With the evolution of business and the relationship with social media; social media has become an important tool for businesses to cultivate exposure and interact with clients, potential clients, and those whom are opposed to the product. Your customers are no longer the farmer down the street or even the family in the next town over. We are at a global scale, regardless if you are a small or large business. The presence you hold on either a website or on social media sites can affect your reach as a company. We rely on technology as a platform for gaining or giving information. But social media isn’t about pushing your information out there. Rather it is connecting to your target audience is hanging around the popular social sites. Social media use on mobile devices is seeing a growth of 30% every year. 2 million businesses today are using Facebook advertising for promoting their products and services. With that many different businesses using Facebook as an advertising platform, is it worth trying to cut through the clutter? The answer is definitely yes! Just because they are using Facebook, doesn’t mean they are utilizing the platform. But that’s a different matter. Right now we are focusing on why social media is important.
Increased Brand Recognition
When marketers say repetition in exposure is imperative to the success to a business they are not joking. Santry 360 is a small tax, accounting, and business consultant firm that has small media presence. In order for an advertisement to have recognition in the customer, they need to be exposed at least 8 times. It doesn’t matter whether this is just the name, advertisement, or post from the company. The repetition of the name of the company name resonates in the potential customers. When they are needing to have the service that your company offers, they will remember your company in their mind and would be more likely to look into more information about your company that could sway them.
It is important to pay attention to what your company is posting. Repeatedly posting articles, videos, or opinions are not useful unless they are related to your company in a specific way. Take Santry 360, since taking over all of their social media I have posted several articles that resonate with who we are as company and what we are focused on. Many of these articles are related to manufacturing. We are not a manufacturing company, but we are aware of the issues facing the manufacturing companies and look to help resolve the issue, as a way to better the Quad Cities. These posts show that we are interested in the problems that are facing other industries. Taxes can be as simple or complicated, this can also change depending on your industry. Many companies do not do their own taxes. By expressing this interest into the manufacturing community, there is a chance that they will remember: Santry 360 they were focused on helping our industry (Pro Bono). The company will also recognize that they are familiar with the industry and how it works. It showcases that Santry 360 will know how different factors of a manufacturing business fits with tax deductions as well as the accounting side.
The important point to take out of this section is that repetition of your name on social media is imperative, especially when the company is starting out. But it is also extremely important to pay attention to what you are posting. Your name will be related to what you post, and if it isn’t something that relates or holds the same values as the company then there could be negative views. When it comes to social media negative reactions will cause the individual to unfollow or block either the company themselves or the content. If this happens then there will be negative repercussions and you will lose that potential customer.
Improved Brand Loyalty
Brand loyalty is an important concept, depending on the business/ service offered. From a product stand point saying that I only eat Jiffy Peanut Butter; there are no replacements even considered by the customer. This is complete brand loyalty. What makes a business unique? With several different options out there, why settle and choose one single brand of peanut butter?
Looking at your own company you must figure out what is unique about yourself? What do you offer that either no one else can offer or that you provide the best?
Social media takes a faceless business and gives them personality. As a company you can show what you find frustrating, amusing, what moves you. The people behind the business are unique. These people make up what a business stands for. People are more likely to stay with a company that they feel a connection with.
More Opportunities to Convert
In a community there are at least six different shops that do the same thing. Regardless if it is mechanical, manufacturing, clothing, or even food. And your have to compete with large companies that have more money available to spend on marketing/advertising. Social media gives the chance to the owner to showcase to the public what is unique about them. Sometimes you have to get your hands a little dirty and take customers. But if you have something that is superior, showcase it! Be proud! Every business that creates the same product are not the same. Every business has values, ethics, community involvement, and the people that work for them. Rather I should say work with them.
Social media gives these small businesses a platform to showcase their differences. These differences are the uniqueness that can sway a customer to decide that they recognize with your business and what you offer better than the business that they have used before.
Increased Inbound Traffic
If you look at a small business without any social media presence their business and customer pool is extremely limited to the people that are familiar with your brand. You could spend a lot of your budget to try and convert those that have decided to choose a different company to fulfill their needs.
Going back to brand recognition, every post that your create, share, tweet, or like can lead to a potential customer. It could be as easy as they were curious about this company that they have never heard of. It’s not just the amount of content, rather the important part is the quality and how it relates your business. This increases the traffic to either your social media page or even better, your website.
Decreased Marketing Costs
The greatest benefit of social media for a business the cost, or lack thereof. Facebook, Twitter, LinkedIn, and Youtube are for the most part free platforms. In marketing, free exposure that you can control is the best tool in your arsenal. There can be a cost associated for those who choose to boost posts, or set up advertisements. But it is still considerably less than trying to reach your target market through the old fashioned tunnels.
Time is a big factor when looking at internal costs. Paying a marketers to create, edit, and share the advertising can take a lot of time. For small businesses that don’t have a large amount of content to share with the community, this gives them an opportunity to reach their target market and share the small information and services without spending a lot of time with advertising firms and wasting their budget that could be better spent on developing the business.
Social media is an amazing tool for business to utilize. The target market is already sectioned through the algorithms in place to show relevant information for those interested in that specific topic. Or what you have searched for, social media will read this and show you relevant ads. Social media has many more benefits then what can be shown in this blog post. These benefits are crucial for small businesses that have limited spending on advertising. These platforms help give them a better attempt at a level playing field.