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Business/Entrepreneurship eLearning

TIPS ON CHOOSING A SOCIAL MEDIA PLATFORM FOR YOUR BUSINESS

Social media is powerful as it is influential and if your business has not yet joined in, your business could be missing a lot of opportunities. Data by HubSpot shows that 92% of marketers agree that it has generated exposure for their business with a majority reporting increased traffic, search engine rankings, and sales.

With the rise of social media, starting a business has never been easier. All you have to do is think up a business name and open a new account on the platform you are most familiar with and voila! and you are a small business owner.

But is that all there is to choosing an online home for your business? Apparently not!

More than half of marketers also admitted using social networking sites to develop a loyal following while reducing (traditional) marketing expenses. To build a loyal following that will translate to sales your business must be on the right platform.

Now, let’s run through some important tips for choosing a social media platform for your business.

Identify your target audience.

Identifying your target audience is a key to business success on social media. When you define your ideal customer profile it helps with tailoring your social media marketing strategies to reach your target audience.

You don’t want to expend advertising funds on LinkedIn when you should have put that same energy on Instagram or Twitter to get better resources; since your target audience are young and vibrant.

You don’t have to be everywhere

A lot of businesses feel the need for their business to be on every social media but the contrary, it’s more important to have a focus. If your business has the resource to be on many platforms by all means go for it. but is more effective to focus on the platform(s) used by your target audience.

If your target audience are professionals you are more likely to find them on LinkedIn, if your business has to do with visuals, Instagram will most likely be a platform to concentrate on and this is very relative.

Another important point to note is that when you focus on one social media platform and grow its engagement, the brand reputation will most likely spill over to other platforms and influence its growth easily.

Define your social media objective/goals

So, you have chosen the ideal platform(s) that’s a great fit for your business, and then what?

This is why there has to be a clear goal(s) in mind besides visibility for the brand. Other goals could be to improving customer service and building customer loyalty; creating a channel for customer feedback; updating your customers on new products, services; or deals, increasing traffic to your website; conduct informal market research; creating a sales funnel; and so on.

What’s important is that the goal has to be clear and overall that your business goals are in are in alignment with your business or sales goals.

There you have it! three important tips for choosing a social media platform for your business.

Which social media platform is your business most active on?

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Business/Entrepreneurship Entrepreneur

5 COMMON MISTAKES IN SALES

Sales is at the core of every profit-making business and must be treated as such.  The reason for a dip in sales or low sales is not far-fetched. It is traceable. Here are some mistakes you may be  making in sales;

Selling what you like and not needs

It’s great that you love knitting but is that an immediate need in your immediate environment? Is there a ready market for it?

Money making (sales) is directly proportional to creating value and the more value you create the more money you make(sales).

Coming off as too “salesy”

You have probably heard this so many times and I will tell you again, “NOBODY LIKES TO BE SOLD”. Most people like to feel in control of their buying decision rather than feel coerced into buying.

A better approach is to influence their buying. Hence the rise in the use of influencers by brands, both local and global. This use of influencers will create a desire, need, or a sense of urgency to purchase that item.

However, it is important to note that building trust is directly proportional to sales therefore people are more likely to buy things from people they trust.

People trust influencers and so are more likely to trust your brand. Find more information on the use of influencers for both small and global brands here.

Trying to sell to everyone.

Everyone is not your customer except you are selling water and even at that there are different markets for drinking water, sachet water, bottled water, sparkling water and a host of other diverse classifications for different target markets.

 A rich person is more likely to get sparkling water or bottled water and trying to sell him sachet water would be as futile as trying to fill a basket with water because it is beneath his standard of living. Do you get the drift?

In the same vein, it is important to first identify your target market and ensure that you are expending your advertising and marketing on the right platform and to the right people.

Drawing up an ideal client profile or avatar would help guide you to manage your business resources and in essence improve sales.

Proper follow – up

It is not enough to put all your resources in advertising and promoting your product or service.

It is also important to properly and immediately follow up on clients who have made enquires or clients who have shopped your products or engaged your services to get good reviews and in the same vein generate referrals that would be long-term clients.

It is also important to follow up on old-clientele to know their itch-cycle and sell them the product or service exactly when they need it.  

Also, it is a short-sighted approach to ignore your present clientele and chase new clients because milking your current clientele Is a cheaper and easier strategy to generate more sales.

You will probably make more sales than you are making now If you push a little more with follow-up strategies to close sales.

Bad closing approach

Closing sales is fast becoming a core skill, it is in high demand because it is so delicate and important in improving sales. it is arguably where the most sales mistakes are made.

There’s no one way to close sales, there are different techniques to closing sales, which we will address in a different blog post.

However, it is important to note that in closing sales, it is important to be sensitive to the customer needs and do more listening rather than talking.

Ask the right question to address the concerns in the mind of the prospective client, this would take away the obstacles in sales.

Which of these sales mistakes have you been making? What do you plan to do differently? Let us know!