How small businesses can survive the pandemic through social media
The Coronavirus pandemic has disrupted the global economy in unprecedented ways. Both large Fortune 500 companies and small businesses are feeling the effects of the crisis. However, it is becoming clear that small businesses are suffering the most and having a harder time to bounce back. Small businesses will need to make changes to their operations and strategy if they want to survive the pandemic. One way to do so is make use of social media and various online resources.
So with that in mind, we will be discussing how small businesses can survive the pandemic through capitalizing on social media.
Start By Protecting Your Business Assets
Before making any changes in your customer service and social media marketing strategies, it’s best to ensure that you have a business that is well protected to last unstable economic circumstances such as the pandemic. Attorney and CPA Mark J. Kohler shares that a fundamental strategy for asset protection begins with having the right business entity. ZenBusiness’s post on creating an LLC details how it protects the owners’ personal assets from business liabilities or debt. Having a small business that operates as a sole proprietorship is risky because it exposes the business to potential lawsuits and bankruptcy. Thus, to make sure that your small business survives the pandemic; you will need to start with protecting your company assets by having the right legal entity.
Strong Social Media Presence
More than half of the world uses social media, with the average social media user spending about two and a half hours on social networking sites and messaging applications every day. That being said, social media is a lifeline small businesses need to take advantage of especially now that people are social distancing. Firms need to start by regularly posting creative and engaging content on their various social media platforms. One social media strategy to set you apart is by interacting with your followers. Building online relationships through liking their posts, responding to their comments, and following back are simple steps to establish a bond between your business and your customers. Socializing with your followers moves the client relationship away from being one-sided to a more personal one.
Host Online Events and Live Streaming
Power Your Profits author Susie Carder advises small business owners to leverage social media through live streaming and online components. This is one way that businesses can connect with their clients online. This is especially useful for small business owners who are offering services such as consulting or tutorials. Hosting small-scale seminars on Zoom shows that you are able to adapt your business and your expertise from physical to virtual settings. A big part of a business’ survival is through networking as well. However, with large events being discouraged, one way to do this is through participating in online networking opportunities that allow you to give your brand exposure both to potential clients and potential investors.
A Refined Online Customer Service Experience
It is a well-known fact that customer service is a crucial part of the success of any business. Clients will be encouraged to buy from a business that prioritizes customer service. It’s also a way to reach more customers and increase revenue. How then do you translate good customer service in the virtual setting to suit the pandemic economy? In a previous Sociocs article we discussed how investing in social media messaging platforms are a good way to have solid online customer service. The first step to encouraging customer communication on social media starts with being active on these channels. Regular activity on Facebook’s Messenger platform for example displays an ‘active’ status. This will encourage customers to send your business a message because they know that they will hear from you soon. Customer service experiences such as these should not be overlooked in ensuring that your business stays afloat during the pandemic.