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Social Media and Entrepreneurship: The Long-Standing Correlation

February 28, 2018

 

 Effective, efficient and impactful social media marketing is the Holy Grail for every entrepreneur, in this day and age. This is to the extent that every entrepreneur, or small business owner, looking to make a name for themselves, puts social media among the primary marketing channels, with some even making it the center of their marketing campaign

 

 

 

How Effective is Social Media Marketing for Entrepreneurs

 

Consider the following supposed model:

 

You are an entrepreneur looking to expand your business reach and cover a certain demographic within a month’s time. Your product or service has a limited window of acceptance, after which the niche will be consumed by a competitor. At such a crucial time, you need a sure-fire marketing channel which will not only ensure maximum reach, but also develop a market of your own.

 

Now, in this case, you have two choices. Either you can hire a traditional marketing scheme, which will make your product visible to general internet-goers. The reach will be expansive, however the window may close before you can reach your goal, since a competitor may become aware of you campaign and speed up their own initiative.

 

In such a situation, it is vital to reach the target demographic as soon as possible, and that too on a platform that is valid and well-frequented.

 

Meaningful Entrepreneur-Customer Interactions

 

Ever since the start of social media marketing, it has been a common practice for all new entrepreneurs to interact and connect with their customers directly, without channels and red tape acting as hindrances.

 

Communication allows for a better understanding of the customers’ demands, and there is virtually no better communication platform than social media, where each entrepreneur can directly interact with any and all members to know their demands, attain feedback and even listen to grievances.

 

Such feedback can go a long way towards improving the quality of the product or service, as it directly caters to what the customer wants.

 

If an entrepreneur makes use of a social media group which is related to their business type, they can attract customers and subscribers of the most relevant kind, thus saving time and effort, and reaching the right people, down to the individual.

 

How to Effectively Harness Social Media

 

If an entrepreneur is to succeed in this atmosphere, they need to be up to date with not just the relevant business trends, but also possess an acute sense of projection, in order to gauge where the situation may lean the very next day. Social media can be a very good indicator of this, if the entrepreneur is to read into the signs properly and capitalize them from the get-go.

 

Also necessary is the timely usage of technology which enhances the social media experience for the entrepreneur, and gives them greater access to trending features that the consumer of today demands. Armed with the right tech, and up to date on trends, an entrepreneur can not only guarantee success, but also grow their brand very quickly.

 

April Salsbury, MBA is a strategist, an analyst, an operational guru, a recognized leader and C-suite global healthcare executive with drive and focus for competitive markets.  Co-host of The Business Forum Show and regular contributor to various business journals, she possess multi-functional and multi-national competencies with more than 15 years experience in business and healthcare. Her expertise is in invigorating revenue growth and infusing value of lean practices in growing companies through improvements to cash flow and operations management.

 

Fueling revenue, growth and profit, Salsbury & Co. is a consultancy firm focused on helping businesses and healthcare organizations achieve excellency.  Our specialists have executive experience combined with deep functional expertise to provide our clients with services that drive real impact and results.

 

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