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Is social media in your marketing strategy?

May 13, 2010

As the economy continues to take small strides toward recovery and consumer confidence is showing signs of improvement, the time is now for business owners to make sure their target audience is aware of their existence.According to the National Small Business Association’s 2009 Year-End Economic Report, two-fifths of small business owners plan to implement new advertising and marketing strategies this year while 37% are planning to increase their Internet presence and e-commerce.

Social media is one marketing strategy that many businesses are warming up to. With social media, businesses can market their brand to consumers as well as other businesses. In fact, the 2009 Small Business Success Index report compiled by the University of Maryland’s Smith School of Business found that about 20% of small businesses actively use social media in some part of their business and of those three-fourths have a company page on a social networking site. In addition, the findings revealed the adoption of a social media presence by small businesses has doubled since 2008.

However, as with any marketing tool, and social media is no exception, businesses must be ready to take on the challenge. According to Bankrate.com, the following four tips can help you with your social media efforts.

  1. Create a strategy
  2. Build relationships
  3. Deliver great content
  4. Be consistent and follow through

Janet Wagner, director of the Center for Excellence in Service at the University of Maryland’s School of Business noted, “Social media levels the playing field for small businesses by helping them deliver customer service. Time spent on Twitter, Facebook and blogs is an investment in making it easier for small businesses to compete.”

Here’s the bottom line. Proper planning and execution are key factors in your marketing strategy, especially social media. Are you engaged in social media? Tell us what your experience has been like.