This coming Thursday, I will be on a panel with some very smart folks at Social Media Week in Los Angeles: Social CRM: Hurdles Along the Path to Measurable Social Marketing Programs. We will be visiting the ROI for brands online. Below is some information that covers some of my thoughts:
A survey of 600 small business owners across the United States indicates that 90% are actively engaged in social networking sites and 74% perceive social networking as valuable — if not more valuable — than networking in-person.
When 42% of owners say that 25% of new customers discovered them through sites such as Facebook and Foursquare, it is crucial that your business is online and social.
But the news is not all merry, as 58% of surveyed owners said they struggle with promoting their Facebook pages — if they have a page at all.
The takeaway is clear. You need to be where your customers are. Forget what your competitors are doing, as their customers are different from your customers. You also need to integrate internet communications into your normal routine of business networking.