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Marketing: The Web & Your Business
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Are You Taking Advantage of Social Media & Online Tools?

A recent CitiBank survey of small business owners found that most are not taking advantage of social media and online tools. However, it also showed that younger entrepreneurs (those under age 45) were more skilled at online marketing, giving them an advantage.

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Here are some of the most notable survey results:

  • 81% of entrepreneurs still don’t take advantge of social media
  • 47% don’t think that Facebook, Twitter or even LinkedIn are beneficial to their business
  • 40% of small businesses don’t have a web site
  • 84% don’t provide for e-commerce
  • 62% don’t use email marketing

Why is Social Media Relevant to Your Business?

It’s time to start taking advantage of all the web has to offer. As a business owner, you have to go where your clients are. According to Google, Facebook is the most trafficked site in the world, with Twitter ranking #18 and LinkedIn coming in the top 100 at #56. Facebook alone has more than 400 million active users who spend over 500 billion minutes per month on the site. Twitter has over 100 million registered users and adds an average of 300,000 new users a day. Similarly, LinkedIn has over 70 million members with a new person joining every second.

Web Business Basics

Even more important than your social media involvement is your business web site. With all the site creation tools and hosting options, there’s no excuse not to have a professional site. This dramatically increases your business’s chances for growth and success. Not convinced? Here are the stats to prove it.

  • Online retailers are acquiring new customers at a 15% annual rate versus 2% for traditional brick and mortar retail outlets.
    Deloitte & Touche USA, 11/2006
  • Consumers are 50% more likely to be influenced by blogs and e-mails than TV or radio advertising.
    EPM Communications, 04/2006
  • 54% of consumers referred a friend to a vendor found online.
    Nielsen/Net Ratings, 11/2006
  • Online sales are growing at a rate between 20 and 25% per year. Online sales (including travel) are projected to reach $211.4 billion this year.
    Shop.org, 07/2006

Get Started Today

In this Internet age, you can’t afford not to be more engaged online. After all, your competitors are already making online connections. To get help developing your web presence and marketing online, visit your local SCORE office or ask a SCORE mentor for help online.

Jacalyn Barnes, SCORE
View more posts by Jacalyn

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For 50 years, SCORE has helped aspiring and current small business owners achieve their dreams. Through a network of over 11,000 volunteer business mentors in 340+ chapters across the country, SCORE connects decades of business experience and knowledge with those who can best use it.
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Discussion (3) Comment

  1. Great post! I just started – 2 days ago. I have over 400 friends through my friends and business associates. At first I really didn’t get it…I GET IT NOW! DO IT BEFORE IT’S TOO LATE…..


  2. Kara StewartVisitor

    Thanks so much for posting this. I just wanted to add that as you get your feet wet and start to create a web presence, make sure your website is incorporating the tools necessary to really use social media marketing to its fullest potential. I consult with small businesses all the time, and the first obstacle is always the website itself. Just because it’s exactly how you want it to look doesn’t mean it’s going to function properly when it’s shared. It’s not expensive – in fact, it’s getting easier and cheaper all the time to have an amazing web presence. Happy surfing everyone!

  3. Excellent simple post. I will bookmark and share this with our clients.
    C

 

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