There are 4.8 billion social media users worldwide, about 60% of the global population. This number is also 92.7% of all internet users.

On average, people spend at least 2.5 hours on social media every day .

These massive figures emphasize the importance of social media presence for brands that want to capture large audiences. Budget constraints limit small businesses in terms of their marketing options, but the digital revolution has evened the scales. These days, social media platforms provide tremendous potential for success while being more affordable than traditional advertising options like TV spots and billboards.

Finding the right social media platform is essential for long-term success. Here are some tips to help you determine the best option for your small business:
 

1. Perform Market and Competitive Research

MWVBEs (Minority, Woman, and Veteran Business Enterprises) have a lot of stories to tell, and social media is a fantastic place to share them with interested audiences. Creative and emotionally resonant posts can significantly increase brand visibility and engagement.

But before anything else, it is crucial to determine where your business can capture the broadest audience. According to various reports, this is the ranking of platforms based on the number of users:

• Facebook - 3 billion
• YouTube - 2.5 billion
• Instagram - 2 billion
• WhatsApp - 2 billion
• WeChat - 1.3 billion
• TikTok - 1.2 billion
• Facebook Messenger - 1 billion
• Telegram - 800 million
• Snapchat - 750 million
• Douyin - 743 million
• Kuaishou - 673 million
• X (formerly Twitter) - 666 million

Logically, the platform with the most users should be the best choice. But it isn’t as simple as that. You should meet your audience where they are, i.e., the social media platforms they use. This depends on the nature of your business and the demographics of your target customers. More on this later.

You should also check out your competitors and their social media activities. Are they on the platform you are eyeing? If they are, how is their engagement on different channels? This will give you an idea of what to do, what not to do, and what to improve on.
 

2. Understand Your Audience

By the time you have launched your business, you must already have a basic understanding of your audience.

Understand your target market’s preferences and user behavior to maximize your social media presence. Facebook may be the dominant social media platform in terms of user base, but you have to determine if it’s where your audience is most active.

Social media engagement helps small businesses build a strong brand presence . These platforms link consumers directly to brands, which can be a mutually beneficial setup. Companies can get insights into their audiences and receive valuable feedback to improve operations. Customers can also learn about the brands they support and look up products they may be interested in, so companies should put their best foot forward on these platforms.
 

3. Identify Your Goals

The customer journey is multi-layered and involves multiple steps. Leads oen go through different pathways before finally deciding to purchase a product or sign up for a service.

Identify SMART (Specific, Measurable, Achievable, Relevant, and Time-Bound) social media marketing goals to determine which platform is best for you.

Here are some examples of social media objectives:

• Brand awareness
• Web traffic
• Customer engagement
• Reputation management
• Lead generation
• Conversions and sales

 

4. Choose Multiple Social Media Platforms

Capture the broadest possible audience by maintaining a presence on multiple social media platforms. Facebook and Instagram are the top choices for businesses because they have billions of users. If most of your customers and prospects are Gen Z or Gen Alpha, you should also be on TikTok.

Again, it all boils down to the customers and where they are most active. Multiple social media accounts will help increase your visibility and connection to an engaged audience. Make sure you also assimilate to the tone of the platforms you have chosen for your brand to be more relatable.

You must also grasp the primary use of every platform and its attitude towards MWVBEs.
 

5. Maximize Available Resources

Maintaining multiple accounts on different sites entails different strategies and content, so don’t spread your resources too thin. It is better to share high-quality content on just one or two platforms instead of churning out low-effort posts on as

many accounts as possible. Content is still king, and you must consistently provide valuable and entertaining information to engage your audience.
 

The Bottom Line

Social media participation has become a must for businesses of all sizes. Fayetteville-Cumberland MWVBEs have the opportunity to share their wonderful stories on various platforms—it’s all about identifying specific goals and understanding the target audience. When you’ve done that, it is much easier to pinpoint the best social media channels for your content.

The Fayetteville-Cumberland Regional Entrepreneur & Business HUB can help MWVBEs within the area to succeed. Get in touch with FSU HUB today!