Switchfast Blog: The Future of IT
Report: Most Small Businesses Plan on Marketing Online, But Skimp on Social Media
Monday, December 06, 2010 by George Tobin
Small businesses budgeting for 2011 are faced with allocating
limited resources across several areas of need, including
advertising and customer acquisition. Faced with a multitude of
ways to spend their precious marketing dollars, some may focus on
print advertising, telemarketing, websites, or attending events.
However, according to a recent
report on Inc.com, many small businesses are ignoring social
media, despite its tendency to be very inexpensive, in favor of
search engine optimization (SEO) and websites. Why are so many
small businesses neglecting social media to focus on websites as
the core of their business growth?
Despite grand predictions for social
media growth in 2010, the Inc.com report indicates small businesses
have been slow to integrate Facebook or Twitter into their
marketing plans. Social media presents a tantalizing opportunity
for small business budgets, with equally unlimited opportunity to
be a platform for branding as well as new business generation. With
millions of users ready to promote through word of mouth and engage
with businesses, social media can offer free advertising and
real-time communication with a growing audience of customers. How,
then, to explain the lack of adoption in small business?
The value of website and search engine marketing has been
clearly drawn to even late adopters -- with yellow page use
declining, potential customers are turning toward Google, Bing,
and Yahoo to find places to do business. Unlike these proven
marketing investments, the allure of social media begins to fade as
businesses try to determine the "how" and "why".
For a small business with constrained resources, it can take
some dedicated brainstorming to think up promotions, offers, and
content to offer up to potential customers - not to mention the
daunting challenge of defining a target audience to seek out on
Twitter and Facebook. Growing a following organically can be
frustratingly slow and requires a separate investment to attract
individuals on social media networks. Facebook and Twitter
advertising is still in its infancy and attempting to promote a
product or business will be a less targeted affair compared to
Google's AdWords or AdSense.
Finally, the return on these investments can be scarce and
ephemeral compared to website and search engine investments.
According to
this article, businesses with a purely financial approach will
be frustrated. While excellent for branding and developing trust
with customers, transmuting hundreds of fans into paying customers
will be a challenge. This is especially true for
business-to-business services with a narrow target market, or
nonprofits competing for public support against nationally-based
service organizations. For small businesses constrained by time and
resources,social media may be neglected in 2011
However, the opportunity to brand your business with social
media, engage with your community, and contribute value through
articles, comments, and links should not be overlooked. With even
5-10 minutes per day, you can establish a vibrant presence and
begin growing your audience. Will your business invest in social
media marketing in 2011? Share your stories of social media success
with us!
Until next time -
George Tobin
Switchfast Technologies
Chicago IT Support &
Consulting
Rochester IT Support &
Consulting
Outsourced Marketing
Services
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