Social Media is Driving Growth for Small Businesses
February 27 2014 |
Many small business owners may find their point-of-sale terminals ring in more sales when they engage in social media marketing efforts. According to a recent report published by LinkedIn on "How Social Media is Driving Growth for Small and Medium Businesses (SMBs)" nearly 94% of survey respondents who use social media said they use it for marketing. An impressive 61% found social media useful in gaining new customers.
Attracting new customers remains a core challenge for businesses of all sizes. Social media provides a relatively low cost way through which small business owners can connect with a large audience of potential clients. Most social sites are free to join and the real challenge is finding time to provide useful information on a consistent basis. Those who have mastered this art of utility build lasting relationships and gain tremendous lifetime value which inadvertently includes the acquisition of new high-value customers.
In addition to gaining new customers, social media is also an excellent way in which small business owners can turn their existing customers into a highly effective marketing channel. Finding these highly engaged, loyal customers and amplifying their positive reviews and messages can drive advocacy, increase awareness and power your brands reputation. Additionally, as consumers search for user generated content to inform their buying decisions, it becomes much easier for them to stumble upon positive reviews about your company.
Small business owners are also using social media as a learning hub. It is the perfect platform through which they can get answers to business related questions from a network of trusted peers. One can easily post a question such as, "Where can I get affordable wireless point-of-sale terminals?" and get a variety of answers in no time. The savvy merchant will use this tactic to gather information and make better business decisions.
Adding social media to your marketing arsenal is a smart move for any small business. Attract new customers, empower your brand ambassadors and learn from experts across various industries who share their knowledge and insights at no cost!