In the past few years social media sites such as Twitter, LinkedIn, and YouTube and others have revolutionized the way businesses go about networking. Whether promoting themselves to customers or journalists, or gathering market feedback, major corporations and small enterprises have begun leveraging the power of online social networks. Let’s examine this growing phenomenon to see how it’s applicable for many businesses.

Is Social Media really here to stay?

The statistics below indicate that this is not simply a fad, but a real paradigm shift.

• 88% of marketers are using social  media
• 67% of global web-users visit social network sites
• 10% of all time spent on the internet is on social media sites
• 77% of all active internet users regularly read blogs

Not surprisingly, the media has been focusing on the rapid adoption of social media and its various benefits and applications, but to really capitalize on these tools, we need to take a closer look at what they are all about.  Only then can we discuss how best to implement social media, from the perspective of a startup.

What are some of the social media networks out there and what do they do?

The following are 3 popular and important social media sites:

• YouTube is a site owned by Google that enables individuals and businesses to post video content.  It has been ranked as the fourth most visited website on the Internet, with over 100 million viewers watching around 6 billion videos each month.
• Twitter is a free service that allows members to send short messages (known as “tweets”) to their “followers”.  It recently experienced a 1,382% monthly growth rate with over 55 million monthly visits.
• LinkedIn is a growing business-oriented social networking site that allows users to post their professional or business profiles.  With over 50 million users from around the world, it’s understandable why 80% of companies utilize it in some form.

What is the value of social media networks?

Social media is really about two things; raising awareness of your company and tapping into relevant online conversations that affect your company and its technology.  Today, when such a large percent of your audience is using social media to research just about everything, drawing online attention to your company and learning about your audience’s needs through these networks, is clearly one of the keys success.

The formula for success with social media

The formula for success with social media consists of the following concepts:

• Authentic participation whereby your company is part of the online conversation by offering helpful information that the industry members can benefit from, without any sales-oriented edge.
• Acknowledgement of constituents is expressed by embracing your customer or potential client’s issues or concerns, rather than running from them.
• Brand consistency is created by an unchanging presentation of your company’s value offering, coupled with unwavering commitment to a high level of service.
• Persistence and perseverance will ensure that your social media campaign will yield solid results within 6-12 months.

Some examples of Social Media in action

These real-life examples showcase how social media can positively impact your company and its products.

Raising awareness and acknowledging constituents

A friend of mine is a serious bicyclist and rides a Turner mountain bike. He often posts questions or answers on a popular biking forum for Turner and on several occasions, Dave Turner, the owner and designer of Turner Bicycles, joined forum threads to answer questions, give advice and even explain why his company could not replace damaged parts in certain situations.

My friend noted that the interaction with Turner made him a more loyal customer because not only did Turner provide valuable advice in the convenient setting of the forum, he provided the information personally, forging a relationship which is essential when building up a strong customer base.

Using content creatively to educate your target market

A recent Wall Street Journal article described how Matt Miller, the founder of rugged tablet computer maker MobileDemand, demonstrated the resilience of his company’s handheld computers. Instead of writing about how his design enabled his product to survive crash landings, he created videos for YouTube.  In one clip, his computer withstood sub-zero temperatures, while in another the device was “accidentally” dropped off the side of a mountain, and kept on working.

An additional benefit of utilizing video content is derived from Google’s website search and ranking techniques which diversify results to include YouTube and other media formats in results pages.  Using video content along with SEO (search engine optimization) can leverage this shift to your advantage.

How to begin with social media

Social media is a discipline with unique methods and techniques.  As such, companies that try to do it in-house with little prior experience are oftentimes spinning their wheels unnecessarily.

Many business owners cite ‘time’ as a critical element in deciding whether to employ an outside marketing firm. Out-sourcing social media, while costing them a few bucks, allows them to do what they did best; running their business.

Also of importance, is the fact that marketing companies that are already using social media have created economies of scale, and can pass along their savings to the client.

Clearly, to achieve maximum ROI in social media, it’s wise to out-source it to the experts.

Expansion Media is full-service marketing company with this expertise and brings an integrated approach to social media, with its full suite of tools and services available for their clients.