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Social Media and Your Business: A Match Made in Heaven?

by Dan on October 5, 2011

So, you’ve got a business and everything is ticking along nicely. Your conversion rates are good, your client base steadily improving and you’ve got a sturdy base to build up from. But wait, what’re those sites called? face-whasit-a-book? My-diddily-space? Tw*tter?

They belong to a relatively new (well, not that new now) group of websites: the beloved social networks!

The mainstay of social butterflies, they should also be a staple of your advertisement campaigns.

But why, Dan? Why?

Applying a much simplified and changed form of the diffusion of innovation model created by Everett Rogers it’s not hard to see how social media can benefit you. The model suggests that there are various elements that affect how quickly an idea is adopted (i.e how quickly people want to buy your product), which includes how quickly the target consumers find out about an idea and how quickly they are persuaded it is a good. If you utilize social media you can speed up the rate at which people find out about your product/service, the rate at which they accept it and, subsequently, the rate at which it is used.

Here’s an example:

Person A does not use social media. They spend lots of money on advertising and they have a good conversion rate (let’s say through banner ads, etc.). They are constantly looking to promote themselves, and spend a lot of money doing so.

Person B does use social media. They also spend money on advertising and have a good conversion rate. Their real profit, however, comes from their utilization of the free social media! They take steps to ensure that their business is perceived positively and spend time, and a little money, on making sure their business is visible on their target social network. From there, they watch their profits sky-rocket, as word of mouth spreads the news fast.

Other benefits:

  • Your product seems more in touch with society, which makes people more at ease with parting with their money.
  • The profile of your website is raised in Google if you keep mentioning it in posts (Google ranks websites based on their prevalence in social media)
  • You can connect directly with you target market and receive comments straight from the horse’s mouth!

How do I go about getting those benefits?

It can be daunting for a person not used to using these social networks, but they’re really very easy. To help you, we’ve compiled a really short, brief introduction to them, just for you!

  1. Sign up to as many as possible: Facebook, twitter, linked-in, etc. The sign-up process will usually be self-explanatory
  2. See if they do specific business pages (most do) and, if so, set up a business account
  3. Use the name of your business as the name of your profile
  4. Use a little literary magic to bring your product/service to life and write a short synopsis of your product/service on the page. Remember to make it interesting, but brief.
  5. Include a photo. Not necessarily of yourself, but of your products or something relevant to your business. Make sure the photo is good quality. Even your company logo would suffice. A blank photo space immediately looks unprofessional. Again uploading photos is usually straight-forward, you just need to click on the photo space. Alternatively, look round the site by clicking on links. This will help you get your bearings and you’ll most likely find an ‘upload photo’ option somewhere.
  6. Start putting your product out there: add friends, post updates periodically (status or tweets, be sure to include a link to your website if you have one. As mentioned before, this improves your ranking.) – make sure they are brief and relevant, also keep from doing too many as this may annoy your potential customers – and, if desired, buy advertising space.

So, to sum it up, USE SOCIAL NETWORKS, but use them wisely! Remember: good news spreads like wildfire, bad news spreads like wildfire on steroids.

Keep on your toes and your profit grows.

Cheerio,

Dan Little.

Related posts:

Afraid? Nope, There’s Money to be Made!

Taking the Leap: ‘Should I Start My Own Business?’

The Art of Social Networking

Social Media and Your Business

Earn Money on the Internet: Building A Business Fast

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