If you're like most small businesses, you already know you should have a presence on social sites like Facebook, Twitter, LinkedIn, etc.
You probably have lots of excuses, too, for why you just haven't gotten around to setting up a social strategy; maybe you think it's too much work, or maybe you think it's just a fad, or maybe you think that social networking doesn't really make a difference to your bottom line.
Well, if you've been waiting to see some evidence that social networking can work for your business, I've got good news for you (and bad news for your excuses).
According to recent research reports (from Chadwick Martin Bailey and iModerate Research), social marketing is not only good for promoting and marketing your business, but it can also directly impact sales, attract new customers, and strengthen customer loyalty.
What the Research Says In the study, 67% of consumers who follow businesses on Twitter said they are more likely to purchase from those businesses after becoming a "follower".
Similarly, 51% of people who "Like" a business on Facebook said they would become customers of the businesses they "Like".
Considering the hundreds of millions of users that these social platforms have, that's a lot of potential customers and new sales! Since social networking is all about sharing information, it's no surprise that the research also found 79% of Twitter followers and 60% of Facebook fans are more likely to recommend the businesses they follow to their own networks of friends and associates.
That can result in significant referrals being spread through the social networks, with the potential for further sharing and referrals as information is then shared among additional personal networks.
The Message You're Sending to Customers So how important is it for a small business to invest in a social networking strategy? Josh Mendelsohn, a vice president at Chadwick Martin Bailey, says "companies not actively engaging [in social networking] are missing a huge opportunity and are saying something to consumers, intentionally or unintentionally," which further underscores the importance of creating an effective social marketing strategy for your business.
If your small business isn't already using social networking to connect with customers, the sooner you get a strategy in place, the better.
Your customers want you to be there, and frankly, they expect it.
The reasons customers follow or "like" your business are varied; for instance, the study revealed that for women, receiving discounts and promotions was a top motivator (60% for Twitter users and 43% for Facebook).
Men, on the other hand became followers on Twitter to be part of a like-minded community (32%), but "liked" businesses on Facebook to show others that they liked and/or supported the business (52%).
Additional reasons cited in the study included gaining access to exclusive content, being the first to know new information about a business, or resolving customer service issues.
Whatever the reasons, it's clear that having a presence on the social networks is becoming an expectation of your customers.
What's Holding You Back? Social networking provides your business with a huge opportunity to reach new customers and promote your business, and the data now shows that companies with a social marketing strategy are seeing increases is actual sales and new customers as a result of their social activity.
So if your business still does not have a solid social marketing strategy in place, what's holding you back?
You probably have lots of excuses, too, for why you just haven't gotten around to setting up a social strategy; maybe you think it's too much work, or maybe you think it's just a fad, or maybe you think that social networking doesn't really make a difference to your bottom line.
Well, if you've been waiting to see some evidence that social networking can work for your business, I've got good news for you (and bad news for your excuses).
According to recent research reports (from Chadwick Martin Bailey and iModerate Research), social marketing is not only good for promoting and marketing your business, but it can also directly impact sales, attract new customers, and strengthen customer loyalty.
What the Research Says In the study, 67% of consumers who follow businesses on Twitter said they are more likely to purchase from those businesses after becoming a "follower".
Similarly, 51% of people who "Like" a business on Facebook said they would become customers of the businesses they "Like".
Considering the hundreds of millions of users that these social platforms have, that's a lot of potential customers and new sales! Since social networking is all about sharing information, it's no surprise that the research also found 79% of Twitter followers and 60% of Facebook fans are more likely to recommend the businesses they follow to their own networks of friends and associates.
That can result in significant referrals being spread through the social networks, with the potential for further sharing and referrals as information is then shared among additional personal networks.
The Message You're Sending to Customers So how important is it for a small business to invest in a social networking strategy? Josh Mendelsohn, a vice president at Chadwick Martin Bailey, says "companies not actively engaging [in social networking] are missing a huge opportunity and are saying something to consumers, intentionally or unintentionally," which further underscores the importance of creating an effective social marketing strategy for your business.
If your small business isn't already using social networking to connect with customers, the sooner you get a strategy in place, the better.
Your customers want you to be there, and frankly, they expect it.
The reasons customers follow or "like" your business are varied; for instance, the study revealed that for women, receiving discounts and promotions was a top motivator (60% for Twitter users and 43% for Facebook).
Men, on the other hand became followers on Twitter to be part of a like-minded community (32%), but "liked" businesses on Facebook to show others that they liked and/or supported the business (52%).
Additional reasons cited in the study included gaining access to exclusive content, being the first to know new information about a business, or resolving customer service issues.
Whatever the reasons, it's clear that having a presence on the social networks is becoming an expectation of your customers.
What's Holding You Back? Social networking provides your business with a huge opportunity to reach new customers and promote your business, and the data now shows that companies with a social marketing strategy are seeing increases is actual sales and new customers as a result of their social activity.
So if your business still does not have a solid social marketing strategy in place, what's holding you back?
SHARE
