More than 80% of developed economies adult population are active on social media. The number of users from developing nations, though lagged, is rising daily. Over 90% of millennials globally routinely use social media. You are most likely reading this article, not from the traditional newspaper but from a mobile device or a desktop.
“A clear social media objective gives businesses mileage as that drives performance indicators you focus on. Reviewing the nice ones is a complete waste of time; therefore, get the objective right before you venture into social media marketing.”The reason your business is on social media should be clear. For example, Twitter may be used to build brand awareness. LinkedIn to grow a loyal & knowledgeable community. And Facebook to drive traffic to your business’ website.
Businesses are encouraged to use available research on the Fear of Missing Out to drive incremental sales revenue. Research shows that over half of social media users afraid of losing out on some offers, news, or trends.Releasing time-bound offers – Amazon uses “Deal of the Day” to create FOMO. Creating a sense of shortage – Hotel booking sites use this frequently by showing inventory and highlighting messages such as “2 rooms left” to encourage action.