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Social Media Marketing Mistakes You Should Avoid Doing

Let’s say your start-up in Singapore is already doing good. So you decide to start social media marketing to reach more people. You jump right into it but later you notice that your audience has still not increased. Just like in many other aspects of business, you might be making some slight mistakes that are costing you. Here might be some of them.

Having no strategy

If you think that social media marketing is just as easy as posting on your personal accounts, that’s completely wrong. Companies that don’t establish a strategy will not have any social media presence at all. Especially because so many other businesses are using social media platforms already. One great start is to hire a social media manager who knows how to disseminate information with a mix of humor and professionalism. Then you can just build up your strategies from that.

Having too much to handle

When strategies are not employed, companies also make the mistake of creating accounts on too many platforms at once. Why is this a bad thing exactly? Well, if you don’t have a plan, you’ll have difficulty coming up with new content. This is why you see a lot of websites or social media pages where the last posts were done years ago. Basically, these pages have been abandoned! So, don’t go creating too much and keep your focus narrow at the start. That way, you’ll have a better foundation before you branch out to other platforms.

Not engaging with the audience

Of course, it’s called “social” media for a reason. In social media marketing, you should definitely avoid posting something and just leaving it at that. If people start commenting, try to engage with them as much as possible. Give them additional info, answer their questions, you can even message them in private if needed! Remember that your goal with social media marketing is to get your brand known to more and more people. But you don’t want to be a remembered negatively by not engaging with your audience at all!

Not tracking analytics

Another thing you should be taking full advantage of is analytics. Most social media platforms offer analytics which show your audience engagement, how many new followers you have, which posts gained more attention and etc. Being able to track such data is very important if you want to know where your focus should be. It will also help you know which aspects need improvement. All in all, this will help you save a significant amount of time, money, and effort!

Having bad responses to negative comments

Lastly, one mistake you should never make is to respond unprofessionally to negative comments. Negative feedback will always be there on social media. But you should definitely not delete or ignore them (unless, of course, if they don’t make sense at all). On the other hand, having a good response to a negative comment can earn you more loyal customers.

When Should You Sell Your Business?

To sell business in Singapore or in other places is one of the hardest decisions an entrepreneur can make. It’s hard to sell business if the company had earned good numbers of assets than liabilities. To sell business in places such as Singapore or in other places would create confusion on the owner if it’s an abrupt decision.


Preparing to Sell Your Business

A business owner should consider a lot of things before he can sell business. He must undergo a lot of investigations and verification of records before he sell business. This is usually done if the business is operating in progressive countries like Singapore, China or in some other urban countries of large market base. In Singapore, to buy business is easier with the aid of printed advertisements.

Corporations vs. Small Businesses

Large corporations buy Singapore business to achieve monopoly. For them, to buy business means lowering down the rate of competition. The owner should check the financial documents of the business. The financial statements would include the balance sheets, profit documents, financial records and other statements of the business. Checking the general status of the Singapore company that can be done by eton sell business in Singapore will give you the owner an overview if the company is earning or in the verge of bankruptcy. The verification will also measure if the owner can have the capability to cope up with the risks in the company associated with the variations in sales rate and other crucial factors.

Assessing Business Value

In the balance sheet of the business, you may verify the long term liability, the cost of capital, short term liability and the rate given by the debtors. If the rate of liability is very large than the rate of assets, you need to give up your business. If the number is not so high, then you can create alternative options to generate sales and increase the assets of the business.

Gathering All Available Information

For alternative options, you may create a brainstorming session with your key employees. The company employees may give you a greater knowledge on the Singapore company operations. They can give you good suggestions that you can implement in the company. For alternative options, you may also do a survey among the customers. The survey will give you feedbacks that will give you a good evaluation to decide if the business will still continue or not. You can also verify the funds of your business.


When It’s Time to Sell Your Business

If you think that the Singapore business cannot cope up with its debt or equity financing, selling it would be the only option left. Selling the business would be easier if you have a wide array of other lucrative opportunities. You can explore other companies and investments that will give you higher profit. You can also try to check other industries to invest. Through trainings, seminars and workshops with a new industry, you can create a new business.

Recycling Profits and Starting New

You can create the new business from the profit of selling your old business. However, it would be a good suggestion if you would consider saving the old business using your new business. Who knows, you might be able to operate the two businesses together in the long run. You can actually give certain duration to check if the old and the new business can be both become profitable.