A review posted on the Wiley Online Library in 2023 quotes several studies showing that social media and social media influencers have a strong effect on consumers’ buying behaviour. For example, in a 2022 study by Izea Insights, 92% of respondents aged 18 to 29 followed social media influencers, 56% of respondents of all ages had bought something because it was recommended by an influencer, and 62% said that they would rather buy a product recommended by an influencer than 1 endorsed by a sport or entertainment celebrity.

Viral products and trending posts can make or break your business, so make the most of the marketing opportunities that social media platforms offer. This marketing strategy also allows you to build a direct relationship with your customers and engage them in a way that other types of advertising can’t.

Can social media turn a business around?

The Stanley brand is a topical example. Stanley cups have been around for ages but weren’t selling as well as the manufacturer had hoped they would. Originally, the company’s target market for these large, on-the-go cups were campers and outdoor enthusiasts, but sales in that sector weren’t showing much growth. When the company changed their strategy and began affiliate marketing on social media – in other words, engaged influencers to use and review the cups and feature them in posts – there was a shift.

As if by magic, the insulated travel tumblers began flying off the shelves. They were suddenly the trendy must-have accessory to provide hydration for Millennials and Gen-Z during hikes, yoga, gym and other healthy pursuits. Something similar happened to Crocs, which were once dismissed by many as ‘ugly’ – until social media influencers began customising them as fun fashion statements for kids and adults alike.

These examples are a reminder that if your product isn’t selling, the problem may be your marketing strategy, not the product itself. If you’re struggling to build your brand recognition or get an edge on the market to boost your business, learn how to harness the power of social media marketing.

Which social media platforms are most popular?

Many small businesses have developed marketing strategies on the most popular platforms, including Facebook, Instagram, LinkedIn and X (previously Twitter) over the years, along with YouTube, WhatsApp, WeChat and Facebook Messenger. It also pays to keep an eye on current TikTok news updates. Meta has launched its own version of X called Threads, and linked to Instagram, but it hasn’t attracted enough users to become a popular marketing option yet.

Effective marketing tactics on social media

• Influencer marketing
  Influencers have worked to build a community that trusts and values their opinions. When they endorse a product, their followers feel like they’re getting a reliable recommendation from a friend, rather than an advertising pitch. Find influencers who resonate with your brand and speak to your target audience and approach them about collaborating.
  
  Collaboration could be anything from offering them free products or services in return for an honest review on their platform to paid advertising, or affiliate codes that give influencers a commission on each sale made using their code or affiliate link. Getting influencers to recommend your products at a discount to their followers can be especially effective, resulting in increased traffic for both the influencer and your business.
  
  
• Personal customer engagement
  Online shopping has many advantages, but customers shouldn’t have to choose between convenience and the personal human connection of in-store shopping. Social media can help bridge that gap. You can engage with customers in real time with live streams, getting to know each other.  
  
  You can find out what they like, what they want to see more of in the future, and provide a more personal brand experience overall. Make sure that you respond to private messages and comments from customers regularly. Ask customers to tag your business and provide honest feedback in their unboxing videos or while using your products.
  
  
• Consistent, authentic content
  Consistency is key. Create regular, engaging content and keep up with social media trends to use as hashtags or keywords in your posts. The app algorithm should respond to these behaviours by showing your content to more people who are interested in what you’re selling. Your content should be informative and encourage readers to respond with their own experience and opinions, to get people engaging and sharing.
  
  
• Set up social media shops
  You can use social platforms to sell your products directly. You can set up a shop on Facebook, Instagram, and TikTok. Customers can then buy directly from your social media pages.  

Tools to help with social media marketing for small businesses

You’ll need to do more than just post an update every day to make the most of social media in your business marketing. There are some multifunctional tools that can streamline the process and help you market your business more effectively:

• Analytic tools
  Analytic tools evaluate how well your social media posts and marketing strategies are working. Find an app that lets you track engagement across all your social platforms with a user-friendly interface.
  
  With this data you can make decisions based on concrete evidence rather than guesswork. You can zone in on your target audience and monitor your reach and customer loyalty across platforms. Each social media platform will have its own built-in analytics suite, but Hootsuite, Google Analytics, Mailchimp and HubSpot are also options.
  
  
• Scheduling apps
  Consistency and a steady flow of posts and updates is key to keeping your followers interested on social media. But you can’t stay on your chosen platforms 24/7 – this is where scheduling apps can help.
  
  You can prepare a batch of posts and schedule them to go live at specific times. You can use the analytic data to work out when your audience is most active and schedule your posts accordingly. Meta Business Suite is an option you can use for all Meta platforms, and Tweetdeck is popular for X.
  
  
• Editing software
  You’ll also need some form of editing software to create post templates, edit videos and design promotional adverts, if you want your content to look professional. Well-edited posts help you create a consistent brand image across your social media channels.
  
  Create eye-catching posts that tell compelling stories to improve sales. Canva and Adobe are widely used editing software options. You may need to spend some time learning how to use these tools properly, but with some practice you can achieve results that look as if you hired a professional to create your photos and videos.
  
  
• Social listening tools
  These tools ‘listen’ to what your customers are saying about your brand – not by spying on their conversations, but by tracking online mentions of your brand. This enables you to address complaints, compliments and fake news quickly. Although bad reviews are inevitable, you’ll want to respond to them and resolve customer complaints as soon as possible.
  
  Listening tools also alert you to complaints about a specific product that start to become a trend. You should always welcome constructive criticism, because it can point out changes that you need to make to grow your business. If a complaint is unfair, it may be the result of misinformation, so when your listening tools bring any to your attention, correct the fake news immediately. Brandwatch and Hootsuite both offer listening tools to help you monitor your brand.
  
  

Social media marketing is an investment. You may be hesitant to pay for tools and social ads, but if you work with a budget and a careful strategy, the payoff should be worth it. It takes consistency, research, and most importantly, listening to your customers.

If you need business finance to get your social media marketing strategy up and running, or any other business support, contact Nedbank’s small-business experts today.