Over recent years, we have been bombarded by a barrage of hype about Social Media and how a business owner MUST get involved to succeed. Today, Facebook and Twitter dominate Social Media, along with several business-specific platforms, such as LinkedIn. The first question you must ask yourself is, “Do I have to play, and if so, how will it benefit my business?”
The marketing gurus first told us that we MUST have a website and that we MUST expand our horizon to reach the global market. Over the years, it has become crystal clear that these gurus were a slight bit off, and that as a small business owner, you must first focus your strategy on your local market.
Social Media has followed this trend and was viewed as a way to create fans and connections around the world. Recently, this trend has changed for small business owners, and Social Media is now being used in an attempt to gain fans within their local marketplace. The second question you must ask yourself is, “Can Social Media work for me and how can I make a profit through this strategy?”
Here are some key questions you should address before you decide to focus your marketing strategy through Social Media.
- Who are my target audience and will Social Media help me reach them effectively?
- Why do I want to create a large fan base through Social Media – increase sales to current customers, attract new customers, specials, information, entertainment, etc?
- How can I monetize my Social Media strategy, i.e., how can I make money using Social Media?
- How can I avoid simply offering discounts (hence, lower profits) to a finite fan base?
- How can I publicize and grow my Social Media platform?
Be very careful with Social Media “experts” and check them out before you decide to hire outside help. Anyone can claim to be an expert, but only a few truly are.
In the end, you may decide that Social Media can be a great way of attracting new customers or perhaps that it’s just another way you can get more exposure for your business. Whatever you decide, you must be sure to create a strategy and budget, and assess your preliminary results before you decide to go “all in” with Social Media.
If you would like assistance promoting and growing your business, feel free to contact me. Additionally, feel free to submit questions about growing your business and I will address them in future columns.
Don Kyle is the CEO and Founder of Small Bizz MBA, a company which assists businesses with their marketing, branding and advertising needs. (404) 580-6331, dkyle@smallbizzmba.com
