A recent study highlighted that 48% of Australian small businesses are using social media as part of their marketing strategy. This number is increasing from year to year, but there are still over 50% of small businesses that aren’t taking advantage of this marketing tool. If you are part of this group, then here are five reasons why you should embrace social media for your small business.
- Low cost
We’re sure you’re aware that most small businesses don’t have huge marketing budgets. Fear not, for social media is heaps cheaper than traditional advertising methods, in fact, you can create a social media presence for your business for free, right now! Once you have your profiles set up, you might want to think about putting some budget behind your content or campaigns, in order to reach a higher number of people. Advertising budget can vary from industry to industry, but in general, social media allows you to reach a large number of people at a relatively low-cost compared to traditional advertising methods.
- Market research
Social media allows you to receive immediate feedback on your products and services. Customers like to speak their mind on social media, and whether it’s a positive or negative comment, you need to be aware of what is being said about your brand. Listening in on those conversations is a free way of undertaking market research to ultimately improve your products and services and provide customers with something of value.
- Customer interaction
Social media is one of the only marketing avenues where businesses can have a two-way conversation with customers. Develop and grow relationships with both current and potential customers by having one-on-one conversations about their experience with your brand. When a customer shares positive feedback on social media about your business, don’t be afraid to publicly thank them. This not only makes them feel special, but it’s also a wonderful form of word-of-mouth marketing. Many businesses worry about negative comments on their social profiles, but as long as you respond to the customer quickly and politely, you shouldn’t run into any further issues. Don’t even think about ignoring negative reviews or responding to customer complaints with robotic, generic answers, as this will cause the issue to escalate even further.
- Legitimise your brand
Many people turn to social media to glean information about a brand, and if they can’t find you, then you’re seriously missing out on a whole heap of potential customers. Having a social media presence not only gives your brand validity, but it also gives customers current information on your business, the products that you offer and the promotions you are running.
- Boost sales
Whilst interaction and engagement is great for increasing brand awareness, the ultimate goal is to increase sales. Social media networks are making it easier for users to buy from brands without leaving their site. You can now integrate your Shopify site with Facebook, making it easier than ever for users to buy your products. Instagram have also recently been testing ‘shoppable’ tags which allow retailers to tag their products in images, and direct users through the buying funnel with ease. This means users can buy products they see on Instagram directly through the app, without having to search for those products in other windows.
Now you have a better idea of why your small business should be using social media, we are here to help you get started. Get in touch today to find out how we can put together a custom social media strategy to build your business from the ground up.
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