5 Reasons Why Social Media is for You

Social media is the buzzword of the year in business, but understanding how it can help you business falls into that fuzzy gray area that can make you ask, “Is it a fad or a good investment?”  When you cut to the chase, there are 5 key reasons that a well developed social media strategy would be a wise venture. 

1.  It’s Free!  Can you name one other marketing strategy that will not cost anything (other than time) and reach millions of future clients?  There are innumerable options, should you want to put money into marketing, but no guarantee of a positive ROI.  Additionally, utilizing an established social media site as your launching point is a great start if you do choose to make a financial investment.  Example: Example No. 1: Melrose Jewelers’ director of marketing, Kyle Mitnick, said that since Melrose introduced its Facebook page, blog and YouTube channel last fall, the company has seen a 71-percent increase in year-over-year sales.  “Facebook is a great forum for really conveying the trust of our business and helps us level the playing field in reaching younger, aspiring individuals who are technologically savvy,” said Mr. Mitnick.  “With this group, our social presence — reviews by other Facebook users, posts and interaction with our fans — builds credibility.” (http://goo.gl/P8qIB; The New York Times, 7-11-11)
2. References Round-Up.  You’re doing amazing work, and your customers are 100% pleased.  How can you let your next client know just how amazing you are?  Small businesses sustain themselves on word-of-mouth referrals, typically accounting for 50% of their profits.  Social media is the forum where customers and clients can “like” your work, review your services, and even address concerns.  By being proactive, responding to customers, and letting people post honest reviews you build credibility.  Added value; if you host the social media, and someone would post something completely awry, you can always take things down, or limit the postings.  I’m not an advocate of only non-negative reviews, but you don’t need to showcase slander.
3. Sneak a Peek.  If you’re not in the arena, you can’t see the competition’s game.  By actively participating in social media, you can see what others in your field are doing in the same realm.  I’m not advising you to become a copycat, but when someone has a successful strategy, you can see what worked well, and when they have a blunder, you know what to avoid.   Major corporations invest a lot of money in major campaigns and management of their outlets.  Check them out and see what you like.  It’ll take some of the creative pressure off your shoulders.  Be cautious though, once you launch a social media page, you need to keep up with it, so be ready to hit the ground running.
4. Team Networking.  If you focus on a specific region or within a defined market, there is power in numbers.  Social media allows you to network and team up with others in your field that operate in other locations, or business that target the same market yet offer different services.  Working together can help you both succeed.  Instead of having 5 sites with 200 fans each, one site with 1,000 fans will make a greater impact, and establish your reputation.  It’s also easier to supply one update a week for the sites rather than one a day.  By delegating the needs of sustenance within the landscape of digital marketing you empower your brand, build a reputation as a team player, and reach more people.  Sounds like a win all around.
5. Real-Time Updates for Your Portfolio.  Make social media work for you.  You can set up reports, tracking, trends, and polls to compile from your social media efforts.  This can be powerful information that you can showcase in presentations and proposals for potential clients.  Why learn new software when you can utilize what you've already mastered?  Social media also allows you to showcase public presentations and other media you've previously invested in.  Sites like Slideshare allow you to post presentations or documents on-line for others to browse.  However, I wouldn't post your key slides on-line.  Remember your competition could view these too (see reason #3). 

Additional info:  Did you know that the USA government is active in social media?  Although there are plenty of topics that need tackled in DC, social media is one issue that’s not being debated.  Check out the The White House, President, Department of State, and Congress.