The Socialization of Small Business
Social Media impacts every business, every brand, and in doing so, connects a network of distributed communities of influence, making the world a much smaller place in the process. Small businesses are in fact at an advantage in Social Media Marketing as they can focus on hyper-local activity that can offer immediate rewards or at the very least, the real-time feedback or lack thereof says everything about next steps.
Content
The Socialization of Small Business
By Brian Solis, blogger at BrianSolis.com and principal of FutureWorks, Author of the new book Engage!, Co-Author, Putting the Public Back in Public Relations and Now Is Gone
Social Media impacts every business, every brand, and in doing so, connects a network of distributed communities of influence, making the world a much smaller place in the process. Small businesses are in fact at an advantage in Social Media Marketing as they can focus on hyper-local activity that can offer immediate rewards or at the very least, the real-time feedback or lack thereof says everything about next steps. A recent survey conducted by Citibank offers a contrary point of view, citing small business executives who believe social networks offer no benefit or promise to expanding their business. This isn't all that uncommon however. The truth is that
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
without knowledge or direct experience, it's virtually impossible to envision the potential of something where they're most likely absent as a consumer themselves. But, if a conversation takes place online and you're not there to hear it, did it actually happen? Of course it did...and it continues - with or without you. The "I" in ROI does not stand for ignorance. It does however stand for investment and in cases where new media is "new," it also stands for intelligence. We're learning together and that's both an opportunity and an impediment. We need guidance to better understand the promise and also how to reap its reward. Ad-ology published its "Small Business Marketing Forecast 2010" report that revealed that among the other benefits of social media, lead generation is the biggest benefit of online networking. Other benefits ranked as follows... Keeping up with the industry Very Beneficial: 16% Somewhat: 29% Not Beneficial: 55% Monitoring what is being said about your business Very Beneficial: 16% Somewhat: 28% Not Beneficial: 55% Generating leads Very Beneficial: 16% Somewhat: 34% Not Beneficial: 50% Competitive intelligence
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
Very Beneficial: 14% Somewhat: 29% Not Beneficial: 57% Improving customer experience Very Beneficial: 12% Somewhat: 29% Not Beneficial: 59% Resolving problems Very Beneficial: 11% Somewhat: 22% Not Beneficial: 67% Finding vendors/suppliers/partners Very Beneficial: 10% Somewhat: 28% Not Beneficial: 62% Recruiting for new employees Very Beneficial: 8% Somewhat: 19% Not Beneficial: 73% Background checks - employees, suppliers, etc. Very Beneficial: 7% Somewhat: 20% Not Beneficial: 72% Among those surveyed, Facebook appeared as the most beneficial social network. Perhaps tied the reverberation of activity across social graphs. LinkedIn, while
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
cited less often, ranked just below Facebook, but ahead of Twitter - for now at least. Facebook Very Beneficial: 10% Somewhat: 23% Not Beneficial: 14% Do not use: 53% LinkedIn Very Beneficial: 6% Somewhat: 15% Not Beneficial: 13% Do not use: 67% MySpace Very Beneficial: 6% Somewhat: 11% Not Beneficial: 15% Do not use: 68% Twitter Very Beneficial: 6% Somewhat: 13% Not Beneficial: 12% Do not use: 69% YouTube Very Beneficial: 5% Somewhat: 10% Not Beneficial: 12% Do not use: 73%
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
The study shows that education and awareness are needed among small businesses to better understand the promises, advantages and the commensurate commitments necessary to generate visibility and ultimately the activity necessary to sustain or at the very least, contribute to a lucrative and growing business. 31 percent of small businesses claimed that their primary hurdle was the perception that "our customers do not use social networks." Equally, business owners complained that they do not have the time or resources necessary to run an effective social media marketing campaign. Sound familiar? While yes, it's true, small business owners must focus on the core products, services, and values of their business. However, without visibility, customers do not possess the information necessary to connect the dots between their want or need and you.
The Top 10 Ways to Monetize Real-Time Conversations in Social Media
No story is complete without providing ideas to move forward and compete for the future. By competing for the future, we also cultivate a flourishing state of "now." One of the primary advantages of social media for small businesses is the relatively low cost associated with uncovering relevant conversations within your geographic or service area. It's how we can identify and personally connect with customers. It's how we learn what they're seeking. It reveals interests and cravings. For example, take a moment to run a real-time search activity search using Collecta to get a feel for the volume and velocity for relevant conversations online. Then, run a local search on Twitter (choose by geography) using a keyword related to your business, but not necessarily that of your business or product name. For example, Pizza, Coffee, and local yogurt shops are searching those words specifically to offer specials and free items to those within proximity to stop in and give it a try. Business owners report that while offers and freebies reflect a notable investment, they always increase clientele and business overall.
