How Social Media Can Help Your Small Business

Small businesses are privately owned enterprises, partnerships, or singular proprietorships that have much less total revenue and employee count than a large corporation or other business. Small businesses can be solo operators, or they can be owned by a partnership. Typically, a small business is owned by individuals who share in the venture. However, small businesses also may be operated by an ownership group. A sole proprietorship, for example, is run by only one owner.

Small businesses can be on their own, but many small businesses use the internet and social media as a marketing and sales tool. In fact, many small businesses consider social media a viable part of their marketing mix because of the low investment required. Additionally, social media allows small businesses to build brand recognition, develop customer loyalty, and expand market share. Below are just a few of the ways that social media marketing is beneficial to small businesses:

  • strengthens family ties. As an independent business owner, you will find that the support and encouragement from family and friends can do wonders for your business. You can create a blog, publish articles online, and connect with local businesses through message boards and podcasts. Your customers will read about your products and services and know that you are a person of value. Many small businesses find that the support of family and friends during the start up phase of a new business helps them to become more successful as the business grows.
  • Increases your market share. The average annual receipts for small businesses is around $100 million. Small businesses can increase their market share through advertising and promotion activities such as the distribution of promotional items, promotions, and trade shows. The cost of such promotional items can be very high and only a select group of employees will be able to afford them. Furthermore, employees will not be inclined to distribute poor quality promotional items to draw customers away from the quality of your products and services.
  • Increases customer loyalty. One of the best things that small business owners can do for their companies is to have loyal employees. Employees who know that they are appreciated and paid well work harder, produce greater results, and stay longer in the company because they believe in the company’s goals and mission.

Overall, small businesses need to consider how social media can help to grow their businesses. Small businesses often face tough competition from larger corporations and large international companies with well-established reputations. Small businesses need to use every tool available to attract customers, gain new customers, and retain existing customers. Social media allows small business owners to connect with customers and employees, build a strong brand image, and increase their market share. This is just a few of the ways that social media marketing is beneficial to small businesses.

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