03 Jul 2018
Consumers are turning to social media in greater numbers than ever and businesses are following, according to new research.
The 2018 Yellow Social Media Report shows the total number of businesses of all sizes across Australia with a social media presence has hit an all-time high.
"Four in 10 consumers (44 per cent) follow businesses or brands on social media.”
Four in 10 consumers (44 per cent) follow businesses or brands on social media. See the infographic below for more.
At ANZ we know we’re surrounded by social media. We all use it and the latest Sensis survey gives us an overall picture of use by small to medium-sized enterprises.
Let’s not forget being on social media is not a business achievement in its own right. It needs to justify the time and resources devoted to it. SMEs need a return on investment – just like with any form of marketing.
The key then, as with all marketing decisions, is understanding and measuring what you are out to achieve so you can optimise your return.
Facebook may be the world’s most pervasive social platform but is it the best marketing tool for a local business? I spoke recently to a customer with three dry cleaners. For him a more old-fashioned collection of emails and sending out targeted special offers was the best return.
Some business do well with a simple website but for them a critical element is understanding search engine optimisation (SEO) in order to drive traffic to the website.
There is a distinction between those individuals making a living off Facebook or Instagram – being paid for clicks - and a business making sales or marketing on social platforms.
We get back to that crucial issue for SMEs - how do you best spend your time and marketing dollars?
In rural areas we are seeing some very competitive and geographically targeted advertising packages being offered on television which have worked well for some customers of ours. Another, with a boat yard, makes his own low-budget but authentic Youtube videos.
For me the key questions are really quite familiar ones:
Guy Mendelson is ANZ General Manager Small Business Banking
Melissa Currie is Visual Production Editor at bluenotes
The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.
03 Jul 2018
31 Mar 2017