While there are lots of risks on social media marketing, there are also lots of benefits for Small Businesses. Social networking can provide new opportunities for new relationships whether it is for a new client or current clients. It is important to be vigilant when it comes to your business being involved on online social networking, but it is also important to encourage positive relationship through various avenues like internet.
Social media advantage
Too many businesses enter into social media because; it’s simply trending to be on social media. They feel they should have a presence simply because their competitors do. There are number of benefits and advantages in using social media for your Small Business:
- Sharing your fresh and relevant content will grab your target clients attention and increase your brands visibility
- You can respond easily and quickly to your audience or potential clients inquiries
- It is much cheaper than traditional advertising and promotional services
- Social content can directly increase links to your website
- You can deliver better and improved customer service
- Customers can find you through multiple channels, which can improve your leads
- Increase loyalty and advocacy
Social media disadvantage
When you decide to execute social media marketing campaign, you are also committing yourself to social media presence engagement and interaction. Social media can be of your disadvantage if you do not have the time in the world to engage with your customers and potential customers. It can be difficult to have a return of investment if you as a business owner do not have time to handle your social media channels.
- Opens up for possible parodies
- Increase risk of people falling prey into online scams
- Potential loss in productivity
Social media Creativity
Social media can be a great way to reach out to both existing and potential customers, using a creative way to market your products and services. There are 2 ways to involve your small business in developing new social media strategies online.
- Crowdsourcing – asking your current network for possible improvements, or solutions that your company is now facing.
- Open innovation – Allow people to submit their own competitive ideas and innovations for your company
With so many minds to give you an idea on how you can improve your services outside workforce can benefit your business from :
- Wisdom and creativity
- Increase livelihood of people
- Perspective of customers and potential customers who may have issues that you are not aware of
- Lower cost when developing products or enhancements
Advertising on Social media
Social networking sites such as Facebook, Twitter and Google offer a number of advertising options including PPC, PPV, banner ads etc. Advertising can be targeted against a variety of demographic criteria like Facebook adverts, which can give your business a relating tool for your valuable customer profile information. This will allow you make informed decisions about whether which social media platform is appropriate for your marketing campaign.