3 Tips To Win Big On Social Media With A Small Budget
Working at a social media analytics company for the last two years and working with both large and small brands, there are a few tricks I’ve learned that help the “little guy” get big returns on social media with a small budget.
1 – Leverage Influencers
According to a 2016 Nielsen Harris Poll, 80% of Americans seek recommendations before making a purchase. In the world of social media, influencers drive these recommendations. Specifically, micro-influencers with audience sizes at 30,000 or smaller garner 60% more engagement than power-influencers. This is great news for smaller brands.
Cost: Micro-influencers will partner with brands at lower price points and may even be open to an exchange of services or products.
Use Case: A small ski resort in Canada. The one-man marketing department started tracking the conversations around the resort and its competitors. When he identified his and his competitor’s brand advocates he invited them to the resort for a day of skiing. He would have lunch with them to build their relationship and forge a social media partnership. Since implementing this program he and his influencers have tripled the social conversation around his brand and has matched the social reach of the ski resort “giant” in Canada that has 7 resorts and a large marketing team.
2 – Join the Conversation
There is a great big world out there in social media. Tracking relevant topics will help you find people, influencers, and conversations to engage with. Use this space to participate in conversations, re-share relevant content and find new people to follow. This will establish your brand as trustworthy and an authority on the topic. As a result, you will organically build a targeted audience. Save sales related content for posting on your profiles where people have chosen to follow you.
Cost: 10 – 15 minutes a day.
Use Case: A startup robotics company wanted to build their brand presence before they launched. They tracked the robot and robotics conversation on social media, joined in conversations, and followed industry influencers during their 9 month pre-launch. When they launched at CES 2017 they already had over 10k followers. There was so much buzz at the event around their brand they reached an audience size of over 8 million on social media. All of the connections they developed during pre-launch paid off at this event.
3 – Capitalize on Opportunity
Finding leads and sales conversions is top of mind for every company. In the social media space, this can be done at a fraction of the cost of paid ads by tracking and engaging with people that need your product or service.
Cost: 10 – 15 minutes a day.
Use Case: An Agency in California used NUVI to track conversations around people talking about their dogs who suffered from anxiety. By engaging with these people and directing them to helpful content on their client’s website, the agency tracked the activity of this new traffic. After one month using this strategy, the agency provided over $6,000 in new revenue for their client.
Small businesses with a limited marketing budget can gain big wins in social media.
- Develop relationships with influencers.
- Participate in conversations related to your industry on social media.
- Directly engage with people on social media that are posting about a problem that your product or service will solve.