Social media has innovatively defined the rapidity at which entrepreneurs can establish themselves in the business landscape, providing unprecedented opportunities to promote their endeavors and engage with customers in compelling and personal ways. There is ample data to support this notion, considering that over 70% of small businesses consider social media indispensable to their businesses. Social media is versatile and can be used in a plethora of ways to establish one’s brand. The one drawback on using social media is that it is accessible to all entrepreneurs and can therefore be very competitive. Entrepreneurs should utilize this tool effectively to gain a competitive advantage.

Here are two ways brands have used social media to gain a competitive advantage:

Community Building

Remember that social media isn’t just Instagram, LinkedIn, or Facebook. There are alternative social media options that are more optimal in terms of building a community. Discord is a communication platform that combines text, voice, and video communication in servers and channels, catering to a wide range of communities and interests, from gaming to education and beyond.

On Discord, brands can create different channels to discuss nuanced topics including upcoming product releases, design ideas, sell and trade servers, giveaways, and shipping updates. The creator of the server can personally reply and engage in these conversations to make consumers feel involved in the design and production process. Social media platforms such as Discord enable entrepreneurs to engage with customers in real time, fostering customer satisfaction.

Cost Effective Advertising, Content Marketing, and Influencer Collaborations

Entrepreneurs, especially those who are newcomers and have budget constraints, can turn to social media for cost effective advertising. Though it may be difficult/expensive to break through the algorithm and gain visibility on apps like Instagram, social media platforms such as TikTok offer a more interpersonal and user-friendly environment, making it more feasible to appear on people’s pages. TikTok is a social networking service where individuals can craft and distribute brief, music-accompanied video clips, showcasing a diverse array of creative and engaging expressions. Users of TikTok are shown drastically different videos with every scroll, allowing users to consume a variety of different information in a short amount of time, leaving ample space for content marketing. Sharing valuable content in the form of videos allows content marketers to position themselves as experts in their niche, thereby attracting and retaining customers.