1. Competitive Advantage
You don’t have to watch Shark Tank to know that in order for a business to succeed, it needs to have a competitive advantage. Whether it’s being a cost leader & offering your services/product at a lower price than your competition or it’s having a product/service that offers a unique twist on an everyday experience, smart entrepreneurs know the importance of standing above their competition. Social Media Marketing is a key tool for businesses. It’s a strategic way to improve your odds of success in an ever-changing market.
2. It’s Where Your Customers Are
When you ride the train in the morning or walk down a busy city street, notice where the majority of people are focusing their attention. They’re looking down at their smartphones! We’re all guilty of it—browsing baby pictures on Facebook, searching for recipes for dinner on Pinterest, and catching up with what’s trending in the news on Twitter. We’re glued to the screen. Use this obsession to your advantage and put your business right in your customers face. Literally.
“Social media is used daily by 64 percent of US adults (on the PC) according to Nielsen. However mobile devices are driving growth, with 47 percent of smartphone owners using social media daily.”
3. Attract Prospective Clients
One amazing aspect of marketing on Social Media channels is the ability to target the types of people who view your advertisements & creative content. For example, if you own a doughnut shop in Portland, you are going to target males & females 18-65 who live in the Portland area. Also, your ad will focus on people whose interests are doughnuts, coffee, tea, as well as people who “like” other local doughnut shops (Starbucks, Krispy Kreme & Dunkin' Donuts). By targeting customers, your business is more likely to reach future clients who are genuinely interested in what you’re selling.
Targeted ads are the best way to get the most bang for your buck in the current market. Newspapers, radio ads & TV commercials all target no one & everyone and there is zero way of tracking how many people saw and acted on your ad. With social, you can do all of this and more.
4. Discover New Ways To Improve Services or Product
Business owners know that “Money is King.” Wise business owners know that customer service is Queen. Social Media has revolutionized the customer service industry. It’s the go-to place for people who have questions or problems about any product, brand or service. Be aware of what people are saying about you in the social space, so you can respond & resolve any issues that may (and will) come up before your customer leaves you for your competition.
5. Build a Community of Support
Word of mouth is awesome, but actually building a list of valued clients who genuinely believe in your brand, product or business, that’s even better. When you publically put yourself out there it can be nerve wracking. You may think things like, “Will they ‘like’ me?” & “Is this a good investment of my time & money?” The answers to these questions are most definitely yes.
If you start with a solid social media strategy and are willing to take chances, you really can’t go wrong. Always keep in mind that you’re sharing valuable content for your customers. It’s not about you; make it all about them. When the time comes for you to offer your services, people will be more likely to invest in you & your business.