Social Media Equals The Playing Field

In the past, big name companies with big budgets have always had the unfair advantage over the smaller, mom and pop businesses in more way than one. Giants like Microsoft, Nike, and Virgin Records have dominated their industries for years and have budgets that a small business can only dream of.   With the increase in popularity of social media, the playing field has been evened when it comes to reaching the customer.  You no longer need a 7 or 8 figure marketing budget, let alone a 6 figure one to compete.  With the right knowledge, skills and commitment, small businesses can utilize social media to dream and earn big.

For example, Frankie the hot dog vendor dreams of being the owner of his own business. He wants to establish a global brand by starting his own Hot Dog Stand chain, but he doesn’t have the capital to market himself like his larger competitors.  Is it possible for the small to compete with the big?

Social media makes this possible. From a marketing perspective, it’s a favorable time to be a start-up business and establish a brand. The vast world of social media makes it more cost-effective to spread your marketing efforts across multiple channels than focusing on out-dated, traditional marketing tactics. Social media platforms have given brands the ability to derive information from the consumer, which opens up the possibilities for targeted,online marketing strategies.  These strategies stretch your dollar further than traditional advertising, provide invaluable analytics, and can greatly increase ROI.

Budget is no longer the deciding factor of who can compete.  Smaller brands can utilize social media to increase their scope and target their exact consumer base at little or even no cost.  The trick is figuring out which outlets to use to find and interact with that perfect customer.

Today, finding the consumer means creating relative and appealing content. Create content that allows people to see your skills and expertise in your field. Once you release your content, analysis is key.  Listen to feedback and use that to tailor your content to further attract and engage your target.  Another tactic to engage your target is to create a portal for user-generated content.  Let the users show you what they want and utilize this information for R&D.  In this social media ecosystem, content producers and users work in synergy to complement each other.

There are many small companies that have yet to harness the potential of social media platforms to propel their business. Social media and PR agencies have emerged as catalysts to bolster brands, but there are few that effectively combine social media, live promotion and traditional PR to spark a great campaign for your brand. At Cross Coast Interactive, we believe that being a start-up business shouldn’t hinder you from thinking and earning big. We utilize social media platforms, PR, and live promotion to establish a strong brand while sustaining the values of a successful business.

Tags: digital marketing, interactive marketing, Microsoft, Nike, social media, Social Media Marketing, Start-up Business, Virgin Records

This entry was posted on Friday, May 21st, 2010 at 6:57 pm and is filed under Platforms, digital marketing, social media. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.