The growth of small businesses has been remarkable in recent years, and that trend is expected to continue, which is wonderful news for the American economy that has been slow to rebound from the recession. What is even more impressive is the fact that notable publications are calling attention to the vast success of these fledgling entities, as they take on the corporate giants.
In a recent article in one such publication, social media marketing was the subject, and the author paid close attention to the power small businesses have found by using it. The companies that employ fewer than 500 people and have budgets that are just a mere fraction of the S&P 500 corporations are still able to enjoy vast growth and have even managed to capture some of the market from those giants. They’ve done much of that with the use of social media.
Consider the advantages that small businesses have in the social media realm:
- It is much easier to maintain a personal feel when you aren’t a corporate giant.
- The brand image can closely match the personality of the founders, making it easier to give the social profile an individuality.
- Budget is essentially taken out of the equation. A social media marketing campaign cost significantly less than a television ad campaign, which means that it is affordable for companies big and small. That leads to a leveled playing field.
There are a few things that you have to do right as a small business on social platforms, however, if you hope to take the corporate Goliath down a notch.
- Know your customer. If you don’t know exactly who you are trying to appeal to, then you will fail to maintain a consistent voice, and that can instantly ruin your efforts to create a personal feel for your social accounts.
- Do expect to spend some money. Though social media marketing is less expensive than television and newspaper, it isn’t free these days. Organic traffic is very hard to come by thanks to changes to the social feed algorithms. So, it is beneficial to promote posts and pay for a bit of pay-per-click advertising.
- Take advantage of free- and low-cost data tracking services. Some of them are included with the social platform. For instance, Facebook has a decent tracking system that will provide regular information about the traffic, interactions, likes, and more on your page. However, there are also independent services that can help you look at the bigger picture (tracking data from your website and multiple social platforms, all in one place).
- Don’t be afraid to pay for help. Social influencers are providing big boosts on social media for small businesses that are still growing their brand online. Marketing automation software is helping many small businesses personalize and target their messages to potential customers. A little investment now may well lead to huge returns later, especially if you can tap into an S&P 500’s customer base.