Will a social media strategy help my business?

Will a social media strategy help my business?

Most businesses will benefit from and in many cases need a social media presence. Their preferred platforms could be any of the Meta-owned brands such as Facebook for Business, YouTube for Business or WhatsApp Business – or the professionals’ choice, LinkedIn.

But there are sectors where businesses do not live or die by clicks and likes. So before plunging a lot of time and effort into devising a social media strategy it is worth considering whether or not your company is in an industry where it could expect to get the rewards of a busy social media profile.

Social media stars

There are some common factors in sectors where an active social media presence is a must. Typically they trade with the public not other companies, are in areas where people rely on advice and reviews, involve occasional rather than repeat purchasing and are in sectors with significant spend on advertising and marketing.

Companies with a social media strategy will want it to:
• Bring in new customers;
• Increase sales;
• Increase brand awareness and reputation;
• Get closer to customers;
• Increase traffic to their website;
• Build a community;
• Improve search result rankings;
• Provide customer support.

Trades and professional services

The trades

For most people, when something needs fixing or renovating at home a search engine is their first recourse so a strong online presence is crucial for the likes of electricians, plumbers, decorators and kitchen fitters. A slick website that clearly describes the skills and experience on offer and the range of jobs undertaken, with before and after pictures and lots of testimonials, recent reviews and high ratings will have a big impact on bringing in new business.

Trust is important in this sector. Customers are paying in some cases a lot of money to let people into their homes to do things that are messy, disruptive and involve various dangers and risks. The social strategy should focus on honesty, competence, experience, reliability and fair pricing.

Professional services

Like the trades, the use of professional services is often a one-off or occasional need that arises unexpectedly, and a client’s first contact is likely to be as a result of an internet search. Potential clients will want to do a bit of research before instructing a firm so a well-crafted social media presence will make the firm seem active and engaged with its clients Slick presentation and favourable reviews are a must.

Professionals will have years of experience of winning new business so should start with an advantage on social media. Their online activities should project trustworthiness, competence and client care. Social media can also be a platform to draw attention to charitable and pro bono work that will showcase the firm in an attractive light.

Consumer-facing sectors

Hospitality

People will often want to do a bit of research before trying a new restaurant or bar and the sector is a natural fit for social media, and online conversations are likely to parallel offline ones. Attractive visuals, positive recent reviews, frequent updates about events and promotions at the venue will all increase footfall. Contact and booking information and clear directions will also help get people through the door, as will lots of posts of delicious-looking meals and of a congenial clientele.

Retailers

The internet can be a wonderful shop window that lets a business show the world what it sells. Independents should aim to give their social comms a distinctive personality and should focus strongly on excellent customer service. People going to an independent store don’t want a bland, corporate experience, they want to be treated like individuals and to feel valued.

Health and fitness

This rapidly expanding sector has so many ways into it, from gyms to wellness products and services to supplements and diet advice. A social media presence means customers can become part of a community, which many find valuable as a source of motivational help and advice. Many customers will be trying to make life changes and will want to have the support of others, to be able to swap stories and experiences. To succeed, companies should know the demographics of their ideal purchasers, and their pursuits and online behaviour. Any player in it has to have a specialism and create its social strategy by working back from who its customers are. Trust and genuineness are vital: for many people their appearance or health are sensitive issues so feeling cared for will help them engage with the marketing.

Social media duds

For all its immediacy and reach, and ability to start a conversation and attract attention, social media is not for everyone and some businesses can manage fine with a limited online presence.

Sectors with limited benefit

Highly regulated sectors

Businesses and organisations in conservative and slow-moving environments, such as the public sector, utilities, some financial services providers or ones where public safety is critical will not reap too many benefits from an active social media strategy. They have limited interactions with the public and due to whatever regulatory requirements they are subject to have to be cautious in dealing with the wider world, and may have confidentiality requirements

Traditional industries and the public sector

Heavy industry has low levels of engagement with the public as companies in the sector do not sell directly to it. Public sector bodies are not in engaged in commerce and their success or failure is measured by different metrics than sales, in more intangible ways and over longer timescales so social outreach does not yield any great benefit though they will need to provide updates to service users.

Non-visual and abstract

Sectors in which visual aesthetics are not important, such as non-retail financial services, IT and software, and transportation and shipping are at a disadvantage online, and have less reason to have a social strategy due to serving businesses rather than the public.

Local bricks-and-mortar outfits

Many regular users of a high street business may never look at its website. New customers tend to come from passing trade and word-of-mouth. And given that these sorts of businesses exist in all areas there is no point in trying to reach customers who are not nearby as they will have their own more convenient local equivalent. That said, service providers such as hairdressers and garages must pay attention to their reviews, making sure there are plenty of them and they are rating at least four out of five.

Business to business

B2B companies are likely to rely on fewer, larger customers so regular blogging and uploading videos and reviews and so on are far less important. Also they are likely to have fewer competitors than retail outfits so can rely more on their reputation and the relevance of their specialism to draw in new business.

Conclusion

For those who are interested in knowing more about becoming social media stars please take a look at Finsbury Robinson’s other articles about online marketing, which include the top 10 SEO improvements for your website and which social media platform is right for your business.

And if you would like to take advantage of Finsbury Robinson's tax, accounting and business advisory services, please contact our friendly and highly experienced team on 020 8858 4303 or via email at info@finsburyrobinson.co.uk.