You’re a small business owner. You’ve got a lot going on. Managing your social media may not be priority number one- I get that. “The Twitter” may seem obsolete and something the kids are doing to keep track of the Kardashians. You’re not wrong about the Kardashians but your business can benefit from having an active online presence.
What’s so special about social media? How could a few characters each day truly have any effect on my business’ growth? I’m so glad you asked! No matter your industry, social media marketing is the way of the future. In a survey by Accenture, Millennial shoppers spend approximately $600 billion each year. By 2020 that number is expected to grow to $1.4 trillion (30% of total retail sales). And how do you think you best reach that demographic. You guessed it- social media! 90% of young adults, aged 18-29, say they use social media and one third of millennials say social media is one of their preferred methods of communicating with a business. Now you’re listening!
It’s a valuable tool for interacting with your target audience, actively influencing their purchasing decisions and keeping your business or brand in their minds. Business/customer engagement fosters customer loyalty and even encourages repeat purchases. But…
Your customers don’t want to interact with a robot (or maybe they do- that’s kinda cool!) By making a personal connection with your customers on social media, you are more likely to increase customer retention.
The idea is to build meaningful relationships with your followers. It’s not all about the Benjamins or sales pitches- it’s about starting a conversation. Customers want to work with companies they like, they like companies that take the time to build relationships with them, and you build that foundation through engagement. One study by the Social Habit showed that 53% of Americans who followed a brand online were more loyal to that brand. When brand loyalty goes up, everybody wins!
Social Media makes it easy for your customers to get in touch with you. It’s a great thing—a scary thing, but mostly it’s great! In order to grow your business, you need customers. If you know exactly what your customers are looking for you can give them exactly what they want, and then they will come. Customer insights, driven by social campaigns, can help you shape your website content, service or product offerings, and obtain feedback from customers.
With so many active users throughout the social media universe, why not ask for a little insight?
Social Media is an excellent way to make sure your business reaches its target audience. In the past, it was difficult to pinpoint exactly who you were reaching with your advertisements (but, boy, were you paying to reach the wrong people!). This kind of marketing allows your content to reach your chosen audience quickly and efficiently. And don’t even get me started about “going viral.” One good post and your website, search engine, and social media rankings are through the roof. All at minimal cost! Kind of beats the local newspaper, doesn’t it?
Is it perfect? Yes—I’m just kidding. It’s not perfect but it’s a pretty great system and there should be a definite place for it in any small business’ marketing plan. It is time consuming, however, and should be properly prepared, managed, and tracked.
As you sit there, sigh, and think “Great, one more thing for me to worry about,” remember, there’s help out there. Marketing strategists – like Allium Associates – can help you get a handle of things- long-term or short-term- and your business will Grow. Smarter.
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