How to Expand your Business Marketplaces Using Social Media in 2019

A few years ago, businesses had no idea about social media. Today, social media platforms have become one of the largest assets for businesses both big and small from all over the globe. It has been said that over 3 billion people are connected on the internet and more than 2 billion are on social media platforms. Even though most social media platforms were created to help human beings connect together, they have become the biggest marketing machines on the planet. Harnessing the power of social media is the ultimate goal for you to expand your business marketplaces and improve the brand. Annual US spending on social media marketing has been expected to surpass the $20 billion by 2020. This means that more businesses have seen that indeed, social media can be useful for business. For a business to realize its full potential using social media, it needs to do a couple of things. They are:

Promotions

Promotions on social media can be a powerful too. They are used by businesses to reach out to new and returning clients to let them know what the business has in store for them. A business can then use social media as an outlet for sales, deals and the like. Offering these deals exclusively through various platforms not only drives traffic to the page thus increasing the online presence. These deals create buzz around your brand and products which can easily be converted into leads for return clients too.

Consistency

When it comes to marketing online, consistency is one of the essential virtues any business should have. Consistency must be maintained whether it’s on your posts, the frequency of using the platform or even your messages. When dealing with social media campaigns, making a plan and continuously following through on it will make sure that your presence grows and your followers too. When you are dealing with growing your business marketplaces on social media, you can’t move from posting a few times a day to posting once per month and back. Your customers won’t be impressed, and engagements will be at an all-time low.

Identify the right channels

Not all customers are similar. Different demographics of people prefer specific social media platforms to others. This means that identifying the correct channels to use can be a crucial aspect of creating a two-way conversation. It’s crucial to note that even if you want to expand your brand and business, being on every social network isn’t required. This is where research comes in handy. The business should identify where most of their target clients are and what it is they talk about you most. You can then use this information to manage campaigns and direct resources to where they are needed. You don’t need to be on all the social networks. It’s better to find three that work for you and master them than be inconsistent in six.

Engagement

Communicating with customers has always been a priority for many businesses. Given that serving the customers is what generates income for businesses, engaging them should be a priority. Companies have discovered that social media can be used as an effective customer service tool. As such, they are using the platforms to get access to their customers and gain valuable insight from them. Platforms like Facebook and Twitter are now quite famous for being the first place you go to when you want to win an audience for a particular brand. A company should then make sure that it engages its customers as much as possible if it’s to grow its business marketplaces. This is by answering their queries and also taking their feedback as seriously as possible. When the brand communicates clearly with the clients, it increases its trustworthiness meaning clients can purchase products with peace of mind.

Always be on message

Building a formidable presence on social media isn’t all about the likes, and the follows – even though they are great. However, there must be something more powerful behind it. This is the message your content on social media has. Content is king in many instances. Unlike the way you would post content on a company blog, posting on social media has a different set of rules. Attention spans of people scrolling through dozens of feeds on their social media pages is small. Therefore, your aim should be to capture the attention of the audience as fast as possible and retain it for a longer time. To do this, the posts should not only be creative but also always on point. This makes it easier on the audience and also easier to skim through posts.

Always be on message

As previously stated, social media is the mother of all marketing engines. Given the reach it has, a business can benefit a whole lot. Advertising on social media is simple, straightforward, cost-efficient and most of all, measurable. Unlike advertising with other methods, with social media, you can fine-tune your ad so that it only reaches the intended targets. You can choose to filter who sees the advertisement via different criteria such as age, gender, their likes, geographical locations and so much more. This way, you ensure only the right audience is reached. On social media platforms, you can also see how a particular ad is doing and decide whether to stop or boost it.

Monitoring the competition

Every business wants to stay ahead of the curve against the competition. Every business aims to be the best at what they do. This might mean having to take clients away from the competition and bringing them into your fold. Social media is great because it’s an open platform. You can monitor what the competition is doing and also learn a few things from them. As a brand that is starting on the social media front, you can analyses the brands doing well and see what works for them. You can then use this information to formulate your plan, customized for your business. You can also use the competition’s social media mistakes to learn from them and ensure that you don’t repeat those mistakes yourself.

Conclusion

Once properly mastered, social media can be a huge driving force in your businesses. There are businesses that sell strictly on social media platforms without a physical store and do well. Getting to understand how social media can impact your business opens up new doors and more opportunity for a business to not only establish itself but to thrive. With this knowledge, you can grow your business marketplaces into bigger and better revenues of income.

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