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Social Media Benefits Small Business

Great research information on adoption of Social Media and the positive outcome. Some small businesses need to see the stats before they become believers. This information came from Media Posts Research Brief.

Social Media Adoption Yields New Customers For Small Businesses

The third wave of the Small Business Success Index, by Network Solutions and the University of Maryland’s Robert H. Smith School of Business, reports social media adoption by small businesses has doubled from 12% to 24% in the last year. Small businesses are increasingly investing in applications including blogs, Facebook and LinkedIn profiles.

Key social media usage highlights (% of respondents)
• 75% surveyed have a company page on a social networking site
• 61% use social media for identifying and attracting new customers
• 57% have built a network through a site like LinkedIn
• 45% expect social media to be profitable in the next twelve months

Dr. Alan Glazier, CEO and Founder of an eye and vision care center, said “… I was forced to consider alternative options to keep my business visible… with a very small investment in social media marketing, I was able to generate new business opportunities… (and) most importantly, my marketing budget has been reduced by more than 80%… ”

61% of the respondents use social media to identify new customers. The biggest expectation small business owners have from social media is expanding external marketing and engagement including identifying and attracting new customers, building brand awareness and staying engaged with customers.

50% of small business social media users say it takes more time than expected. While social media adoption has doubled in the last year, there are still some roadblocks to small businesses fully exploiting its potential. Another 17% feel that social media gives people a chance to criticize their business on the Internet. Related to this, only 6% feel that social media use has hurt the image of the business more than helped it.

Janet Wagner, director of the Center for Excellence in Service at the University of Maryland, says that “Social media levels the playing field for small businesses… ”

Other key findings from the December 2009 Small Business Success Index:

Small businesses experience positive effects from the economic downturn:

• 72% have found ways to operate more efficiently (up significantly from 66% in June)
• 47%have been led to find new products and services that benefit customers
• 43% have become better teams as hard times force people to work together

Building online presence continues to be key focus for small businesses:

• Company Web sites seem to be the top technology investment in the next two years, with small businesses either adding new features/functionality to their existing Web sites or building one from scratch
• The ability to showcase their products and services online to attract new customers is second in the hierarchy of technology investments
• Social media investments rank third in small business investments to be made in the next two years
Customer service the biggest strength of small business owners:
• Small businesses are highly successful at answering customer questions, ensuring customer satisfaction, showing empathy, providing consistent service, resolving problems and winning repeat business
• Four of the six customer service dimensions have gotten stronger compared to a year ago, and one of these, ensuring customer satisfaction, is significantly higher

Connie Steele, Director at Network Solutions, concludes that “… social media can be the best friend for small business owners who constantly seek new ways to maximize productivity while keeping costs low… ”
For additional information about the Small Business Success Index, please go here.

Best Social Media – 7 Key Steps to Make a Profit With Social Media

If you want to enjoy the best social media success, there are seven key steps to take to make a profit with social media. Through this article you are provided with an overview of the seven key steps to make a profit with social media. By following the steps you are be on your way to the best social media success.

1. The first step that you need to take when it comes to developing the best social media strategy is identifying those social media outlets that will be most beneficial to you or your business.

2. The next step that you need to take when it comes to developing the best social media strategy is to create a comprehensive social media plan. You do not want to embark on a social media endeavour without a road map.

3. When it comes to the best social media strategy, you will want to consult and visit with other people have been involved with social media in the past. You do not need to reinvent the wheel.

4. The fourth key step you need to understand when it comes to the best social media is the need to make sure you present yourself in the most positive light. Remember, when it comes to social media you are marketing yourself.

5. An when it comes to the best social media, you need to make sure that your up to date on current trends that are associated with this line of communication. Keep in mind the Internet is always changing as is social media.

6. Depending on your own experience of the Internet and with social media you will want to call upon social media experts to assist you in devising the best social media plan possible.

7. Finally, you will want to continually revise your social media strategies to make sure that their up to date and effective. Obviously, if you’re going to be involved in social media you want to achieve your goals in the short rather than a long run.

Author: Sean R Mize
Article Source: EzineArticles.com
Provided by: Mobile device news