For small businesses, participating in a social network lets them establishing their own brand presence by creating a profile, engaging with customers and posting content and campaigns with the hope that it will be widely shared amongst prospective customers, which can rapidly and greatly increase brand awareness.
Social media is a very powerful platform that can help you grow, but it can equally damage your brand if done in the wrong way. For most small businesses and solopreneurs, social media can be a waste of time. Financial and human resources are important assets and should be used wisely.
Businesses can directly message customers about comments or complaints, hold contests and giveaways, and cultivate their image by posting engaging content. As customers look for products and businesses to patronize, one of their first interactions with a business may very well be on social media.
So let me make this claim: social media is not a waste of time, because it’s a mechanism by which we engage in social behavior. … As John Donne famously noted: “No man is an island.” We’re all connected to each other and depend upon each other, and social media is yet another way to express that connection.
In reality, though, social media is often a waste of time and money. … Any of the following can make social media a waste of time and money. You don’t have enough potential customers following you. Unless you’ve invested time and money to build a following, it’s likely that few people are seeing or reading what you post.
The 8 Best Social Media Platforms to Market Your Business in 2021 [Infographic]
Here are five benefits of using social media:
- Build relationships. Social media is not just about brands connecting with their customers. …
- Share your expertise. Social media gives you an opportunity to talk about what you know and what you want to be known for. …
- Increase your visibility. …
- Educate yourself. …
- Connect anytime.
Why do small businesses fail?
The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.