If you have ever tried starting and running a business, you would know that it is not an easy task. Sometime in 2018, my friend, Ayo, decided to start a small business for a second source of income. She was selling different fashion items. However, she did not have a social media presence, so her business was mostly advertised by word of mouth, and patronized by family and friends. It didn’t take long for the so-called family and friends to run down the business as they were ordering her goods but not paying. There was so much debt and she could not go on with the business. Fast forward to 2021, she decided to try again, but this time, she opened a business page on different social media platforms, where she was advertising her goods. People interested in what she was selling started following the page and before long, she was raking in millions. One lesson she learned was that when you are fighting the battle of starting up a business, social media can be an effective weapon to fight your battle with.

We are in a digital age where social media has become an integral part of our daily lives and also an essential tool for small businesses to reach a wider audience. Thanks to the rise of social media platforms such as Facebook, Instagram, Twitter (now X), and others, small businesses can now grow their brand with dedication and hard work. These platforms have allowed small businesses to compete on a global scale, while also connecting with their customers in a more personal and engaging way. The Covid-19 pandemic also caused a shift in the way businesses operate. Many went from losing their jobs to becoming solo entrepreneurs with a remarkable online presence. Many realized that they could do so much more with social media platforms.

We are now seeing a new generation of entrepreneurs who are utilizing these platforms to build successful businesses, showing the world that social media is not just a virtual space for socializing or connecting with friends and family, but a game-changer for businesses around the world. In 2022, it was reported that over 4.59 billion people were using social media worldwide, over 50% of the world’s population. This number is projected to increase to almost six billion in 2027. This goes to show the importance of social media as an effective method of reaching all corners of the globe.

The Benefits Of Social Media For Small Businesses

Are you a business owner who still believes that social media is just for connecting with friends and family? Look around you and you will realize that social media has gone beyond that. As a business owner looking to grow your brand, you shouldn’t underestimate the power of social media. Just having an active social media profile can do your business a whole lot of good. Let’s look at some of these benefits.

It’s an easy way to reach more people: Do you know that you can reach a wider audience and increase your brand’s visibility just by having an active social media presence? With over 4.59 billion people using social media worldwide, small businesses can tap into this massive audience, reaching their ideal customers.

Brand awareness: Small businesses need social media to enhance brand awareness. Statistics have shown that consumers are on social media, making it a great space to increase brand awareness. Data from Meta shows that 83% of Instagram users say they discover new brands while using the platform. When you’re regularly posting on social media, you’re creating awareness for your brand. How does this work? When someone discovers your post on social media, they can share it with friends and family. These word-of-mouth referrals are essential for the growth of any small business as they further expose your brand to newer customers.

Connecting with customers on a more personal level: As a business owner, you can directly connect and interact with your customers, making them feel part of the brand. Prompt responses to their comments, questions, and other messages can help build trust in your brand, while also creating some sort of loyalty. Customers who have had a positive experience with a brand on social media are likely to recommend it to their friends and family.

It is cost-effective: Imagine how much you would be spending to advertise your business on TV, radio, magazines, and other traditional media platforms. With social media, small businesses can reach their ideal customers without breaking the bank. Advertising on social media can cost little to nothing and still have a huge impact on your business. And the good thing about social media advertising is that it is relatively inexpensive and can be targeted to specific audiences.

Target audience: Do you know who your customers are? Platforms like Facebook and Instagram can help you aggregate data and define your target market.

Keeping an eye on the competition: With social media, a small business owner can keep up with what other businesses in the area or industry are up to.

Photo by Kerde Severin

Social Media Success Stories

Some businesses started small on social media and today, they have become success stories. Remember my friend Ayo who started a fashion business on social media? She is still thriving, and today she has thousands of followers on her Instagram page who patronize her. Just like Ayo, several other people have made it big via social media. Let’s get to know some of them.

Gary Vaynerchuk: When it comes to promoting any business on social media, Gary Vaynerchuk, also known as Gary Vee, is your go-to guy. He launched his Wine TV series on YouTube in 2006 and has been creating daily content since then. Gary used social media to propel his family’s wine business, Wine Library, to new heights. His strategic use of social media platforms like Twitter and Instagram helped him grow the company’s revenue from $3 million to over $60 million in just a few years. Gary, who has been successful on social media for over ten years, has since become a renowned speaker, author, and entrepreneur, helping others navigate the world of social media.

Daniel Arnold: If you still doubt the power of social media, the story of Daniel Arnold may change your mind. This Brooklyn-based photographer went from having only a balance of $90.03 in his bank account to making $15,000 in one day after he had a clever idea to sell some photos on Instagram. Today, he is in high demand as a photographer, and his work is exhibited in galleries worldwide. He continues to thrive as a social media entrepreneur.

Chiara Ferragni: Starting as a blogger in 2009, she turned her fashion blog, The Blonde Salad, where she was documenting her camera-ready personal style, into a global brand. From the humble beginnings of taking selfies outside Milan runway shows to which she wasn’t invited, Ferragni used her social media style posts to create a multi-million-pound business. Her success as a social media entrepreneur has earned her a spot on Forbes’ list of the most powerful women in the world.

Photo by Alexander Suhorucov

Social Media Mistakes to Avoid

More businesses are adopting social media to promote their products and services, engage with customers, and increase their online presence. Just like social media can help you achieve your business goals and take your brand to the next level, it can also hurt your business if you lack the right strategies and tactics. Here are a few mistakes to avoid:

It is never a good idea to buy followers and likes.
Do not ignore negative feedback as this can provide valuable insights and opportunities for improvement.
Do not fail to give people credit for their work. Not doing so gives your business unexpected enemies instead of more connections.
Do not ignore your followers. Not engaging with your social media followers defeats the purpose of having an account.
Inconsistent posting can cause your content to get lost or forgotten.
Do not ignore analytics and insights. Doing so can prevent you from identifying what works and doesn’t for your business.

The Future of Social Media for Small Businesses

There is still so much in store for small businesses as the social media landscape is constantly evolving. As the social media space continues to evolve, businesses must consider how they will be impacted by these changes and also adapt their social media strategies accordingly.

Over the years, several social media platforms have come and gone. In the next few years, we will see the emergence of new platforms. Business owners need to stay informed about new platforms, adapt, and create content that resonates with their target audience.

As social media platforms become more integrated with e-commerce, business owners will need to leverage this trend to sell products directly to their followers.

Chatbots are becoming increasingly popular in customer service. As a business owner, you can use this to provide personalized and real-time customer service on social media platforms.