If you run a small business and you’ve only been open for a year or two, it’s likely that you’re still not profitable. This isn’t something unexpected or new; a lot of businesses don’t turn profitable for the first five years of their operation, just because of the way that businesses need to grow, and the fact that growth also requires time, among other things.
Having said that, you need to at least be moving toward profitability. You cannot be running a business and having the same sales this year as you did last year (especially if we’re talking about a small business) and still survive. You need to be moving toward being able to pay off the money that you owe from opening your business. Likely, that’s going to be a sizable chunk of change, so to speak, unless you’re one of the lucky few who open a business without having to take out any debt at all.
For example, you’re going to need a premises out of which to operate your business. You may need to build your own, if you have specific needs in order to be able to do whatever it is you plan to do, but even if you don’t have to build your own, you will need to rent or buy a place to work from. Then you need to equip it with the tools you’ll need for your business. If you’re going to be selling something, this just means you need space to display your product(s) and a cash register or two. If you’re going to be doing metalwork and fabrication, especially if you’re going to do so on a large-scale, you’re going to be buying extremely expensive industrial-grade machining machines as well as safety gear (and you’ll probably need a warehouse, instead of a storefront). If you’re going to be brewing beer, you’ll need a series of tuns, and likely a canning system, or at least a bottling system, and that can be expensive as well. This is just a sample of the things you’ll be spending tens of thousands of dollars on, and it doesn’t even get into the cost of purchasing supplies (and the cost of repurchasing supplies if you’re buying perishable goods) or of hiring people. Obviously, you need to quickly market yourself in order to offset the losses that you’re taking in opening your business (one-time losses are still losses).
A social media marketing agency can help you to do just that. You’ll need to hire someone to help you with getting the word out about your company, for most businesses. And for most businesses, you’re not going to have a marketing or advertising whiz kid on hand at all, to say nothing of the fact that you don’t have a team of marketing and advertising employees that you’re likely to need to effectively tap into the markets you’re going to want access to. Because of this, you will need to hire in the expertise that you need.
Hiring a social media marketing firm is well worth the money you’re going to have to spend in order to do so. They’ll be able to help you to use the social media networks in order to get the message out about what it is that you have to offer to the world. It’s a great way to do so, too, because unlike other methods, social media networking costs somewhere between nothing and a few cents per person you reach out to.
On the other hand, you could use more classical methods of getting word to the masses about your business, but you’re not likely to have the budget on hand for the media buys that you’d need to have in order to use television, radio, or printed media to reach them. Nevermind that once you have bought the ad space, you have to spend money on actually crafting and advertisement, which, for television in particular, can be very expensive, even if you have a public relations company helping you with crafting your commercials and with the purchase of ad space. To make a long story short, using social media networks to advertise is going to get you the most income for the least time and money spent, and that’s always a great thing for any business to pursue.
Therefore, if you’re looking to grow your business, consider hiring an outside firm to help you to do so. You’ll be glad you did when you have growth that you can be proud of, and when you’re well on your way to fiscal stability and paying off the debt you took on in order to open your doors.