5 Reasons Why Social Media is Good for Business

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Social media has changed the way we do business. It has expanded the local entrepreneurial reach and is the cause for many successes in business. According to LinkedIn recent study, 9 in 10 small businesses say they are currently using or plan to use social media to expand their business.

Most people, after meeting you and/or learning the name of your company, within seconds hop on Google to see what appears. What do they see about your personal brand or business? More importantly, what do you want them to see?

According to the Social Media Examiner’s 2013 Social Media Marketing Industry Report, the top two benefits of social media marketing are increasing exposure and increasing traffic.

86% of marketers say that social media is important for their business.

89% of marketers say that increased exposure was the number one benefit of social media marketing.

A recent LinkedIn study showed that 94% of small businesses using social media use it for marketing and 3 in 5 says social media helps to attract new customers.

With social media, you can brand your business on a wider scale, thereby connecting with consumers whom already use social media platforms personally and professionally. If they like what they see, they will connect with you and from there you can develop a stronger connection and business relationship. Here are some ways social media can help grow your business.

1. Exposure. Your reach is significantly further with social media. Social media is a global platform that allows you to connect with people all across the world. Hashtag’s are big in social media platforms such as Twitter and Google+. Create your own hashtag to put a stamp on your brand. Most companies use a hashtag vs. a slogan because it quickly identifies the company and it is easier to remember.

2. Developing Relationships. Connecting with people is essential in gaining new business. Utilizing social media will allow you to relate to your current customers and form new customer relationships. Release content that is relevant, funny, informative or controversial to start up conversation. Interact with your customer base by responding to comments and insight. Many company’s hire a social media person or team to keep the conversation going and remain engaged with their audience.

3. Access to Networks. Through social media, you and your company can develop connections with other networks and organizations. Building relationships on a higher scale by affiliating with well-known experts in your industry is a plus. More often a simple follow from a well known and recognized individual or organization can drive attention to your business and brand.

4. Remaining Relevant and Current. We know that most people check a company’s online presence before doing business with them. Not having current and relevant content and news on social media pages will create a wedge and disconnect between the company and its customers. People want to know what is currently happening and what is to come. Often they look to companies they trust and do business with to deliver this information.

5. Knowing Thy Competition! If you want to remain competitive, you have to be willing to step inside the sand box to find out what’s going on in your industry. How can you compete without knowing what you are up against? Many businesses use social media as a platform to announce new products and services, even before they publish such information with a newspaper or television network. Want to grow? Stay in the know!

To remain successful, it is important to recognize and adjust to industry changes and standards. Growing requires change and change is a necessary element of sustainability. So get out there and tweet, google, facebook and link up on LinkedIn! See you soon!

Profile-Pic.jpgMary V. Davids is the Founder and Managing Member of D&M Consulting Services, LLC. She holds a Bachelor’s Degree in Business Management and a Master’s Degree in Human Resource Management. Mary has over a decade of experience in cultivating employee engagement, enhancing employee motivation and workplace performance, leadership coaching and training & development. She also serves as Secretary on the Board of Directors for the South Florida Chapter of the National Association of African American’s in Human Resources. Book Mary to speak at your next event or hire Mary for leadership & professional development consultation today. Follow Mary on twitter@MVDavids.

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