8 Benefits of Using Social Media for Your Small Business
Startup companies often struggle in many ways, such as capital, logistics, or marketing. And nowadays, there are lots of tools that can help your business flourish. One of those tools is the Internet.
The Internet is where you can do anything. And, with the help of social media, your business can grow even faster. Here are some key benefits to using social media to make your business successful.
One of the crucial elements of a successful business is its advertisement. Ever since the world of business began, advertising has been there and is used to attract consumers. Traditional forms of advertisement are such as posters and flyers. To further reach specific audiences, business owners would also pay for ads in newspapers and billboards.
These traditional ways of advertising still work to some degree. However, online advertising, specifically on social media platforms, can help attract more potential customers. These kinds of ads could break national boundaries. Since almost everyone in the world has some sort of social media profile, your reach is virtually on a global scale.
If you want to sell a product or service online, chances are that someone has already done that bit. Having a keen brand awareness separates you from others and makes you a pioneer.
For example, say you’re an online watch store. You are sure to find that someone has already been selling watches online. To distinguish your business from theirs, you can sell watches with unique materials, or change the packaging that you sell them in.
When you want to develop brand awareness, consider using social media as a platform to help you attain that goal. Platforms such as Facebook and Twitter often act as effective communication channels that connect consumers and the brand company itself.
Social media can quickly help you address loyalty issues from customers. You can do promotions, discounts, sales, etc. so that your customers will be happy and stay loyal to you. Think of it as a way to give back to your customers for the help they gave you when they patronize your product.
Even if you are a company somewhere in the Philippines or you are based in a small town in Germany, having an excellent social media presence allows you to express yourself to everyone, anywhere in the world. Customers that are thousands of miles away from you will see you.
Where people gather is where you find business opportunities. Since people of all walks use social media, there must be other businesses looking to sell their products or services there.
Interacting with these businesses online is a good idea to educate yourself on trends and ideas that can help further expand your business. You learn from them. Maybe they learn from you too.
In the world of business, everything is fair game (unless you do it in an illegal or shady way, then that’s another story). Since you can interact with businesses on social platforms, you can also track their progress. It is simply there for the taking.
Let’s face it: social media is a channel for honest, clean competition when it comes to business. Knowing your competitors is a way that leads you to the top. By tracking and understanding your competitors, you know what to avoid and what to improve.
Having an excellent social media presence allows you to directly see how customers feel about your products or services.If they love your products, you can quickly react to that, go to mass production, and enjoy an increase in sales. If they are not satisfied with your products or services, you also know that you need to make changes.
Since your income comes from your customers, it makes sense that you should take their opinions into consideration.
Rather than gambling and having to wait on results from traditional ways such as surveys and forms, you can instead use the feedback you get on social media. The feedback you get from social media not only helps you improve your product or service, but it can also function as a springboard for an expansion or a safety net against failure.
As time changes, technology advances. It would be a waste not to make good use of the power of social media. The 8 benefits mentioned above are just a few examples of what you can get if properly utilizing social media.
Lillian is an editor from thewatchcompany.com. She has a thing for luxury goods, especially watches, manual or self-winding. As a beginner, she now works with a bunch of watch enthusiasts and learns something about watches bit by bit. Her goal is to complete her dream watch collection in 10 years.