Why Social Media Marketing Is Necessary for Small Scale Businesses
Since the dawn of the internet, the world of business has seen a complete revolution on how things are done. Businesses that are not fully aware of the power of social media are leaving a massive amount of money on the table for others to get ahead.
The strategies that were thought to be an instant success in the past, like door-to-door selling or telemarketing, etc. are not producing exceptional results anymore. While strategies, like personalized marketing, that were considered as virtually impossible are fast becoming possible and need of the hour.
More than the internet, in general, the arrival of social media has transformed the way we interact, make new acquaintances, purchase and consume things. The businesses that are not fully aware of the power of social media marketing (SMM) are leaving a massive amount of money on the table for others to have a go. This statement applies to all sorts of businesses, irrespective of their size, but especially for the small scale businesses. It’s no joke, small-size businesses have even more to gain from SMM than the large organizations. This article explains how!
The Most Cost-Effective Promotion Strategy
Social Media Marketing is the most cost-effective strategy for promoting your business, full stop. Unlike traditional promotional strategies, like for instance, outdoor billboard advertising, electronic or print media advertising, the cost of advertising on social media is negligible. As if that was not enough, the results of the SMM campaign can be precisely measured to the very cent. You can’t ask every walk-in customer if they came after seeing your billboard ad, can you? On the other hand, social media campaigning can give you an in-depth analysis of your ROI, helping you in enhancing your future campaign strategy.
A Level Playing Field
No doubt, large multinationals have seemingly unlimited resources at their disposal. They can pour millions and billions into their promotional campaigns. They can invest not only on social media marketing but also can augment their campaign with traditional and non-traditional forms of marketing, like Coca-Cola with its Coke Studio Initiative. However, small scale business can also use social media to create promotional campaigns with a personal touch. SMM has made it possible for even the smallest companies to use its power to compete with industry giants at-least in specific niche markets. The size of SMM pie is so gigantic, that it is enough for almost everyone to have a piece of the pie; and it keeps on expanding as time passes on.
Newsjacking! A Great New Tool for Creating Brand Awareness
Social media marketing can be a great tool for generating brand awareness in a matter of days if used strategically. If one can create an interesting enough campaign strategy that has the potential of quickly catching on and become viral on social media through shares and likes, the campaigns are often picked up by the mainstream media for their popularity, hence creating awareness for the brand free of cost. This strategy has become known as Newsjacking. It became a trend in SMM after Oreo used a half-hour power outage during the Super Bowl event in 2018 to tweet an interesting message that generated thousands of retweets and favorites.