Article | April 2, 2020
As the COVID-19 pandemic wreaks havoc across the globe from a public health and economic standpoint, Facebook has stepped up to offer relief to small businesses suffering financial loss. The number of U.S. unemployment claims increased by more than 3 million in just one week, and numerous small businesses, nonprofits and other companies are losing money due to quarantine mandates. In response, Facebook recently announced that it plans to provide grants to small businesses to help them rebuild revenue as the economy slows. Below, examine Facebook’s offerings for small businesses and elaborate on how small businesses can apply for aid from Facebook.
Article | July 9, 2021
How did your company survive the pandemic? What is the business strategy takeaway for surviving future recessions?
To help business owners survive future recessions, we asked CEOs and business professionals this question for their best strategies. From standing firm on price to looking for innovation in the market, there are several ways to help your business survive any future recessions and continue to grow your business.
Article | June 9, 2021
December 2019 was just the start of something sudden and drastic change a world was about to witness and changed the pattern and working of business completely. Covid 19 has been a major economic shock for both large businesses as well as small businesses. Marketing their business became difficult and was even more difficult and challenging for small business owners. The impact of COVID-19 was enormous on small businesses. Pandemic was a time to come up with new marketing strategies for small businesses. Here are few promising marketing strategies for small businesses during COVID-19.
Effects of the pandemic on small business
Small business was the hardest hit due to the onset of the pandemic and effects of the pandemic on small business has been severe. The unprecedented nature of COVID-19 brought up widespread closing of businesses, factories, and stores around the world. Temporary closure of businesses due to pandemic reflected income losses to business owners due to inactive months.
As per a recent study, 34% of U.S. small businesses are still closed. COVID-19 continues to be challenging for small businesses forcing them to shut down their business permanently. As per the recent survey, about 22% of U.S. small businesses have closed in February. Effects of the pandemic on a small business stay the longest.
Customers being reluctant to rush to stores for their purchases considering their safety has reduced the business for small business owners. As per the survey conducted by McKinsey, almost 47% of small business owners are concerned about their sustainability in the market, and about 57% of the owners are concerned about the lack of customers.
What are the challenges faced by small business during the pandemic?
COVID-19 magnified the pre-existing challenges of small businesses along with the addition of more challenges. The new challenges faced by small businesses during the pandemic are money management, work-life balance and fatigue, government regulations, client dependency, and going for an online platform. However, the Small Business Administration (SBA) of the federal government came forward to help businesses. The federal government enforced the Paycheck Protection Program Act (PPP), by the CARES Act, aided the small business loans with the fund. Switching to digital is a new need of an hour to ameliorate the involvement of new and existing customers and having social media presence.
Sharing the best marketing strategies for small businesses to overcome the challenges during the COVID-19 pandemic.
Best Marketing Strategies for Small Business
Get Website for Online Presence
Do you need a website for small businesses? The answer is yes. Websites are like a business card to reach out to the customers; with the absence of a website, you will be missing out on the major chunk of the market. Simply by making your online presence you will create the most important asset for your small business. It is a channel where you will exhibit the information about your brand, who you are, where are you, what can you offer, and how potential customers can reach out to you. You can grab traffic information from your website through a search engine. The data and analytics provided such as how many people visited your website, time duration spent by people on your webpage, demographic details of your visitors, and many more enables the success of your website.
Google My Business Listing
Google My Business is an effective part of digital marketing strategies for small businesses. It is cost-effective for small businesses and gives your business visibility on Google and beneficial for targeting local customers. Google My Business provides you with a free set of tools increasing your reach with higher online visibility. Google My Business is affordable for both small and large businesses. With good reviews from the customers or if you rank in the top 3 of Google My Business listings you can pull many leads, and gain credibility and trust for your business.
Email marketing strategy is an important and critical part of marketing strategies for small businesses and works best during the COVID-19 pandemic. Email is the highest converting channel that helps in nurturing leads. Email marketing for small businesses is cost-effective and involves showcasing new products, important business updates, special offers, prompting your recipients to click through your website. Other benefits that email marketing for small businesses offers are easy to automate, immediate communication, easy to track and optimize, and easy to set up and run.
Content marketing during COVID-19 for small businesses has been at the center of business marketing strategy. Content marketing is creating and publishing high-quality content including, articles, emails, online courses, podcasts, and videos to reach out to the target audience. Content marketing is a must for small businesses because it is highly result-oriented. Content marketing helps small businesses to create trust and long-term relationships with customers and potential prospects and gives better exposure to your products or services.
Blogging has proved to be one of the successful marketing strategies for small businesses during the COVID-19 pandemic. Starting up a blog will help you generate organic traffic and increase awareness for your brand, in return will improve your website’s rankings on the search engines. Blogging is a part of content marketing offering information about relevant topics to customers, in your case, it will be about your business. Starting a blog is important for small businesses because it helps you think in new ways, it is great for marketing, it allows you to share your expertise, and it creates a 2-way conversation.
