Customers are on social media and they are spending a ton of time there every single day. In this episode, Erik shares why you should invest in social media.
Erik J. Olson (00:04):
Uh, we’ve covered three out of the four pillars. You know, I was really surprised that in Kevin’s poll social media was the number one. I expected that to be number one. And the reason is it’s constantly changing. You know, Kevin mentioned TikTok, how many people here have heard of TikTok before coming in here. All right. Wow. Quite a bit. I’m surprised. Actually, the other one, uh, the, the, the new coolness is bite. How about bite bite? B Y T E bite app. Who’s heard of vine. Remember vine that got killed by Twitter. Well, Vine’s back, but now it’s called bite. It’s not owned by Twitter, right? Bite. So it’s like a six second looping. I got it on my phone just to play with it, but there’s always something new coming out in social media.
Erik J. Olson (00:53):
All right. What’s the tag on here? What happens in Vegas? Stays in Vegas. What happens in Vegas stays in Vegas, right? Right. This has been, this has been in place for years. Not anymore. So they literally changed their tagline. Why? Because it doesn’t stay in Vegas anymore. Social media, mm-hmm <affirmative> people are taking pictures and they’re sharing them, right? So the tagline didn’t apply anymore. They had to update based on the times. So are people really using social media? This charge shows you what’s going on here. And at the very top, you have Facebook, but you see that a huge number of people are in Facebook every single day. Is this a surprise to you? No, no. We know people are in Facebook. That’s where you waste time. Right? So people are what is, so once a week is 90, over 90%, over 90% of the people that use Facebook are in at least once a week, people are using it, right? They’re in social media.
Erik J. Olson (02:08):
How long? Well, every time they go in every single day, they’re spending three hours in social media. I’m not making this up. This came from someone else. What are they doing there? Well, sometimes they’re Ashley asking for recommendations. Have you done this? Have you seen this? Hey, anybody know a good plumber? Yeah. I mean, you could find this out yourself. Right. But people prefer to go ask their friends. So people are looking actively looking for recommendations on social media. Some <affirmative>, some people will say, well, yeah, but my customers aren’t on there. I service a older demographic or a younger demographic, or it’s different for me. Well, I don’t know about that. So this chart, a lot of, lot of lines and a lot of curves and everything. But as you can see the younger, the demographic, the more time they are spending in social media, older folks, aren’t spending quite as much time, but they’re spending time in there. They’re there. My parents are on Facebook. How many people’s parents are on Facebook? Yeah, they’re there. Right? They’re all there.
Erik J. Olson (03:30):
Now. I just mentioned Facebook. But this app, Instagram is the new hotness, right? How many people are on Instagram? How many people love Instagram? Super hot. Right? It’s been all the rage for the last couple of years. But the thing is with Instagram, the people that are on it <affirmative> are about the only people that are gonna be on it in a few years. It is not growing some of the social media that’s out there has kind of peaked. Right? So what I’m trying to show here is not that Instagram sucks because it’s not growing as fast as maybe you thought it was growing. But the thing is that this isn’t something that’s coming. Anyone who’s gonna be on Instagram in particular. And this is representative of Facebook as well. Anyone who’s going to use it is likely already there, which means that it’s not something that’s coming. It humming. That’s here.
Erik J. Olson (04:37):
Well, where exactly do people spend this three hours a day, right? They’re on it once a week, once a day, once a week at worse, for the most case, they spend three hours. They’re asking their friends where there’s a lot of different choices. Well, here’s the answer. YouTube is not exactly a social media platform. It’s up there as a platform or online platform. But the key here is Facebook. I mean, just look at this. So even though we all may love Twitter or we love Instagram, the reality is people are on Facebook. What does this mean for you as a business owner? Where do you wanna be? You wanna be on Facebook? All right, next, you want to be on Instagram for most businesses. Most of the time. Now, if your demographic skews super young, maybe it’s totally different, but these are the platforms that you want to be on. If you want to get in front of people.
Erik J. Olson (05:41):
So how are advertisers? These are people that spend money on advertising. How are they responding to all this? It’s very similar to, you know, that internet chart that I showed earlier. There’s a clear signal here on how others are spending their money. Where are they spending it for the most part, Facebook and Instagram, not complicated. That’s where people want. That’s where people are. And if you want to get in front of people, that’s where you go. Last thing I want to touch on are likes, right? So you probably heard, maybe you’ve even seen where Instagram is hiding likes, who here doesn’t see likes anymore in their posts. Like I I’m pretty sure I still do. At least the last time I checked, they’re rolling this out. So they’re getting rid of likes and a lot of people in the industry like that, they think that likes are not a good metric of engagement.
Erik J. Olson (06:42):
Likes are very simply, you can do a fly by click. I like it. And you move on, right? It doesn’t really mean much. It’s a vanity metric. What’s more important though. A what? Engagement engagement. Yes. A comment. A comment is more important, right? Algorithms, love comments, because you have to stop. You gotta click it in the text box. You gotta think about what you’re gonna say. You know, your friends are gonna see it. You put more thought into it. It’s a little bit longer. It’s certainly a lot longer than just a click. Very, very important algorithms, love comments. So for business, what does that mean? That means ask for or gun for comments. You may not wanna outright ask for it. As a matter of fact, sometimes that’s like a no, no, but you want comments much, much more than you want likes. So think about creating social media posts, where people will respond.
Erik J. Olson (07:42):
You can ask a question, have them respond, right? Get their opinion, engage. That’s the key and a drive by like is not good enough. All right. So it’s to wrap up the fourth pillar, your customers are on social media. You may not think they are for whatever reason, but they’re there. The population is on social media. They’re spending a ton of time there every single day. And while they’re there, they are researching products. And they’re looking for referrals and recommendations. You need to play in this game. Invest in social media. Now of all the different social media. We’ve already talked about Facebook, Twitter, Instagram, LinkedIn is one of ’em bite TikTok. I mean that right there is, I don’t know, six or seven. There’s more, there’s a lot more. Where are you gonna focus on focus on Facebook? That is the play right now. So again, this is the state of digital marketing right now. That’s what’s working next year may be totally different. There’s a lot of shiny objects that are out there. They take a lot of your attention away from the
Erik J. Olson (08:54):
Prize. So focus on Facebook and our recommendation. Instagram is a very close second. Instagram, Facebook, Instagram, Facebook, Instagram, Facebook. That’s where you wanna be. And then focus on likes comments, comments, focus on comments. Nice comment. <laugh>.