. People who hang out there don't necessarily hang out on other social platforms. There might be potential to reach an untapped market, depending on your industry and offer.
Still organic. Facebook might not have the opportunity for organic reach, but Instagram still has that opportunity with the right engagement strategy.
Twitter has potential.
A new Twitter. Beyond new management, Twitter has attracted more business owners in the last few years. It has created a space for informational content on the platform, which wasn't as visible in previous years.
Monetization options. Twitter is introducing a new monetization opportunity that will likely push out new content for longer. Tweets have a shelf-life of 15 minutes, but with monetization opportunities, they're likely to live longer on the platform. As a result, your effort on Twitter will likely be even more worth your time.
Twitter Threads. The popularity of Twitter threads has made it possible to share a lot of information instead of the limitation of 280 characters. This makes it easier to demonstrate your authority and knowledge in your industry.
After exploring social media for business in 2024, which channel are you most drawn to?
Schedule a 15-minute chat if you need help with your social media strategy.