No business, whether big or small, can escape marketing. While large businesses earmark big budgets for their marketing campaigns, small businesses have no other option but to forego that luxury and manage their marketing campaigns with relatively small budgets.
It is needless to say that small businesses need to be extra careful about the type of marketing strategies they adopt as they are mostly constrained by a small budget. They need to invest every penny wisely so that they derive the value for money and keep their businesses going.
To deal with the pressures of small budgets, small businesses can adopt the social media route to effectively market their products and services to bring in revenues.
It is due to efficiency and effectiveness; around 97 percent of the small businesses today prefer to market their products and services online through social media platforms. Social media for business has become a crucial marketing tool in today’s throat-cutting competition.
The emergence of a large number of social media companies is a sufficient indicator of the growing popularity of social media marketing among businesses, regardless of the size.
Enabling effective marketing without incurring heavy expenditure is not the only benefit of using social media by small businesses. Many other benefits make social media marketing a must for all small businesses. The following are some of the benefits:
Presence of Your Customers
With more and more people spending considerable time on social media channels, you are likely to find most of your target audience on the channels. Also, newcomers to social media channels are increasing day by day.
Forecasts show that by 2021, more than 3 billion people worldwide will be using social media platforms. And, that has created lucrative opportunities for businesses, small as well as big, to promote their products and services online through social media channels.
Amazingly, there is no need for the audience to come to you, but on the contrary, you can go directly to your target audience to showcase your products and services using social media.
So, if you are yet out of social media to get in immediately, or else you will be missing out on the great opportunities of marketing your business offerings effectively and easily.
More Customer Engagement
Social media allows you to show the personalized aspects of your brand to your audience. So, they are likely to be more receptive to your messages.
On social media platforms, you have the freedom to be more conversational so you can speak more on your brand to your target audience. You can connect directly to your leads on social media channels rather than delivering one-way messages.
When you post valuable and informative content on social media, you will find an increasing number of people following your brand; and that throws an opportunity for you to pitch them for your products and services. You will also find people discussing your products and services on social media, enabling you to pick up valuable insights.
Social media engagement allows you to connect with your target audience in a personal way, and that helps you to sell your business offerings with ease.
Increase in Brand Recognition
Prompting your target audience to recognize your brand is an important marketing strategy. It works wonders. Enhancing your brand visibility, social media increases your brand recognition. Social media allows you to post compelling content to make your brand more familiar to your leads as well as existing customers.
Seeing your compelling content on social media platforms, people become aware of your brand and the associated unique selling propositions. As more and more people become acquainted with your business the chances of your products and services getting sold increase more than ever.
Increase in Inbound Traffic
Helping to get more inbound traffic to your business website, social media marketing has a direct impact on your search engine optimization efforts.
Your postings on social media help in bringing in more visitors to your website. You should, therefore, post quality content on social media platforms so that you can engage new leads to direct them to your website.
When new visitors get onto your website, you get the opportunity to convert them. So, keep on posting informative content on social media that adds value to your target audience.
Reaching Specific Audiences
Through social media marketing, you can target specific audiences strategically. Rather than posting a common message, you can post special messages targeting specific audiences.
To successfully post tailored messages, you need to firstly create a comprehensive list of your target audience, in terms of their age, gender, location, interest and so on.
Knowing these, you can create mind provoking content targeting specific people on social media. And that will help you in effectively reaching your target audience and driving more and more qualified leads to your website. It is due to the relevant traffic, you are likely to see increased conversion rates.
Marketing through social media enables you to derive results even by cutting marketing costs—and this is one of the most notable advantages of social media marketing. For small businesses, it is a boon. Since, you only need to post content and converse with your target audience, investing lesser time might also give you valuable results.
You do not need to maintain expensive marketing teams to run your social media marketing campaigns. Regardless of the size of your budget, you can effectively run social media marketing campaigns to generate as well as convert new leads.
Improves Search Engine Rankings
Your social media presence is a big factor for search engines to consider your website in the search ranking. You should have a strong social media presence so that search engines find your website trustworthy as well as valuable, and the chances of search engines ranking your website higher in search results become high.
Having an active social media presence does not only help you increase the visibility of your website in search engine results but also enhances the likelihood of your social media profiles showing up on the first page of Google whenever visitors search for your brand.
Make sure that you publish informative and valuable content on social media to draw the interest of the visitors.
Improves Brand Loyalty
Small businesses, often constraint by budget, can leverage the power of social media to build brand loyalty among their target audiences.
You can effectively build relationships with your leads as well as customers to derive their trust and loyalty for your brand. The more you engage with your customers and prospects over social media, the more loyalty you will enjoy from them.
As the strength of your relationship with your customers as well as prospects increases, you can easily educate them about how your business is different from your competitors in terms of value. By working a bit on social media, you can turn them into loyal customers.
Spreads Word of Mouth Marketing
In many ways, social media has become an ideal platform for the word to mouth marketing. Nowadays, brands encourage people to leave behind their reviews and recommend their products and services to others. And such, recommendation helps businesses as consumers prefer buying from recommended brands.
Therefore, you should encourage your customers to leave behind their recommendations as well as reviews on social media to generate valuable word-of-mouth marketing to positively impact your sales. It helps you to build trust in your brand in your leads.
Knowing Customer Insights
Knowing the interests of your customers is very important for you to drive your business. And for small businesses, knowledge is particularly useful to develop prudent marketing strategies within a small budget. Social media is a powerful tool for you to gain such insights.
If you observe what your customers say on social media, you will become pretty acquainted with their likes as well as dislikes. You can also come to know the challenges your customers face and their concerns regarding your brand. You can use this information to improve the satisfaction of your customers.
Besides, you can also use social media analytics to know what type of content is popular within your target audience so that you can understand what type of content you should post to better engage them on social media.
Knowing the Competition
All businesses, whether small or big, should be aware of the competition level due to a simple reason—surviving in business. Social media provides you a reliable as well as a convenient platform to monitor the prevailing competition as almost all your competitors are likely to be present on social media.
This allows you to showcase your brand among the consumers and to educate them about the values your brand carries.
Besides, you can also project your brand as the best among all your competitors through influential social media content. Being present on social media helps you to generate more online traffic for your business website.
Targeting New Customers
Social media marketing has proved to be a boon to acquire new customers especially for small businesses, which usually do not have large marketing budgets. One of the good ways of connecting with consumers who do not know that your business exists is Social Listening.
By following the trending topics on social media related to your industry and checking out who is taking part in the conversation, you can easily figure out whom you can pitch for selling your products and services.
Also, you can engage industry influencers to recommend your products and services on social media so that consumers become aware of your brand and that will help you to acquire new customers.
Higher Conversion Rates
Using social media, you have a terrific advantage of connecting with your leads continuously by posting informative and valuable content.
And that improves the credibility of your brand and at the same time, it also improves your brand loyalty among your target audience. Posting informative, as well as compelling content on social media, allows you to build relationships with your target audience.
And that helps in more and more leads getting converted. Since social media is also a place for socializing as well as networking; it allows businesses to post conversational content, promoting their brands.
Quick Customer Service
Gone are the days when customers allow you a long time to solve problems related to your products and services. Nowadays, they want a quick solution to problems.
Staying active on social media is an effective way to understand the problems your customers face so that you can quickly initiate the necessary steps to solve the problems.
Most customers prefer to post the problems they face with products and services they purchase on social media. In this way, you can keep your customers happy and your brand positive.