Social Media: Why you can't afford to wait

The entrepreneur and the small business owner are the busiest creatures you'll ever meet. A majority of their waking hours are poured into their life's work and their clients, and trying to carve out their spot within their industry or niche. They are the steeled tiny gears that grind our economy day in and day out, and quite possibly some of the most important people in shaping the future. Their days are filled with invoices and estimates, fighting fires and keeping the lights on. In a position like that, who has time for social media? It seems a little frivolous doesn't it?

Facebook, Twitter and Instagram are for teeny-boppers, Pinterest is for stay at home moms, and LinkedIn is for big companies and job seekers, right?

I'm here to counter that mindset, explain why social media is a must for small businesses and entrepreneurs, and attend to your reasons for avoiding involvement in the conversation that's going on within your industry weather you decide to be a part of it or not.

Social media is the most relevant place for you to be heard right now. If done correctly (and we'll get to this in another blog), it beats out advertisements on TV, radio, newspapers, and magazines, and it beats flyers, billboards, and direct mailings and even email campaigns. It is the place where you can prove that you're an expert in your field, and gain loyal followers who can't wait to hear what you have to say next. It is where you can give a voice to your brand, and find new clients who are heavily engaged in this realm - it's how they like to find their information. By not attending to your Social Media presence, you're excluding potential clients and opportunities for new revenue streams.

You're also missing out on what's hot and new within your industry, it's a place where you can funnel information (blogs, tweets, articles, videos, etc.) and trends, and follow other leaders that are in your space and keep up with what they have to say. You can also use social media along with some third party tools to analyze what people are saying about your industry, and hear what it is that's missing out there. You can determine what new products and services you might be able to provide based on what the market is saying.

Social media is so effective as a marketing tool because the communication goes both ways. You have the opportunity to broadcast, and to listen - you can even make it personal! In the book "The New Age of Innovation: Driving Cocreated Value Through Global Networks" there are two equations that are discussed which are essential for businesses moving into the current and future economies. First is N=1, this says that customers today expect a personalized experience (think Amazon and iTunes). They want to participate in the design of products and services that they will buy. The second equation is R=G, and this is related to a global supply network and an emphasis on analytics to identify trends and unique opportunities that drive a strong competitive advantage.

We will focus on R=G in another blog, but how can you expect to drive an N=1 experience if you can't hear what your prospects are looking for? How can your clients express their desires if you've kept major venues for communication closed?

The most frequently established reasons for not getting involved in Social Media are:

• Lack of confidence, which is easily fixed with a little education.
• Lack of time to properly attend to social channels, which can be fixed through automation of processes and a little consulting.

As a small business, attending to these two issues can quickly and dramatically improve your stature within your social media market, and brand you as a differentiated expert within your field. It's not as complicated as you think to introduce a social media strategy into your existing marketing efforts, so let's talk about it!

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