How does social media help small businesses and entrepreneurs?
As an entrepreneur or a small business, you are constantly looking for ways to bring your company or venture on the radar of potential customers. Social media is constantly advancing with each passing day. Looking back a couple of years, social media was just a medium for socializing and communicating with your friends. However, in this modern day in age it has become a powerful marketing tool. Using social media in business is a great way to make your business noticeable and attract customers.
Following are some ways social media can help small businesses and entrepreneurs:
Increased Brand Awareness
Nearly half of the world’ population uses social media platforms, with over 1 billion monthly Facebook users and around 300 million monthly active users on Twitter, social media gives a natural platform for your business to gain exposure. This allows for any new entrepreneur or small business to reach the audience they are targeting and find potential customers, expanding their reach. The more number of people you reach on social media platforms, the more number of people will be talking about you which will further increase your brand exposure and awareness. So, social media brand awareness posts are like virtual flyers for your brand. They help build your name recognition and form an identity for your brand.
Decrease in Marketing Cost
For every new or established business, success depends on their marketing. Social media is a tool that allows young entrepreneurs and small business to market their brand and product at low costs. Small businesses and entrepreneurs have limited resource and budget. Social media allows these businesses to be able to grow and reach greater audience with less spending on them. Previously, TV advertising use to be one of the major forms of advertising along with billboards and banners to let the world know about your brand. These forms of advertising were high on cost as well as time consuming. Social media allows for the same level of marketing at low cost. With features like Facebook ad targeting and Instagram promotions, marketers are able to get their content to people of their desired location, age, gender or any other factor without having to bear any extra cost. Thus, with social media makes marketing cost effective.
Learning about your Audience
Through social media, you get the opportunity to be able to interact with your audience and learn about them. It is a platform that can help you and learn about you potential customers and what they want. It helps build a connection with them and learn what kind of communication works best for them. Tools like Facebook pixel help you understand what kind of people are looking at your content and clicking it and whether or not these marketing strategies are converting these viewers into customers. This gives a foresight on what your customers like and dislike as well as find the perfect customer base for your business.
Building brand loyalty
Social media is a platform that lets you stay connected with your customers. It helps you build a community for your brand and fills the pool with all your potential repeat customers. With a social community for your brand, you can keep your customers constantly updated with your product and services thus creating brand loyalty. It becomes more expensive to attract more customers than to keep your existing customers. Brand loyalty helps in keeping your competition away as well as keeping your audience engaged with your business.
Oxbridge Digital works on helping you establish a connection with your audience and building your brand. If you are looking to increase your brand awareness, get in touch with us and we’ll take care of the rest!
