Friday, October 2, 2015

Social media markets

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     New markets are springing up for your products and services. Much of this market explosion is driven by social media. 

     Time was, the reach of your small business was local. You were limited to the geographical area you served.

     All that has changed for many small businesses. Social media is upon us, and you can reach a much bigger market. It's not just the local area but far beyond.

     Of course, much depends on the business you run. Hot pizzas get cold with distant deliveries, and hot stone massages depend on local clients. But many products and services can be delivered long distance.

     Example: Greg established a pet supply store in his town. His operation attracted attention, and his business is growing. He decided to tap into the market trend for fresh meat foods for dogs and cats. He promoted on social media, driving customers to his website. Orders came from the local area as well as from more distant places. Greg now ships fresh meat foods to customers far and near, and he has added expensive pet products to his offerings. He is tapping into the higher end market that is ignored or lost in the offerings by big pet product companies.

     Example: Rick operates a vehicle accessories store that serves a wide, but local, market. He carries hundreds of products, including mats, parts, finishes, and other items. To attract more customers, Rick revised his website and posts regularly on social media. Today, he ships orders coming from far and near.

      Example: Ella sells brownies--nothing else. She is not a baker, and she does not operate a bakery. She runs her business by arranging contract baking. She fills orders that arrive on her website. And she ships brownies every day via UPS and Fedex. Social media posts three times each week keep the orders coming in and the word going around. 

     Example: Dwayne is a CPA. He specializes in small business tax problems, accounting, and financial matters. He expanded his operation by offering webinars and training videos. These are sold over the net from his website. How to use QuickBooks and TurboTax are popular. This has led to Dwayne's expansion beyond the local area. Medium size businesses now fly him to their location to give seminars.

     Products and services can be sold long distance. Social media can reach out and bring clients and customers not reachable before.

     Expanding a small business is difficult. But social media today offers many opportunities to reach markets far beyond your local area. 

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