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How to Identify the Most Profitable Social Media Platform for Your Business

How to Identify the Most Profitable Social Media Platform for Your Business

Social media is the new online marketplace for contemporary businesses in 2022. If your business doesn’t have a robust social media presence, you are missing a fortune, for sure!

With tens of social media platforms out there today, you would be spreading yourself thin to be actively engaged on all of them.

Given that your primary focus as a business on social media is customer acquisition and customer relationship management, you have to target the platforms where your prospective customers hang around.

This article extensively identifies the best strategies to diagnose the best social media platforms for your business. 

Know which Social Media Platform Attracts Your Desired Audience

The first step to picking out these platforms is having a precise persona of your dream customer. Your first homework would be to identify your target audience’s specifications. 

Let us assume you are a sports betting website. Your target customers would be people who leverage sports betting apps like 1xbet app (extensively reviewed on https://www.telecomasia.net/sports-betting/reviews/1xbet/mobile-app/), Bet365, and others.

Once the target audience is identified, the next thing is to know the particular social media platform on which the target audience can be found. One method is to approach things from the nature of the content one provides.

 For example, you can type the main keyword that is related to one`s business niche on a platform such as Buzzsumo.

The content piece with the highest number of shares on social media pops up once the search button is clicked. Although it is easy for an online marketer to look up the top social media platforms for the target audience using this method, there is a significant drawback: it is limited to just Facebook, Twitter, Instagram, Tiktok, and Pinterest. 

For example, 45% of Snapchat users are between the ages of 18-24, while 10% are between 45 and 54. Similarly, 60% of TikTok users are people in the revolutionary Gen Z generation.

If a particular business is interested in connecting with Gen Zers, the most appropriate platforms would be Tiktok and Snapchat. 

Stay Abreast with what the Competition is up to

Another critical way to know what platform to channel your social media energy is to understand what the competition has been doing—especially if they have been getting phenomenal results. 

And, of course, there is no virtually no business that is ignorant of what competition there is. 

Quintly is one powerful tool with which one can keep tabs on what goes on with competitors as far as online marketing is concerned. 

It works by providing one with the performance of the competition and how one`s business measures up with them.

Another tool is Ahrefs Content Explorer, which is used to look up the kind of content that resonates with the audience as well as the social media platform that rules a business niche. 

It is also possible to know the persons who share your competitors’ posts by simply clicking on the shares icon. 

But a business must take heed not to build a relationship with persons who have a direct relationship with the competition in order not to compromise marketing efforts. 

Expectations must also not be so high as regards making direct sales from social media marketing; after all, most people only use social media to relax and not to shop.

Focus on Building the Brand on the Selected Platform

Following the steps already discussed should naturally lead the business to choose what social platform suits it best for its online marketing. But that is not the end of it.

Businesses must relentlessly continue to pursue marketing campaigns on the chosen platform. For instance, it was found that businesses that posted 4 to 5 times a day on the social media platform, Pinterest, had more engagements than those who posted only a couple of times a week. 

However, by providing regular content with relevant topical and emotional elements, a firm`s following on the right social media platform is sure to grow with time.

Measuring Results and Being Adventurous

Having done all that is required, it is important for a business to always measure its results.

This involves sticking to strategies that have been effective and being willing to let go of the ineffective ones. 

Results can be measured through, for instance, checking the Google analytics referral report of the firm. 

In addition, any business that hopes to achieve remarkable growth must be prepared to question traditional modes of online marketing and test new ideas.

Conclusion

There is no gainsaying the fact that social media has become integral to online marketing. 

Firms, therefore, must develop strategies and compatible platforms with which the enormous power of social media can be harnessed. To this end, the right choice has to be made, one which will enhance the business’s profitability. 

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