The BizFilings blog covering business tips and trends.
Social Media: New Technology with an Old-Fashioned Attitude
Published on Mar 16, 2011
Read 'Social Media: New Technology with an Old-Fashioned Attitude' at 'Time to Start Up,' the small business blog by BizFilings.
When forming a company, often the most important marketing tool an entrepreneur has is social media, as services such as Facebook and Twitter provide businesses free access to a population larger than the United States.
A recent survey by the local business network MerchantCircle found 70 percent of respondents use Facebook to promote their businesses - higher than the 66 percent who claim they use various Google software.
So few disagree that social media is here to stay, but where many experts do clash is over how social media is used. How does one determine a businesses' return on investment? How does it compare to a larger company? What sort of content is most effective?
"We're living in what I like to call the Thank You Economy, because only the companies that can figure out how to mind their manners in a very old-fashioned way - and do it authentically - are going to have a prayer of competing," writes Gary Vaynerchuk in Entrepreneur magazine.
This means being respectful, courteous and, perhaps most importantly, personal with "friends" and "followers." While experienced entrepreneurs may be experts on how to incorporate a business, social media poses a whole new set of challenges to the small business owner.
What types of social media do you use to market your business?