If you’re running a small business in 2023, you don’t need us to tell you how important social media is. According to recent statistics, 76% of consumers buy products seen in social media posts, with 11% buying immediately after seeing the product. Social media, in this way, is not just a place to market your business but essentially a secondary online store with millions of potential customers at your fingertips.
But, as we mentioned before, you already know this. In fact, nearly every company in 2023 knows this, and that creates a bit of a problem. If every company is utilising social media, surely the platforms themselves are becoming saturated? How on earth do you distinguish yourself from a competitor if every competitor is selling the same thing in the same place?
Understanding Social Media
The first thing to note is that social media isn’t the be-all and end-all. It is a strong tool, for sure, but the hole many companies fall into is seeing social media as an end rather than a means to an end. In most cases, social media is there to boost and amplify an already existing communication and marketing strategy.
Let’s say you’re a B2B company. The best b2b marketing channels are utilised as a way to communicate and engage with existing customers. In other words, it doesn’t matter that social media is already saturated with marketing campaigns, the important thing is that you have a presence there and are using the platforms to make closer connections. Essentially, you are using social media as a tactic for customer loyalty rather than a strategy in and of itself.
Garnering Social Media’s Full Potential
Another thing to note is that, yes, social media might feel like it’s becoming too saturated. But let’s look at the definition of saturation for a moment. In simple terms, saturation is defined as a state that occurs “when nothing more can be absorbed, combined with or added”. Does this sound like social media to you?
In marketing terms, social media is still a new phenomenon – in fact, the entire world of digital marketing is a new phenomenon – and its consistent growth proves that there is no way its full potential has been utilised. Of course, there may be an abundance of businesses making use of certain platforms, but how effectively are they really doing that?
For instance, are they taking advantage of social listening or analytical strategies? Have they optimised their profiles for 2023? Do they know how to communicate with social media followers efficiently? There are so many different parts to social media marketing, and not all of them are being tackled effectively.
Therefore, if you’re running a small company and you are disenfranchised by social media, it’s important to take a step back and look at the bigger picture. There is simply no chance that social media is oversaturated. In fact, most companies haven’t even scratched the surface. It is your job to go in firing and ensure that you give social media your best shot.