Posts Tagged linkedin

Small businesses benefit most from social media

In recent years, ‘[social media has moved from uncertain strategy to primary tool in the savvy marketer’s toolkit and it seems the self-employed and small business owners are reaping the most benefits]’, according to Michael Stelzner author of the 2011 Social Media Marketing Industry Report.

Of the 3342 marketers surveyed, 47% were either self-employed or small business owners. Here are just some of the areas where they reported greater results from using social media than their peers

  • Almost 90% reported increased exposure in an increasingly noisy marketplace
  • At least 59% developed new partnerships
  • They were twice as likely to find qualified leads
  • 48% saw improved sales as a direct result of their social media effort
  • Almost 60% reported reductions in marketing costs when using social media

But when small business owners have so many demands on their time, just how much time needs to be invested in social media to reap the benefits? Perhaps not as much as you’d think, with 75% of survey respondents reporting increased traffic and twice as many leads generated with as little as 6 hours a week on social media.

According to the report, almost all marketers have four tools in their toolkit; Facebook (92%), Twitter (84%), LinkedIn (71%) and Blogs (68%), with small business owners more likely than others to increase their use of LinkedIn during 2011.

Not all are going it alone, with 34% of small business owners reporting that they outsource at least part of their social media for growth. Tasks being outsourced include: design and development (17%), content creation (10%), analytics (10%) and monitoring (7%). Somewhat surprisingly, only 6% are outsourcing or seeking advice regarding their strategy.

It is also encouraging to see that marketers are integrating their social media efforts with other emarketing and more traditional marketing strategies, with 64% reporting a desire to increase their use of SEO and email marketing, as well as webinars, teleseminars, event marketing and press releases.

As Michael says ‘small business owners are finding great value in social media marketing [and] in many cases, they’re benefiting more than their large company peers]’.

Refer to the 2011 Social Media Marketing Industry Report for more insights into how social media can help businesses of all sizes and levels of experience. And for more helpful hints, tips and resources I also recommend Small Business News: Small Biz Social Media Guide.

References:
Michael Stelzner 2011, ‘2011 Social Media Marketing Industry Report’, viewed 25 April 2011.
Phil Mershon 2011, ‘Small Businesses Benefit Most From Social Media – Study Reveals’, viewed 25 April 2011.
Small Business Trends 2011, ‘Small Business News: Small Biz Social Media Guide’, viewed 25 April 2011.

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Are professional associations at risk of becoming redundant?

Australia has over 200 industry associations spanning professional areas such as public health, nutrition, sport, nursing, business, accounting, finance, law and marketing, just to name a few – but are these associations at risk of becoming redundant at the hands of the social media boom?

That is certainly the argument being made by online marketer and chief executive of Lead Creation, Toby Marshall in a recent BRW article titled ‘Industry associations lose ground’ and I’d have to agree.

As Toby points out, industry associations were traditionally set up to connect people professionally; facilitate networking; share information and knowledge through conferences and seminars; facilitate professional development; lobby governments and, in many cases, provide accreditation. However, social media sites such as LinkedIn can provide many of these functions for free, leading many professional association members wondering whether their annual fees are still providing value for money.

Social media groups certainly seem to dilute some of the traditional advantages of association membership, but will they eliminate the need for having professional associations all together?

For some industries, being a member of a professional association will continue to be important in terms of endorsing or adding credibility to your qualifications; however, for others the lure of social media’s ability to offer a wider range of information, varied commentary and increased engagement is likely to force many associations to consider integrating social media into their current membership offering or risk a reduction in membership numbers (and therefore revenue).

If professional associations are to survive in this era of social networking, they will undoubtedly have to adapt to better serve the needs of their member cohort. Certainly some appear to recognise this and have developed online newsletters and webinars to enable online professional development; however, many still fall short of their potential to provide online networking and relationship building opportunities.

So how can professional associations use social media to provide members with a place to connect and build relationships at their own convenience?

One solution would be to create a networking section on the association’s website in addition to developing and maintaining a presence on Facebook and LinkedIn, then facilitating engagement by giving members an opportunity to contribute blog posts, start discussions, and post news updates. Associations could also create a Twitter list for members, and through the association’s own twitter account, routinely link to member tweets and posts. Doing so would enable the association to become a valuable social networking channel for members, providing them with a place to network in their own time, on their own terms, and in the comfort of their own home.

Would you consider membership of a professional association that didn’t provide a social media offering to members?

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