Social Media – Can the average small business monetize it? – Follow up one year later
A year ago I posted an article titled Social Media – Can the average small business monetize it?. During the past year I have had the opportunity to work with several small businesses and can happily report that yes, the average small business can indeed successfully monetize Social Media…
… but not without a plan.
The businesses that were successful carefully built their social network and created content that was meaningful and engaging to their audiences. Common to all was a tactical plan – frequent, regular postings. Some used paid advertising to increase traffic, others did not. Content that worked well showcased products and services and told a story of benefits and happy customers. In addition they all used complementary online venues to reach their target market. They all measured the results of their efforts against expectations.
Yes, they built it and people came, and once they came, a defined sales process took over and to make a long story short, business was closed. As a result, each business gained more opportunity for word of mouth and referrals to develop.
- Was it easy? No.
- Did it happen by itself? No.
- Were the results random? No.
- Did it take a lot of time commitment? Yes
- Was it worth it? Yes
- Is a plan important? Absolutely!
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