LETTERS: In the first few years of business, small companies will face many challenges.
The United States Bureau of Labour Statistics said about 20 per cent of small businesses fail in their first two years.
In Malaysia, 3.5 per cent of small- and medium-scale enterprises fail within two years and 54 per cent cease operations within four years.
Some factors that caused these are small businesses facing problems in attracting customers, coping with market competition and increasing brand awareness.
If customers are not aware of the brands, chances are they will not buy them.
Many brand managers say building an audience is more valuable than direct sales and because of this marketers' goal for running marketing campaigns is building brand awareness to elevate their brands.
Small businesses can elevate their brands by leveraging social media.
Firstly, they need to have a strategic approach to social media marketing, especially since they do not have the resources of bigger companies.
Creating interesting content can help businesses increase their reach and exposure as people share it with their followers.
Similarly, conducting competitor analysis is crucial to learn what works and what doesn't.
In addition, a community management approach can help businesses build long-term relationships with customers.
By using these strategies, small businesses can reach potential customers, increase brand awareness, and understand customers' behaviour and interests.
Airbnb uses Instagram to showcase unique and stunning properties to inspire travel, while Malaysia Airlines shares customers' experiences flying with the airline and behind-the-scenes glimpses of its company culture on Twitter.
GoPro features user-generated content on its social media pages and encourages followers to share their content using the hashtag #GoPro.
McDonald's Malaysia is known for trend-riding content on Facebook as well as cute illustrations on Instagram, but it achieved success too by tapping into what the young generation usually does on TikTok.
These brands have leveraged social media to increase brand visibility, engage with customers and build brand authenticity.
There is no one-size-fits-all answer to which social media platform is best for elevating a brand, as it depends on the goals and target audience of the business.
Each platform has its strengths, such as Facebook's large user base and targeted advertising capabilities, Instagram's visual appeal and influencer marketing potential, and LinkedIn's professional networking and B2B marketing opportunities.
TikTok can be used to increase brand exposure and reach a wider audience as it has more than 1.5 billion users.
Brands can use TikTok to create organic viral content, partner with influencers and advertise through different ad formats.
Brands can leverage social media to increase brand visibility, connect with target audiences, and drive sales and revenue.
It is important for businesses to research and evaluate each platform to determine which platform aligns with their brand's values, target audience and marketing strategy.
DR IMELDA ALBERT GISIP
Associate professor,
Faculty of Business and Management,
Universiti Teknologi Mara, Sabah
The views expressed in this article are the author's own and do not necessarily reflect those of the New Straits Times