How Much Capital Do You Need to Start Your Company?
In the
past, to start your business off the ground you were required to provide a
significant sum of money either with your own funds, investors, or providing a
lengthy proposal to the bank. As time has progressed and the age of the
internet has flourished, you no longer are required to rely on extensive
funding for advertising campaigns. Website design is becoming increasingly
cheaper, and social media marketing campaigns have made it to where you can
advertise your business for very little cost. These advertisements are
generally directed right at your target audience, so you no longer have to
spend excessive funds advertising to anyone and everyone just for the chance at
a potential sales lead.
Social Media is not Just for Socializing Anymore
Relying on social media is a cost effective way to advertise and still generate a high Return On Investment (ROI). A variety of businesses are starting to learn the importance of relying on social media to advertise their companies. Facebook and Twitter are two of the most visited sites on the internet today, next to Google. The method is cost effective and will reach out to everyone who is already interested in your company. In addition, these followers will likely promote your advertising to family and friends through various "likes" on Facebook or "retweets" on Twitter.
Social Media Advertising vs. Other Advertising Campaigns
Traditionally, a person who was starting out their business and did not have an already established client base would have to rely on other advertising campaigns to get their message out. This could be through television, internet ad space, billboards, or placing various ads through the paper. For each of these methods, it could cost a small fortune to be able to reach out to your target audience and advertise for them. In a lot of these cases, the target audience may not even see the message you were trying to convey.
With social media advertising campaigns, you will be able to direct your ads to specific groups who have an interest in what your company has to offer. As an example, SeaWorld had the opening of their new roller coaster in California and, while they have the funds to advertise through any method, they were able to target their ad to roller coaster enthusiasts around the world. This method generated nearly $60 for every $1 that was spent on their social media campaign. They could have advertised on their website or through various marketing avenues, but would probably not have had the global outreach that they did through advertising on social media.
The Future
As the internet progresses, companies will find that their target audience members are spending more time looking online. Chances are, your target audience is already there and waiting for a company like yours to promote as their new favorite business. The cost effective method of social media advertising is making it easier for every business, regardless of how long they have been established, to make substantial profits without spending a fortune on reaching out to new clients.
Author Bio:Jack Harding has been researching the impact of social media on the current business economy. He enjoys following the latest advancements in the field and reporting his findings on various marketing blogs. Visit Wish.co.uk to discover how they utilize social media to their advantage.
