Two important business ideas for your social media presence
If you’re an influencer or content creator on social media, you might not think of yourself as a business manager, but that’s exactly what you are. That’s why it is important to look at business literature and read business ideas because a lot of those ideas carry over and are relevant to your job. This article is a good premier to start learning how to think about your social media more as a business and learn about and implement some noncontroversial and useful business ideas:
Focus on What Works and Disregard What Doesn’t
While this seems like common sense – sadly, a lot of influencers and social media managers fall into a paradigm and continue producing the same content with the same schedule long after it has stopped working. Sadly, also, because most of them don’t keep track of objective metrics they can use to measure their performance, they don’t realize until it is too late and their account is almost dead. So, here is the main thing you can do to make sure you don’t face the worst-case scenario and are able to have some basic plans for your future.
Keep track of your performance on multiple fronts: while, thankfully, social media platforms keep track of a lot of stats automatically for you, they are useless if you don’t use them. Using those and collecting your own data on the multiple platforms you operate on is a necessary step to ensure you’re knowing what you’re doing. It is easy to just do what feels good or pay no attention to the future of your business, but this will mean you’ll become irrelevant on the internet pretty quickly.
You need to know how you are received, how much is each piece of content hearted, shared, viewed, how many sponsorship deals you receive, etc. Collecting this data and analyzing it over time means you’re going to use real facts and figures over feelings and what’s popular to guide your social media presence.
Look to the Future and Opportunities to Grow
It is highly unlikely you, the social media platform, or the people’s tastes will stay the same a year from now, and that’s why it is important to not stay still and always look for new opportunities to grow and expand your reach:
- Look into getting your presence on more social media platforms or develop individual plans for each one: social media platforms keep constantly growing and evolving: for example, just five years ago, Instagram and Snapchat were just starting to get popular and Facebook dominated the scene: now you have a much better chance succeeding on Instagram compared to Facebook. Facebook’s active demographic has been getting greyer and older in the past few years, which presents an opportunity for some and is a sign for others to move on. That’s why it is paramount to take in the broader picture of the platforms you’re working on, see how they are evolving, and respond to those changes by changing your assumptions and business model.
- Use cutting-edge technologies to always have a competitive edge: the social media space is largely new and there are a lot of rooms for innovation. That’s why there is an evolving and growing startup tech scene surrounding it that provide a lot of exciting software to influencers that they can use to better target their followers, manage their time, bind their platforms together, etc. For example, fourthwall.com is an example of a startup that allows you to create custom thank-you messages and send them to your followers when they buy something from your merch e-commerce store. It is an excellent way to increase your revenues. There are hundreds of examples like this you can use to make sure you are a step ahead of other influencers and generate as much success as possible.