KPMG Spark Blog

Deciding What Social Media Platforms Are Best For Your Business

Starting your own business is a daunting task in itself, but by adding in the complexities of finances, bookkeeping, employees, payroll, customer service, and so many more it’s easy to drown yourself in responsibilities. One aspect of the process of starting a business that is crucial to its growth is the use of social media.

Social media can expand your potential client base by a significant amount and can allow you to reach your intended audience much easier - and perhaps less expensively - than by traditional media. Simultaneously starting several social media pages for your business can be overwhelming, to say the least. Here we outline some factors you should consider when choosing what social media platforms to employ and how to use them to engage with your customers, clients, and partners. 

Users & Usage

When deciding what platforms to use, it is important to know who uses what and how they use it! Identifying key demographics about the audience you want to reach - your potential customers - is essential in choosing what platform to use to try to reach them. The social media with the largest audience is Facebook with over 2.6 billion monthly active users. By utilizing their platform you have access to the largest number of people. However, say your business targets a younger generation and has access to visually appealing media. If that is the case, it may be more advantageous to utilize Instagram’s platform, as they tend to attract a younger audience. Many platforms provide demographics such as age, gender, geography, income, and education free of charge so you can determine what is best for your business.

The uses of social media vary wildly. There is video sharing on platforms like YouTube and TikTok, photo sharing on a variety of platforms, recipe sharing on Pinterest, and the list goes on. It is important to determine what social media platforms your intended audience is going to be using based on the reasons they will use social media. For example, do your desired clients post pictures and videos? Or are they looking to connect their business to yours? You likely would not post about a job listing on Facebook when sites like Linkedin are dedicated specifically to connecting professionals. You have to make sure your content on your profiles matches the platform and your brand.

Engagement

Image of KPMG Spark Instagram account

Another factor that is important to recognize when deciding what social media to use for your business is how often people are using social media, and how effective it is in getting people to use your service. For example, Instagram receives an intense amount of engagement because its platform uses ‘likes’, ‘comments’, and ‘stories’ to increase user engagement—especially with brands. On the other hand, while Facebook offers similar features, it has been built as a community website where people can follow other people’s pages, groups, and events. While there may be more variety of features on Facebook, on average it receives less engagement. This is why many companies and brands use Facebook as a social media hub and community for their customers. See what kind of engagement your business needs and determine which platforms best suit your needs. 

Compatibility & Potential

It is important for your business and the social platform to be compatible and have the potential to grow together. This is where an up and coming platform can be beneficial as there is little competition for engagement. But your desired customers and clients will no doubt already have a preference as to what platforms they are using and therefore you will need to match that. Each platform has its challenges and benefits as outlined in the infographic below. 

Content

No matter the platform you choose, the content you present should cater to your clients and partners—past, present, and future. Social media is intended to be concise, fresh, shareable, and give insight into your business. So have fun with it! 

Just as social media can be an unforeseen stress for small business owners, bookkeeping is another task that often gets overlooked and becomes a thorn in the side. But we at KPMG Spark are here to help you so you can keep your records in order and focus on the things that matter most in your business!

INFOGRAPHIC:

https://www.leveragestl.com/social-media-infographic/

STATS:

https://www.statista.com/statistics/264810/number-of-monthly-active-facebook-users-worldwide/

· This blog article is not intended to address or provide advice concerning the specific circumstances of any particular individual or entity and does not constitute an endorsement of any entity or its products or services. 

· Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

· The following information is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230. The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.

Ben AsplundJuly 9, 2020Posted In: Business Tips

KPMG Spark is an online accounting service that saves you time so you can focus on what’s most important for your business.

6 ways to make customers the keystone of your business

KPMG Spark's online accounting service provides personal customer service to every client. Learn tips on how to make your customer service into a tool for your startup.

Eric BeardenSeptember 22, 2020Posted In: Business Tips

Client highlight: Otter Learning

KPMG Spark is so proud to be able to work with many amazing businesses and brands. Discover the secret to success in business through our client, Otter Learning.

Ben AsplundSeptember 15, 2020Posted In: Case Studies

Why join industry associations ?

What are industry associations and why are they relevant to you?

Ben AsplundAugust 28, 2020Posted In: Business Tips

KPMG Spark Launches Website Focused on CPA Firms and Accounting Practices

Today, KPMG Spark launched a website that shows how CPA firms and accounting practices can gain a competitive advantage by using Spark's online accounting platform. Featuring a savings calculator, demo video and additional information about Spark's technology and service platform, the site demonstrates how KPMG Spark helps CPA firms serve their clients more profitably.

KPMG SparkAugust 11, 2020Posted In: News

KPMG Spark Helps Small Businesses

The variety of services offered by KPMG Spark allows our clients to grow, develop, and focus on things that matter most. Our services take the responsibilities of bookkeeping and give you all your necessary financial information at the touch of a button or from a quick call to your dedicated bookkeeper. Our contributions not only help you save time so you can focus on other aspects of your business, but it also gives you the information you need in an efficient, presentable, and tax-ready format. 

Ben AsplundAugust 11, 2020Posted In: Accounting Resources

How To Find New Customers Remotely

In an increasingly online world, finding new customers as a small business is essential for growth. It can be difficult to find customers that will use your service or product and stay loyal to your company. Here, we outline ways to find new customers in a competitive online space.

Ben AsplundAugust 10, 2020Posted In: Business Tips

Why Do I Have To Do Bookkeeping?

Starting a business can be a busy time for any entrepreneur and to some, worrying about bookkeeping can seem like an unnecessary task. But, as intimidating as it may be to have a bookkeeper, there are many benefits to online bookkeeping and a strong accounting platform; and several problems can arise when a business does not keep their bookkeeping up to date.

Ben AsplundJuly 9, 2020Posted In: Accounting Resources

Differences between Accounting and Bookkeeping

Picking up the skills of bookkeeping and accounting can be time-consuming and difficult. Understanding the difference can help you focus your spending on what is most necessary, what you can do yourself, and what KPMG Spark can help you with. Here, we’ve laid out the differences between bookkeeping and accounting so you can get back to your business and do the things you enjoy.

KPMG SparkJune 14, 2020Posted In: Accounting Resources

How San Juan Huts Uses KPMG Spark Online Accounting for their Outdoor Business

Located in Colorado, San Juan Huts is a trans-generational business that offers "hut-to-hut" backcountry tours in some of the most remote spots in along the Rocky Mountains. Their network of singletrack trails and routes is dotted with 16 isolated huts that makes for more enjoyable adventures. They also happen to be one of our favorite clients. 

KPMG SparkPosted In: Case Studies

Subscribe

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.