Connect with us

Politics

Social Media Management: Small Businesses Can Effectively Manage Time Online

Published

on

Calendar


An effective social media marketing campaign is imperative to any small business’s near and long-term success. Today, more than ever before, social media has become one of the most vital tools for communicating with consumer audiences.

For any small business owner and novice entrepreneur, effective social media management tools can be a key element to establishing their brand, attracting customers, and boosting sales.

However, today, things are more complex than they were several years ago. Social media management has become a full-time job, often requiring small business owners and entrepreneurs to dedicate not only the necessary resources to develop and deploy actionable social media campaigns but effectively managing their time to create and publish new content.

The cost of social media management

Investing in social media management can often be one of the best business decisions any owner or entrepreneur can make. Yet, employing the right person or team can drive up initial startup costs, and this can be a pain point for upcoming businesses that are not yet established enough to afford these services.

Several sources indicate that the average cost of social media advertising can range anywhere from $15 to $200 per day. Effective social media account management can cost companies an average of $12,500 per month. Keep in mind that this is still relatively small compared to larger firms and corporations that can spend anywhere up to $50,000 per month on their social media management.

Other costs that need to be calculated include content creation, $7,950 per month; platform management, $5,000 per month; and social advertising, which can cost an average of $5,000 per month. Some experts suggest that in general, small businesses need to allocate at least between $500 and $5,000 per month to social media management.

For any small business, these figures may be entirely outside of their financial position, especially during their startup phase. What’s more, business owners tend to overlook other important factors, such as effectively planning their social media campaigns, understanding their target audience, and leveraging available data.

While some small business owners and entrepreneurs may be able to manage these responsibilities themselves, as the business begins to scale and they are required to oversee other essential duties, managing their social media presence often takes a backseat, which can have long-term effects on their customer engagement and brand visibility.

Effective online time management

As a new business owner, you might already be overseeing several vital aspects of your business. This requires a detailed and thoroughly planned schedule to ensure you reach your targets and complete important projects before moving on to the next thing.

As part of your planning, allocating sufficient time to manage your social media and other online activities can help you better understand how social media campaigns work and which aspects of your social media strategy require further adjustment.

Instead of spending too much time online and not getting the results you are looking for, here’s a breakdown of considerations to keep in mind when planning your social media campaign and strategy.

Understand your social media presence

Building any business requires creating a brand easily recognized among potential competitors. Your brand, or brand voice, will be the physical representation of what your business provides and how you differentiate yourself within the marketplace.

Once you have a picture of what your brand might look like, you can determine how your social media strategy will align with your overarching goals. Allocating enough time to establish a brand voice before anything else will help drive the conversation about what you should include within your social media presence and how you will communicate this with your audience.

Develop key social media goals

The next step would be to think of specific social media goals you want to achieve within a given time frame. Your social media goals should align with the broader business strategy, such as building better customer engagement or gaining more online store visibility.

Using these metrics alongside one another can help you establish a forward-looking plan to ensure you achieve these goals effectively while adjusting as the campaign unfolds.

Let’s say, for example, you are looking to boost recognition for your online store. Using social media as a key marketing tool, you will need to consider the type of content you will need, such as videos or images, and on which platforms you will promote your store.

From here on out, you can begin to decipher how often you will need to post or publish new content. Depending on your available content, you can start to design a publishing strategy, such as posting every day for the next five days, until you’ve reached a specific viewer count or a specific number of engagements.

Understanding how both business goals and social media can align will help you develop a more thorough strategy that ensures you don’t waste time on posts or campaigns that don’t deliver the results you’re looking for.

Get to know your target audience

Another way to save a lot of time and valuable resources is to consider your target audience or the people you are trying to reach. Knowing where your customers are online will help ensure you meet them at every touch point most valuable to you and your business.

Knowing who your target audience may be will help you determine the type of content you need to create and how it will need to be displayed on social media. Remember that target audience research is one of the key components to building a successful social media and marketing strategy, which further ensures the near-term success of your business goals.

Remember to keep your target audience in mind when crafting new content; understanding the demographics, occasional challenges, and their interests will all be key elements of your strategy.

Consider the platform you want to use

Instead of spending countless hours trying to manage several different social media platforms, start small with a platform you are already familiar with.

Make sure to use a platform that can provide you with the key analytical and insight tools that will help you better understand how effective a campaign may be, and whether you need to make any changes along the way.

Next, consider being proactive on one platform at a time. Once you have gotten most of the intricacies under control, and have a firm understanding of how to properly engage with your target audience, begin developing a new strategy for a second or third platform.