More than 40,000 search inquiries are made on Google every second, so you can imagine the reach of audience your business can gain. Advertising on Google is of great worth for small businesses. Google AdWords is considered a more expensive and competitive form of marketing tactics; they are paid ads but are also one of the most powerful marketing strategies. In Google AdWords, Google assigns a quality score to your Ad depending on your Click Through Rate (CTR), relevance, and landing page your ad sends traffic to. Google AdWords gives you immediate results and ranges up as per your budget.
Using Social Media Platform
Using social media marketing is relevant and non-negotiable for small businesses because it helps to build wide awareness for their brand. Today’s world is social media savvy. Social media platforms have no more remained just a fun platform to socialize or connect with but have turned into a powerful tool for business reach by engaging with potential customers. Presence on social media can help small businesses to build up a rapport with customers, gain an opportunity to promote their products or services to larger audiences. Facebook, Instagram, Twitter, Pinterest, and LinkedIn are a few of the social media platforms that are highly active, hence proves to be one of the easy marketing strategies for small businesses.
Use the Power of SEO
Business slowed down in the pandemic and businesses are reluctant to commit. Once an impressive website is developed, search engine optimization (SEO) is one of the impactful marketing strategies for small businesses. SEO is a time taking strategy to show the results but in the long run, SEO marketing strategy surely brings you the desired success. SEO is to optimize your website and content for google search engines so that your business ranks higher on searches. Higher the rank on google search higher the chances of traffic drive to your website and higher the chance of your website being clicked.
With the practice of the above-mentioned strategies for small businesses during COVID-19, you will bring a boost to your business.
What are the marketing strategies in COVID-19?
The world has heavily relied on technology as in the age of COVID-19. New marketing strategies have been brought fore-front to leverage the business growth and reach. Email marketing, content marketing, blogging, SEO, are marketing strategies to name which are emerging as powerful promotional tools.
Is Email Marketing effective for small business?
Email marketing has been the biggest benefit for small businesses during the pandemic due to its cost-effectiveness and use of time. Email marketing is the most impactful marketing channel during this time because it allows business owners to build relationships with new customers, past customers, and leads.
How Content Marketing helps small business?
Content marketing is a key strategy to introduce your business to a new audience and increase brand awareness, reach, and domain authority. Content marketing during COVID-19 for small business is becoming important for small businesses majorly for generating leads and sales.
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"text": "Email marketing has been the biggest benefit for small businesses during the pandemic due to its cost-effectiveness and use of time. Email marketing is the most impactful marketing channel during this time because it allows business owners to build relationships with new customers, past customers, and leads."
"name": "How Content Marketing helps small business?",
"text": "Content marketing is a key strategy to introduce your business to a new audience and increase brand awareness, reach, and domain authority. Content marketing during COVID-19 for small business is becoming important for small businesses majorly for generating leads and sales."
Article | July 6, 2021
With the emergence of COVID-19, social media became a powerful platform for small businesses to connect directly with an audience and thus, build brand awareness, direct sales, reaching the target audience, and cultivate customer relationships. As a result, social media strategy for small businesses is in high demand.
According to the most recent data, there will be 4.33 billion social media users worldwide at the start of 2021, accounting for more than 55% of the total global population. With more than 70% of the US population having a social media account, these platforms and services have risen to prominence as some of the most popular online activities in recent decades. As a result, the number of social network users in the United States will reach 243 million by 2025. Furthermore, the world spends more than 10 billion hours per day on social media platforms, equating nearly 1.2 million years of human existence.
The statistics states that maximum people spend most of their time on social media apps; thus it is a powerful platform of marketing for small businesses.
What is a social media strategy for small businesses?
A social media strategy enlists everything you want to do and achieve on your preferred social media platform. It contains information about your goals, what you intend to post, and how you intend to measure the success of your goals. Social media strategy requires setting social media goals and objectives.
A smart social media strategy helps you build brand awareness, connect directly with customers, increase revenue, and build relationships with your audience. The more detailed your social media plan, the more effective it will be.
The primary goal of social media strategy is to create a systematic plan for maximizing engagement and interactions across social media platforms to achieve a company's goals.
Why do you need a social media strategy for your small business?
Trying to build a strong brand on social media is not a piece of cake. It demands a well-defined strategy that will help you to build a strong and organic presence online. Having a well-built social media strategy helps you save time. Social media is a crucial part of an inbound marketing strategy and requires a lot of effort. At one point in time, social media was just an option for small businesses, but 2020 has made it essential. Social media strategy enables targeting your audience more effectively and will also help you stay ahead of the competition.
To taste success, small businesses should have a social media strategy in place. According to the study, 53% of customers who follow a company on social media are more likely to be loyal to them specifically.
There are several social media channels available such as LinkedIn, Facebook, Instagram, Twitter, YouTube, etc. From a social media marketing perspective, Facebook is the most used social platform and can be one of the best social media channels for small businesses. However, having a dynamic social media strategy for small businesses is extremely beneficial for its success.
