Worldwide internet access has reshaped how we interact with one another. In present times, we are more connected than ever, and social media has been the most significant contributor. According to Statista, a German research and analysis provider, the number of monthly social media users will reach about 3.02 billion by 2021. As people realize social media platforms are powerful marketing tools, their use has branched out into the business world.
To use social media successfully, however, you must discern which platforms will benefit your company the most. It’s equally important to know how to strategically use social media to get the most profitability without the frustrations, high costs and complexity that tend to come with growing a business.
Growing Your Business: Non-Strategic Expansion
As a business owner, you’ve probably considered using social media to grow your business. Before you set out to take on that endeavor, it’s crucial you take the time to learn the difference between growing and scaling your business.
Growing your business may have a positive connotation, but this approach tends to be vague, expensive or outdated. Often, it leads to more complex work without increased revenue. That’s because it’s a non-strategic approach that either yields so much work you don’t get to enjoy the benefits of your growing business, or the costs of expansion are so high they consume your revenue — so you don’t make more money despite all the growth.
Scaling your business, on the other hand, is a strategic approach within a sustainable framework that implements rapid growth strategies to improve productivity and increase profitability.
While the end goal is to set up a framework that will let you increase your income without everyday involvement, setting up the proper system to work in your favor will take time and dedication. But once you scale your business the right way, you’ll use tools such as social media to increase revenue without the extra legwork.
5 Social Media Strategy Tips
Building brand awareness nowadays means you must build a robust online presence. Most of the success of your business hinges on how you approach your customers and your ability to provide them with innovative and engaging content.
In other words, your marketing must transition to the internet. And one of the best ways to do so is through social media platforms.
Knowing how to implement strategies to promote proportional expansion and raise revenue is crucial. Here are five ways to strategically expand your business with social media:
- Leverage other people’s time and money to run the business smoothly. For example, find influencers who can promote your brand by wearing your merchandise or mentioning your business in their content. You’ll not only expand your network; you’ll also have a validating voice vouching for your business. Use financial sources to fund an expansion project or campaign. You’ll have quick access to the capital you need to improve your business.
- Choose the proper social media platform. Start by determining the nature of your business. Do you reach out to other companies, or do you market to customers? Answering this question lets you decide between more socially inclined platforms, such as Facebook or Instagram, and more professional platforms, such as LinkedIn. Knowing the demographics of your customers will also help you narrow down which social media platform is the best way to reach your leads.
- Establish authority in your social media platform through brand awareness. You will reach out to more prospects and get to know the content they are looking for and the needs they may have. A strong online presence allows you to build new business relationships and partnerships, as well as drive more traffic to your website.
- Connect with your customers. In a world where virtual reality and artificial intelligence are growing exponentially, there’s nothing more satisfying for customers than knowing they aren’t dealing with robots on the other side of their screens. Stay current with your customers by letting them know they are a vital component of your small business. Engage your customers through an Instagram story, share your appreciation for your clients in a tweet, promote a discount on your merchandise on Facebook, and invite them to interact with you in the comments or direct messages.
- Build customer loyalty. Making that prospect-to-customer leap is only the first step. Your end goal should be to keep your customers coming back. Social media platforms create the opportunity to improve your customer service by engaging with them at a more personal level. Keeping your customers happy will keep your business thriving.
Dedicate time and effort into building a presence in the social media platform you choose. Don’t be afraid to be visual and innovative when establishing your online presence and connecting with your customers. While it does take time to set up a strategic framework to scale your business, the result will be a prospering business and loyal, happy customers.
The best part is you don’t have to do this on your own — you can work with a digital marketing business. You’ll be able to delegate this aspect of expansion to a trusted professional who will take your business to the next level by improving productivity and increasing profitability.