Social Media: A Swiss Army Knife for SMBs
Social media has become so ingrained in our culture these days that much of the time, we’re not even aware of it as anything “other.” But for some, it’s way more than just a recreational outlet. It turns out that small businesses that are using social media are seeing the biggest gains, according to the 2011 Social Media Marketing Industry Report: from new partnerships to qualified leads to improved sales to reduced marketing costs.
Gartner’s Anthony Bradley defines social media this way: “At its foundation, social media is a set of technologies and channels targeted at forming and enabling a potentially massive community of participants to productively collaborate. IT tools to support collaboration have existed for decades. But social-media technologies, such as social networking, wikis and blogs, enable collaboration on a much grander scale and support tapping the power of the collective in ways previously unachievable.”
One company that’s doing exactly that is FanAxcess.com, an Oakland, California-based start up that aims to match up-and-coming musicians with potential brand sponsors, while also creating a simpler and more cost-effective pathway for advertisers to reach target markets.
Brands are always seeking fresh ways to differentiate—and personify—themselves with standout spokespersons. But, that can be tough when there’s always the same pool of big fish to choose from. “We provide a forum for artists to create very specific profiles that give insight into who they—and their fan bases—are. So, if you’re an advertiser, you can search artists by audience (based on their social media fans across sites or, their average number of live fans), by genre, by eco-friendliness (or other indicators), and by upcoming tours and promotions,” explains Suzanne Mino Koga, co-founder, artist manager and music marketing consultant. This creates a dynamic library for advertisers to source from, to find just the right match in terms of brand feel/aspirations and audience it wishes to target. “And along the way, musical artists can tap into new potential revenue streams and raise their visibility,” adds Koga.
For other businesses that use social media such as Yelp, Facebook or Twitter as a way to market and build community with their customers, there’s something else to think about: the caliber of the type of customers you attract when you engage in social media. These folks are more digitally connected. And that means they can be a powerful form of advertising on your behalf. So when your customers come to your place of business, you need to provide guest wireless access to let them be your spokespersons and to keep them coming back.
Consistently monitoring social media activity is also critical. In fact, according to Indaba, 66% of businesses were using or were planning to use Social media monitoring for their business. Remember to watch out for potential security issues, as pointed out in a recent Cisco Small Business blog: As the line between personal and professional blurs, employees who might monitor or update your accounts could unknowingly introduce malware picked up from their own personal accounts.
Just as a Swiss Army knife can be a great productivity tool, so can social media—with care and clarity around how you want to use it, you can expand your community of customers and partners. Not only that, you can sharpen your results: If customers can be more productive interacting with your brand—and amplifying their experiences—you’ve carved out a really great success story.
If you’re going to be in Houston next week, be sure to register for The Small Business Tour: Time to Thrive, on June 7. Cisco executive Lief Koepsel will talk about how small businesses can use social media—as well as cloud and mobility—to reach new levels of productivity and success.