How Social Media Can Change the Game for a New Business
To become a successful entrepreneur, the new business owner must find ways to reach customers. Social media can make that job easier.
The rise of social media as a marketing tool has had a major impact on businesses, particularly startups. Studies have shown that more people follow brands on social media than follow celebrities.
But while social media marketing can put a new business on the map, missteps can be made that are costly to the bottom line (and one’s reputation), says Deni Sciano, an entrepreneur who founded Score! Designs, a women-owned designer handbag company based in San Antonio, Texas.
“There’s good and bad social media marketing,” says Sciano. “As an entrepreneur, few of us are good at it. We can play around with it and learn about it or throw a little money at it here and there.
“Now that social media marketing is such a big business, you really have to find the right marketing company that fits you. Either way, through a company that focuses on it or doing your social media marketing in-house, it’s imperative to learn what to do, and what not to do, if you want social media to be an effective tool to attract and retain customers.”
Sciano suggests five ways to make social media work for your new business:
Know who and where your customers are. “Adopting social media tools must be a well-planned and researched step,” Sciano says. “It starts with determining who your target audience is—who would have a need for your product?—and their demographics. Then it’s vital to find out which platforms your potential customers are on before devising an appropriate strategy for each.”
Know what your message is. “This has to be specific,” Sciano says. “You need various angles in order to pull them into core message. There’s too much clutter and competition out there in social media for you to be general and bland about your product’s value. If you want to build more customers, you need to give them what they want and message it in a way they can relate to.”
Set goals on customer engagement. “The whole idea is creating curiosity in your product,” Sciano says. “How many responses should you expect in the early weeks, the third month, and so on? Is your message working or does it require tweaking? Setting a goal for number of responses is a metric you need to have.”
Find the right marketing company. Social media marketing can be of utmost importance to entrepreneurs who do it themselves because they don’t have the large marketing budgets that more established companies have. But Sciano says those entrepreneurs who do hire social media marketing companies shouldn’t get aligned with a firm that has too many accounts to spend significant time with them. “Finding the right marketing team is easier said than done,” Sciano says. “They need to understand you and your message completely. They need to see your passion for the business and you must see their passion for getting your message out there effectively. The right marketing company becomes an integral member of your team, not just a vendor.
Learn from failure. “This is often the best teacher,” Sciano says. “I fail every day but my company has come a long, long way. From losses come victories, creative solutions, more curiosity, and optimism. All of that drives you and your company forward on various social media platforms.”
“Social media is a great way to create a buzz about your business,” Sciano says. “But it takes time, patience, flexibility, and perseverance. And for many entrepreneurs, it’s become a daily part of their business model that they can’t do without.”
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