A large section of the consumers across the world are now on various social media platforms such as Facebook, Instagram, Twitter, WhatsApp, YouTube, LinkedIn, Pinterest, Quora, Reddit, etc. Furthermore, the average person spends at least two hours on social media every day. Hence, social media is one of the easiest and cost-effective ways for small businesses to keep in touch with their customers and also to update them about their products and services. In the meantime, e-commerce sales have been increasing significantly and rapidly during the last few years.
Given the above facts, social media presence is essential for the SMEs. Business owners and their employees can also use social media extensively to grab consumers’ attention, interact with them, promote their products, and respond to customer queries. Entrepreneurs can also depend on social media to create brand awareness, drive sales and ensure prompt customer service. By creating visually appealing content, SME owners can also use their social media presence to drive visitors to their website or blog and strive to transform them into loyal customers.
As an entrepreneur, you can even use social media for competitor research, which will help you learn from your more successful competitors. By continually observing and analyzing their mistakes as well as their successful moves and achievements, you can understand their plans and winning strategies. Then you can appropriately tweak those strategies and adopt them as your own. For instance, you may come to know that an impactful and cost-effective way to generate sales is to offer discounts and organize giveaways and contests. It will boost awareness about your product or service in the market, increase the engagement rate with potential customers and push up the company turnover.
Thus, a strong social media presence and an appropriate social media marketing strategy coupled with the steps outlined above will help SMEs consistently grow their business over a period of time.