For most small businesses out there today, advertisement is the key to success. But with costly television and newspaper ads, small businesses struggle to get their name out while attempting to make a profit. That’s where social media comes in. It’s actually easier nowadays for a small business to be successful due to the available avenues of social media and the interconnectedness (big word) of the Internet. Advertisement, gossip and knowledge spread faster via optic cable than putting up signs around neighborhood.
This small social media advertising can be seen to help with a key factor in increased sales for most companies. Don’t know what it is? Hint: When you want to buy new sneakers, or running shorts, you think ‘sports store’ and when you think sports store you think ‘Sports Authority, Dick’s Sporting Goods, etc.’. How can a small business, say an ice cream shop, compete with Coldstone or Ben&Jerry’s when the consumer thinks ‘I want ice cream’. Brand Recognition.
Small businesses can even adopt the big-business idea of subsidizing product adoption. For example, your ice cream shop from the previous example opens in the financial district of a big city. How can one attract the busy ants coming or going from work? Simple Subsidies: Your offer: 10% off a small ice cream with proof of a tweet or post mentioning your product and where they bought it. Harnessing the power of social media, small businesses can compete with the chain name brands. It’s like crowdsourcing advertising (its free!).
Don’t take my word for it though, especially because I am not the first person to come up with the idea. Check out Forbes’s 7 ways to harness the power of social media:
If you still don’t believe in the effectiveness of social media, you must live under a rock Marathon Monday in Boston yesterday (4/15/13) should have converted you. The power of being able to connect and contact the masses allowed for a more controlled situation and the alleviation of widespread panic.
*As an endnote, thoughts and prayers with the victims and their families.