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As a business, do you fully understand how social media can benefit your marketing strategy? I ask this because, according to research released by eMarketer today, it seems like a lot of small businesses are confused about how engagement in social media can help achieve their business goals.
The way we see it, participation in social media has a number of great business benefits. It can help you demonstrate thought leadership, aid in lead generation, offer a platform for customer support, serve as a promotional vehicle for your content, and more. But ultimately and overall, social media is an extremely valuable tool for generating and increasing word-of-mouth buzz for your business.
Still, many small businesses don't seem to be making that connection...
According to a June 2011 survey by Hiscox, 64% of the small business decision makers surveyed said social media was either not necessary, they didn't know enough about it, or had no opinion; only 12% were frequent users of social media; and 24% participated just occasionally. This research reveals that the majority of respondents are apathetic about the business benefit of social media engagement.
That said, 50% of those surveyed indicated that word-of-mouth recommendations is a marketing tool they can't do without. Furthermore, just about two in five respondents said word of mouth was the main way they generated business. At the same time though, only 4% of respondents indicated that social media and blogging were tools they couldn't live without.
Wait a minute. Isn't there a disconnect here? Word of mouth is obviously a priority for many of these small businesses, yet don't they understand that one of the main benefits of social media marketing is an increase in word of mouth buzz? Isn't social media, at its very core, word of mouth?
In a nutshell, small businesses aren't exactly treating social media as a priority, and with so many of them relying on word of mouth as a key marketing tool, there must be a lack of understanding here.
How Social Media Improves Word of Mouth Marketing
The fact of the matter is, social media can be a great tool to drive word of mouth marketing for your business, and here are four reasons why.
1. It Helps Spread Messages Beyond Your Immediate Network: One of the beauties of social media is that it helps you spread your messages and content not just to your immediate network of fans, friends, and followers, but also to their fans, friends, and followers. Social media makes it easy for others to retweet, re-share, and pass along your content, spreading your messages to more prospects you didn't initially have contact with and generating word of mouth buzz to a larger group of potential customers.
2. It Offers an Easy Platform for Recommendations & Referrals: People are constantly suggesting products and services to friends in social media. Furthermore, people are constantly asking for recommendations. Social media is a great way for people to share their opinions about products and services and suggest them to others in need.
3. It Gives You Control Over Initial Messaging: Because many times your fans and followers will just be sharing your original message with their networks, social media enables you to control your initial messaging. This gives you the opportunity to shape your marketing messages in the exact way you want them to be perceived by prospects.
4. It Help Build Relationships to Encourage More Word of Mouth: Social media shouldn't be a one-way form of communication. Sure, it can be a helpful tool to promote your content and spread your messages, but it's also critical to also engage in a two-way dialogue with your fans and followers. Building good relationships with your fans will also make them more likely to evangelize and spread your marketing messages, increasing word of mouth!
Are you convinced of the power of social media to help generate word of mouth for your business?
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