Is The Social Media Market Overcrowded For Small Businesses?
These days, it’s hard to find anyone that doesn’t have some form of social media presence. The young are embracing it, the elderly are getting their heads around it, and business owners thrive off of it. It has gotten to a point where social media is now a basic necessity in many people’s lives. However, does this mean that it’s becoming less relevant from a marketing point of view? Sure, the big names conquer the market, but what about the little guys?
I’m here to tell you that the social media market isn’t detrimentally overcrowded. There are some key things you need to know if you want to achieve success with this platform, though, so read on.
Firstly, it’s important to understand that as a smaller business, you might struggle to achieve maximum success. The only way you’re going to make a name for yourself is by learning how to manipulate the market. Take a look at some of the biggest companies out there. A few years ago, their strategies were different to what they are today. Nowadays, it’s things like memes and tags that grab the attention of the customer. Back then, it was much more likely to entice consumers with buzzwords. The key to generating success via social media is to adapt with the times.
That doesn’t mean you can’t give yourself a leg-up, though. It’s very hard to get established in an overcrowded marketplace, so make it easier for yourself. Struggling to break Facebook and Twitter? Get Instagram views and send SnapChat messages as a priority. Seek to outsource if you’re struggling further, and brush up on your knowledge on a regular basis. Make sure you stay active with social media to save falling behind the competition.
Another thing you can do is be proactive and start seeking the next big thing in social media. Ten years ago, we were talking about MySpace and Bebo. Remember them? Then, Facebook and Twitter took off. It would be naive of us to think that the social media phenomenon will conclude with those two platforms. There will be a brand-new invention that takes the world by storm. If you can get in on the ground floor, you might just find yourself at a huge advantage.
Ultimately, it’s important to stay on the pulse of exactly what consumers want. Their needs are very different to what they were five years ago, and social media engagement has totally changed. This is why it’s important, as a business, to regularly converse with your customers. Find out what they’re looking for from a social media standpoint. Create surveys and questionnaires to obtain feedback. Crucially, use social media analytics to identify engagement patterns. This might all seem like a lot of work, but it’s crucial if you want to dominate in this area.
No, I don’t believe that the market is overcrowded for small businesses. However, the ever-growing trend has made us think more carefully about how we approach social media on an ongoing basis.