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10 Reasons Social Media is Good for Business

30 June, 2010

By Kent Lewis, President of Anvil Media, Inc.

1. Your customers and competitors are already there; they’re joining in droves every day and can’t be ignored.

2. Social media offers an excellent resource for research and development; your constituents are helping your products and services evolve (world’s most affordable focus group – if you’re listening).

3. Social media offers affordable, efficient service and support medium(DIY videos, images, blogs, wikis, etc.).

4. Social media offers an excellent industry/competitive research vehicle (we use it for keyword trending and development of SEM messaging and offers).

5. Social media offers effective techniques for online reputation management.

6. Social media offers a proven platform for customer engagement and empowerment (Lion Brand Facebook case study).

7. Social media offers proven ad platforms, including Facebook and LinkedIn, if it’s targeted, timely and relevant (DIBroker case study).

8. It’s highly measurable, yet difficult to measure, but you win either way (Wal-Mart’s Glad Bag theory).

9. Large brands are helping refine and validate ad revenue models, as well as police the social media space for everyone else.

10. According to research, socially engaged organizations are more profitable (ENGAGEMENTdb, eMarketer).

Categories: general

Tags: business social media top 10

Top Entrepreneurial News of the Day

30 June, 2010
  • Entrepreneurship Advice for the Class of 2010: Did you just graduate college, or are you considering starting your own entrepreneurial venture? Burton Goldfield gives well-rounded advice on how  to create a business that survives the first five years.
  • In Business and Family, Something Has to Give: Lisa Druxman discusses the difficulties between balancing a professional and personal career. She also provides key ways to create a doable schedule and maximize your time.
  • 2010 Mid-Year Preview: Ethan Harris, Head of North America Economics for Bank of America and Merrill Lynch, discusses what it will take for the economy to get back on track.
  • Is Your Shotgun Partnership About to Backfire?: “No matter how solid they seem, some partnerships are destined to fail,” states John Warrillow, “which is why you should be concerned if your shareholders agreement includes a shotgun clause.” Warrillow explains the risks of a shotgun clause, why a partnership can falter and how to see it coming before you sign the documents.
  • Need a Business Card Makeover?: Moo.com is offering a free business card makeover to 500 small business! To apply, you must visit The Business Card Project , show them your existing business card and tell them how you think they can help your business grow through a business card makeover.

Categories: general

Tags: advice business business cards entrepreneur graduates News

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