There are a lot of pawn shops out there, but very few are currently capitalizing on the benefits of social media marketing. Does this need to change? With more of the Web-savvy middle class turning to pawn shops for quick cash loans, shouldn’t more pawn businesses be capitalizing on social media and making their businesses known to a wider audience?
If you’ve been hesitant to leap into social media, now might be the time to jump. Here are a few tips to making social media work for your pawn business:
- Use social media to shape the online image of your business. Attract customers simply by posting photographs of things like your employees having a good time at work, unique or valuable merchandise, or your shop’s holiday displays. There’s a value to making Facebook and Twitter users feel like they know you. By giving potential and current customers an idea of what they can expect, you can create a sense of familiarity that makes them feel welcome and at ease between visits or even before they ever set foot in your shop.
- Use your social media networks to create buzz. One way to build a following is to make social media users who connect with your business feel like they are in the know by posting messages about last-minute sales or daily deals, or even by hosting online raffles that could help drive traffic to your shop. If your messages are enticing, they will be shared and you will increase your chances of gaining a significant online following that translates into an increase in actual customers.
- Cater to your target markets. If your pawn shop is near a university or college that has a large music program, post pictures of new instruments as they make it onto the floor. Even doing something like posting an image of the local high school’s mascot and including a message like, “Go Eagles!” can go a long way. If your shop is near a hospital, post messages that let people know that you’re hospital-adjacent and have certain specialty medical supplies or equipment in stock. Make the most of your location and cater to the people most likely to be interested in the items you have available. You can mention that you provide loans and other services from time to time, too, but keep in mind that pictures of sale items are typically a lot more interesting to the online community than information on loans and services.
- Interact with your online community. If someone asks something online like, “Hey, do you guys have an antenna TV converter box?” and you don’t have one, you still have an opportunity to make a connection, suggest options, and tell the world about what you do have in stock. To be successful at social networking, you have to keep up with online questions and comments. Always respond when someone posts on your page, even if it’s just by clicking a “Like” button. Be sure to post comments on other social media users’ pages as well.
Unlike costly print, radio, or other forms of advertising, marketing through social media is free and has the potential to reach an unlimited number of online users. If social media marketing is free, easy to do, takes up very little time, and can greatly increase the visibility of your pawn business, what do you have to lose by doing it?
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