The social media advertising market is set to rise to $207.1 billion in 2023, with an estimated 4.53% annual growth expected to take the market to $247.3 billion by 2027. And, while social media usage typically has skewed toward the younger demographic, it is spreading to better mirror the overall population, opening untapped opportunities for all types of businesses.
Sources: Instagram, Real Touch Points, Pew Research and SCORE.org
Keep these tips in mind when promoting your business online.
Define the demographics of your audience (age, income, education, interests, etc.) and the type of content that will motivate them to want more information about your products or services. Various platforms describe their users online so you can make a good match. Start slow and set goals for followers or the number of posts before you consider adding more networks.
Choose a name that communicates what your business does. Because social media has been around for a while, you might find that your name is already taken, so get creative by adding a city or state to your name.
All platforms give you a small space to provide information about your company. This is a perfect place to provide prospective customers with a link to your website and a benefit-oriented statement about what you do. Keep it simple and don’t overthink it.
Remember to add a professional profile photo and professionally designed logo. Don’t skimp on this step because you need a professional image for your brand.