Should Your Small/Medium-Sized Company Use Social Media?

Social Media

Here at FinTech we are often asked these questions:

  • Should our small/medium sized company be on social media?
  • How should we go about creating a presence on social media platforms?
  • What would be the business benefits?

The answer to the first question is, in our opinion, yes, absolutely!

It’s no longer a secret that social media helps any business in reaching its targeted audiences. Not only that, but social media has become a ‘must have’ for any business, be it big or small. It’s a very fast, efficient and easy to use way of getting in touch with your current and future possible clients.

It helps in raising awareness about your company, it helps in getting leads for your business, and it’s a way of letting people know what your company is doing on a regular basis.

In response to the second question, here is our suggested practical approach.

  1. Start by setting up a social media plan for your business

To do this, carry out an audit of your company and try to figure out which social networks work best for your industry. This research does take up a lot of time at the beginning, but the good news is that it’s worth it and you only have to do it once.

  1. Research your competition and keep up to date with the latest news

In the digital age, not knowing what your competition is doing is a definite disadvantage. Especially since doing research or checking updates from your competitors has never been easier.

Start by following their social media accounts and see what they’re posting. See what how they engage with their target audience. Subscribe to their newsletters, webinars, conferences and so on, just to be sure that you’re always “in the loop”.  Take whatever works from their social media communication and add it to your plan.

  1. Master one social media platform

Spreading too much, too fast is almost never a good idea. Sure, start by creating social media accounts for your business on all the relevant social networks, but try to master one platform before being “too social” on all of them. Focus on one platform and get yourself noticed there.

  1. Engage with your audience and see what they have to say

Engaging with your target audience can prove to be crucial, especially when you are a small business, or a company that’s just starting out. Establishing a loyal fan base is key in taking your business to the next level.

  1. Create Your Brand Recognition

You’ll be able to focus more on developing your product(s), think about scaling up and how to acquire more customers, once your company has established itself as a strong brand.

Brand on Social Media

Finally: how can social media benefit my business?

  • Increase Brand Awareness & Loyalty

When you post to your social media network, anyone who likes or follows your business profile will see it, so whether you’re sharing valuable information or a silly story, you’re getting in front of your viewers. If your viewers find it share-worthy and post it to their profiles, their followers will see it as well, and then those followers share with their followers, and so on, and so on (think multiplier effect).

  • Connect with Your Target Audience

These days your prospects are looking to social media first to connect with companies like yours. So be there.

  • Improve Client Retention

The open communication and convenience of social media is extremely conducive to building deeper relationships with your clients. When you respond to your client in a prompt and professional manner, you boost customer loyalty, which means better client retention.

  • Increase Traffic & Conversions on Your Website

Every time you include a link to your website in a social media post, you’re creating new points of entry for viewers to get to your website.

The more traffic you get, the more opportunities for conversions.

  • Open Up Opportunities for Sharing

If you have a marketing message you want to get to your audience as quickly as possible, all you have to do is post it your social media accounts.

  • Keep Track of Your Competitors

Watching your competitors’ activities not only keeps you up to speed on what they’re doing but could also provide extra insight into your industry’s advancements.

To summarise, definitely we recommend that you grow your business by marketing it online.

If you’re interested in learning more about social media management, or if you have any questions about social media for small businesses, do not hesitate to contact our specialised consultants.

If you prefer, we can manage your Social Media presence so that you are free to run your business.

Email us at info@fintech-management-services.com, or call us on:

+66 [0]62 416 4225 (Thai and English)

+66 [0]84 308 9378 (English).