How startups can leverage the power of social media.
In the past 5 years, social media has become less of an option and more of a requirement for business sustainability. Facebook and Twitter, specifically, have become integral tools for branding, content creation, lead generation, and customer acquisition strategies. For startups working with smaller budgets and grassroots campaigns, social media is especially significant. However, even in the technology age, many startups lack the general knowledge to maximize the use of social media.
According to the Global Web Index Social Report:
- For many internet users, Facebook is responsible for 15.8 percent of total time spent online.
- Nearly one out of every three Americans receives their news via social media.
- 40 percent of individuals increasingly socialize more via social media sites than traditional methods of communication.
- The average Twitter user spends over 170 minutes per month on the site or mobile application.
- The average social shopper spends an average of $140 when coming from Pinterest and $60 when coming from Facebook.
Considering these figures, entrepreneurs can begin to understand the value that social media can provide. Social media isn’t going away, so business owners should be asking themselves, "How can we maximize our growth with social media?"