As social media ups its importance on every aspect of society from retail to financial management, it is safe to say that such enterprises have been raking it in. There is the San Francisco Twitter factor and phenomena which pulled in a staggering US$2.1 billion which outranked Google’s US$1.9 billion back in 2004.
To invest or not: advantages
To not be aware of this wild animal, is to be left behind. No state of the art company or professional in today’s market, can get ahead without this feather to his/her cap. It is the accessory of all tools. To name but a few of the benefits, it starts with the essential branding nonpareil which a company uses to communicate to the public and investors as it is applied to its many-faceted products. With branding the results are the knowledge of its impact, a visible and physical awareness that develops over time and is strengthened which enhances the customer commitment and eventual trust: it becomes a listening device and a connecting tool that bridges the gap between the company and the client/public/investor. As a result of social media, the SEO (Search Engine Optimisation) factor becomes omnipresent.
The hottest name in social media is still held with Facebook as it has a stronghold of the market with 1.5 billion monthly subscribers and growing while Google+ is in pursuit and admittedly gaining ground with the second highest figures of 343 million.
Personal information is collected on these platforms which enables the magnates behind Google+ to envelop an SEO masterminded enterprise thus displaying its position beyond another social network. It provides its users with the ultimate in personalised search experience in which Google Authorship is the epitome of the search ranking algorithms of 2014. Companies and businesses that are socially bare, will need to get closer to this Google+ beast as it encapsulates the ‘all in one’ social network experience.
Results of investment
Image and video are the partners that have taken over text-based content as having imagery to consolidate and communicate with partners/clients/the public/investors will be the essential piece in the strategy that drives the engine. From having been considered a ‘women’s only’ platform, it will become the indispensable component for retailers’ marketing approach and programme.
Sharing imagery is commonplace especially with social media sites like Instagram, Slideshare, Tumblr, Path and Mobli which are developing. For businesses to be considered on this fast moving track, they will need to become adaptable to the sharing mentality of photos on their websites and blogs for the parallel benefit within their social media content to profit. The beast is ravenous and its prey will need to display a greater strength to tame it or join it which Tunde Folawiyo (Africa Awards judge profile for Tunde Folawiyo), is not a stranger to profess its worth and merit.
Facebook turns ten this year and with Twitter neck and neck, which can only suppose that they will be focussing on advertising wherever they see space or potential, giving their clients the best window for their product. Nigerian companies will need to think quickly and take the plunge as the country is demonstrating its growing presence within the continent of Africa and can surely drive itself up the social media ladder. Investing in this aspect of a company is the future and to be left behind after having propelled itself in the world economy with its valuable resources is backward; this step will lead Nigeria to becoming a pioneering country open for modern trade.