Small business owners generally have so many things on their plates that keeping up with any one item can sometimes be a struggle.
Add that to the fact that most small businesses do not have near the budget as larger companies.
So tasks that large companies perform without thinking twice about it, such as marketing, a small business owner needs to spend more time on.
Many small businesses do not even have any marketing efforts at all let alone a marketing department.
One of the big reasons why, is the cost of such a unit.
There just isn't enough money or time to complete all the tasks necessary to maximize a company's profits.
Well thanks to the rise of social networking sites and social media those efforts are becoming more time and cost effective.
In a recent study by Nielsen Online more people use the web for social networking than email.
In fact almost 67% of people use the internet mainly for accessing and participating in social communities.
Given the number of people involved in these communities it allows businesses of all size access to the same customer base.
Small businesses are able to then compete with the bigger companies by connecting to their customers directly.
Then based on positive experience word of mouth will help spread the word about the company.
Advertising on the social networks is also more helpful to small businesses.
Large companies have the dollars to spend on TV, radio, or print advertising on a regular basis.
Smaller companies might be able to purchase those spots once in a while but probably not as much.
Well, advertising on the social web is more cost effective and you can reach your audience much more directly which makes it a much more valuable tool.
The real advantage about the social web though is the ease of access to your customers.
Large companies are using the social web too but the nice thing about that avenue is it is more of an equal playing field.
Small companies have the same access as large companies and they are all communicating with the same customers.
Sure larger companies have more resources, whether people or money, to devote to their projects but that does not necessarily make them more effective.
The key to success on the social web is to know your audience.
You have to know who they are, where they are, what they want, and what the most important factors to them are.
If you are able to learn the important information about your customers you can be just as successful reaching them as your larger competitors are.
Add that to the fact that most small businesses do not have near the budget as larger companies.
So tasks that large companies perform without thinking twice about it, such as marketing, a small business owner needs to spend more time on.
Many small businesses do not even have any marketing efforts at all let alone a marketing department.
One of the big reasons why, is the cost of such a unit.
There just isn't enough money or time to complete all the tasks necessary to maximize a company's profits.
Well thanks to the rise of social networking sites and social media those efforts are becoming more time and cost effective.
In a recent study by Nielsen Online more people use the web for social networking than email.
In fact almost 67% of people use the internet mainly for accessing and participating in social communities.
Given the number of people involved in these communities it allows businesses of all size access to the same customer base.
Small businesses are able to then compete with the bigger companies by connecting to their customers directly.
Then based on positive experience word of mouth will help spread the word about the company.
Advertising on the social networks is also more helpful to small businesses.
Large companies have the dollars to spend on TV, radio, or print advertising on a regular basis.
Smaller companies might be able to purchase those spots once in a while but probably not as much.
Well, advertising on the social web is more cost effective and you can reach your audience much more directly which makes it a much more valuable tool.
The real advantage about the social web though is the ease of access to your customers.
Large companies are using the social web too but the nice thing about that avenue is it is more of an equal playing field.
Small companies have the same access as large companies and they are all communicating with the same customers.
Sure larger companies have more resources, whether people or money, to devote to their projects but that does not necessarily make them more effective.
The key to success on the social web is to know your audience.
You have to know who they are, where they are, what they want, and what the most important factors to them are.
If you are able to learn the important information about your customers you can be just as successful reaching them as your larger competitors are.
Source...