Monthly Archives: February 2015

Social Media – Maintaining the Competitive Edge in Today’s Digital World

Some small business owners believe that social media marketing is a here today, gone tomorrow marketing phenomenon, a buzzword with no practical applications in their day-to-day business, and comes at the expense of a steep, complicated learning curve. Due to its relatively quick appearance on the marketing scene, social media, at least in many entrepreneur’s opinions, has developed a reputation for being a passing interest, and therefore, unprofitable.

This mindset couldn’t be further from the truth.

According to Hubspot, a company that develops and markets a software product for inbound marketing, 92 percent of marketers in 2014 claimed that social media marketing was vital to their business, with 80 percent indicating their efforts increased traffic to their websites. In addition, Social Media Examiner, the largest online social media magazine, reports that 97 percent of marketers are currently participating in social media – but 85 percent aren’t sure what social media tools are the best to use.

Simply put, social media is part of doing business today and an integral part of the modern marketing mix. Businesses can no longer get away with only having an Internet presence through their company website or e-newsletter. Today, a business’s storefront extends to social media marketing sites like Facebook, Twitter and Google+.

In a nutshell, if your business isn’t currently taking advantage of these social media sites, it’s missing the boat or more to the point, sales opportunities.

Still not convinced? Here are a few reasons why social media is so important for your small business:

1. Your customers are already using it – According to a recent Neilson report, Americans spend nearly 25 percent of their time on social media networks and blogs. So, most likely, your target market is already using social media. Consequently, you will increase the odds of getting your marketing message to them if you are where they are.
2. Using social media will give your company a competitive advantage – if you competitors haven’t already ventured into the social media scene, you will have a leg up on them by taking advantage of this marketing tool.
3. It will help you connect with current customers as well as prospects – social media offers a two-way marketing channel. It allows you to have a conversation, creating a community of fans and followers that see your company as more than just an entity. It gives your company a face, so to speak. People view Twitter and Facebook as social networks, not marketing machines. Consequently, they are less likely to see your post as an advertisement and are more likely to hear what you say.
4. It will allow you to respond to problems immediately – if there’s a problem with your product or service, it’s important that you know about it immediately. With the quick feedback that social media provides, you will be the first to know when there are issues, which affords you the ability to address them in a timely fashion. Study after study indicates that customers appreciate companies that are responsive to their complaints and try to make things right.
5. It will increase your sales – when you stay in front of your customer base, there is a greater likelihood that they will buy from you when they need the products you sell. Social media also gives you the opportunity to give your customers an incentive to buy your products. Tweet or post a coupon code for one of your products and see how many people buy that product using that code. I think you’ll be pleasantly surprised.
6. It’s free advertising – does it get any better than that?
7. It levels the playing field – you don’t need millions of dollars to launch an aggressive advertising campaign. But, what you will need is persistency and creativity. If you want to generate a lot of traffic and dramatically increase your sales online, you will need to make these platforms yours. You will have to outwit, outnetwork and outwrite your competitors while offering superior products and customer service. But, isn’t that what maintaining the competitive edge is all about?
The bottom line is that social media marketing is part of doing business today. This marketing tool has become imperative for branding your product and creating a buzz about your business. So, if your business isn’t already active on social networking sites, now is the time to start. There are millions of potential customers out there just waiting to be reached!