Thursday, 18 January 2018

Information and commentary for the small business banking industry

Make sure social media for business is a help, not a hindrance

28 Sep

Everyone’s on social media these days, or they’re at least familiar with it and know how to use Google. For that reason, it’s essential that small business owners make full use of social media as an effective, cost-effective (often free!) marketing tool. It’s the perfect way to engage with customers, especially if a business is offering their goods and services online. It’s great for driving traffic to a business website, for keeping up with the competition and industry happenings and for generating customer feedback.

But there is a line – the line from helping to hindrance – that sometimes gets crossed. This can happen when the old social media addiction kicks in, and business owners are spending a disproportionate amount of time on social media and neglecting their business.

Or it can happen when they’re over too many platforms, instead of sticking to the ones that are most beneficial to their business.

Another common pitfall is using social media to advertise their products and services, when really it should be used as an adjunct marketing tool to enhance the business website.

If this sounds like you, take a look at your social media behavior. Limit the amount of time you spend on Facebook, and stick to it. If you’re over Facebook, Twitter, Instagram, LinkedIn and YouTube, reduce the number of platforms or assign staff for each one.

Social media’s an essential marketing tool in today’s online world, as long as it’s used properly.

Read the full article at: hbr.org

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