Impact of Social Media Marketing on Performance of Micro and Small Businesses
Many people wonder how social media marketing has impacted the performance of micro and small businesses. The good news is that many micro and small businesses have not seen a decrease in revenue. This is because most have not measured the impact of social media marketing on revenue. The reasons for this can be many. The most obvious reason is that people like to buy from companies with a solid reputation and transparent advertising campaigns. But the truth is that social media is changing the way people view businesses. To be successful with social media, businesses must be transparent, helpful, and open. These strategies can position them as valuable resources for their customers and make them want to buy from them.
Before the introduction of social media, dissatisfied customers would not buy from a company. Instead, they would write angry letters and tell their friends not to buy from them either. But social media has changed all of that. Instead of a single person leaving a negative review, customers now have a community to turn to for support and assistance. This means that critical mass has never been closer. While companies try to respond to the needs of customers, they are living in fear of the pools of discontent.
While many businesses may not realize it, social media marketing is becoming increasingly important. More than half of all adults spend some time on social media, with 32% spending it daily or almost constantly. Facebook has the largest share of time spent on social media. In addition to this, almost 40% of those surveyed used social media for personal reasons, which is a good sign for small businesses. But there are other ways to measure the effectiveness of social media for your micro and small business.