As a small business owner, deciding where to invest your online marketing efforts can be daunting. Two dominant platforms vie for your attention: your business website and social media. But which one offers the most bang for your buck?
Read on for a point-by-point comparison, answering some of the most pressing questions you may have.
Visibility & Reach: How Can I Reach the Most People?
Website:
SEO allows businesses to reach a vast audience. With over 3.5 billion Google searches per day, a well-optimized website can attract a massive amount of organic traffic.
Websites reach a broad demographic spectrum, as internet use is pervasive across all age groups.
Social Media:
As per a Pew Research report, nearly 70% of U.S adults use Facebook, and three-quarters of them check the platform daily. Instagram has over 1 billion monthly active users.
Social media platforms, especially Instagram, have a younger user base, making them ideal for businesses targeting millennials and Gen Z.
Trust & Credibility: Where Will Customers Trust My Business More?
Website:
A Stanford Web Credibility study found that 75% of consumers judge a business's credibility based on their website design.
A website gives businesses complete control over their branding, enhancing perceived trust and credibility.
Social Media:
Platforms like Facebook and Instagram allow for real-time interaction with customers, which can build trust through engagement.
However, businesses have less control over their branding on social media and are susceptible to negative comments and reviews.
Sales & Conversion: Which Platform Will Drive More Sales?
Website:
A Search Engine Journal report indicates that 93% of business purchase decisions start with a search engine search of websites. This means if you don't have a website, you are only selling to 7% of your market. That is right, you are reducing the potential size of your business by 93%.
Websites allow for a streamlined customer journey, from browsing products/services to making a purchase, which can result in higher conversion rates.
Social Media:
Social media platforms are rapidly incorporating more eCommerce features, like Instagram's "Shop" button. Still, as of 2021, only 12.1% of U.S. retail ecommerce sales came from social commerce.
Social media can be effective for lower-cost impulse purchases and businesses with a strong visual appeal, but not so much for big-ticket items or purchases that require some thought.
Customer Engagement: Where Can I Best Engage With Customers?
Website:
While websites offer some engagement through blogs and contact forms, they lack the immediate and interactive nature of social media.
Social Media:
Social media excels in fostering engagement, with options for likes, comments, shares, and direct messages. Brands can interact with their audience in real-time, strengthening their connection.
Data & Analytics: Where Can I Get More Insights About My Customers?
Website:
Websites, coupled with tools like Google Analytics, can provide comprehensive insights about your audience, their behavior, and their interaction with your site.
Social Media:
Social media platforms offer analytic tools, but these often lack the depth provided by website analytics. Besides most social media platforms analytics are skewed towards the goals of the company offering them, not your business.
Conclusion:
From this comparison, it's clear that both websites and social media bring unique strengths to the table. Websites are more effective for building credibility and driving sales, while social media is great for engaging with your consumers and adding exposure to your brand.
The optimal choice largely depends on your business goals, your target demographic, and the nature of your product or service. For a well-rounded digital presence, leveraging both platforms is the most effective strategy.
And if you could use help with both, it only takes 30 seconds to schedule your consultation. It's free, it's casual, and it be the first step in taking your business to the next level.