Remember to keep your business in mind and how the social media platform you’re using will fit with the type of products and services you are offering to your potential target audience.

Automate specific activities

Customer engagement is now a twenty-four-seven responsibility and requires your attention around the clock. Unfortunately, this isn’t possible, and sometimes you forget to respond to a customer query or reply to a direct message.

While missing a few responses here and there won’t tarnish your business reputation, not having enough time to appropriately respond to everyone’s questions could leave you with more significant near-term problems.

There might be days when you don’t have the time to post new content or even share the news about a new product. On other days you might be out of the office or even under the weather, and who will handle all your responses and social media management?

Having the right automation tools can save a lot of time — and ensure your social media accounts remain active around the clock, even if you’re not around. Automation tools can respond to messages, help resolve customer queries, schedule posts, and automatically publish these on your social media accounts.

Take a bit of time to learn about all the current automation tools and how these can help alleviate your social media marketing — and further provide you with on-demand solutions.

Create a digital calendar

Another way to keep track of everything is to create a digital calendar. With a digital calendar for your social media, you can keep tabs on everything happening in your business. From having to order new merchandise to when delivery is expected, lining up important events, and even helping to better control your social media management.

With a digital calendar, you can sync different activities to ensure you stay on top of your game and never miss anything. You can include essential days or times you need to post on social media to ensure you get the best engagement.

You can even set reminders of when an older post can be reused after several weeks or months to constantly reduce the need to create new content. A digital calendar can help you keep track of which days of the week your content received higher engagement rates, and how you can adjust your strategy so that you only post on these days.

Instead of having one calendar that can become cramped and packed full of activities, you can now have a separate calendar specifically for social media. This helps to organize all your important events and dates and ensures you don’t miss any important events that might require your attention.

Allocate time to launch new campaigns

As part of your schedule, you must make sure you allocate enough time in your week to launch new social media campaigns. You’ll want to block off an hour or two of your day to make the necessary adjustments before launching your plan.

You will need to have enough time in your schedule for planning and execution. While this might not seem like the most important part of your day or business in general, you must spend quality time understanding how your plan works, your target audience, and the type of goals you are trying to achieve through these actions.

Schedule time for other marketing responsibilities

While social media may be an essential aspect of the overarching marketing plan, you must also schedule time to focus on other marketing efforts.

You will need to allocate days of the week or specific hours within your day to focus on marketing strategies such as building an email marketing list, crafting new newsletters, designing new campaigns, or calling prospective clients or suppliers.

While a lot of marketing may take place on social media, keep in mind that this isn’t the only form of digital marketing, and there are several other techniques you will need to take control over to ensure you have a foolproof marketing campaign that delivers the results and engagement you are looking for.

Why it’s important to manage your social media with a digital calendar

With the right tools and more importantly a digital calendar, you can effectively monitor your business’s online presence while at the same time developing new ways to increase customer engagement and boost brand recognition.

Other benefits of using a digital calendar to organize your social media duties include:

Effective time management

Instead of aimlessly spending time on social media or online, you can now use a digital calendar that will help you plan and organize everything you need to keep track of within one place.

Automation

Syncing your digital calendar with your social media accounts can help you automate several activities, such as posting, responding to customer queries, or creating notifications for when to publish new content.

Cost-effective

Using a digital calendar alongside your social media planning is a cost-effective method to ensure you get the necessary results and that you have increased engagement with your clients at all times without wasting precious time or resources online.

Staying Informed

Instead of being in the dark, you will be informed when new developments occur or you might need to adjust your social media strategy.

Final Words

Proper social media management is an effective marketing tool that any business requires to stand out against its competitors and create customer engagement with its target audience.

However, without the right tools, social media management can be an arduous task for any business owner, leading to long-term drawbacks and impacting the scalability of their business.

Using a calendar to help you keep track of your social media management strategy will help you create more engaging content and effectively use your time. With a digital calendar, you will be able to stay up to date about any changes. When you need to publish new content, most importantly, it will allow you to allocate the necessary time to properly plan and launch any new campaigns without sacrificing much of your daily schedule.

Published First on Calendar. Read Here.

Featured Image Credit: Photo by Andrew Neel; Pexels; Thank you!

Calendar

We are Calendar, trying to make the world a much more productive place. Check us out online at https://www.calendar.com.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

Published

on

Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

Continue Reading

Politics

Fortune 500’s race for generative AI breakthroughs

Published

on

Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Continue Reading

Politics

UK seizes web3 opportunity simplifying crypto regulations

Published

on

Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Continue Reading

Copyright © 2021 Seminole Press.