Why Small Businesses Should Invest in Social Media Marketing
Let’s face it. Social media marketing has long become a serious competitor to paid search.
- More than half of social media users turn to social media to research products.
- Marketers keep on increasing their investments in Youtube, Facebook, and TikTok
- 79% of people surveyed believe that their purchasing decisions are significantly influenced by user-generated content on social media platforms.
All these stats speak for themselves. So let’s dig deeper and find out how you can benefit from social media marketing (SMM) and boost your business growth.
Marketing through social media platforms is a powerful tool nowadays. From personal branding to advertising, from fostering connections with individuals to improving sales through social media channels – SMM helps millions meet customers’ demands and pick up their business. According to Hubspot, “Over the past two years, we’ve seen a shift in the way brands promote their products or services on social media. And, as social media popularity continues to grow — we reached over 3.7 billion social media users globally in 2021 — brands aren’t just wondering how they’ll engage huge social media audiences next year.”
One of the top benefits of SMM is strengthening your company’s exposure. As a result, one can improve website traffic, lead generation, and build trust among target customers with SMM. Whether you want to focus on organic advertising by creating user-generated content and bonding with your audience or concentrate on strategic marketing campaigns – social media platforms can strongly empower your business growth.
Small companies may have peculiar advantages over big businesses regarding social media marketing. SMM offers plenty of opportunities to enhance one’s business. It’s easier for a small business to foster genuine and individualized communication with its target audience. According to WordStream, “Over 70% of people who have a positive experience with a business on social media will recommend that business to their networks.” With innovative social media strategies, small entrepreneurs can improve their ability to compete with large companies, and here’s an in-depth guide on how to do it.
Increasing Brand Awareness
It’s quite a challenge for a small business to stand out among other similar companies that work in the same area. Your product may be way better and have better quality, but it’s all useless if few people know about your business. Brand building is essential for any business, especially for startups and small companies. The critical element of increasing brand equity is giving your brand a personality – and social media is essential for personal branding. You need to choose your style and voice that will correlate with your brand. Be yourself, be unique, and most importantly, be persistent to see what content works the best to increase your brand awareness. The brand personality should speak through posts, videos, and live chat – it should be consistent.
Boost Website Traffic with High Customer Engagement
It’s easier for small businesses to remain accurate and keep genuine communication with customers on social media platforms. This results in higher customer engagement and better website traffic. By creating engaging content like informative posts about your product/service or explainer videos, you can improve website traffic. According to the Breadnbeyond survey, people are more likely to learn about your product through an explainer video rather than other website content. However, it’s essential to monitor what content videos/posts/pictures are more engaging and brings more traffic. Data synchronization is crucial in analyzing the traffic and examining your customers from every angle. With practical data synchronization tools, you’ll be able to attract more target audiences, and this is our next point.
Find Your Target Audience Easily
Before spending tons of money on ads, a business needs to find its perfect target audience. Otherwise, one will just waste money on people who aren’t interested in their product/service. Social media is great for examining your audience and understanding who your customer is. You need to focus on your current customers by researching personal data like age, location, spending power, etc. If your business is a small startup, you can gather compelling data by crafting polls and manually examining data. However, if you’re looking for a more elaborate solution, you might enjoy different analytical tools like Facebook Pixel or think of your own CRM (customer relationship management). Such devices provide an in-depth analysis of your audience and help you detect what makes them buy your product.
Raise Your Sales with Social Selling
Customers turn to social media to search, examine, compare and buy products as never before. The lack of social media presence may result in customers avoiding purchasing a product – as there isn’t enough engagement with the brand. Social selling is easy for small businesses thanks to the trust built on a personalized approach and deeper communication. More than half of clients prefer shopping at small businesses because of the personalized attention.
Lower Your Costs on Advertising
A small business can significantly lower its costs on advertising as using social media is free. So by generating organic content by starting a blog, for example, you can attract and engage a new target audience. The only resource you’ll be spending is your time. Youtube videos with product giveaways or contests, engaging posts on Instagram, and viral TikTok videos are free yet effective. You can learn what content works the best for your business needs and boost your advertising strategy. Don’t forget that you can use Facebook advertising, and it won’t be as costly as other advertising means. For a small business, you don’t need to reach a nationwide audience. As a result, local focus equals spending less budget.
Beneficial Partnership with Neighboring Small Businesses
Small companies are more community-focused; as a result, it’s more accessible to partner with close-knit businesses. Neighboring businesses can help you boost your brand equity, reach more audiences, and improve your sales. All you need to do is find a field-related small business and create an effective collaboration campaign. The ways of cooperation are simple. You may create a joint giveaway with products from both companies. You may exchange discount coupons. For instance, if a client buys a product from a complementary business, they get a discount to buy from your company and vice versa. Moreover, you can even think of creating cross-related products. The sky’s the limit.
No doubt, social media marketing is vital for contemporary business. Social spending will only keep increasing, so companies need to benefit from investing in SMM. 67% of marketers plan on aiming at Facebook ads in the following years. SMM remains a winning solution to lead generation, attracting traffic, bonding with loyal customers, and boosting sales. As a small business entrepreneur, you can benefit from focusing on SMM. Gain more smart insights to get to know your audience better, increase your brand awareness, save your budget by using social ads to promote your product, and easily improve ROI for your campaigns. And remember that as a small company, you can outrival big companies by being more genuine and providing your audience with the personalized communication they seek.
Olena Prykhodko is a Marketing Specialist at Coupler.io, a data integration tool. She has 2 years of experience in outreach and content marketing. Olena loves networking with people, so connect to her on Linkedin and share your feedback about the article.