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
To help entrepreneurs and small business owners capitalize on the "now" or realtime conversations populating social media, Web 2.0 investor extraordinaire Ron Conway offered his vision for the top 10 ways to monetize real-time conversations. 10. Lead generation 9. Coupons 8. Analytics, analyzing the data 7. Enterprise CRM 6. Payments 5. Commerce 4. User-authentication, verifying accounts 3. Syndication of new ads 2. Advertising – Context and display ads 1. Acquiring followers New mobile social networks such as FourSquare, Loopt, Gowalla are also emerging that connect people within local areas based on where they are and what they're doing. These services require you to "check in" to a location or an establishment and as such, local businesses are encouraging patrons to do so by offering incentives, "check in here on FourSquare and get a free slice of pizza or a free beer." Why? Each time someone checks in, their social graph follows the establishments they frequent and as such, brands the venue within a very trusted circle. There are also opportunities for paid sponsorships. Each time I check in to venues in Redwood City, a local wine shop and tasting room, Savvy Cellar, pops up with a "nearby special." If I pop in and show my iPhone with the special, I receive 50% off any tasting. Brilliant. To learn more about specific examples for increasing awareness and revenue using Social Media, please read Forbes' piece on 21 Top Twitter Tips (Story | Through Pictures)
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
Brian Solis is globally recognized as one of most prominent thought leaders and published authors in new media. A digital analyst, sociologist, and futurist, Solis has influenced the effects of emerging media on the convergence of marketing, communications, and publishing. He is principal of FutureWorks, an award-winning New Media agency in Silicon Valley, and has led interactive and social programs for Fortune 500 companies, notable celebrities, and Web 2.0 startups. BrianSolis.com is ranked among the top of world's leading business and marketing online resources. Solis is the author of Engage! The complete guide for businesses to build, cultivate and measure success in the new Web.
In 2009, Brian Solis, along with Deirdre Breakenridge, released, Putting the Public back in Public Relations.
Connect with Brian Solis on Twitter, LinkedIn, Tumblr, Google Buzz, Facebook --Subscribe to the BrianSolis.com RSS Feed
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
By Brian Solis, blogger at BrianSolis.com and principal of FutureWorks, Author of the new book Engage!, Co-Author, Putting the Public Back in Public Relations and Now Is Gone
Social Media impacts every business, every brand, and in doing so, connects a network of distributed communities of influence, making the world a much smaller place in the process. Small businesses are in fact at an advantage in Social Media Marketing as they can focus on hyper-local activity that can offer immediate rewards or at the very least, the real-time feedback or lack thereof says everything about next steps. A recent survey conducted by Citibank offers a contrary point of view, citing small business executives who believe social networks offer no benefit or promise to expanding their business. This isn't all that uncommon however. The truth is that
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
without knowledge or direct experience, it's virtually impossible to envision the potential of something where they're most likely absent as a consumer themselves. But, if a conversation takes place online and you're not there to hear it, did it actually happen? Of course it did...and it continues - with or without you. The "I" in ROI does not stand for ignorance. It does however stand for investment and in cases where new media is "new," it also stands for intelligence. We're learning together and that's both an opportunity and an impediment. We need guidance to better understand the promise and also how to reap its reward. Ad-ology published its "Small Business Marketing Forecast 2010" report that revealed that among the other benefits of social media, lead generation is the biggest benefit of online networking. Other benefits ranked as follows... Keeping up with the industry Very Beneficial: 16% Somewhat: 29% Not Beneficial: 55% Monitoring what is being said about your business Very Beneficial: 16% Somewhat: 28% Not Beneficial: 55% Generating leads Very Beneficial: 16% Somewhat: 34% Not Beneficial: 50% Competitive intelligence
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
Very Beneficial: 14% Somewhat: 29% Not Beneficial: 57% Improving customer experience Very Beneficial: 12% Somewhat: 29% Not Beneficial: 59% Resolving problems Very Beneficial: 11% Somewhat: 22% Not Beneficial: 67% Finding vendors/suppliers/partners Very Beneficial: 10% Somewhat: 28% Not Beneficial: 62% Recruiting for new employees Very Beneficial: 8% Somewhat: 19% Not Beneficial: 73% Background checks - employees, suppliers, etc. Very Beneficial: 7% Somewhat: 20% Not Beneficial: 72% Among those surveyed, Facebook appeared as the most beneficial social network. Perhaps tied the reverberation of activity across social graphs. LinkedIn, while
