Some months ago I was at an event sponsored by IBM and the Telegraph Business Club and was thinking, “am I good at spotting opportunities?”
The emphasis of the main talk was on trends of how more Small and Medium sized companies will do business in the future. Although the audience were a bit sceptical, the statistics are showing that more networking and communication is taking place via social network sites etc.
So here are some questions I think every business owner needs to be asking:
1. How long do I want my business to be around for?
Sounds like a simple question, but the answer does have its consequences. First, if your target market are 21 year olds and above, then in 10 years time these are the 11year olds of today; if in 10 years time you are going to be marketing to 35 year olds and above, then these are the 25 year olds of today. So here is what I am thinking: are some of us missing the opportunity to begin the change now or are we waiting to hear, ‘I told you so?’
Twitter, Facebook, Myspace, Blogs, Linkedin, etc are becoming part of many businesses’ strategy to build relationships with potential and existing clients.
2. Is it worth the time?
I think this is what a lot of us are asking; how much time do I have to invest in this before I get a return on my investment? My thoughts would go back to question one: If your target audience are in this platform, then learn to embrace it! The future of your business lies in the hands of the clients and customers you will keep and the ones you will attract in the future.
3. Where do I start?
You know, this is a question I have asked myself – I would suggest first doing some internet research on your topic of interest. Make a few comments on some blogs and forums, begin writing your own thoughts and set up a blog.
The main challenge I think majority of people have is the commitment that is necessary e.g. updating fresh content could be an issue, but if it is something you are passionate about, I think something will always flow.
What do you think?
I don’t see myself as an expert, however, I do have a few friends that know this industry inside out. I am thinking of doing a few teleseminars giving them a chance to teach us how to make the most of this. Do you think this will help you? Your feedback and any comments on this will help.
{ 6 comments… read them below or add one }
Are there any statistics to be had that show which of these SM platforms delivers best for different industry sectors? With so many of them, it looks impossible to keep abreast of them all.
Really good question, I don’t have any specific stats as the industry is still young, however on a general note, facebook seems to be popular for B to C industries while Linkedin for B to B, platforms such as twitter are used along side these two. Hope this helps? As I said, I am currently working on some teleseminars with some experts in this filed so stay tuned!
I do think a lot of people are looking at websites and social media as a panacea for attracting clients and doing business. I think it can be full of mirrors and smoke screens.
Yes there are businesses that have done very well with it all. I have found too many people thinking that is all they have to do and sit back and wait. Usually nothing much happens. People must realise that for most businesses yet, it is still about getting in front of a real live prospect and doing the business eye ball to eye ball.
Yes you will get a trickle through these other fancy ways and yes it is a useful must have reference for a business, but use it as a means to get in front of prospects and as credibility once you are.
You are right Peter, I don’t think anything will ever beat facing a potential client eye ball to eye ball especially with service businesses so I guess the need for an enrollment process is essential. At the same time businesses can use Social Media to keep their clients and potential clients informed of new developments, promotions and any other activities. Thanks for your comment
I absolutely agree that online social networking seems to be an untapped resource for business marketing and PR.
I would say 70% of business I have generated in the last 18 months are down to my presence on Facebook. It however helps if you design or produce a visually appealing product and make time to interact with the people that respond to your product in order to turn the interest/ enquiry into an actual sale.
Wow! What a fantastic story of success! Great Job