It is clear that during the turbulent time that was 2020 and continues to be 2021, all media outlets have been inundated with specialists. While the keyboard sceptics on social media and the actual professionals have engaged in verbal warfare, the world has kept turning.

It has been a difficult time for us all. With real workplaces becoming virtual and the rise of online business being conducted via your chosen platform of screen time choice, this isn’t the new normal. It is just our world turning.

But while it can be easy to dismiss social media platforms from a corporate or beneficial business practice due to the noise, read on. There is a reason, after all, why we have a boardroom that isn’t a public space. 

Social media doesn’t necessarily mean you need to join in. You just need to know where your people are. 

As with all media forms, there is good reason to still use those most relevant to you as long as you know what you are doing.

Twitter, for example, has an immediacy that the traditional press just cannot compete with. In the time it can take for a story to be found, filed, edited, proofed, typeset, blocked at the printing presses and delivered to your door, it is very old news. This can be both a huge marketing benefit for businesses but also can mean that misinformation and attempts at brand defamation are a risk, as has very much been proven with Trump’s latest Twitter spree and therefore permanent suspension from the account. 

LinkedIn can deliver a myriad of potential jobs, clients, networking groups, industry trends and actual demonstrable businesses. As a platform LinkedIn is still considered the most business focused social platform, however one downside is that the algorithm can sometimes mean that you miss a lot of current affairs and instead receive the news that is more appropriate to grace a dental waiting room than that of today. 

And then there is the behemoth that is Facebook. What is considered often to be the original social platform, which offers a constant swelling mine of data that, unless you build an approach to using it before you use it, means that you can get lost down many rabbit holes within minutes. This platform’s purpose remains mainly social to this day, in order to stay up to date with your ‘friends’ activities, although they have now begun to branch out to the likes of Facebook marketplace, dating, gaming and even job searching. 

As with any media platform, it is about building a strategy that incorporates your objectives before you set sail upon their respective boats. 

High-net worth individuals (HWNI) on average use 2.6 social media platforms and so the first thing to note is that, irrespective of which ones you prefer, you need to understand which ones suit your business. Let’s not forget, underneath the facade of a social platform is the reality that they are a data capture business.

It is key to keeping that in the forefront of your plans for social in order to maximise your return from them.

The objective is purely selfish; make all roads lead to you.

This means understanding the platforms but then investing in training your personnel on how your company uses them and why. Corporate accounts have the tone of the business across them and the content strategy will play to the strengths of each platform you use. 

Segment your content on them across verticals, products and countries and you will already begin to be using them proactively.

Once you have the definition of this, you can step towards the goal of increased engagement. Not just on these virtual platforms, but within your real business.

Subsets of these public platforms can lead to the creation of private groups. Here you can invite clients, suppliers and key personnel to be able to nurture a community. In turn, this leverages business through your openness to sharing. 

The key to 2021 will be through authentic and supportive relationships. Social media can bring that to the table quickly, efficiently and cost effectively.

This is achieved by something that goes beyond simply providing information to the audience. Inspire them by sharing insights. Be personable with your tone and keep it interesting. Switch easily from focusing on one topic and instead balance market and private equity updates with updates of personal stories and passion assets.

Sharing recommendations from your investment officers or key personnel add character, confidence and personal touch to your business, as well as reassurance the viewer. It can spark both an interest and a talking point, both of which open a conversation. 

Many entrepreneurs around the world now thrive on these platforms and you should too. Social media is no longer the platform that some would have you believe. Corporate information through to philanthropic endeavours are not only encouraged but thrive on these platforms.

But above all else, for all the algorithms, technological terminology and pitfalls that may make the headlines, it is a very real virtual world full of fascinating people, ideas and business.

To not be there is to miss out and be left behind.

To achieve best practice from your social media presence, contact En Avant today.