The 6 Most Important Questions SMEs Should be Asking when Considering their Social Media Strategy

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The 6 Most Important Questions SMEs Should be Asking when Considering their Social Media Strategy 1

Here’s what you’ll learn:

  • What is Social Media?
  • What Social Media do SMEs use?
  • How can Social Media Strategies be Improved?
  • What are the Challenges of Social Media Marketing?
Approximate reading time: 6 minutes

Social Media is constantly evolving. ​

Social Media strategy includes the understanding of how your company can benefit from using this digital platform to meet business goals by creating a presence, engaging customers, gaining insights and measuring ROI.​

Whilst it’s true that many Small and Medium-sized Enterprises (SMEs) are missing out on opportunities to use Social Media, some are still unsure of the benefits they could be receiving. Social Media marketing can help to generate leads, create brand awareness and increase sales; some of the main reasons why businesses are steadily adopting Social Media channels as part of their strategy.

However, there is still a lot of confusion regarding what exactly Social Media means for small businesses. Social Media channels have the potential to generate business results if they are used correctly and so, for this reason, we have created a list of the most important questions SMEs should be asking when considering their Social Media strategy.

1. What is Social Media?

Social Media is harnessed through online channels such as Facebook, Instagram and Twitter to communicate directly with customers and potential customers. Social Media can also be seen as a process which is working to build up relationships, increase engagement on your posts and expand brand awareness.

Social Media strategy includes the understanding of how your company can benefit from using this digital platform to meet business goals by creating a presence, engaging customers, gaining insights and measuring ROI.

2. Social Media Strategy: Why Social Media?

Social Media can be a cost effective way for SMEs to get their brand in front of an ever growing audience and monitor how they are being received. Social Media provides the perfect platform to monitor trends, keep up with daily conversations and engage in meaningful two-way dialogue with your customers. Social Media channels allow businesses to listen and respond to what is being said about their brand and industry, as well as to generate leads, create brand awareness and increase sales.

Social Media provides a way to announce new products, announce deals and promote events at the same time providing customers with an opportunity to chat with your business if they have questions or concerns. Social Media is therefore a powerful marketing tool that can be used to enhance your business relationships. Social Media platforms also provide SMEs with the opportunity to develop customer loyalty, which leads to increased sales and revenue for the business. Social Media can help businesses by providing them with an opportunity to share news quickly, build relationships and connect with like minded individuals. Social Media marketing is undoubtedly a tool that should be part of every marketing strategy.

3. What Social Media do SMEs use?

Today Social Media is primarily used for Social networking purposes where users can connect with friends who are physically located miles apart. However Social Media is not limited to Social networking only, it has diversified into Social news, Gaming, shopping and Social Media marketing.

Social networking sites are used by all types of businesses for various purposes. By setting up a Social Media business account on Facebook or Twitter SMEs can connect with their customers directly. Social Media platforms like Facebook, LinkedIn or Twitter also provide Social Media analytics that can be used to gauge the performance of Social Media campaigns. Social Media marketing is a powerful way to reach new customers and drive sales for a small business.

4. What is the Impact of Social Media on SMEs?

Social Media is an integral part of any business strategy because it has been proven that Social Media strategies deliver huge benefits for companies, including:

  • More exposure for their product or service,
  • Improved brand loyalty and image,
  • Attraction of highly skilled labour,
  • Greater market share within target markets.

5. How can Social Media Strategies be Improved?

If Social Media is already part of your company’s business process, there are a number of distinct areas that need to be focused on.

  • Promotion will always be the number one priority when Social Media is used for marketing. Social Media sites can be used to push content out faster than traditional methods, and also provide real-time feedback. Social Media is also a great way to grow your online presence, and gain more followers.
  • When Social Media accounts such as Facebook or Twitter are used for customer support, it’s important they’re monitored on a regular basis. Social Media sites can be the first place people turn when in need of customer service, so it’s important they’re monitored daily. Social Media sites also allow for quick acknowledgement of customer issues, which can reduce the number of complaints that are received through traditional channels, such as phone or email.

6. What are the Challenges of Social Media Marketing?

Many SMEs are still not using Social Media as part of their overall marketing strategy, which leaves their Social Media accounts dormant, and unable to provide any value. Social Media is like a press release; there needs to be fresh content posted on Social Media sites regularly, or they'll go stale. Another challenge of Social Media marketing is that quality, rather than quantity is very important when using Social Media sites for marketing purposes. Quality posts are those that offer real value to the Social Media site's audience.

Conclusion

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