Social Media State of the Union
I recently listened to this enlightening podcast episode which confirmed much of what I thought to be true about how social media platforms are designed, AND taught me so much that I think we all need to know so we can be more informed consumers of social media content. (It gets really good around the thirty-minute mark).
As a marketer, it's my job to stay on top of social media trends, but as a human being who values mental health, integrity, and honest business practices, social media and I don't always jive. It's a weird time to be a marketer.
I started my business in 2016 and started taking on done-for-you social media marketing clients in 201. Social media was a different landscape. In just those few short years, I've seen this space get more and more saturated, more competitive, and more divisive, AND it has also become a place to seed meaningful positive change, give a voice to the voiceless, empower and enlighten us on important matters, and give us ACCESS and line of sight to so much we otherwise wouldn't.
Social Media Marketing for Small Businesses
Using social media for business requires us to participate in this digital landscape that we don't necessarily love to participate in, though it provides us an opportunity to to be the light in a dark space (as one dear client so beautifully reassured me of yesterday).
My personal and professional position on social media for business owners is bullish. It's necessary. It's filled with opportunity to grow the business and fill people's feed with all the good, kind, and encouraging content that helps people make better decisions, while profitably elevating your brand.
That said, the marketing tactics which achieved certain results which we knew to be true and reliable back in 2017 are simply harder and harder to achieve today. The exponential social media growth you could expect from specific actions, just don't result in the same amount & speed of growth. Do they still work to achieve growth? YES! But not at the rate of return that they they used to. As this article points out, “Facebook and Instagram face significant drops in organic engagement," in large part due to the fact that our attention is pulled in many different directions (thanks Tik Tok).
According to Forbes, "Times have changed, and with them so have the rules of social media. No longer can brands get away with simply pushing out content and expecting results. Instead, they need to be more strategic in their approach and innovate in order to stay ahead of the curve…Brands have to keep up with ever-changing trends to remain relevant. While it’s more challenging than it used to be, brands are still being built via social media."
For example, posting organic (free), consistent, thought-filled content that your audience likes would garner predictable engagement. Today, it's much harder to systematize this rate of return, though there are ways to do so and I share many of those solutions in latest podcast episode. Though I realize that for many entrepreneurs it feels like playing whack-a-mole. Social media use for business simply requires constant adjustments and a mindset of experimentation.
The Data & Personal Experience
In 2022 Instagram engagement across all industries fell by nearly 30% on average compared to 2021. Our clients, however, continue to see upward growth trends on their social media platforms, though this growth requires more from my team and I than it used to. While the average business Instagram account engagement rate is between 1-3% (proof, proof, and proof), our client roster has earned an average of 8.5% in monthly Instagram engagement for 2022. I'm extremely proud of this. It tells me that we're meeting the right audience with the right content at the right time. When we do see a dip in engagement, we know why and how to bring it back up. This is because we have evidence, data over time, and experience. We're looking at our client's social media performance from a 30K foot view rather than at the “post-by-post" level. I recommend you do the same when looking at your social media performance. Don't dwell on one post that didn't perform, but rather look at the holistic performance of the entire month or quarter and make decisions from that view.
Also worth noting, a hashtag strategy with specific keywords is a pretty bankable way to increase your discoverability, followers and reach, however it requires much more time, thought, research, and experience. (Hashtag and keyword research could literally be it's own job at my company)!
It's just time for us to recalibrate expectations about:
1. How best to use social media for business
2. Understand the rate of return on social
3. The amount of time you're willing to put into social media directly affects what you'll get out of it in return
4. Acknowledging that it's a saturated space and harder to earn market share, while knowing that there are proven, honest ways to stay competitive and reach your people
Below you'll find some takeaways from latest podcast episode where I'm sharing how the ever-changing social media landscape is influencing small businesses growth rate and return on investment over time. Specifically, I'm digging into the “tried and true best practices” for social media marketing and exploring whether or not those are still relevant. You'll leave with solutions to improve your reach, engagement, and market share.
To your continued success,
With Appreciation,
Kelly
FB/IG: @willowandoaksolutions