Benefits of social media for your business
of Aaron Andenmatten – 7.02.2022
Social media for small businesses pays off. These practical tips will make it easier for you to get started, even as a small business owner.
Social media marketing - Opportunities and risks
Social media marketing is on everyone's lips, or rather on all displays. For large companies, advertising on social networks has long been standard and they can use it to build a solid community. However, many smaller and medium-sized companies still refrain from using this powerful tool to get closer to the target group. Social networks offer the advantage that companies get direct feedback back, but precisely therein also lies a certain risk, because the profiles in the networks must be maintained by the companies.
What does advertising on social networks mean?
In social media marketing, the focus is specifically on social networks. Other digital channels can be integrated, but the primary focus is only on interaction in social networks. The goal is to promote the customer with the help of various strategies. One common method is viral marketing, in which interesting posts are designed that may not even have anything directly to do with a product or company, but which are frequently shared, for example, due to their creative design. The spreading also increases the level of awareness of a company and a larger customer base can be addressed. Another method is to provide customers with current information on an ongoing basis. This can be, for example, innovations in the company, but also exclusive offers, for followers in social networks.
One of the two biggest advantages of social media marketing is that businesses can significantly increase their awareness and reach within a short period of time. Above all, businesses such as hotels benefit from this. But businesses that operate locally can also address a significantly larger target group in their immediate vicinity.
Another advantage of social networks is that the company gets closer to the customer. It can be presented in an uncomplicated way what a business stands for. A meaningful photo from everyday work and a few words about it often say more than an elaborate article in a newspaper or a commercial clip. What is now important for many companies is that not only potential customers are addressed, with social media marketing it is also easier to get qualified workers on board. Especially industries struggling with a shortage of skilled workers benefit from job seekers going viral on social networks.
A plus for both sides is direct communication. Users can respond to posts or send messages directly to companies on social networks. What has been shown in the past is that the reactions in the networks are often more honest than, for example, the feedback that comes back in surveys.
Also a strength of social media marketing is that a company or product can be recommended directly through the networks. Sharing a page is like a personal recommendation from a user, which in turn is evaluated positively by those users who are connected to the profile. In many cases, therefore, cooperation with influencers is sought directly. They have the advantage that they have a large fan base and can thus reach significantly more users with posts about a product or service. Smaller companies can increase their awareness enormously by investing in just one post by well-known influencers.
What are the costs of advertising on social networks?
How high the costs turn out to be is determined by each company itself. Registration with social networks is free almost everywhere. It is important that companies also select suitable networks for their industry. However, each company can decide for itself how much money to invest. Campaigns can also be launched with the company's own resources, but are usually more successful if they are professionally organized.
How quickly do effects occur with advertising on social networks?
Effects can occur even hours after the start of a campaign, for example, when it goes viral. The advantage of social networks is that news spreads within a short time and the fan community of one's own offer can grow accordingly quickly. Those who then use the right methods to sustain customer loyalty and also improve the reputation of their own company will quickly benefit from the first sales.
The advantage is that not only users stay up to date, but companies also get direct feedback on what is currently on customers' minds. Regardless of whether it's about current food trends or the latest fitness equipment that's in demand at the gym, social networks also break down inhibitions about contacting a company directly and expressing their wishes.