Invoice Bazaar Blog

Which social media platforms can prove helpful to entrepreneurs?

By Invoice Bazaar | October 13, 2021

Some entrepreneurs tend to underestimate or dismiss the power of social media and don’t give it the importance it deserves. However, in reality, social media platforms can offer optimal solutions for critical business needs, such as boosting your brand recognition, reaching customers where they are, finding out what they like, networking with peers, hiring the right staff, and building mentor relationships. Thus, social media can be one of your most profitable marketing channels while also helping your business venture achieve its growth goals. However, with numerous social media platforms in existence, you may wonder which ones can give you the best return on investment (ROI).

The answer may vary depending upon the nature of your business and which needs you are seeking to fulfill. For example, LinkedIn may be your top choice if you are thinking of building peer networks, seeking mentors, or hiring well-qualified employees. LinkedIn searches are also immensely useful to find professionals by location or based on other specific parameters. You can also use LinkedIn to determine which competitors are hiring or scaling up, and thereby adjust your business strategy based on such knowledge. Meanwhile, Facebook and Instagram are indispensable to expand the business and marketing reach of your products and services and to be where your customers are. Targeted advertising and promotion can both work well on these two platforms when done with proper planning.

If you are thinking of boosting brand awareness, brand reinforcement, and generating business leads, you should add three more platforms: YouTube, Twitter, and WhatsApp. While YouTube is one of the most effective video-based platforms and has over 2 billion monthly viewers and users, Twitter is best for continual updates as around 40% of users are very active and tend to engage on it multiple times every day. Meanwhile, WhatsApp is an effective instant messaging app with a business platform that allows SMEs to have a good and appealing profile. Business owners can also efficiently use WhatsApp to share the latest updates with customers and offer prompt customer support and service.