In a world of Goliaths, Davids usually have a hard time.
Small Enterprises often find themselves highly overshadowed by larger, more prominent brands because of their massive advertising budgets.
However, social media marketing has emerged as a game-changing tool and has leveled the playing field. Small businesses, using social media, can carve out a unique space in the market.
We look at a few ways small businesses can stand up to the giants through social media marketing.
Focus on Authentic Engagement
Big corporations can spend millions in carpet bomb content all around the internet to get maximum viewership or eyeballs. This does not necessarily translate into relationship building or sales.
For smaller players, it’s far better to build meaningful relationships with customers. They can establish a loyal customer base. Engaging with customers through quick responses, personalized messages, and campaigns by content creators.
User Generated Content(UGC) is now a trusted source of information for millions. Gen Z does not listen to giant advertisements or influencer content but trusts authentic user-generated content.
For instance, a local bakery can use Instagram to share how a cake is made inside its kitchen, demonstrating how much care is taken to create it. It can showcase customer experiences and respond to comments promptly. The chefs who make the cakes can share their stories, too, showing how much they love baking cakes.
This personal touch and showcasing of the human side of things, as well as feeling a connection to the business, is bound to result in good word-of-mouth. It also means repeat business due to brand recall if the content is genuine.
Small Groups and Communities
Social media is not just about Instagram. Some countless communities and groups are not too big to be spotted by large corporations. Small Businesses can take advantage of these platforms by becoming active participants in these ‘mom and pop’ communities. They can engage in conversations and share relevant content to get noticed without relying on expensive paid advertising.
Online, big organizations collaborate with influencers who have millions of followers, and they pay them astronomical amounts. Micro-influencers, who have 1,000 to 50,000 followers, often have higher engagement rates and strong influence in niche communities. Collaborating with them to review products, host giveaways, or just create user-generated content is a cost-effective strategy.
For example, an imaging startup with a shoestring budget could have a ‘Photo of the Week’ contest where customers can share their best-edited content for a chance to win a premium subscription for a month. This gets some buzz, and more people are talking about the imaging company on social media. More signups and subscriptions start to happen due to the contest, which also translates to more engagement.
Partner with a Social Media Marketing Agency
Small businesses usually manage social media in-house, but a better way to compete with more prominent brands is to hire a social media marketing agency. These agencies create tailored strategies that provide maximum ROI on every dollar spent on marketing. It is perfect for bootstrapped businesses that are working hard to compete with larger companies that have thousands of dollars in marketing budgets.
For example, a small tech startup could take the help of a social media marketing agency to analyze the performance of its recent social media posts. After determining which topics and posts generated the most engagement, the business could deploy more posts about that topic, meeting customer interests faster.
Have Active Online Presence Through a Website
Social media marketing provides the reach but cannot do much to convert visitors into buying customers without a website.
The primary aim of social media marketing is to get potential customers to the website so that they can be converted. Any social media marketing campaign needs a sales funnel to be effective. The sales funnel directs the customers to the website where they can learn more details and make a purchase.
Almost 50 percent of marketers say improving their sales funnel is a top priority.
A website that is fast and responsive, updated regularly, and easy to navigate is necessary for any small business to thrive among large companies. This directly results in more sales.
As WBC Designs notes, big companies have social media accounts on Facebook, which, surprisingly, do not give a good impression of what the company is about. Having a unique website with all your product or service details is essential for revenue.
David Vs. Goliath
Small businesses may not have the same resources as larger players, but the market is massive. The internet has leveled the playing field, and small companies can thrive by embracing the power of social media.
The power of micro-influencers, social media marketing agencies, and user-generated content can provide the boost that a small company needs.
Social media is indeed a powerful equalizer.