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The Impact of Social Media on Small Businesses

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The Impact of Social Media on Small Businesses

Business world says, ‘word of mouth’ is the perfect path to accomplish business goals. But, at present, the word of mouth is online and onscreen, through social media marketing networks. So, here the question is, how social media marketing will change your small business?.

Social media emerged as preferred digital mass media for holistic communication among various groups and sections. Huge number of social media channels like Facebook, Twitter, LinkedIn, Google+, Digg, Pinterest & Youtube  are available in web world.   So, it is very important to choose  right social media network for your business advantage. And you have to know, how you are reaching the targeted audience  and  what  is  the amount of ROI you are getting through social media. In the era of digital marketing, you have to adopt right platform to meet the needs of diverse targeted audience.

Traditional marketing strategies are not feasible for the small business units, due to poor results and heavy costs. Social media will be a perfect solution, for small scale and emerging companies, as it is cost effective and has ability to interact with customers directly.

The Marketer Alex Bogusky (Founding partner of Crispin porter) says, “The old paradigm was pay to play. Now you get back what you authentically put in. you’ve got to be willing to play to play”.

Social Media is influencing contemporary business world. And the good news is,  your customers are using social media as  part of their daily life. The following stats, provided by popular research reports, underline the  importance and relevance of social media in today’s world.

 

The Notice traced by Ben Foster is showing that, there are now more than 800 Million active Facebook users, with over 200 million are added in the year 2011.

Facebook is growing rapidly. Which side of the wave are you on?

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        What Facebook is saying about it’s users:

  1. More than half of facebook users login every day – that’s more than 400 million people.
  2. The average user has 130 friends and is connected to 80 pages, events and groups.
  3. There are 900 million objects that people interact with (pages, events, etc..)
  4. Facebook hosts over 7 million apps, and over 20 million app’s are downloaded each day.

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Comscore shows the impact of consistently posting to Facebook

These stats are announced by facebook at F8 Developer Conference.

How are People using Social Media:

Experian has recently released their Social Media Consumer Report. According to that report, The average Facebook user spends 20 minutes on his or her user account.

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Note that Facebook users spend nearly twice as much time on the platform as Twitter users. The jury is still out on Google+, as data hasn’t been accumulated to show the effect of the public release.

Small Business: Towards Social Media

Zoomerang gives a report that 1,180 small and mid-sized business (SMB), Decision makers and 500 consumers are saying that, The 3 most important reasons why small businesses adopt social media are:

  1. Connecting with Customers
  2. Visibility
  3. Self- Promotion

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81% of small business leaders use social media to get in front of customers and find new customers.

 

44% of SMB Decision Makers use Social Media:

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The Impact of Social Media on Small Businesses
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