With the proliferation of social media across all walks of life, businesses are beginning to realize the need to use social medial platforms to turn around their businesses. Statistics indicate the use of social media will continue to rise exponentially over the next years, and that businesses stand to benefit in innumerable ways.
Businesses can use social media platforms to increase their visibility on the internet and drive traffic to their shops. This article will explore how small businesses have shifted to social media and how they stand to benefit.
How Small businesses Are Turning To Small Business Social Media
The costs of running businesses have increased, and businesses are beginning to downsize their costs. However, even as they continue to find ways of cutting down costs, small businesses have tended to squeeze their budgets to invest in social media. Recent research suggests that over 50% of small businesses increased their expenditures on social media marketing in the past five years. Compared to other types of marketing, these surveys show that the percentage increase in the amount invested in social media has exceeded traditional marketing by about 30% and this figure is poised to rise considerably over the coming years. Separate surveys suggest that 26% of all small businesses surveyed invested more in social media than traditional advertising.
The amount of time by small business owners has shifted considerably. Today, many businesses are allocating more of their time toward small business social media than they did in the previous years. About 56% of businesses are reported to have spent about 15 hours every day on social platforms. Because of increased returns on social media, businesses have realized the need to boost their expenditure on social media. Surveys indicate that about 39% of small size businesses realized more than $2,000 from social media platforms.
Small Business Social Media Helps Build Online Presence:
Spreading information about your business is now easier and effective through social media than using traditional media such as fliers and brochures. Unlike traditional marketing and advertising, social media is the least expensive form of advertising that a business can ever have. With the global acceptance of the internet, business can access a dynamic market using social media to attract prospective buyers. When properly executed, social media platforms can transform internet traffic into sales. Since social media is a conglomerate of many people forming a network, it can be the best medium of promoting small business over a wide area.
Small Business Social Media Monitors Customer Feedback
If a business has a facebook fanpage, it can track what people are saying about your products. This can help a business to understand people’s needs. You can also know where your strong segment is located, which can help you develop distribution strategies to achieve high sales.
Understand Strong Market Segments:
Besides understanding issues raised by your customers regarding products, small business social media can help a business to identify what each segment of the market wants. This can help a small business to review its product and service strategies.
I've been in the digital marketing space since 2008. I work mainly in the B2B, and B2C niches. I leverage direct response marketing to generate more traffic, leads, and sales. When I'm not working I enjoy hiking, beaches, yoga, and crossfit with great friends.