Forbes > Goldman Sachs & Veem partner. Learn more
Forbes > Goldman Sachs & Veem partner. Learn more
Social-Media

5 Reasons Your Business Will Benefit From Social Media

Marketing a small business can be hard. Especially with the rise of all kinds of small businesses and freelancers in the US, it can be difficult to have your voice heard. Not to mention, promoting brand awareness can be expensive for the little guys. Big corporations can afford to have TV ads and giant billboards, but small businesses don’t have that budget.

 

Some of the best tools corporations use are cheaper than you think, like social media.

 

Your small business may not have the cash that the big guys do, but if you use the right tools, it won’t matter. Some of the best tools corporations use are cheaper than you think, like social media. You’ve probably heard it a thousand times, but social media genuinely is a key marketing tool for businesses. The idea of learning a whole new “lingo” can be intimidating, but it’s well worth it.

 

Here are a few reasons why social media can improve your business.

 
 

Increased Brand Awareness

 

You don’t need to be the next greatest online expert to know that social media is popular. There’s constant activity and viewing on media sites which can only benefit your business. The more often you post the better – but not too often.

 

Make scheduled posts on Twitter that relate to your product or service. People are more likely to take an interest in your business if you’re active on social media.

 

Even just posting about things like interesting facts or holidays with a colorful graphic can keep you relevant.

 
 

Advertise, Advertise, Advertise

 

Running an ad on social media is the most cost-effective way to market yourself. If you’re launching a new product or even just starting out, you won’t break the bank. Twitter offers paid promotion for either your account, story, or just a tweet at a low price. Facebook has similar options for businesses, but like all social media sites, the price will depend on a lot of factors like target audience, ad quality, your industry, etc.

 

Running an ad on social media is the most cost-effective way to market yourself.

 

Either way, you’re likely to be paying chump change for an advertisement on most social sites.

 
 

More Feedback

 

Even the most loyal customers will avoid going onto a business site to complain or praise a product. Since they probably already use social media throughout their day, it’s a lot easier for them to drop a comment about your business.

 

Before you know it, you’ll find clients tweeting or tagging your business in posts. Whether it’s a complaint about the product or a positive review, all press is good press. The more they talke about your business, the more awareness spreads.

 

That being said, don’t ignore complaints. This is your chance to show your business cares by listening to client concerns. Don’t see a negative post as an attack, take it as someone with a desire that needs to be met.

 

This segues into our next point:

 
 

Interact With Others

 

Your social media site can double as your customer service. If someone criticizes your product on social media, ask them what the problem was. Not only does this show transparency by talking publicly, but that your business is approachable and attentive. You’ll learn how to improve your product by talking to clients directly and they won’t be quiet about praising you.

 

If someone criticizes your product on social media, ask them what the problem was. Not only does this show transparency by talking publicly, but that your business is approachable and attentive.

 

Participating in trending topics can keep you relevant to clients. If someone’s talking about a development in a field related to your business, spark a conversation. Being active and aware of current events will impress prospective clients.

 
 

Spy on The Competition

 

Your biggest competitors will be on social media trying to jump on the next hot topic just like you. Plus, they’ll be talking about their new products or discussing changes in services. This is information you won’t have if you don’t follow your competition.

 

As soon as they launch a product, listen for feedback or updates. Are customers happy with this product? Are they missing something you can do? How can you be ahead of the curve? These are all things you can easily find out.

 
 

Payments

 

When you’re not stressing about marketing your business, you’re probably worried about budgeting. Time and money are the two things businesses need to succeed. Saving a buck by advertising on Twitter is a good start, but it won’t matter if you’re paying more elsewhere.

 

Wire transfers may be a familiar way to pay, but transfer fees can quickly add up. Not to mention, you won’t be able to track a payment after it leaves your account. Nothing is worse than not knowing where your money is or when it will arrive.

 

Veem is the next-generation payments platform connecting small businesses worldwide. Because we offer competitive exchange rates, there are no fees. Our Multi-Rail technology not only looks for the most efficient way to transfer payments, but the safest way as well.


7-05

 

Sign up for a free account with Veem and join the 50,000 businesses we’ve helped go global.