Entrepreneurs and marketers have to be constantly in touch with people to know the upcoming trends in the market and the state of mind of the commoner, and this ensures that they earn millions of dollars every year. Entrepreneurs need to have excellent social skills. Today the equation of marketing has changed with the advent of social media along with changing social settings. Marketing has shifted from TV and newspapers to social media. This is the new age of ‘digital marketing, and to be up to date with it, you can consider using 4Hub. Today around 2.5 billion people use social media platforms. Hence today, social media proves to be an excellent tool for entrepreneurs. Last year, around $27 billion were spent on Facebook ads. This explains the power of social media and the importance of social media marketing. We will now see certain steps to make the best use of social media as an entrepreneur:

1. E-commerce business promotion by lookalike ads

Look-alike ads are a new feature by Facebook which helps entrepreneurs to identify the target audience and then provide recommendations for similar products like they had bought at the time of the first transaction. There is a low cost for every such ad creation, but it can be of tremendous help to entrepreneurs. The attractive and compelling ads along with ‘More such products’ recommendations can help in significantly increasing the sales and increasing the customers of the e-commerce company.

2. Social media influencer marketing consultancy

In today’s world, many marketers rely on social media influencers to market products. It is a common rule of social psychology that if a product is used or endorsed by an influencer, a celebrity, or a popular personality, people are more likely to buy and use it. Today social media sites cannot interact directly with the common people. The proportion of ads has also decreased due to the strong ad-blocker software. In such a situation, influencers are a great asset as they can interact with the common people more easily as the people revere them. A consultancy can be started to help the brands to identify the right kind of influencers and to identify if the influencers are doing their job rightly. If you start this consultancy, it would be a good option to earn money through social media.

3. Have a look at the target audience

Researching your target audience is extremely necessary before starting any business. This will help you filter out the unnecessary customers who are not going to use your product. E.g., If you are selling a fitness product, then your prime focus should be on the youth, especially those who go to the gym. You won’t focus on the babies and the toddlers for whom the fitness product has no utility at all. For this purpose, firstly, look at your contacts on social media. Let us take the above example; if one of your social media acquaintances is a fitness enthusiast, you can recommend your fitness product to that friend. If the friend then it would be recommended in his circles and slowly the popularity of your product can sky-rocket. Another way is to look into Facebook groups for your audience. In this case, look for a group of fitness enthusiasts to promote your product. Key things to watch out for are communication of people, their problems, and the kind of posts that are most circulated there. Another part is knowing about your competitors through Facebook, Instagram, and especially LinkedIn Pages. This would give a clearer idea of the market and the ways to turn the tide your way.

4. Use the right social media platform for your business

The social media platform which will be used by you should be suitable for your business. The best content should be produced, and it should be marketed through the best suitable platform for the start-ups. Now the type of content includes:

·     Blogs/ Written content

·     Photos

·     Videos

·     Podcasts

·     Polls and quizzes

·     E-books

·     Infographics

All the content cannot be used together by any entrepreneur or business. The content is in line with the content most consumed by their customers. The SWOT analysis of the company should be done before choosing the content medium. E.g., If the content is in the form of videos and audios, then it would hard to popularize it on blog spots. Similarly, blogs would not be popular on Instagram. The medium of content should always depend on our consumers. If the consumer group has a lot of youth, then the marketing would be successful on Instagram. But, if the consumer base is a professional, it would be better to promote the business on LinkedIn or Twitter.

5. Continuous content creation on Social Media

The next step, after identifying the consumer base and selecting the right platform for the start-up, is now necessary to create content. This is a tedious task where many of the start-ups fail mostly by setting unrealistic expectations and goals. The best step to create content is through videos. Video blogs or Vlogs are quite popular these days. Photos and videos are quite good for creating good content. The next step is creating a schedule for your content which is known as batching. We should create certain content with the already available material or new material on a specific day and then post it for a whole week. 

Conclusion

Business on social media requires patience, adequate information, and smartness. With these three ingredients, the business can reach new heights through the propeller of social media.