How Has Social Media Impacted Businesses in 2023?

Increased Reach and Engagement

One of the biggest benefits of social media for businesses is increased reach and engagement. According to Google, Facebook has 2.9 million active monthly users and Instagram boasts a smaller, but still impressive, 2.3 million monthly active users. This provides companies a huge potential audience to tap into. By creating a strong social media presence, businesses can reach out to both existing and potential customers, building brand awareness and loyalty.

In 2023, we're already seeing the growth of social media use in connecting with loved ones and relatable brands. To stay ahead of the game, companies will need to invest more time and resources into creating compelling social media content, as well as engaging with their followers and responding to questions and feedback.



How can you do this?

• Share what your business does in a short reel. Show your audience more about what you do and why they should care about your brand.
• Create engaging content, i.e. "would you rather" posts or ask your audience questions. Get your viewers to engage with your content and give their opinions—nothing says more engaging than posts with lots of comments that provide different perspectives on a topic!
• Respond to the comments on your posts. Show your audience that you have seen their comments and that you care about them. They will be more willing to engage with your content the next time you post.

The Rise of Micro-Influencers

Another trend we're seeing this year is the rise of micro-influencers. These are smaller, niche influencers who have a highly engaged following in a particular interest or industry. Brands are increasingly turning to micro-influencers to help promote their products and services to a targeted audience, rather than using larger influencers with a broad appeal.

This shift towards micro-influencers is likely to continue, as brands look for new ways to connect with consumers on social media. If you're a business looking to partner with influencers, it's important to find those who align with your brand values and have an engaged following in your target market.

Take Fiona Wang, Sydney-based lifestyle influencer, as an example. By posting content that caters specifically to her target audience, she relates better to a specific niche of people and will have a better retainment of her followers. By creating this kind of digital space, it also helps increase the quality of her potential following.



Personalisation and Authenticity

Users will also be looking for more personalised and authentic experiences on social media. They want to feel like they're connecting with real people, instead of unrelatable companies or brands. It's important for businesses to create content that feels genuine and relatable to their target audience.

One way to achieve this is by sharing behind-the-scenes content, showcasing the day-to-day workings of your business and the people behind it. You can also encourage user-generated content, inviting your followers to share their own experiences and stories. By doing so, you'll build a more loyal and engaged community around your brand.



Conclusion

Social media will continue to play a vital role in the success of businesses. To stay ahead of the curve, it's important to keep up with the latest trends and strategies, and invest in creating a strong social media presence that resonates with your target audience.

By doing so, you'll be able to increase your reach and engagement, build brand loyalty, and ultimately drive more leads and sales to your business.