Independent business owners are beginning to recognize social media’s potential to drive revenue.
New research from The Small Business Authority reveals that more than half of the business owners surveyed believe Facebook and Twitter are significant engines of growth for their companies.
After polling approximately 2,200 respondents last month, The Small Business Authority found:
- 55 percent see social media (Facebook, Twitter, etc.) as a significant engine of sales growth for their business.
- 57 percent use Facebook, Twitter or other forms of social media to attract new customers to their business.
- 58 percent use Facebook, Twitter or other forms of social media to communicate with their current customers.
As Barry Sloane, Chairman, President and CEO of The Small Business Authority, points out, it makes sense for businesses to use social media to connect with consumers since the channel can be cost-effective and efficient.
“It is not surprising that a large percentage of our small, independent business owner clients utilize Facebook, Twitter, and other forms of social media to communicate with their clients and suppliers,” he said. “It is clearly the most cost effective, efficient utilization of the Internet particularly for a small, independent business owner that does not have huge resources in staff or dollars. We believe that the early adopters using this form of marketing and communication will be heavily rewarded and late participants will have more challenging entry points.”
Of course, the key –for a business of any size –is to integrate social media into the overall marketing mix. Social media is one of many tools to communicate with customers and prospects. Use it to nurture those vital relationships, but be sure your messaging is consistent and compelling across all channels. By tracking your efforts and measuring results you’ll discover which initiatives are working –and which aren’t –and you’ll learn how to adjust the mix to drive even greater revenue.