Similar to other sectors, the business industry has evolved with the influence of technology. With that, the modern-day business world has deemed social media a standardized marketing tool. However, even if a business takes advantage of an online social platform, that does not mean all efforts are effective, resulting in the risk of lost time and money. To gain in the game involves knowledge about how best to play. The Everest Business Funding team works to boost profits for the businesses they work with and busts three social media myths and misunderstandings that prevent organizations from gaining the maximum benefits from online activity.
Myth Bust #1: Join Every Social Media Platform
An entrepreneur can easily get caught up in creating an online presence on every social media platform all at once from the start. Though this strategy might be intended to spread brand exposure wherever possible, it could lead to the downfall of a brand’s social media awareness. Working to build a start-up or small business can require an entrepreneur to wear multiple hats. When time is of the essence and entrepreneurs are stretched thin, thinking strategically with quality moves at the forefront is key to increasing the chances of reaping the reward from online efforts.
For example, a strategic way to approach which social media platforms to take advantage of involves doing some discovery work on what online outlet hosts the majority of a business’s target audience. Wherever most ideal consumers hang out and engage online is where a company wants to invest their time and thoughts. After establishing a profile in the most lucrative area, the next step is to produce valuable content that will attract a desired group of consumers.
Myth Bust #2: Memorable Content Equals Best Brand
The answer to a brand gaining best in class on social media is content going viral, right? Actually, what makes a business and brand considered best in class through the eyes of the consumer is not memorable content going viral but robust customer service. When consumers can positively engage with a business and feel heard as clients, that business’s reputation boosts to the top. Companies can elevate customer service through social media by speeding up response time when conversing with consumers and asking for feedback on product or service improvements.
Myth Bust #3: Social Media is Free of Cost
Time is money in business. Though it might be free for a business to start a social media account, utilizing that platform properly to generate leads and improve customer engagement takes investing quality time. When building an organization at any stage, time spent comes with a price.
Managing a social media account involves regular posts of quality content that caters to a target audience through SEO and published information. In addition to planning and maintaining a steady stream of quality content, social media accounts also needed to be monitored for consumer engagement to produce speedy responses and continuous consumer interactions. And as if that was not enough, collecting analytics to know what is working and what is not is critical for brand growth on social media.
About Everest Business Funding
Everest Business Funding provides alternative finance options and revenue-based funding to small business owners. They serve a diverse pool of businesses, from healthcare to retail, to help them obtain working capital to grow, buy inventory, launch marketing campaigns, or hire staff. Everest Business Funding’s clients are treated with respect and receive high-quality guidance and service from its professionals.
