Startups are usually started by a small group of individuals wanting to launch a new idea. These can be either a new kind of offering. Or it may be an improvised version of something already in commerce.
Since these enterprises are in the initial part of the business cycle they need marketing. Making the audience aware of their brand and increase sales is the goal here.
There are various methods of advertising available. The catch here is that startups do not have the financial freedom for expensive marketing (in most cases). A solution for them could be a budget-friendly social media marketing strategy.
Even though most brands can be noticed to have a social media presence, only 59% of marketers are actively using it for their business growth. The reason for this is that there are many benefits of social marketing that are overlooked.
Advantages of social media that startups fail to see…
1. Updates on the latest Industry trends
In this age of digitalization, every smartphone owner is present on at least one social media platform. Note – almost everyone has a smartphone. People do interact with their favourite celebrities as well as brands on social channels.
People’s demands, complaints, queries, and interests can be easily identified with the digital boon of Facebook, Instagram, Twitter, and similar platforms. You can use tools available online to keep a track of what your audience prefers.
This process is called social listening.
Moreover, you can also know the customer’s interactions with other companies. And the real-time conversations between users through the comments. By social listening, you can choose the perfect platform for marketing your business.
The recent updates in your industry can also be known. Giving you ideas to either develop new products or make improvements in the older ones.
2. Beat the competition
Through competitive analysis, you can keep an eye on your rivals. New opportunities can be discovered to delight the consumers where your competitors could not reach.
Find new ways to create unique content. By thinking of new approaches to engage customers you can gain an upper hand in the market.
Besides, you can track which of your own posts are getting the most appreciation. You can use the same strategy that you used in those high-engagement posts. And eventually, you can flourish in the crowd of competitors.
3. Keep customers happy
When customers face some issues, they want to approach you. Lengthy emails, uncomfortable phone calls or visiting the office are less preferable by most. Which is why a lot avoid giving feedback.
That was before the internet. Times have changed and people are using social media to get their problems resolved. According to a 2018 survey by Sprout Social, 45% of the market has reached out to companies through social handles.
Unlike the previous customer service options, social media service is direct, easy and time-saving. Let the customers know you care and that you would do your best to help.
It is the best chance for you to solve their issues.
You can even ask the audience to give feedback. Know their favourites, their complaints, and build a connection with the users. Essentially, keep your clients and prospects happy.
4. Get User-Generated Content
Happy customers will vouch for your company. Good reviews will get you more buyers. Engagement and conversion rates are amplified by testimonials, customer photos, success stories, and other user-generated content.
You can encourage your customers to share their photos with your branded tags. Hashtags can be a great option. With the buyers’ consent, you can share their photos on your pages. Image with a human face will get you more likes and comments.
Moreover, when real people give you praise, it generates trust and shows reliability. It will provide your brand with more authenticity.
5. Stand out in the market
When a person is looking for sites to buy something, he will definitely do his research. Social media is an important resource to get feedback on most of the commerces. People often visit a company’s Facebook page before approaching them.
Not only customers but also when searching for a job, people would look at the employer company’s Facebook, Instagram or LinkedIn page to get a realistic and behind the scene insight.
This is why it is essential to maintain a good presence on at least one social channel. You do not need to be the Jack of all trades, but ace any one site that is most suitable for your business. For a luxury clothing brand, Instagram would be more suitable because it has more visual content. Whereas LinkedIn would be apt for a Financial Advisor as it has more of textual data.
Social media will be the first impression of your brand. So, keep an active presence on at least one channel that your target audience is using.
6. Rank better on Search Engines
By a study of Statista, it was evident that social media engagement and search engine rank of the company’s website go hand-in-hand.
When a post gets thousands of likes or comments, people will visit your online store. Driving more traffic to your website. You can study the time when your target audience is most active and which site is frequently visited by them. Tools like HubSpot and SproutSocial can be used for this purpose.
With social scheduling, you can enhance your social engagement, website rank and eventually get more footfalls in your store or office.
7. Engage young buyers
Generation Z’s are the most active users of social media and the biggest spenders. The population born after the mid-1990 have crossed the spending budget of the Millenials.
This Gen Z population prefers to spend a good amount of time on social channels. Which is why enterprises must be ready to make changes in their marketing. Switching to digital and getting rid of traditional marketing can be a boon here (If the target is mostly Gen Z).
The young adults respond better to advertising on social networks.
Adopting social media can be a cost-effective approach for intensifying your startup’s recognition in the market. Not only getting a good rank on the website but also you can get loyal customers.
As much as the social media benefits startups, long-established industries can use it to their advantage too.
Do not miss the opportunity of letting social media take your business a step ahead. These benefits have been overlooked by many and need to be taken into consideration.
Social media has more power than you can imagine.
Krunal Soni is the founder and CEO of Thrillax Private Limited, a digital marketing company. He holds expertise in diverse fields. His 15+ year spree in this field has earned him clients, and their faith in his tactics. His intelligent strategies have put Thrillax among the leaders of Digital Marketing as per the Clutch report of 2019. A systematic approach, transparent processes and friendly mentoring have allowed him to prioritize and manage a work-life balance.