According to The Accountancy Partnership’s report “The Boom or Bust: Beginning a business in a pandemic,” more than 361,768 new businesses were started on social media equivalent to 991 start-ups per day during the pandemic.
This is an incredible number which clearly shows how powerful social media can be for entrepreneurs who want to create their own companies and make it successful.
It’s no surprise that so many people are using these platforms to get their business ideas off the ground with minimal effort and expense.
With easy access to customers on multiple channels, plus helpful plugins like Facebook Ads Manager and Google Adwords, anyone can leverage these platforms for maximum impact when advertising any kind of product or service they have created.
In addition, thanks to advanced analytics tools available on each platform, you have the ability to measure successes more accurately than ever before – allowing you to gain valuable insights into consumer behavior that previously would not have been possible without spending large amounts of money on traditional marketing methods such as billboards or print ads.
Social Media also helps businesses stay agile by quickly responding to customer feedback or enquiries – something that is integral for success in this day and age where customer service is king!
Overall social media can act as an excellent foundation for startups due its low cost of entry compared with other marketing solutions available along with unparalleled access to potential customers from all over the world.
It’s clear that it won’t just be around during this crisis but well into the future too – making it an essential tool needed by any newcomer entrepreneur wishing to take advantage of associated opportunities while making sure operational costs remain at manageable levels.