Is Social Media Marketing just for “the big guys”?

Are you a small business owner who believes social media can’t help you grow your business?  Do you wonder if social media just the latest craze in the marketing world? Or will your business actually suffer if you don’t embrace it? To determine current trends, let’s look back to the past a bit. 

The “baby boomer” generation is famous for coining the phrase, “It’s not what you know, it’s who you know.” When there are several equally qualified people for one job opening, your network is invaluable.  This concept holds true — not just for people on an individual level, but for business-to-business networking.

Historically, how did one grow their network of people and increase their marketing reach? We have gone from a water cooler, country club, and neighborhood society to a global marketplace. It is no longer feasible to rely solely on historical marketing concepts. Word of mouth is the primary factor behind 20 to 50 percent of all purchasing decisions. This word-of-mouth marketing momentum directly correlates to the rise of social networking sites and how people make decisions on what to buy with whom to do business. 

Let me explain how spending just 10 minutes a day on social marketing can enable a small business owner to generate true ROI. This example is actually a very personal one, as it has to do with my own business.  Over a year ago, I decided to jump on the Social media bandwagon.  However I am a busy entrepreneur, so I could not devote a lot of time and effort to the process.  I told myself that I would spend no more than 30 minutes a week researching and posting about topics of interest to my target market. 

Fast forward to this past 3 months:   I have connected with several hundred people, built a “fan base” of individuals who are engaged in the topics about which I post to my blog and other social networking sites.  I have gained three clients out of this effort and currently negotiating with two more.  Now I would call that a significant return on my investment! 

It is true that people who know, like and trust you will do business with you.  I think of my social media sites like the water cooler conversations of the present.  How much “word-of-mouth” momentum are you getting these days?