Social media is an underrated and underutilized part of a business’ media strategy. The scope offers to raise awareness, to generate new leads and to drive traffic to your website is unmatched by most channels. At least at the cost it does. Many SME businesses unfortunately believe that social media is for B2C brands only. However, when used effectively, social media can have a lasting impact on the growth of any SME.
Here are 5 reasons why SME India should consider incorporating social media into its growth strategy:
- Helps increase brand presence
Social media is global. And your business can reach out to millions of potential customers merely by its presence on social media. Your brand gets incredible exposure and you can increase brand awareness simply by signing up to the most popular social media channels that your customers are participating in. You can engage with customers, and make your brand active and visible.
- Enhances goodwill and builds a community
When you interact directly with your customers, existing or potential, you are getting an opportunity to bond with them and create your own community. The one-to-one communication that you have with your customers builds trust and comfort, leading to a loyal base of customers who will be more than happy to recommend or promote your brand (on their own).The result of this is even more traffic to your social media pages and even more business eventually.
Even if a customer has had a bad experience, or feels dissatisfied, this social media interaction is a way to hear them out and give them a resolution. This way you can rebuild trust and confidence, and the customer feels valued.
- Opportunity for expansion
With social media, your customers can like, comment and share content from your page with their community, thus advertising your brand for free. This can help you reach out to more customers.
You can use your social media content to educate or motivate your audience and draw them to your website. As your followers, likes, comments and shares grow, so does your search ranking, which leads to even further visibility and more visitors. Are you getting an idea of how organically this will help build brand awareness and reach?
Post interesting and relevant content regularly; keep your customers engaged and coming back for more. Create a blog and connect it to your social media sites; post videos, updates and images to stay active and drive this process further.
- Might get recognition from experts
Every industry has its experts, people who have a strong following and who everyone turns to for recommendations and expert advice. If your social media presence is strong, your brand can also attract the attention of experts, and get their endorsement.
- Easy publicity
All this publicity comes to you easily and within a cost-effective budget. For a start-up, using an SME loan on creating awareness can prove to be challenging. Social media comes to your rescue, at no or very little cost. Traditional advertising and marketing methods might be more or less effective, but they are definitely a more expensive way to help your brand reach its customers. You can use your SME loan for other aspects of your business.
Social media is an excellent approach to getting the maximum exposure for the minimum expense. Make it an important part of your marketing effort. Spend time and effort into it to see the benefits. You can even hire a social media agency once you have a reasonable presence.