Social Media Sensation: Creating Buzz for Your Bottom Line

Social media is becoming a key ingredient in the marketing recipe for your business. There are opportunities and measurable results for businesses of all sizes, and companies are taking notice. According to current research, social media marketing is set to increase at an annual rate of 34% over the next five years, outpacing all other forms of online marketing. In fact, the expected growth rate for social media marketing is nearly double the average growth rate for all online mediums. There's a reason so many companies are increasing their social media budgets - it's proven to be a very effective tool for reaching customers on a new level. Having an active social media presence can help your bottom line, and there are a host of other benefits:

• Interact with your customers directly: Social media gives you a chance not only to engage your customers one-on-one, but you can also hear what they say about your company online. Make sure you take advantage of that opportunity, but don't react harshly to criticism you may see. Every action you take online will be seen and remembered. A great reputation can be spoiled with one misguided post made in the heat of the moment. Build trust for yourself and your brand by consistently adding valuable content, and handle your following with a PR-friendly voice.

• Own your company's social presence: If you don’t already have your own Twitter and Facebook accounts, get them before someone else does. If people make their first contact with your brand online, be sure that you have control over the message. 

• Look like you're "with it": On Facebook alone, there are over 400 million users spending over 500 billion minutes per month on the site, and those numbers are consistently growing. Your target audience is becoming more and more likely to have social media use as an integral part of their daily lives. Customers are twice as likely to do business with someone they identify with. If you're not on Facebook, your customers might wonder if you really "get it".

• Get great feedback on your business: Better than the results of any survey you could send out to your clients is listening to their reactions online following the release of a new product. With social media, you don't have to solicit for responses - something that can often result in misleading data. If you're engaged in social media forums, you'll have your fingers on the pulse of what is really going on with your business, and how people are reacting to it.

• Establish yourself as an expert in your field: Your company profile is a fantastic opportunity to post about your company's activities, as well as relevant news and trends occurring within your industry. By gaining lots of followers and displaying your expertise, people will begin to identify you as a "guru" in your field. This will ultimately lead to people being more likely to trust you (and therefore do business with you!).

Christine McDannell is Co-Founder and President at Social Starfish. Find out more at www.socialstarfish.com  Christine will be presenting at NAWBO-IE's January 19, 2012 meeting.