Growing Social Media Industry Drives Profitability for Small Business

If you haven’t included social media into your business scheme, you’re falling behind the curve. Nearly three-quarters of small businesses have already adopted some form of social media in an effort to get their name out in front of the public ey

New York (I-Newswire) October 26, 2012 - If Fortune 100 companies are doing social media (80 percent of them are), there is something to be said about the impact on business. Those companies are not only happy with what social media is doing for them; most are planning to increase their efforts in the coming year.

Facebook is the top choice for more than 80 percent of the small businesses that have adopted social media, followed by YouTube, Twitter and LinkedIn. Obviously, the website will never go away, nor will email strategies, both of which are the most used method of interaction on the digital map.

Most small businesses executives check their email six or more times a day, and many will check their email first thing when they get to the office. It’s obvious that social media isn’t going to trump the company website or email accounts anytime soon, but its’ still an extremely useful tool.

How are companies using social media? Consider that around one billion people are familiar with and know how to use Facebook. This makes it a valuable advertising tool. But it’s also being used to help companies build problem-solving teams of employees who can all access the same information on one site, and discuss their projects on that same site using the chat tool. But it’s also a communication tool for a company and its clients, which helps to build strong relationships and brand loyalty.

“Social media can provide real-time interactions between customers and companies, which is proven to have an impact on sales and customer satisfaction,” says Vladimir Khaykin, CEO and Chief Technical Officer for Webmaster Studio. “Some studies show that nearly 70 percent of consumers who use Twitter and follow a particular brand will purchase products from that brand. This works because the company is using Twitter to create a positive brand image.”

While many companies use social media to interact and promote their products, it’s also a tool in determining what the public perception is of those products. If the word about a certain product or a marketing campaign is catching criticism from social media users, company executives can make the necessary changes to turn that criticism into valuable insights for future or immediate change.

Every company is concerned with cost, which is another reason why social media works – it’s basically free. The corporate website (likely not free) will likely always have its place, but more companies are adding social media functions to those sites. A link on the site that allows a user to like or add themselves as friends has proven to increase sales.

Public relations workers are constantly trying to get the word out about the positive aspects of a company’s products and services. News bureaus don’t always bite on these news items as hard news, so leaking out onto Twitter and Facebook has become a go-to outlet for these items that are possibly valuable to consumers if not to the daily paper.

Whether it’s Twitter, MySpace, Facebook, LinkedIn or YouTube, companies that avoid social media resources are also avoiding potential profits.

To learn more about Webmaster Studio or request a quote, visit the company’s website at www.webmasterstudio.com