Author: Ben Burns

Business banking: 10 key learnings for using social media in your business

Our Hamilton Branch manager Ben Burns shares ten tips he got from a great presentation on small business use of social media. 

I had the pleasure of attending the Hunter Business Chamber’s July Business Development Forum yesterday.

The guest speaker was Christena Singh from Sensis. She presented the key take outs from The 2013 Yellow™ Social Media Report that she authored. 

The report is in its third year. It is one of three annual business reports put out by Sensis that are filled with useful data and insights for businesses.

Here are the ten key things I got out of Christena’s presentation.

1.    Australia has a high usage of social media.

  • 65% of the population actively use social media, 96% use it at home and 34% use it at work.

2.   Social media can be used for business.

  • 25% of people on social media follow brands. (94% use social media to keep in touch with family and friends).

3.   If you are using social media have a strategy for using it. The strategy should be part of your broader digital strategy.

  • 29% of small businesses and 24 per cent of medium businesses that use social media do not have a strategy to drive traffic to their social media sites

4.   Different demographics favour certain social media sites.

  • eg Pinterest is almost exclusively used by women and Instagram is popular with younger people.

5.   People are using social media across the day.

The key times people use social media are first thing in the morning (37%) and in the evening (53% use it after work and in the evening and 42% use it as the last thing they do before they go to bed).  Note that the numbers don’t add to 100% because people use it multiple times a day. And, disturbingly, 6 % check social media while they’re in the toilet!

6.   The smartphone is now the most popular device for social media access overtaking the laptop and pc.

  • smartphone 67%
  • laptop 64%
  • tablet 35%

The take-out message here is that people are more likely to access social media on a mobile device. Make sure your social media and other sites are optimised for mobile devices.

7.   People are using social media to research products and services and then buy in-store and online.

  • 58% of people using social media to research products ended up purchasing but 50% of these people made their purchase at a bricks and mortar store.

8.   You must interact with people on social media on their terms.

  • 46% of people are happy to see ads on social media
  • 84% ignore sponsored posts
  • 51% like sponsored ads from brands that they follow

9.   People are looking for freebies and discounts on social media but also tips and advice.

  • discounts 66%
  • giveaways 56%
  • product info 49%
  • tips and advice 48%
  • coupons 44%
  • company info 35%
  • ability to give feedback 34%

10. Business needs to get smarter about using social media and evaluate.

  • Only 30% of small businesses are active on social media
  • 25% of small businesses using social media are measuring the return on their investment in social media.

Thanks for a great presentation Christena. Are you using social media in your business? Is it working well or not? Please share your thoughts below.