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What if we told you that nearly half the small businesses in America are setting themselves up to fail? You’d probably think we were nuts. Yet STL Black Biz reports that almost 50% of American small businesses have no social media presence at all, and only half of those without a social media strategy have a plan to establish one. That’s simply not a good idea.
Gartner found that the average customer is 57% of the way through the buying process by the time they reach out to a business. Unlike the old days, when customers would come to talk to you in person, by the time they’ve set foot in your store or office, they’ve already researched your company, what you offer, and your customer reviews. Much of that search is conducted on social media.
Social media is a new necessity for businesses, even small businesses. Here are 5 reasons why.
1. Fill up the search page.
Google’s official word on social media is that it doesn’t affect your website’s search ranking. While you’d be forgiven for remaining skeptical on this, it only refers to the quality of your ranking. The quantity is also important, and if your Facebook page is busy, it will show up right under your website. In fact, the more social pages you’ve established, the more listings your company will have on a Google page 1.
Not only does this directly draw customers to your pages, it also improves your credibility. Customers want to know that you’re legitimate, that you’re putting effort into your online presence. They’ll be more likely to look into your company if they know you’re investing in social media. Since social media is largely interactive, if simultaneously gives your brand an air of approachability— your audience will feel comfortable asking questions.
2. Relate to customers.
Aside from Google’s searchability, social media is all about building relationships. Even if your product isn’t something customers will buy every day, if you build familiarity with them through social media, yours will be the first name they think of when the time does come. The data backs this up. According to convinceandconvert.com, 53% of Americans who follow brands on social display a decided loyalty toward those brands. You might not convert with every post, but you will build a presence. So it’s a good idea to keep your posts light, fun, and eye-catching. Don’t worry about conveying all your information on a single social post.
3. Take advantage of the most-viewed media for the least overhead.
The average American spends 144 minutes per day on social media, which means you’re more likely to reach them with your messaging on social than anywhere else. Compare that to 102 minutes per day listening to the radio, where ads could cost your business as much as $5,000 per week. Even paid ads on Facebook or Instagram are significantly cheaper to produce and run. Social media advertising can drastically sharpen your ad budget.
4. Target your audience.
One reason traditional advertising is so expensive is because it throws such a wide net. It hits everyone. For example, the average cost of a 30-second Super Bowl spot in 2019 was $5.25 million. That’s a great deal if you’re Doritos or Ford. But your business might not be for everyone. Why waste money advertising to people who will never have reason to buy from you? You have a target market, and social media platforms will find it for you. Using locations, interests, job data, and more, they connect you directly to your target market.
5. Instantly update your audience.
If 2020 has taught us anything, it’s that we have to keep our business models fluid if we want to succeed. Offices close or reopen, hours change, new products are delayed. Social media lets you keep your customers apprised of unexpected changes quickly and effectively, whether it’s a store reopening, a new promotion, or a fun contest. And don’t forget the credibility boost. When customers see that your company info is kept up to date via social, they’ll feel more comfortable reaching out.
Social media isn’t the new TV or radio. It’s the new telephone. If you plan to run your company without it, you’re leaving business on the table. Contact ModSocial today to find out what social media can do for you.
