Whether it's a necessity in your life or if you just engage for fun, social media is the networking and branding of the future. Furthermore, it's not going anywhere. These five social media platforms are crucial for entrepreneurs in 2021.
Pailor knows that social media is vital for entrepreneurs. But which social media platforms are the best to market your brand? Let's delve into which social media platforms are best for entrepreneurs. Join Fundid today for more content and resources from our community of women business owners.
Social Media Platforms Every Entrepreneur Should Invest In
Knowing your target demographic will have a positive impact on helping you determine which social media platform is right for marketing your brand.
Facebook has changed the way that people use the internet. For many, it's the first social media platform whose main use is to allow friends and family to socially connect. As far as monthly engagement is concerned, Facebook is still the number one performing social media platform and has more than 2.23 billion active users every month.
Significant algorithm changes show that more posts from family and friends are viewed more than public content, including posts from businesses and videos, ranking at number five. So according to the algorithm, Facebook wouldn't be the best platform to market your business.
● 84% of Facebook users are 25–30-years old.
● 74% of those Facebook users earn over $75k annually.
● 269 million users reside in India, 183 million users reside in America, and another 123 million users reside in Indonesia.
Instagram is one of the first intentional social media platforms for entrepreneurs and influencers. Unfortunately, Instagram seems to be the first platform that entrepreneurs go to for marketing, which has made Instagram not the best place to market your brand.
With 112.5 million users in 2020, a 5.4% increase from 2019, it's nearly impossible to remain in the forefront. Did you know that only 41% of 30–49-year-olds even use Instagram? So, with that, Instagram may not be the best platform for marketing your business. Therefore, it's crucial to monitor algorithm changes and social media demographics.
● 75% of Instagram users are 18–24-year-olds.
● 43% of those users are college graduates.
● 42% of those Instagram users make more than $75k annually.
Twitter is the bedrock of opportunities that gives users a place where they can share their videos and YouTube content. Additionally, it's a great space to create an online community of like-minded professionals.
Twitter users don't mind sharing their opinions on topics, which makes it easier to determine if someone is an ideal client. Twitter just happens to be the go-to platform for journalists. If you're looking to write for top publications, look for one of their writers on Twitter and try to sell them on your brand. There is a good chance that you could be mentioned in their next article.
● 44% of Twitter users are 18–24 year-olds.
● 31% of those users make more than $75k annually.
● 32% of those Twitter users are college-educated.
Ever heard the saying, "Video content is king"? Well, that sentiment makes YouTube is the mega-platform for entrepreneurs. However, there is a learning curve that you must familiarize yourself with for your brand to be successful.
If you want to get acknowledged as an expert in your field, YouTube has proven to be a smart choice and is one of the top choices for entrepreneurs.
● 93% of YouTube users are 25–30 year-olds.
● 80% of those users are college-educated.
● 83% of YouTube users make over $75k annually.
If you're looking to find clients, professional connections, or even investors, LinkedIn is your place, and if it isn't, then it should be. LinkedIn is where entrepreneurs and corporate businesses can network and collaborate on ideas.
According to a Pew Research study, LinkedIn ranks fifth on the "most popular social media platform for Americans" list and has about 675 million users monthly. Can you count the opportunities here just waiting to be explored in 2021?
The majority of LinkedIn users seem to use the platform mainly for business purposes like networking and making connections with their brand. If you're looking to become known as a leader in your space, then LinkedIn is, without a doubt, the best social media platform for your brand.
● 49% of LinkedIn users make over $75k.
● 44% of LinkedIn users are 25–30-year-olds.
● 51% of those users are college-educated.
Fundid is on a mission to get women owned business the capital they need to grow so that we can all close the business wealth gap. While 42% of business in the US are owned by women, they only account for 4% of revenue generated by private businesses. We spend our time at Fundid thinking about what the world would look like if women also generated 42% of revenue and how to get them the capital they need to make that happen. Fundid is a challenger business bank, business lender and grant marketplace built on from the feedback of women entrepreneurs.