Are you a business owner looking to make the most of this thing called Social Media for your business? You are not alone. People at all levels, from the solopreneur to large corporate entities are scrambling to get ahead of the curve. Some brands have a good strategy, while others still struggle to find their voice in such a crowded space.
Business Uses for Social Media
There are basically 3 different ways businesses use Social Media today.
- Marketing to prospective Customers
- Marketing to Existing Customers / Customer Service
- Team Building and Collaboration
This will be a 3 part series of blog posts, each focusing on one of the 3 areas above. Later we will examine some case studies of brands who excel in each areas, and we may look into a few brands who did not do so well (names of the less than stellar performers will be withheld to avoid any legal entanglements).
Marketing to Prospective Customers
This is the aspect of Social Media Marketing business owners are most familiar with. We all want new customers. Almost every person out there, who has some sort of system for marketing on social media, focuses on this area. New customer acquisition is the #1 reason businesses use Social Media. The more you can get your message in front of your prospects, the more likely they are to remember you when it comes time to make a purchase.
Strategies for marketing to prospective customers vary widely depending on what network you prefer and where you are getting your information. Some networks, like Facebook, have significantly diminished the ability to grow an audience organically. There are, of course, ways to grow organically, but they are much more time consuming. If you are in business, then your best bet is to cough up a few bucks and get the ball rolling. Just be glad you can reach a targeted audience for a few dollars today. It wasn’t long ago that the cheap form of advertising was a 10 grand ad in a print magazine.
New Customer acquisition is one of the most costly aspects of marketing any business. The only more costly marketing strategy is maintaining a broad based brand awareness campaign. This is what big brands do to keep their name in front of you in hopes you will choose them the next time you are making a purchase. Coke, Doritos, Budweiser and the like are well known for this. If your company is spending the big bucks on a Super Bowl ad, you aren’t tracking conversions directly from that ad. That is a much more long term strategy, and one that most small businesses will never need to bother with, in my opinion.
This will be a regular topic at MuchSocial.com. In addition to the training programs offered, we will be discussing various methods for marketing on Social Media, as well as the other ways we use Social Media for Business.In addition to the blog posts and trainings, a new podcast is scheduled to start in the spring of 2015, so keep a watch out for that as well.
I am very much looking forward to our time together.