Social Media: Revolutionizing Business

Over the last 20 years, with the invention and popularization of the Internet, the traditional mediums that companies used to advertise, inform, and simply connect with their consumer base have change drastically.  In fact, the traditional organization of a business has also been revolutionized.  Now there are thousands of businesses that are run out of individual homes, forgoing the typical brick-and-mortar companies that were abundant before the Internet.  For example, my friend's neice just started her own business online at a site called etsy.com.  This brilliant idea for a website allows users to have their own “shop” wherein they are able to sell vintage and/or handmade items.  Because of this, potentially millions of stay-at-home moms, craft makers, and people with hobbies making things can actually make a profit doing the things they love to do—without leaving the house.

Social Media-Leveling the Playing Field:

Normally a business would have a marketing manager in charge of all of the advertising campaigns, launching an expensive, extensive, and very broad-reaching commercial crusade using many different mediums, resulting in a fraction of the people reached who actually respond to the ad.  For the people with “etsy” shops, all they have—and need—is social media.  With the developing of sites like MySpace, Facebook, Google+, YouTube, Twitter, and many more, market outreach and advertising have been revolutionized.  Anybody can use these sites to any extent, to either benefit and/or hurt a business.  With the smaller, personal businesses, a seller relies completely on friends and contacts to spread the word about the shop.  For larger companies, it is much different.

Marketing Revolutionized:

To the companies that used to spend millions on marketing, social media could be considered a godsend.  Although they still have to maintain traditional marketing strategies to some degree, it isn't nearly as costly.  Using Facebook, for example, setting up an account is free, and everybody who “likes” the page will get the automatic updates the merchant sends.  This narrows the outreach to current customers and exposes the business to many potential new customers when their “friends” like that page as well.  This drastically decreases the seller’s Customer Acquisition Cost (CAC) because it is completely free.  A seller can pay for additional ads that will specifically target people with similar likes and interests as the general customer base.

Marketing to Public Relations:

Aside from the marketing advantage, social media allows a company to connect more deeply with its customers.  This, unfortunately can be a double-edged sword.  Social media is just that: social.  If there is any type of scandal in a business, everyone with a Facebook or Twitter account can know about it within minutes.  The lightning speed of bad news can result in a PR nightmare—just ask Domino’s Pizza.  Because of this, you will need to be extra vigilant maintaining a good relationship with your customers, which can only help.

In addition to managing public relations, Facebook gives the seller a direct line to customers, getting fast, honest feedback about products or commercial campaigns, even including them through contests and giveaways.  Take Doritos for example. The biggest TV commercial event of the year happens on Super Bowl Sunday.  Companies plan very far in advance to make sure their commercials are funny and memorable.  Doritos was running out of ideas, so they did something ingenious: had their customers come up with ideas in a contest with not just prizes, but the ultimate prize: a spot in the Super Bowl commercial lineup.  This strategy has been extremely successful, probably more so that they had ever imagined.

Every business, from a cottage industry to a large corporation, must understand that social media is here to stay.  It can be one of the greatest vehicles for mass advertising the world has ever seen, and using it properly can be a great advantage to a business.

About the Author: Rick Delgado is a freelance writer who specializes in the latest social and technology trends. He is cur

How to increase business productivity on a tight budget

Practical tips to help make the most of your business even when faced with cutbacks or a tight budget. 

One of the biggest challenges facing small and medium businesses is how to manage growth when the market isn't working in your favour. 

At the end of the day, it's all about looking at your budget from a new angle and making smart decisions about the best way to use it - that way you can keep your business on track and stimulate growth even in a difficult economic climate. 

But how? Take a look at a few practical tips to maximise the potential of your business and stretch your budget as far as it can go… 

Trim the edges: 

When you're trying to stretch every last penny, looking for ways you can trim down on expenses can go a long way. You might be surprised at the money you could save by implementing a few simple changes. Areas to consider include:

Travel expenses - how much are your employees travelling, and is it absolutely necessary? For example, by implement a video chat or conference call policy for internal meetings you can save travel expenses and your employees can spend that time at home - helping achieve that important work-life balance. 

