15 Social Media Strategies for SMEs to Boost Business Growth and Maximize Profits
To help SMEs leverage social media for business growth and profit maximization, we asked fifteen industry professionals, including Global SMB Content Strategy Managers and CEOs, for their top strategies. From embracing imperfection for virality to engaging your audience with serialized content, here are the insightful strategies they shared.
- Embrace Imperfection for Virality
- Promote Engaging Ads on Social Media
- Build a Strong Online Community
- Expand Reach with Hashtags
- Aim for Viral Content
- Humanize the Brand with Behind-the-Scenes Tours
- Leverage User-Generated Content
- Use Instagram Shop for Direct Purchases
- Respond to Customers and Collect Feedback
- Host Virtual Pop-Up Events
- Collaborate with Social Media Influencers
- Focus on Strengths
- Set Up a Social Media Shop
- Post Industry Expertise on LinkedIn
- Engage Your Audience with Serialized Content
Embrace Imperfection for Virality
Don’t try too hard or think too hard to be perfect. Imperfection is what works. For example, a small business owner in our Lexmark Printers for SMB Owners Customer Reference Program, Paula, owner of Above the Dirt Garden Shop, posted a non-produced, quick-tip reel via phone on Instagram. It went viral without her knowing and was then picked up by a niche site, which was then picked up by Yahoo News! (https://news.yahoo.com/gardening-expert-shares-simple-hack-020000895.html).
Promote Engaging Ads on Social Media
Social media platforms are currently the most popular pastimes. Companies can leverage this fact to their advantage. All they have to do is create engaging ads and promote them. That’s very easy to do on these platforms. They don’t have to create dedicated ads. They can even promote the content they’ve already uploaded to their profile. With a good strategy, they can improve their reach and achieve more sales for business growth.
Build a Strong Online Community
One highly effective strategy for SMEs to exploit the use of social media for business growth and profit maximization is to focus on building and nurturing a strong online community.
Social media platforms offer an excellent opportunity for SMEs to connect with their target audience on a personal level. By creating and maintaining a dedicated online community around your brand or industry, you can foster meaningful relationships with your customers and potential clients.
Understand your ideal customers and their preferences. Determine which social media platforms they frequent the most. Maintain a consistent brand identity across all your social media profiles to build trust and recognition. Actively engage with your followers by responding to comments, asking questions, and conducting polls or surveys. Show appreciation for their support and input.
Expand Reach with Hashtags
Hashtags are one of the best ways to exploit the use of social media. This feature or trend is very popular now. They are used in almost every social media post. Hashtags have the power to spread your content far and wide. You can expand your reach and brand awareness. The more people who find your brand on social media, the more sales you’ll eventually get.
Aim for Viral Content
Aiming for virality is one good strategy. Consider using engaging and shareable content. This may be a funny short video, a heartfelt story, or a creative challenge relating to your product or service. By exploiting the power of emotions and relatability, the content you made has the potential to go viral, reaching hundreds or even millions of users organically.
A small bakery, for example, may launch a challenge encouraging customers to make their own cake creations and share them with a unique hashtag. The promise of a small reward or a feature on the bakery’s Facebook page can encourage participation. People sharing their masterpieces not only advertise the bakery, but they also generate a buzz, drawing prospective customers.
Viral content has an incredible snowball effect, expanding an SME’s reach exponentially and ultimately boosting sales. Plus, it’s cost-effective, making it an ideal strategy for SMEs with limited budgets.
Humanize the Brand with Behind-the-Scenes Tours
I love the idea of humanizing your brand by giving a behind-the-scenes tour of your business. It promotes transparency and builds trust in the quality and authenticity of your brand.
It may take a lot to get you in front of the camera, but this idea, made popular by Instagram influencers, can really be used very effectively across social media, including LinkedIn.
You can either just post a pre-recorded video or host live virtual tours. These may take a bit more confidence but really encourage real-time engagement as viewers can ask questions and interact with your business directly.
You can even offer exclusive discounts or promotions exclusively to live viewers, which can lead to immediate sales. Everyone is a winner!
Leverage User-Generated Content
Utilizing user-generated content (UGC) is one efficient method for SMEs to use social media for business growth and profit maximization. Customers should be encouraged to develop and post information linked to their goods or services on social media sites through reviews, images, or customer testimonials. Give discounts or shout-outs as rewards for UGC contributions.
