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7 Ways to Strategically Use Social Media and Social Networking to Grow your Business

What is social media? According to the “Social Media for Small Business” presentation, “it’s a fancy way to describe the zillions of conversations that people are having online.” Some of these conversations are happening at LinkedIn, Facebook, Twitter and in virtual worlds such as Second Life. As you have these conversations, some in real time, you network to grow your business.

A good way to initiate these conversations is to create content that’s fun, informative and relevant to the needs of your target market. Consumer engagement is key.

To successfully use social media on a much wider scale, you must set up a small business marketing communication strategy that integrates both traditional and digital tactics.

It can be managed at a reasonable cost and with minimal resource allocation. The first directive is to begin with the end in mind. Before you do anything, answer these five questions:

• What are you trying to accomplish (goals/objectives)?
• When do you want it to occur?
• Why will anyone care?
• Who are you trying to reach?
• How will you measure (impact-ROI) success?

Now that you’ve answered these questions, let’s move on to ways you can use social media and social networking strategically to grow your business!

1. Appoint someone in your organization to be the champion, or Chief Digital Evangelist (CDE). Behind every great business is a star CDE. Preferably, they have mastery of sales, marketing, technology and social interaction. The CDE strives for consistency, continuity and robustness. As you grow, so will your digital reach. Nurture the conversations and determine how you can do business together (generating revenue is not a bad objective; it just should not be the only objective).

2. Get training on how to manage online communities. To use digital media strategically, determine who you are going after (customers preferably) and what you should and should not be doing to ensure effectiveness. How do you choose a social medial consultant or educator? Kyle Lacy offers some great advice in “25 Steps to Choosing a Social Media Consultant and Educator.” The bottom line: The more you know, the faster you’ll grow.

3. Manage your online reputation. Consumers say whatever is on their minds about you and your company, but your reputation is on the line when comments turn negative and pop up in the blogosphere, Twitter and Facebook. That’s why a CDE’s role is crucial for monitoring and managing online conversations should something go awry. Stay on top of online buzz and know who your key influencers are. At the very least, set up a Google Alert on your name and your company’s name. Don’t like what you hear? Step in; say something. Create a forum, corral stakeholders, and start talking!

4. Attract talent by using social media and networking. The only way to capture talent is to aggressively and creatively engage folks from all social media and networking channels. Find potential candidates on LinkedIn, Twitter, Facebook and get acquainted. Many companies and job seekers start out this way. It can be an extremely powerful tool for matching great people with great companies. Use your peers for ideas and introductions. Keep up to date on who interests you. Be first up to bat when an opportunity strikes.

5. Consult with your lawyer to ensure you don’t get sued over online conversations. Find out what you can and cannot say on a blog or within a network community. There are a ton of new rules out there and you don’t want to get caught breaking one. Submitting comments under pseudonyms is bad practice and can lead legal predicaments. Don’t fall into this trap and be caught unaware.

6. Experiment with social media and networking until you get it right. Cisco hosts 12 blogs addressing a variety of audiences for their global business; Dell leverages numerous social media platforms for customer engagement, including an island in the virtual world of Second Life; H&R Block created a Facebook fan site to aggregate its social media activities, engage customers and offer tax advice and resources. These examples and more are listed in “35+ Examples of Corporate Social Media in Action.” Any idea can be scaled, applied and managed by an SMB!

7. Answer questions. Once you join communities, start conversing. Answer questions from users with genuine care, respect and expertise. Refrain from the, “I echo what so-and-so said,” just to have your name and title show up in the daily digest. Members are looking for ways to network, cut corners, save money and grow their base, whether personally or professionally. They can see right through shallow comments. Don’t give them a reason to tune out.

Build a strong social media and networking strategy and you will keep your customers engaged and your business prosperous for the long haul.

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