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
cited less often, ranked just below Facebook, but ahead of Twitter - for now at least. Facebook Very Beneficial: 10% Somewhat: 23% Not Beneficial: 14% Do not use: 53% LinkedIn Very Beneficial: 6% Somewhat: 15% Not Beneficial: 13% Do not use: 67% MySpace Very Beneficial: 6% Somewhat: 11% Not Beneficial: 15% Do not use: 68% Twitter Very Beneficial: 6% Somewhat: 13% Not Beneficial: 12% Do not use: 69% YouTube Very Beneficial: 5% Somewhat: 10% Not Beneficial: 12% Do not use: 73%
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
The study shows that education and awareness are needed among small businesses to better understand the promises, advantages and the commensurate commitments necessary to generate visibility and ultimately the activity necessary to sustain or at the very least, contribute to a lucrative and growing business. 31 percent of small businesses claimed that their primary hurdle was the perception that "our customers do not use social networks." Equally, business owners complained that they do not have the time or resources necessary to run an effective social media marketing campaign. Sound familiar? While yes, it's true, small business owners must focus on the core products, services, and values of their business. However, without visibility, customers do not possess the information necessary to connect the dots between their want or need and you.
The Top 10 Ways to Monetize Real-Time Conversations in Social Media
No story is complete without providing ideas to move forward and compete for the future. By competing for the future, we also cultivate a flourishing state of "now." One of the primary advantages of social media for small businesses is the relatively low cost associated with uncovering relevant conversations within your geographic or service area. It's how we can identify and personally connect with customers. It's how we learn what they're seeking. It reveals interests and cravings. For example, take a moment to run a real-time search activity search using Collecta to get a feel for the volume and velocity for relevant conversations online. Then, run a local search on Twitter (choose by geography) using a keyword related to your business, but not necessarily that of your business or product name. For example, Pizza, Coffee, and local yogurt shops are searching those words specifically to offer specials and free items to those within proximity to stop in and give it a try. Business owners report that while offers and freebies reflect a notable investment, they always increase clientele and business overall.
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
To help entrepreneurs and small business owners capitalize on the "now" or realtime conversations populating social media, Web 2.0 investor extraordinaire Ron Conway offered his vision for the top 10 ways to monetize real-time conversations. 10. Lead generation 9. Coupons 8. Analytics, analyzing the data 7. Enterprise CRM 6. Payments 5. Commerce 4. User-authentication, verifying accounts 3. Syndication of new ads 2. Advertising – Context and display ads 1. Acquiring followers New mobile social networks such as FourSquare, Loopt, Gowalla are also emerging that connect people within local areas based on where they are and what they're doing. These services require you to "check in" to a location or an establishment and as such, local businesses are encouraging patrons to do so by offering incentives, "check in here on FourSquare and get a free slice of pizza or a free beer." Why? Each time someone checks in, their social graph follows the establishments they frequent and as such, brands the venue within a very trusted circle. There are also opportunities for paid sponsorships. Each time I check in to venues in Redwood City, a local wine shop and tasting room, Savvy Cellar, pops up with a "nearby special." If I pop in and show my iPhone with the special, I receive 50% off any tasting. Brilliant. To learn more about specific examples for increasing awareness and revenue using Social Media, please read Forbes' piece on 21 Top Twitter Tips (Story | Through Pictures)
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
Brian Solis is globally recognized as one of most prominent thought leaders and published authors in new media. A digital analyst, sociologist, and futurist, Solis has influenced the effects of emerging media on the convergence of marketing, communications, and publishing. He is principal of FutureWorks, an award-winning New Media agency in Silicon Valley, and has led interactive and social programs for Fortune 500 companies, notable celebrities, and Web 2.0 startups. BrianSolis.com is ranked among the top of world's leading business and marketing online resources. Solis is the author of Engage! The complete guide for businesses to build, cultivate and measure success in the new Web.
In 2009, Brian Solis, along with Deirdre Breakenridge, released, Putting the Public back in Public Relations.
Connect with Brian Solis on Twitter, LinkedIn, Tumblr, Google Buzz, Facebook --Subscribe to the BrianSolis.com RSS Feed
(cc) Brian Solis, www.briansolis.com - Twitter, @briansolis
