2017-12-05 00:00:00Social MediaEnglishCheck out four common small business ventures that require you to use social media effectively to maximize your bottom line.https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/12/Online-small-business-employee-reviews-social-media-platforms-in-store.jpgFour Small Businesses That Center Around Social Media

Four Small Businesses That Center Around Social Media

2 min read

Since its inception, social media has provided the opportunity to connect with other people, but now, it also provides all kinds of business opportunities. Many of the most popular online businesses either revolve around social media or heavily favour businesses that use it. Here are four types of small businesses in which taking advantage of social media can make a huge difference.

E-Commerce Businesses

Even though you can run an e-commerce business without going near social media, you’re fighting an uphill battle. It takes time to build your search engine optimization enough that you bring in solid organic traffic, especially when you’re competing with massive online retailers that already have strong customer bases.

Social media marketing can help you connect with potential customers directly and entice them with unique marketing campaigns. With pay-per-click ads on Facebook or other popular social networks, you can set a desired audience for your ads and only pay when someone clicks through to your site, making social media an inexpensive way to build your brand.

Blogging

When you have a blogging business, your content is a major part of your success, but how you promote it is just as important. All the major social networks promote sharing content, and creating shareable content that spreads across social media is one of the fastest ways to get your blog in front of more readers.

Facebook and LinkedIn are the social networks that are the most blog-post friendly, though Twitter can also be a good choice. The key with using social media to promote your blog posts is that you make the promotion only a small portion of your interactions. Focus more on engaging with other users, as this makes them more likely to check out your content and share it when you do make a promotional post.

Social Media Consulting

It doesn’t get any more social-media oriented than social media consulting. In this business, you help other businesses get the best results when they use social media.

This may sound simple on the surface, but there is quite a bit that goes into being an effective social media consultant. You’re expected to grow the network of the business, manage its reputation, come up with social media marketing campaigns, and send social media users to the business’ website. This takes a diverse skill set with knowledge of marketing and the ins and outs of each social network.

Influencer Marketing

Influencer marketing has become one of the most popular marketing trends, and it gives social media users the opportunity to earn money for promoting businesses and products. For example, many popular Instagram users post pictures of themselves wearing certain brands and receive payments from those brands for the promotion.

To be an influencer, you need to run your social media account as a business. It takes time and consistent posting to build up a large follower base that engages with your posts, which is what businesses want to see when they consider working with you.

While social media is a helpful tool for just about any business, in certain ventures, effective social media use is the difference between success and failure.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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