The era of technology–also known as the Information Age which began in the late 20th century–has brought us the creation of multiple social media platforms. Social media has ignited several conversations from its great use to its controversial spread of information. Depending on how and what you use it for, and how old you are, you will stand on one side of the discussion. Whichever side you stand by, we can all agree it has affected our lives one way or another. Small businesses can attest to that.
What is a Small Business?
Many different individuals and brands have taken to social media apps such as Facebook, Twitter, and Instagram to promote themselves. Small businesses are among those who share their products online. But what exactly makes a small business? The American Society for Quality defines them “as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.”
Different industries have certain requirements they must meet in order to remain a small business. in manufacturing and mining there must be less than 500 employees, while the retail annual revenue cannot exceed the $6 million. Thanks to the access we now have to the internet more and more millennials are becoming entrepreneurs and creating online small businesses to sell their products. They have found ways to generate an income out of their creativity and talent.
Small Businesses and Social Media
Social media has a great outreach, connecting thousands of users all over the world. We have seen it become an amazing tool for marketing with the use of Facebook ads. Many companies have tapped into this to redirect customers to their websites.
A large number of Twitter users has been using this platform to promote their businesses. Due to the COVID-19 pandemic and the loss of jobs, these people started sharing their designs and creations in order to generate a more stable income. Like this, social media became a huge marketplace for small businesses to sell their products and find customers in a variety of countries.
Three types of tweets became particularly popular for people to share their work or connect with others offering the service they needed:
- Small businesses thread: several accounts–some of them businessowners–started threads for other users to share their work. This helps redirect their followers to small businesses that sell their homemade, eco-friendly products.
- A call to creators: many users started tweeting when they needed to purchase specific products or hire creators for their own businesses. This has allowed small businesses and entrepreneurs to connect with consumers directly without hiring third parties that take a percentage off their sales.
- $0 to retweet: small businesses have recently started the “it takes $0 to rt my small business” trend. By encouraging their followers to retweet them, word spreads faster about their product.
Social Media’s Positive Impact
Although many may point out social media’s negative connotations, it also has a positive side. Young startups, amateur entrepreneurs, and small businesses have been able to take advantage of these platforms to grow their audience. A simple post can now reach thousands of people, redirecting them to the business’s website. This digital globalization has allowed creators to generate an income out of their talent and their passions while doing what they love most.