Small businesses have a limited marketing budget. A survey by BrightLocal shows that small to medium sized businesses (SMBs) spend on average $400/month on marketing. However, 32% of them spend less than $100/month.
So, how are SMBs choosing to spend their hard earned money in marketing? Turns out that on average, SMBs spend 46% of their marketing budget on digital marketing because 54.1% of them find that digital marketing is more effective than offline marketing such as local paper directories or local radio.
Word of mouth is the most effective
Even though digital marketing is more effective than offline marketing, small businesses say that Word of Mouth is the most effective means to generate new leads and customers. We all know how important word of mouth is. The next question is, “how does it relate to digital marketing?”
Social Media is the new Word of Mouth
eMarketer found that 68% of US social media users 18-34 and 53% of those ages 35-44 say they are at least somewhat likely to make a purchase based on a friend’s social media updates.
We can only have so many family members but potentially limitless number of social media “friends”. The ones with the most friends or followers and are sharing news or stories all the time are the influencers.
Influencers are the key to building brand loyalty quickly
Influencers who love your products or services can do wonders for your brand. They have proven rapport with their followers and can easily affect the buying behaviors of those who subscribe to their feeds and listen to their every word.
Once your business have connected positively with influencers, they will be thrilled to talk about your brand via social media, creating native content, such as videos and tweets, with your brand’s message.
How to connect with influencers
There are many ways to find the right influencers for your business. Be active on social media and research the trending stories related to your industry. Study your target audience to find out which social media sites they use the most. Also, utilize social media to give excellent customer service and your customers will be sure to talk about you.
Generate buzz about your company and be active on social media. Make a point to post some fun or useful information at least a few times a week. Ask you yourself, “what is something about my brand that can really inspire a conversation?”
For inspiration, check out how these companies are able to generate huge fan base using social media.
Tell us how your company is successfully marketing on social media. Share what you’ve learn with us below.