Though small businesses have been some of the last to catch on to the social media revolution, those entrepreneurs with a micro enterprise might also be some of those with the most to gain.
A few small business that have dipped their toe into social media have found modest success, others have seen substantial growth. With social media, it isn’t just about the time that you put in, but how effectively you spend the time along with what you expect in return.
The largest benefit to small businesses is that as long as they don’t wait too long, they will still able to remain well ahead of their competition. Take, for example, a small Italian restaurant in a modest sized community. Chances are, few other Italian restaurants in the city have launched their own social media campaigns.
Their lack of understanding or hesitation to jump online, can be a massive benefit to the intrepid entrepreneur.
This is an emerging trend that will continue to grow at a furious pace. According to the University of Maryland’s, Smith School of Business, social media campaigns launched by small businesses in America doubled from 2008 to 2009, going from 12 to 24%.
Let’s look a little closer at those numbers. If one out of five small business owners are using social media to market their businesses, then there are four other entrepreneurs missing the opportunity to market their business, build brand awareness, and bond with their customers and clients in an online atmosphere that is unlike any other.
As time moves forward, increasingly consumers will expect their favorite brands to be online and engaged in their social network of choice.
This future is inevitable. Those businesses that know it ahead of time will be those most equipped to ride the crest of the next profitable wave.
