Fortune 500 Data on Social Media in 2021

As of 2018, nearly 97 percent of all Fortune 500 enterprises use at least one social media platform to promote their initiatives and foster positive communication with stakeholders. This statistic was back in 2017-2018. I’m guessing in 2021, the % change is almost 100%. Its clear that using at least one social media network, such as Linkedin, Facebook, Twitter, or YouTube, in order to establish a good communication line with stakeholders, customers and advocates is crucial in 2021.

Determine which social platform serves your brand or service better. Whether you are a seasoned social media marketer, a marketer looking to venture into social media marketing, or a business owner looking to leverage on social media, it’s helpful to know the most popular social media sites around that will amplify your brand. Choose the most popular platform based on your company’s product or client demographics. For example, Financial Advisors would choose Facebook, LinkedIn or Twitter over Instagram. Actual product Fortune 500 retail marketers that need more “visual” branding would gravitate towards Instagram or Pinterest.

Pro Tip: Don’t let your Facebook, Twitter or Instagram gather cobwebs, you need to “show up” day after day with fresh content. Instead of spreading yourself thin across 5 different sites, focus on 2-3 primary accounts. Incorporating social scheduling and automation saves time and energy. Picking and prioritizing your social networks based on your audience location. Repurpose content so your not always trying to reinvent the wheel. Build your presence and following on those accounts as much as possible. If you do not have Fortune 500 type social media resources, just pick and focus on 1 platform. Once you get the hang of it (content creation, scheduling) branch out and add another platform. You can also outsource the work to a contractor. When you outsource anything, one of the greatest outcomes is gaining expertise that isn’t currently available to you. This is especially true when you’re considering outsourcing social media management.

Reducing Support Costs by Leveraging the YouTube Platform

In these tough Covid economic times where there are layoffs, companies are looking to cut or reduce costs anywhere they can. One of numerous ways to cut costs is in the “support” department. Many joke that Marketing departments are cut first when it comes to layoffs. Not true anymore as EVERYONE now is vulnerable. A colleague of mine who is a product manager for a Silicon Valley firm recently lost ½ his technical support staff due to layoffs. The company, and the product support group, is now overwhelmed with customer “issues.” With half the staff gone, there ways to “bridge the gap” for his small support team. He asked me for any recommendations. I told him straight up to look at a video sharing platform to alleviate the tech support crunch, specifically YouTube.

Leveraging YouTube

Create a YouTube channel specifically geared towards your company, product or service you need to support. Smartphones these days come with hi-res video built in. Leverage that smartphone feature for free without buying digital video equipment. Dig through the support “issue” database and sort out the top 10 topics or questions that customers submit to you via email, contact form or through social media. Sit down in front of a computer with the smartphone and record how to resolve each issue (or submitted question) step by step and narrate.

This can work for hardware, software, or services that needs support. Sit down and go over frequently asked questions (FAQ’s). They can be simple setup questions or advanced features questions. Get CREATIVE in your videos. Record all possible workarounds surrounding your product bugs or customer general questions.

Post the link to your YouTube channel from the technical support site section on the company’s web page. One advantage of using the YouTube platform is that you do not have to incur the cost of hosting the videos yourself. Make sure to optimize your YouTube Channel.

The YouTube Advantage

  • Zero MB/month traffic usage costs
  • Zero hosting costs associated with these videos taking up space on your servers
  • 24/7 YouTube up time for customers around the world

You get the idea. This is a major value-add if your support team is understaffed. Hopefully, in time, the technical support call volume (email) will decline.