Thursday, February 24, 2011

Social Media and Your Business

Now don’t get all defensive and antsy about it. It looks like social media is here to stay in one form or another so you may as well get on board and embrace all it has to offer. The opportunities on a personal level are endless but that’s not what we’re here to talk about. How can social media help build your business?

Firstly, let’s get a handle on the extent to which these sites are saturating the marketplace. We hear about them everyday in the media itself, amongst friends, family or just general water cooler talk but did you know that Facebook currently has in excess of 500 million active users worldwide and approximately 90 million tweets are registered every day? What a captive marketplace!

Is it right for your business?

Yes agreed, social media may not be right for every business. The local denture replacement firm may not benefit from Facebook or Twitter posts. But businesses that target tech savvy market segments can certainly gain valuable exposure.

Benefits

The likes of Facebook and Twitter provide you with an unique opportunity to enter into a new level of relationships with your existing clients and reach and develop new relationships with your client’s friends, family, work mates etc. Ensure your posts are engaging and interesting and let the domino effect begin. It’s amazing how far a ‘Like’ can take you. Consumers love a personal recommendation and none more so that when it comes from someone they have already developed a trusting relationship with.

How do I measure success?

The success of social media sites is difficult to measure in terms of sales conversions. However, what can be measured is popularity and it is common sense that you would only ‘friend’ or ‘follow’ something if you had an interest in it . And who knows what that interest may develop into.

Search Engine Optimisation

The other, more tangible benefit is that social media posts are recognised by search engines such as Google. Search engine algorithms love fresh content and evidence of link building and when found these contribute to your overall search engine optimisation strategy and ultimately your search engine ranking.

Cost?
And you know what, it’s free! Yes you will need to throw resources at it to build your following but beyond that, there is no outlay or ongoing costs.

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