How to Use Social Media to Market Your Small Business

The economy is down, but communication is up. While the first factor negatively impacts your business, the second factor can bring new business in. A study conducted by Regus, a workplace solutions firm, indicates a 7% increase in the use of social media used by businesses worldwide in the last year. Nearly half of those businesses regularly use social media to bring in new and repeat business.

Integrating social media into your small business can help you cut down the cost of marketing and advertising. Get the know-how with these tips.

Pick Your Poison

Want to know how to personally access the needs of your customers? Get plugged in to a social media network and start communicating. According to graph done by Postling.com, small businesses primarily use Twitter and Facebook to market and advertise. Other than these two networks, professional networks such as LinkedIn or Plaxo can further your connection with customers and colleagues. Learn how the below networking sites can further your small business.

Twitter – Use this microblogging service to post updates on products and services, to answer quick questions or concerns that a customer may have or to advertise sales or specials. You are limited to 160 characters, so keep it short!

Facebook –This is the social networking mother ship. Create a page defining your business, upload pictures of your logo, and inform people who, what and where your business is. Include contact information and post updates regularly to keep clients coming back.

LinkedIn –Give your business a professional standing in the online world by signing up with a professional business network. LinkedIn has over 100 million members and can help you “link” up with other professionals and colleagues with similar interests. Find employees through the job board or connect to a group in your industry niche to stay informed.

Learn About Your Competition

While these big three networking sites will help get your name out there, it doesn’t hurt to do a little reconnaissance to see what your competition is up to. Read your competitors updates on social networking site often to get an idea of what you are up against. The benefits of learning how your competitor communicates to customers on social media sites include:

• Seeing the manner in which your competitor communicates to their customers.
• Seeing what offers and deals they give. Examining the frequency at which they offer incentives.
• Looking at what information that your competition doesn’t offer.

These recon sessions can give you a huge advantage when it comes to growing and marketing your business. By closely examining the competition, along with communication you have with your own clientele, you can significantly boost your bottom line.

Embrace Communication

Social networking is about socializing. Before you say, “Well Duh” consider this: social networking sites have enabled businesses to communicate and befriend their customers. This allows companies to get at the heart of the matter; giving the customer what they want at a price they will are willing to pay for. In order to market your business successfully on these networks, cash in on these communication opportunities.

Business conferences are a great opportunity to complement your social networking campaign.  At your next business conference, search on twitter for people using the conference hashtag.  It's a good way to meet like-minded people while still sharing a common interest.  For frequent travelers, read our American Express Starwood review to see if the benefits fit your travel lifestyle.

Create a Community

A community is your greatest networking asset. If you can create a place where your customers will come back repeatedly to talk about the products or services that your business offers, your company will boom. Create a forum, offer a chat session where customers can talk about their experiences they have with your products, or host an online event such as a webinar to bring people together. Give your customers something to rally around.

Get Feedback

This is another cash cow area. Ask for feedback. Don’t be afraid to be real with your customers. Keep it squeaky clean, and positive when communicating with your clients and avoid getting to personal. Ask what your clients want, and then give it to them.

Update Often

Post updates on your social media sites regularly. Twice to three times a week will help keep your company in your customer’s mind. In your posts include offers and incentives to get your customers to buy, but also consider giving those who follow you some value. An article post on how to complete a task, a contest or even company news softens the sell a little and makes your offering more palatable.

Use Social Media Management Systems

After signing up to all your social networking sites, you may have realized, it can be a total time suck. Cut down on the hours you spend on your online marketing campaign by using a social media management system. Many of these systems will integrate all of your social media sites into one, easy to read location. Some like HooteSuite and Sprout Social offer information about your demographic ratios and allows you to track your data. Check out the following sites to help make your marketing plan easier to implement.

• HootSuite
• Sprout Social
• Involver
• CoTweet
• Tweet Deck

What Are You Waiting For?

Get your business online, create a following and grow your business. The people are already there, all you have to do is go and find them. 

Today, Stephanie Phillips shares tips on how to use social media to market your small business.  Stephanie Phillips is a social media advocate at CreditDonkey, a website where small business owners can compare business credit card offers and apply online.

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