3 Reasons Why Entrepreneurs Should Be On Social Media
The business landscape is constantly evolving. One thing for sure, however, is that the need for a business to have a strong online presence is only going to continue to grow. Entrepreneurs should be active on social media for a number of reasons, ranging from market intelligence to online reputation. This doesn’t necessarily mean being active on large channels such as Facebook and Twitter – there are many niche channels available too. If you’re an entrepreneur and not convinced that you should be actively seeking social media opportunities, see below.
1. It’s fantastic for research purposes
As an entrepreneur, staying cutting-edge and up-to-date with new ideas is essential. Social media provides a wonderful platform for market research, including platforms which allow you to learn what competitors are doing within their businesses. Entrepreneurs should be on social media for this very reason, as this research allows you to learn more about your competitors, as well as seeing what key influencers are doing. It prompts you to consider your business’ practices, as well as learning other ways to engage with your audience. In addition, it is a way to monitor leads and potential business prospects.
2. You can build your online reputation and network
In a world where the internet is at our fingertips, online reputation has never been more important. In general, social media in a business context helps to contribute to positive online reputation as it builds trust in a brand. For entrepreneurs, building your personal reputation is often just as important as your business’ reputation. If you’re looking for investors, they want to know that you already have a following behind you, or that you are already well respected. Through social media, entrepreneurs can build their personal profiles by contributing meaningful content on a particular platform, and aspiring to become a thought leader in a specific area. They can also network with key people to grow not only a following, but also a valued place in the online business sphere.
3. There are some fantastic tools for entrepreneurs
When we refer to social media channels, we are not only talking about big names such as Facebook, Twitter or Instagram. There are a number of channels that entrepreneurs should be on social media for, including Upspring, Startup Nation and LinkedIn. LinkedIn is used by millions around the world and currently there is nothing else quite like it or on its scale. Upspring is similar in the fact that it is a place to connect, ask questions, give answers and learn from a highly informative business community. Startup Nation focuses more on the content side of social networking with a range of information in the form of articles, forums, blogs, seminars and webinars, “by entrepreneurs, for entrepreneurs”.
What do you think?
Can you suggest any other reasons why entrepreneurs should be on social media? There is a whole wealth of information and opportunity which exists if you harness the platforms’ potential. I’d love to hear what you think – comment below to share your views.
This article was written by Laura Hutton on behalf of the Australian Institute of Business. All opinions are that of the writer and do not necessarily reflect the opinion of AIB.