Jan.05Social Media Intelligence Feedback Loop Japanese Store Crowdbabble Analytics Small Business

Over the last two weeks, we’ve been going over the Social Intelligence Feedback Loop for Small Businesses where we went over social listening, social posting and social analytics as part of a 3 step loop to help small business owners improve their social media reach, both to improve their brand and potential sales growth.

Going back to our bakery example, as small business owners, we want to ensure that our business grows steadily. With social media, we can improve our growth trajectory by engaging with users. The question is where do we start? This is where our social media feedback intelligence loop comes in: social listening, posting and analytics.

Our bakery can set up a social listening channel to find out where are potential customers are discussing baked goods online, or maybe have mentioned our bakery after they bought a cupcake or we might discover local interests to anchor our bakery too.

From there we can strategize what sort of content we can post based on our findings. For example, let’s say we noticed from listening that the town’s local school is having a bake sale, we can schedule content to be posted about baking tips to help children make cupcakes. Services like Buffer allow you schedule social media posts so it can be posted while you are busy mixing up dough.

After all the content is posted, we can use Crowdbabble to analyze social media content of our accounts and what competing bakeries are also doing. We can tweak our content with the type or time of day to get the most engagement in order to grow our online presence and potential sales. Analyzing social content may take a while and many tries to figure out , but soon it might be the best way to improve your small business’ online presence. The goal here is to experiment as much as you can with data as an aid.

We would then repeat the loop to listen, post and analyze posts for our bakery’s social. Remember, keep repeating the loop because growth is a nonstop venture for any small business.

The Social Media Small Business Stack
Based on the recommendations over the last week, we outlined a general framework for the prices a small business might pay to invest into a social media feedback intelligence loop.

Social Listening
Mention $30/month (small business plan)

Social Posting
Buffer $50/month
Hootsuite Free

Social Analytics
Crowdbabble $50 a month

In total, you can spend $130 a month or about $4.50 a day, which is cheaper than a famous vanilla bean latte at Starbucks. This will allow you to experiment, analyze track and manage all your social media!

You don’t need to spend a lot to improve your social media reach but even with that small cost, it can dramatically transform your social media reach. At the same time, it forces you to learn more about social media so when it comes time to hiring a social media manager, you know what to look for.

If you are a small business owner stating out, it might be difficult to manage hiring additional support staff that is separate form your business operations. This might be especially difficult in the beginning where resources are limited but  necessary when you need to grow. Of course it would be better to hire a firm or a dedicated individual, but desperate times call for desperate measures and you have to bootstrap. Our social media feedback intelligence loop tech stack should meet all your needs for growing and engaging your followers.

Final Thoughts
Small business owners MUST use social media to their advantage as a social media becomes more important as a marketing domain. While some of the old tactics work, social media has allowed for more growth and instant recognition for small business owners to seize.

A small business in a tiny town can become a huge corporation overnight when they make strategic choices about their social media marketing. It’s happened more times than you think, in the past it was just luck, but now social media has levelled the playing field to allow for businesses to flourish and reach new audiences faster than ever before.

The key factor to success on social media for businesses is constantly experimenting and trying new things. Don’t be discouraged by not getting the result you want; stay true and try again. Remember….

“I have not failed. I’ve just found 10,000 ways that won’t work” – Thomas A. Edison

Happy Analyzing!