Set social SMART goals
It is easy to start using social media for business, but before that, it is important to create a social media plan that ensures all social efforts support specific business goals. Be clear on your goals for making social media plan. Hence, create smart goals with a SMART framework.
A SMART goal is defined as specific, measurable, achievable, relevant and time-bound. You can keep your efforts focused and effective by setting these goals for social media marketing tips.
Specific: Be specific with your goals and objectives to set your strategies and determine which channel will assist you in achieving them. The goals of each business owner differ; some want to connect with customers, while others want to increase conversations or traffic to their website.
Measurable: Your goals need to be measurable to determine the effectiveness of your strategies. Each social media network has a set of metrics that businesses can use to gauge their efforts. However, few tools like Google Analytics help to track engagement and conversion metrics.
Achievable: Your goals need to be achievable by your business.
Relevant: Your goals need to be relevant to the objectives of your business.
Time-bound: Your objective must be time-bound. But determining the best time frame can be difficult. Set a quarterly goal to ensure you don't waste time on ineffective strategies for too long. Evaluation will be simpler and more frequent.
Setting a SMART goal is an essential social media strategy for small businesses. For 2021 and beyond, SMART goals are the most popular and long-lasting goal-setting frameworks in the industry.
Hand-pick the right social media platforms
Choosing the right social media platforms among over 100 platforms available is a bit tricky. How do you know which is the right one for your business? If you try to use multiple channels at the same time, your chances of success will decrease, and it will be difficult to deliver a consistent experience across all platforms, especially for small businesses with limited resources.
All social media platforms have advantages and disadvantages; you must be cautious when choosing the right network, keeping in mind your target audience and where your current customers are most active. Choose the platforms that make the most sense for the nature of your business.
Pay attention to trends of social media
It is a good practice to pay attention to trends in social media because they change all the time, so you will be aware of what people are looking for in social media platforms when they are active. As a result, you will be able to create content that is relevant to the search. It is critical to monitor social media trends and keep your social media strategy up to date to achieve your business goals.
Keep in mind your current audience’s needs so that you can change your strategy accordingly. Customer’s tastes, behavior, and likings are dynamic, and you will know it only when you keep track of social media trends. If small business owners want to take advantage of social media platforms, they will have to pay attention to the social media trends.
Track and measure your social media goals
Tracking and measuring the performance and progress of your social media goals is important once you implement your social media strategies. Consistency is essential for the success of social media strategy for small businesses.
There are analytic tools such as Google Analytics that give you information about the metrics. Social media goals determine your metrics. Social media metrics give you a clear picture of how well your social media strategy is performing.
Once you know how your strategy is working, you can find ways to improve it further. When you have determined your goals and social media metrics, you can choose the right social media tools to help you manage your accounts, monitor engagement, and advertise on social platforms. To track and measure your social media goals is one of the important social media marketing tips.
Schedule social media calendar for small business
A small business owner needs to be consistent in their presence on social media. Now the question is, how do you do this? When you have a long list of things-to-do, you can schedule posts in advance by making use of technology and tools. By using tools, schedule a social media calendar for small businesses to post them automatically at the right time.
This will give you consistency as well as save time. It is of utmost importance that your social media plan for small businesses include certain fixed days every month or a fixed few hours every week to schedule your social posts. It gives you ample time to concentrate on other aspects on different platforms for real-time engagement when you plan it well. This is an effortless social media strategy for small businesses.
Frequently Asked Questions:
Which social media is best for small businesses?
The most common social media platforms used by small businesses include Facebook, Instagram, Twitter, LinkedIn, and Pinterest. Social media is easy for small business owners because it is cost-effective. Among all these, LinkedIn is considered best for small businesses to connect with other businesses and professionals.
Why is social media good for small businesses?
Social media helps you build brand awareness, connect with current customers, and increases your customer base. Social media platform gives you a better understanding of your customers.
What are the five benefits of social media?
The benefits of using social media are endless. A few benefits to pen down are it helps to build relationships, increases visibility, helps connect with wider audiences anytime, anywhere, reduces marketing costs, and provides better search engine rankings.
"name": "Which social media is best for small businesses?",
"text": "The most common social media platforms used by small businesses include Facebook, Instagram, Twitter, LinkedIn, and Pinterest. Social media is easy for small business owners because it is cost-effective. Among all these, LinkedIn is considered best for small businesses to connect with other businesses and professionals."
"name": "Why is social media good for small businesses?",
"text": "Social media helps you build brand awareness, connect with current customers, and increases your customer base. Social media platform gives you a better understanding of your customers."
"name": "What are the five benefits of social media?",
"text": "The benefits of using social media are endless. A few benefits to pen down are it helps to build relationships, increases visibility, helps connect with wider audiences anytime, anywhere, reduces marketing costs, and provides better search engine rankings."