9 Ways a Small Business Benefits from using Social Media Marketing
A surprising number of small business owners are still not tapping into the powerful marketing potential of social media marketing. According to a recent report nearly 40% of small businesses avoid social media.
There are many potential reasons that a business owner may have for not using social media such as:
- I don’t have the time
- I don’t know where to start
- I don’t use social media myself
- I don’t feel my business needs it
Whatever the reason might be, the truth is that your customers are using social media and that is why you need to use it for your small business. The benefits of using social media far overshadow any reason you might have for not using social media.
Benefits of using Social Media for your Small Business
#1: Reach potential new customers
This is probably the biggest benefit to small businesses using social media. It allows you to reach potential new customers on a scale not possible with any other marketing medium.
#2: Stay in touch with existing customers
What better way to stay in touch with existing and past clients than to have them as part of your audience on social media. You can inform existing customers of new products, services, and upcoming promotions. Or perhaps invite them to an upcoming event.
#3: Raise awareness of your business
Make sure that as many people as possible know who you are, what you do, and how to reach you. This is a strategic goal that we currently have at Dufferin Media. There are many ways to achieve this and one is to have an active and effective presence on social media. This is a huge benefit as you can reach many people in your target demographic that may currently not be aware of your business.
#4: Reduce marketing costs
Traditional marketing such as print and radio ads are notoriously expensive. Small businesses rarely can afford a reasonably effective campaign on these mediums. Social Media Marketing is so much more affordable and a smaller budget will go much further. More importantly the results can be quantified by real statistics. If you are paying $1000 per month for a print ad in your local newspaper how many of your ads are actually getting viewed? There is no way to tell. A fraction of that budget spent on Facebook Paid Ads will give you higher results which you can measure. In general the new rule of thumb is that a $20 boost results in approx 1000 impressions (eyeballs).
#5: Increase the traffic to your website
All social media profiles include a link to your website, and in addition you can use social media posts to link back to your website. According to many business owners social media makes up over 50% of the traffic referral source to their website. In our experience, Facebook, Twitter and Pinterest are the most powerful traffic generation tools.
#5: Build up a loyal online community
Building up your own community is a huge benefit of using social media. Cultivating a loyal audience on Facebook, Twitter, or Instagram keeps you in front of your regular customers, and they become your best advocates. Maintaining relevant and positive discussions about your business is not only beneficial, but also serves as a modern form of “word of mouth”.
#6: Communicate new products, sales and promotions
What better way to announce a new product launch, or special promotion than being able to share it in real time with your own audience. You can even boost the announcement and get further reach.
#7: Stay competitive, relevant, and current
Every market and industry is changing fast in today’s world. Using social media shows that you are staying relevant. Without a social media presence your business may appear closed, or obsolete.
#8: Increase your search engine results
Nearly every business wants to be found on the first page of Google when a potential or existing customer searches for them. Social media profiles are indexed by Google, and using Google My Business as a platform will improve your results.
Regardless of the size of your business, you can and will benefit from using social media in your marketing strategy.