Small entrepreneurs try to embed the strategies followed by Fortune 500 companies to achieve success. After all the strategies worked for the successful companies and have a good market reception. Social networks are a growing presence in terms of business strategies, an area dominated previously by blogs. Blogs had reached their peak use in 2013 but after that have only seen a decline in terms of market advertising. There were many problems with the blog model of advertising. They are lagging behind in terms of technology. There are about a third of the Fortune 500 companies which still use the blog model but almost all the others have moved on to newer and better technology of the social networks.
Social networks provide a feature to ‘drip post’ content at a steady rate while blogs require their material to be updated regularly with fresh content. Blog comments are also expected to be responded as soon as possible, which takes time and drives focus away from other social marketing strategies while social networks are more of a fraternity of the people.
Social networks have their fair share of issues as well. While they used to be free of cost for a wide audience, times have changed and algorithms have now changed to promote sponsored content or content that is most likely to be well-received by its users. These changes have made it harder for both big and small companies to make their posts completely viewable to all their audience, unless, of course, the companies are willing to pay the amount for the sponsored content. Social media is making its presence quite like traditional advertising. It is no longer free and unbiased. This has also led to an influence on Google’s SERP results.
Since advertising on social media started costing companies money, they have toned down their social media presence to only a few networks as compared to a few years ago when they had accounts on more than half a dozen networks. This is attributed to new start-up social media networks every once a while and the wise decision is to stick to the already established networks. Young start-ups have a tendency to live only a short life, the most popular example being Vine. Companies have decided not to invest their time and money on every social network that pops up.
Fortune 500 Companies popularly have a corporate Twitter account and about 83% of them have been active within the past month. 80% of these companies maintain a regularly updated Facebook account. Some of these companies also maintain video-sharing channels on various websites, 67% of them having a YouTube channel. LinkedIn is the most popular social media with Fortune 500 Companies, with 97% of these companies having some presence on it.
Companies are now paying individuals to create specialized, sponsored content, and this strategy is finding a strong foothold in today’s market, driving this shift towards social networks from blogs. This causes users to feel more connected and they find the social engagement more personal than traditional advertisements. Some companies, who wish not to hire outside SEO, are offering incentives to already-existing employees to spread the message on social networks, improving the brand image. This has to be closely monitored to ensure that the user promoting the brand does not promote content that would counter the first brand.