The 5 Biggest Losses of Businesses that Skip Online Marketing
Study after study has shown that social media marketing is the most effective leads you can generate for your business. That is why it’s not surprising that 84% of business to business marketers use social media; even business to customer marketers are also jumping on the social media bandwagon. No matter what your company is or who you’re selling to, online marketing can be immensely helpful for your company.
Singapore is increasingly become connected to the online world. Almost everyone has an online presence nowadays, from Facebook to Pinterest to Twitter. For business owners and entrepreneurs, this means that your potential customers are in a space that you cannot reach without being online as well. At present, more and more businesses in Singapore are noticing the importance of online marketing. There are more businesses that are getting an online presence and have noticed a boost in sales and an increased audience base.
Despite all these numbers, there are still a lot of businesses who refuse to create a social media presence. There are many reasons why a business may choose to ignore this method of advertising, including the fact that learning how to create an online presence would require spending resources like time, or hiring individuals for this role. Some businesses may also underestimate the importance of social media, thinking that they could get by with sticking to traditional methods of advertising. Is this really such a bad idea? Here are some of the things that you could miss out on if your business doesn’t have an online presence.
- Important networks
The best foundation you can have for any project is the support you are given by people who believe in you. Every good entrepreneur knows that you will need a good network to create anything good and substantial. With a good network, you can make sure that you’re going in the right direction. However, building relationships are always hard, especially if you’re trying to create a business with it. But with the dawn of the internet, we can build relationships effortlessly like never before.
With social media, you can personally interact with your customer base. Never in history have businesses been able to connect with their customers in a more personal manner. You can get to know your customers simply by looking at their Twitter and Facebook feeds and gain insights about their habits and preferences. With this important information, you can tailor your marketing approach to better cater to their needs, increasing both your customer loyalty all while satisfying customers.
- Accurate information
Using the internet, it can be so easy to connect with your customers, and personally ask them what they think of your product. You could even ask them for ideas about what to provide next. These answers can be the most important information that you have to adjust your marketing strategy. After all, what’s the best way to get information on how to cater to your customers than your customers themselves? Gone are the days of estimates and statistics; the internet has given us a way to get the most accurate information possible.
- Faster response time to issues
With the fast-paced world of today, we need to respond to issues and problems faster and faster. For some companies. this can mean trouble. Many businesses have been put in hot water because of a slow response. The ability to respond quickly is now a necessity, instead of just something that is preferred.
A good businessman would want to respond to problems as soon as possible. Thankfully, social media allows to us to get this information almost instantaneously. You can quickly get feedback from customers about the issues of your products. Likewise, you can quickly respond to complaints from unsatisfied customers. This can be immensely important as online, a single complaint can blow up out of proportion, giving your company a bad reputation. Being able to respond to this complaint can mean a good reflection on your business, instead of a huge problem that could have easily been solved.
- Promote your business at events and media
Social media helps you update your customers with the least bit of cost. This means that you could tell them where you are, and what you’re doing, exponentially making your promotions much more effective than ever before. For example, if you’re going to set up shop at an event, or attending a seminar, you can easily update all your customers about it. This can inspire your customers to connect with you at the event, or even get other people at the same event to notice you.
- Access to a level playing field
Of all the avenues of advertisements, social media is the most level playing field of them all. Unlike other marketing strategies, wherein you will have to compete with bigger brands and budgets, social media marketing forces everyone to start on equal footing. There are many tools and techniques that can be accessed by any entrepreneur, most of them even free to use. Gone are the days wherein big business overshadow smaller ones. Social media marketing favors the witty, entertaining, and helpful. As long as your content is helpful to people, be it in ways that entertain, inform, or support, your social media presence will be patronized and your business will grow.
If you want to have an effective social media presence, you will have to create content that is helpful for people and your target audience. With a consistent and authentic online presence, you can drive more traffic to your business, and attract a dedicated customer base that will you grow and serve your audience.