When you think of social media such as Facebook and Twitter, you may think of teenagers using it as a way to communicate with each other online. In reality though, social media networks can be a highly effective way for businesses—large, medium and small—to build a brand, garner the attention of prospective customers, communicate with current customers and boost business sales.

When used effectively, social media marketing can help you and your business accomplish all of these goals without having to increase your marketing budget. In fact, many businesses are implementing social media marketing campaigns and cutting expenses at the same time. While you may not be the person in your company that is responsible for deploying social media or other types of marketing campaigns, it’s still important for you to understand the power that social media holds.

There is a secret marketing tool hidden in the depths of social media networks. You’ll quickly learn that this marketing tool is not just for teenagers or even marketing managers, but is also highly effective for executives to use for the overall good of the company. Uncover the layers of advantages that social media holds while also learning some of the pitfalls you’ll want to avoid. You’ll also see specific examples of how companies integrate social media into the various aspects of their business. Social media is a tool used to build credibility, establish a rapport with consumers, boost sales numbers and increase the amount of repeat business the company receives—all without spending additional money or wasting a lot of valuable time.

Social Media Basics

Before launching into the depths of social media, let’s first take a look at some of the basics. Once you have a basic and true understanding of what social media is, it will be easier for you to see how you—even at the CEO level—can use it to advance your business efforts in a more time and cost effective manner.

In reality, the health of your business may depend on your involvement in social media. As the Internet evolves more and more each day, year after year, if your business efforts and strategies don’t evolve with it, your business may be left behind. And businesses left behind tend to lose out to its competitors—even causing some to have to close their doors forever.

 Social media is a form of indirect marketing (it’s a soft sell approach).

 Social media does not involve creating an alter ego that you only use online. Social media, especially when referring to social media networking, is similar to attending a weekly networking event such as the Chamber of Commerce cocktail hour. People tend to do business with people they like, that are credible and that offer a product or service they need or want. The only difference between networking at a physical networking event and using social media is that with one, you’re doing it face-to-face and with the other you’re doing it online.

You should also be yourself when using social media. This will help make your transition into social media networking easier and more seamless than if you’re trying to portray something or someone that you’re not.

Second, social media is not a light switch. Just because you start using social media doesn’t mean you’re going to see a flood of new business from your efforts right away. Like any marketing strategy, social media marketing and networking is a process that happens over time. Once people get to know you, your business, products and services you’ll be pleasantly surprised at how much business—new and repeat—it can bring.

Third, social media is a sharing tool, not a hard sell tactic such as an advertisement in a local newspaper or a sales call. Social media is a sharing mechanism that takes word-of-mouth advertising to a completely new level. When you’re using social media to share relevant and insightful information with your audience, you’re creating a following and a bond with your followers that can become unbreakable. People bond with people who they respect and are like-minded. While you may be the one providing advice, you’ll be amazed at what you learn about your industry, your own business and your customers—things that influence your personal point of view and how you conduct business—while interacting with the members of your social media networks.

Social Networks

·          Twitter

·          Facebook

·          Linkedin

·          Meetup

·          Ning

·          MySpace

While these may be some of the more common social media networks, not every network is right for every CEO or for every business. Since social media networking does require your time, you want to make sure that you’re using your time wisely by finding the right networks for you. If your business has a local rather than a global focus, there are also social media networks that allow you to target your local community in order to reach your target audience.

Local-focused Networks

• Yelp
• Biznik
• City Search

There are also social media networks that are industry specific. No matter what type of business you’re involved in, there are social media networks out there that can benefit you and your business.

Questions to Answer to Find the Right Networks

·     Which social media networks have groups where your customers belong?

·     Where is your customer?

·     What networks are your competitors using?

·      Where can you find your current and potential referral sources?

Other Social Media Tools

Social media has taken on a life of its own and many think of networks such as Facebook and Twitter as the face of social media. The truth of the matter is though that there is a variety of other social media tools—some that started before these other networks took flight.

Blogging

The Associated Press recently released the results of a study that showed more than one million bloggers use blogging to generate a full-time income. If a blog, which is another form of social media, can be such a powerful source of business that people pay their bills solely from this activity, then imagine how much a business blog can boost your business when it’s one of the social media tools you use. Blogs tend to attract readers who are searching for information on the niche topic your blog covers. Blogs provide a platform for business owners and employers to allow their personality to shine through and connect with readers on a more personal level while maintaining a professional platform.

Video

Another form of social media is video. When you upload videos to sites such as YouTube, again you are reaching an audience that you may not otherwise have had an opportunity to reach. Similar to blogs, when you create videos, you’re sharing relevant, useful and insightful information. Not only can you upload your videos to social media websites, but audience members can also forward and share your videos with friends, family and other people they think will benefit or have an interest in your topic. It’s the online version of word-of-mouth marketing that is not restrained by geographical factors.

Podcasting

Podcasting takes on a radio show format. The only difference between a podcast and a video upload is that podcasting is an audio format without a visual component. Podcasting is a way for your audience to take your message with them on the go because these podcasts are downloadable to MP3 players, iPods and more.

Next week, we’ll dive in deeper to the benefits and strategies of social media, as well as a few companies who are using social media to drive brand image and recognition. See you then!