Office supplies - paper, toner and envelopes might seem innocuous but when every pound counts this is a good place to start as many companies find their supplies amount to excess expenses. Keep an inventory of everything you have and how often it's being used up. Encourage employees to donate any free promotional materials - pens, notepads, pencils - they might have received at a conference back into the supply cupboard. Finally, wait to purchase supplies in bulk or when there is a large sale on, that way you can pick up the essential items you need at a fraction of the cost you might have otherwise paid. 

Utility providers - The same way you want the best deal for your home, you should be looking for the best deals with your utility providers. It's unrealistic to think your office could run without electricity or the internet, but that doesn't mean you should give up on savings. Many providers offer bundle deals or will undercut competitors so it's worth spending some time to shop around and find reliable providers that will help you ease your monthly expense. 

Investing to save money :

This might seem counterintuitive but really it's all about increasing efficiencies across your business. Are you still using old systems that are doing more harm than good? Investing in new technology, a new training program, or HR tools can improve efficiency both by motivating employees and helping them get their work done - something that promises a far greater return on investment.  Areas to consider might be:

Health insurance - Right now, small business health insurance might not be on the top of your priority list, but maybe it should be. Keeping your employees fighting fit is a great way to cut down on those lost days due to illness, and can also help reduce the stress they might be feeling about medical bills.  With their health in check, they can focus on feeling their best and making the most of the days spent in the office. 

Technology - choosing the right technology can completely transform everything from the way you bill your clients to how you do business. Consider any areas of your business that might benefit from going digital - integrating technology will go a long way to aiding growth and providing accurate insights into exactly how and what your business is doing every step of the way.

How To Use SoLoMo To Improve Your Business

There’s a new phrase in town that encompasses all the popular platforms used by individuals to make buying decisions—SoLoMo. SoLoMo refers to the combination of social media, local commerce and mobile devices, all of which are highly used by consumers today when it comes to making purchases. So how can you use SoLoMo to improve your business?

Get on social media:

If you have yet to join a social media platform, it’s about time that you do. According to a 2012 Statistic Brain study, 56% of people in the world use at least one social network, which means that you’re missing out on a large audience if you don’t have a social presence yourself.
Consumers use social media for a variety of different reasons. They use it to learn more about companies and their products and services, and they also use it for customer service inquiries and to gain access to special promotions. Consumers also use social media to ask their virtual friends for advice or to leave their own experiences with certain companies for all to see.
If you really want to improve your business with SoLoMo, the first thing you need to do is get on social media and use it to engage your followers.

Worry about your local presence:

Customers are regularly using the Internet, social media and smartphone apps to locate local information. For example, consumers are likely to turn to Foursquare or Yelp to locate restaurants in their area when they’re hungry or turn to Google to find information on other local businesses. Because of this, you need to make sure that you are implementing a strong local commerce strategy.
Make sure that your company claims your business page on popular online review sites like Yelp, Foursquare and Google+ Local. Yelp and Foursquare have apps that make it easy for consumers to use on their smartphones, which can be beneficial to your SoLoMo efforts. You’ll also want to make sure that these pages, along with your website page, contains information on your location, such as your physical address or the areas you serve. This way, if a search is performed in your area, your business will be more likely to appear.

Invest in mobile opportunities:

The use of mobile as a marketing strategy is extremely popular. In order to get the most out of SoLoMo, you want to make sure that your mobile marketing efforts are strong. First and foremost, you want to make sure that your website is optimized for mobile. This way, customers using smartphones or tablets will be able to access your website while on the go. This way, if your site appears while they’re using these devices, they’ll be able to access information on your company. You’ll also want to make sure that you invest in a mobile marketing strategy, such as SMS marketing. Customers can opt-in to receive special texts from you that provide them with exclusive information or discounts for your company. You can also use geo-location tools to track nearby customers and send them promotions to get them to visit your business while in the area.
SoLoMo is a popular strategy for today’s businesses, and if you truly want to succeed and improve your business, this is how.


Jessica Brown is a reviews tracker and avid blogger.  She has recently been teaching others how to incorporate SoLoMo into a business' strategy.