When just starting out, small business owners often do not have a large cache of funds to work with. At this point, money is better spent on crucial purchases, such as utilities, accounting software and hiring. One necessity that leaders could save money on is advertising - many companies with a smaller workforce can market for a small price or for free.

Social media can be invaluable to expose a business to a new potential customer pool that might not have known about the firm otherwise. Owners can create a local business page for free that can provide a forum for clients and an advertising space for employees.

Act Out

Mashable reported social media websites, like Facebook, provide a forum on which a firm's leader can be more personable and fun. One of the biggest mistakes a small company can make when they create a new webpage is to be boring, overly business-like and predictable.

"Status updates by themselves get boring. But then again, so do photos, videos and multimedia as a whole. Your job is to mix it up. The moment you have become predictable, boring or annoying, they'll hide you from their feed," warned social media expert and author Peter Shankman, Mashable detailed.

Take advantage of unknown benefits

According to an interview with Facebook's director of online operations, Sarah Smith, Entrepreneur Magazine found there a number of advantages to using Facebook that small business owners are generally aware of.

For example, Smith detailed, the online Page Insights application can be used for free to analyze free market research. It provides analytics on who customers are, what business-created posts spur the most consumer discussion and what actions taken by administrators prompt new fans, likes, shares and other means of spreading the company's message.

Pay attention to demographics

Small business owners can click on the "like" section of their Facebook page to view demographics of the people who are fans of their brand, according to the Houston Chronicle. The information includes city, language, age and gender, among other personal factors.

Once the business has the proper funds to spend on a more wide-scale marketing campaign, it could use the preliminary information garnered from Facebook to craft the proper advertisements to teach the maximum number of interested clients. For example, if the majority of individuals who like a business' page are located in a major city, the company could primarily market there, on billboards flanking major roads, on commercials broadcasted on local channels or via other mediums.