Social media has become an integral part of our daily lives. Whether you want to connect with your friends, share your ideas, check what’s happening around the world, share your recorded video, or anything else, you turn to social media. Applications like Facebook, Instagram, Twitter, LinkedIn, and Pinterest are some of the most widely used social media platforms these days. With high-speed internet connectivity and affordable data packs, the usage of social media has skyrocketed. Moreover, the average screen time per day has increased to over 4 hours. Would you think businesses will let go of this opportunity?
Brands have always been proactive in looking out for smarter ways of promoting their products. Those who started using digital marketing long ago are already reaping its benefits and have been successful in reaching a wider audience. Companies that were skeptical of adopting digital marketing have the risk of losing out on the market share and being left behind in this dynamic digital world. You would already know that digital marketing is all about advertising and promotion of products and services through digital channels like search engines, emails, websites, mobile applications, and so on. One of the most important channels for digital marketing is, in fact, social media. All the efforts put into the advertisement of products on social media channels come under the term Social Media Marketing.
While social media for business has proved to be a great idea of profit, is social media marketing also beneficial for small businesses? Read this article to know if small businesses can grow using this powerful marketing strategy.
Social Media Marketing for Small Businesses
There are now over 4 billion active social media users across the world, and businesses now have the opportunity to leverage this powerful marketing channel. It is ideal for small businesses to build brand awareness, make sales directly on the platforms, and develop good customer relationships. Gone are the days when only large companies with sufficient marketing budgets could get their voice heard among the audience. Digital marketing has leveled the playing field and allowed even small businesses to expand their reach and broaden their customer base.
One of the best things about social media platforms is their ease of use. Small businesses can get started simply by creating a Facebook page or start posting about their products on Instagram or Twitter. The first step should be to set clear goals and objectives that are relevant, specific, and measurable. Such goals should be based on metrics that can create a real impact on your business.
Social media is an effective platform for small businesses to generate leads. By posting informative content and resources and posting them on social media, small businesses can offer added value to their prospects and customers, along with nurturing their brand affinity. They get quality traffic to their content because people clicking on the posts are actively looking for the products. Such prospects are likely to convert compared to a random individual watching an ad that is irrelevant for them.
Small business owners are always looking for innovative ways to get their brand name on the radar of potential buyers. They are more individual and community-focused. Social media platforms give them a channel to interact with customers and offer them a personalized experience. This is a crucial marketing strategy where small-scale businesses have the edge over big companies. To make this strategy effective, businesses need to ensure that they post content and engage with their followers regularly.
The other problem that social media marketing solves for small businesses is it doesn’t require a huge budget. If you want to reach potential customers within a certain radius of your business, then you end up spending almost nothing on advertising on social media. For example, if you want to advertise locally on Facebook, you get the option to set a small budget and select your audience instead of spending a lot on reaching people across the country. If that audience is convinced with your offering, they will share their social media experience, which will help you build a good reputation.
One of the other ways for small businesses to grow through social media marketing is by collaborating with other businesses (that are not your competitors). By commenting on their posts or recommending their products to the audience within your reach, the other business can do the same in return for you. You can explore the option of discount coupons; for example, you can offer a coupon code to your customers, which will help them gain a 10 or 20% discount on buying the other business’s products. This proves to be a win-win situation for both small businesses.
Lastly, the efforts you put on social media platforms are measurable, i.e., you can track your marketing campaigns’ progress. You can use social analytics to understand what efforts are actually paying off and which ones didn’t go well with the audience. Various SMM tools are available in the market to help you keep track of the important marketing campaign metrics like impressions, engagements (likes, follows, shares), mentions, reviews, and so on. Tools like Hootsuite and Sprout Social allow you to track all these metrics through a dashboard. They aggregate all social data from different social media channels into a single location, and you get a clear picture of the overall impact your campaigns are creating.