By doing this, SMEs may enhance brand awareness and leverage word-of-mouth advertising. UGC not only encourages genuine interactions with the audience but also offers priceless social proof, ultimately resulting in a rise in revenue and sales for the company.
Use Instagram Shop for Direct Purchases
For SMEs, harnessing social media is pivotal for growth and profit maximization. One effective strategy we employed is leveraging Instagram’s Shop feature. By tagging our anti-aging beauty devices in high-quality, user-generated content and influencer posts, we enabled direct, in-app purchases, significantly shortening the customer’s journey from discovery to purchase.
This strategy not only amplified our sales but also enhanced user engagement and brand visibility. It’s essential for SMEs to stay abreast of emerging social media features and leverage them to simplify the purchasing process, thereby driving both customer acquisition and retention, and ultimately maximizing profits.
Respond to Customers and Collect Feedback
Engaging with customers on social media is critical for SMEs. Respond to comments, reviews, and letters as soon as possible and professionally. This shows a dedication to customer satisfaction.
In addition, solicit feedback and use it to improve your products or services. A small software business, for example, can use feedback to improve its app’s user experience, resulting in improved customer satisfaction and increased profitability.
Host Virtual Pop-Up Events
Hosting virtual pop-up events on social media platforms is a tactic for SMEs. These gatherings may have a launch-related theme, a special promotion, or interactive workshops. A specialist food store might, for instance, hold a live culinary lesson on Facebook, promoting its items and offering cooking advice.
These activities foster interest and quick sales by fostering a sense of exclusivity and urgency. By utilizing the event format and the built-in social sharing capabilities of platforms, SMEs may draw in a wider audience, increase revenue, and provide their clients with a fresh and interesting product.
Collaborate with Social Media Influencers
Social media influencers have a large and engaged following on social media platforms. Collaborating with them can help SMEs reach a wider audience, increase brand awareness, and drive sales.
To successfully collaborate with social media influencers, SMEs should identify the right influencer for their target market and industry. They should also create engaging content that resonates with the influencer’s audience and accurately represents their brand. Additionally, SMEs can offer exclusive discounts or promotions for the influencer’s followers to incentivize them to make a purchase.
Focus on Strengths
In my experience, SMEs can exploit the use of social media for business growth and maximization of profits by focusing on their strengths. SMEs should focus on what they’re good at, and then use social media to share that information with their customers.
For example, if an SME is a farm that specializes in growing organic carrots, they might post pictures of these carrots on their Facebook page every day. This will allow them to show off their expertise in growing organic carrots and encourage people to buy from them because they know they’ll get a high-quality product.
Set Up a Social Media Shop
Sell your own products or services by setting up your own social media shop, such as Facebook Shops, Instagram Shopping, and TikTok Shop. You can earn more through social media for your small business by marketing your own items on these platforms.
To do this, you can transform your social media profiles into a sales channel for your company’s goods or offerings. Actually, certain social media platforms allow you to turn your profiles into online shops. Find out which sites align best with your business’s selling and advertising requirements, then monitor data to track your sales.
Post Industry Expertise on LinkedIn
One brilliant strategy for SMEs is using LinkedIn, a platform renowned for its professional network, to post insightful articles about their industry expertise regularly. These articles position the business as a thought leader, draw attention to its products or services, and engage potential clients or partners.
As these articles gain traction, they enhance the company’s visibility and credibility, leading to increased inquiries, collaborations, and sales. It’s not just about posting content; it’s about posting the right content on the right platform to resonate with the intended audience.
Engage Your Audience with Serialized Content
Welcome to the dynamic world of social media, where your book service and publishing SME can flourish! Harness the magic of content serialization.
Much like your favorite TV shows, craft content that unfolds over time to keep your audience returning for more. Start by serializing a book or guide relevant to your audience. Share snippets, chapters, or insightful quotes on platforms like Instagram, Facebook, or LinkedIn, creating anticipation and engagement.
Couple this with visually captivating images or videos, stirring discussions, and prompts that encourage your audience to share their thoughts and stories, effectively building a robust and interactive community around your content.
With every post, you not only market the book but also subtly showcase your services, establishing your brand as a valuable resource and thought leader in the industry. Engage, enchant, and convert your audience with serialized content, watching your SME grow and profits soar!
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