Do small businesses need Social Media Marketing?
When you run a start-up business, you might assume that online marketing is only for giant companies or those who are already well established. You might reason that you need to concentrate on short-term goals to maximize profitability.
Here are some reasons why this would be the wrong approach.
What Social Media has to offer?
Social Media Marketing has grown by leaps and bounds in the last decade. It has become an essential tool for the organic growth of businesses, both big and small.
Today, social media is not a choice but a powerful business tool which can help you create and to establish your niche market, which in turn will help your business to grow and succeed.
Social media is effective for engaging with your customers and even learn from your competitors. It is a platform that helps you increase brand exposure and broaden your customer reach.
Aligning your key business goals with your social media strategy helps you carve a niche in your industry and makes sure you find success emphasizing your long-term goals.
Is Social Media Marketing Right For Your Business?
Let’s face it. Business is changing and so is the environment. You have to strategize, innovate and transform to maintain a competitive advantage.
Social Media improves your traditional marketing:
While traditional marketing campaigns are timeless and still apply to every brand and products, you can create an innovative marketing concept by integrating old-school marketing techniques into your online marketing strategies. This will help you build brand equity and help you get better results.
Social Media helps you improve brand loyalty:
Social media is not just about creating great content and getting followers, it is about engagement and building a community.
In addition, social media can help in understanding consumer behaviour. Also, getting real-time market data and feedback about your brand are equally important as responding effectively to them in order to maintain or rebuild customer confidence.
In fact, 93% of buying decisions are influenced by social media.
So, start with an innovative marketing plan suitable for your small business. Develop a loyal customer base and engage with them to keep them happy.
Social Media for better customer satisfaction:
Social media can be an extension of your brand to connect with your customers on a one-on-one basis. Every interaction with your loyal followers can demonstrate your compassion for them.
Devote some time to social media in order to create a voice for your company. This creates a sense of accountability for your brand and provides insights to gauge your consumer’s response to your marketing efforts.
Challenges of creating business value from social media insights
Along with the benefits, social media brings risks to companies unless handled professionally. When you get access to huge amounts of insights about the market and customers including your competitors, the real challenge is turning these complex information in your favor.
Small businesses can create business value from social intelligence. But the struggle is to understand what exactly they should be monitoring, how to interpret the information received through social interactions and how to protect themselves against the risks of social presence.
If you feel you are out of your depth in this area, hire a professional that can guide you.
As a small business, stay focused and be on top of your game using the right social media tactics. Don’t miss your opportunity to engage and gauge your industry and audience using the right social intelligence. This is sure to help you race ahead of your competition.