Social media, or the practice of online users generating and sharing content, photos, and videos, has revolutionized the digital world. Originally designed to help friends and acquaintances connect and build online communities, social media has evolved to become an important business marketing strategy.

Networking and Marketing Revolutionized
Social media is significantly changing the way people do business by making networking available at the user’s convenience. Networkers can now interact at any time of the day or night, and from any location offering an Internet connection.

Social media marketing produces leads, increases website traffic and awareness, and promotes new business partnerships. According to Michael A. Stelzner’s Social Media Marketing Industry Report: How Marketers Are Using Social Media to Grow Their Businesses (March 2009), 81 percent of all marketers surveyed reported their social media efforts have generated exposure for their businesses.

Additionally, more than half of respondents experienced an increase in search engine rankings, which has important ripple effects. "As the search engine rankings improve, so will business exposure, lead generation efforts and a reduction in overall marketing expenses," Stelzner explains.

Linking drives website traffic back to the site that originated the content, which builds legitimacy for it in online search engines. It also helps increase awareness and creates a community of followers, or fans, who return to the site regularly. This leads to sales and strengthens brands.

"One of the greatest benefits of social media is the tendency of a community to create links to good content. A passionate community is a linking community. Relevant topics gain momentum as viral channels grab information and distribute it to the rest of the world," says Stephen Nold, Tradeshow Week Event Tech blog, July 22, 2009.

These users are all business customers and prospects, and social media offers businesses the unique opportunity to connect with them and listen to their thoughts and concerns. Some major corporations have Twitter accounts just to monitor customer chatter, discover how their competition is doing, and determine where product improvements should be made.

"Twitter is an open market of conversations. All conversations are happening in a natural language and happening between real people who are not being paid for their time or opinion. It's also a place where people ask their peers for opinions, advice and ideas. If companies are not taking the time to learn from this open dialogue, they should be," says Mitch Joel, Six Pixels of Separation – The Blog, July 31, 2009.

Typically, social media marketing is budget-friendly, with most solutions being free or low-cost. Free blogging software is available and social media sites offer free accounts. The largest commitment for businesses is dedicating time and resources to develop and implement a social media marketing strategy that will integrate effectively with existing online and offline solutions.

According to Stelzner’s social media marketing report, "A significant 64% of marketers are using social media for five hours or more each week and 39 percent for ten or more hours weekly." He also found that the longer marketers have used social media marketing strategies, the more time they spend on them, illustrating the value and effectiveness of social media marketing.

Social media can be a powerful medium when used as part of an integrated marketing strategy. When combined with online efforts like search engine optimization and ad placement, social media marketing can transform a company’s web presence and increase lead generation and sales figures. Offline strategies, including press releases, direct mail, advertising, and sponsorships, should also be considered as part of a comprehensive marketing plan.

By working with an integrated marketing firm, businesses can harness the many opportunities available through social media. A firm will help design and execute the most effective marketing plan, strategy, and policies to ensure both online and offline efforts deliver the laser-sharp messaging that will generate leads and increase business. BTE