social media icons, The Savickas GroupEven nearing the end of your business ownership, you can’t afford not to keep marketing your business until it is sold. Without marketing, your business

and its value will slip into oblivion while you take the financial hit for your inactivity. Today, the various types of social media can help you to easily reach customers and keep those sales going.

You might think that social media is not used by many business owners, but you would be wrong. Over 96% of owners use it in some format, and of those 92% believe it is important for their business. Facebook is still the preferred platform for most businesses (93%), especially small business, but Twitter is becoming more popular (79%), especially as they add features to it.

Understand that each platform appeals to different business groups. Small business does well on Facebook and Twitter, but larger companies like YouTube and LinkedIn. LinkedIn is a great site to use for networking, both as a company and an individual. You don’t see the personal posts in LinkedIn as you do on Facebook, and the entire atmosphere is much more professional than any of the other forms of social media. Networking is the key word here.

A fun and light atmosphere can be found on Pinterest and Facebook, for the most part. These are sites which primarily appeal to consumers, so you have a B2C platform. Crafts, home products and services tend to do well in these areas, although you will see other companies posting here.

Twitter and You Tube seem to cross lines in that they can be consumer-oriented or industry-oriented. Both are also not geographically anchored in that anyone from anywhere could be interested in what you are putting online. Facebook, on the other hand, can be very localized.

These social media sites are free and open to anyone who registers. Each has its own set of guidelines and recommendations, but for the most part, all are easy to enroll and operate.

Since you also have a website for your business (you do, don’t you?!?), you should place links on your website for any social media site that you utilize. By toggling the setup on your website and social media site will ensures that any blog or tweet or any other activity will automatically be announced to your followers. Done properly, this can be a great marketing tool and strengthen your position within your industry.

These social media sites also give you an opportunity to advertise on their sites, but you really need to analyze the feasibility of this. Sometimes, you are able to limit the people and locations where you want your ad shown. Facebook is especially adept at doing this. However, these sites are just like other advertising venues. Sometimes it works and sometimes it doesn’t. A good way to see whether you will have response to an ad is to run one or more test ads to limited audiences and track what happens. Some businesses have had an excellent response to ads, but I know of others where the ads fell flat. See what works for your company.

The major social media platforms inclue Twitter, Facebook, LinkedIn, Pinterest, and YouTube. There are other media sites that you will run into when surfing the internet, such as Google+, Snapchat, or 20 more possibilities that you might find interesting and useful. Again, find what works for you and your company.

We’ve just talked about social media sites, and next week, we will discuss the best practices for posting in these sites. There is a good and a bad way to utilize them. It will be important that you get your best possible benefit from them, if you are making social media one of your marketing outlets.

Never forget that you can access experts in all fields just by calling The Savickas Group. They can help you with preparing your business for sale or just working on your social media skills. We have written an ebook, FREE for the asking, about how to get the most out of your company when selling. Contact us for a FREE copy of Maximize Your Exit, 9 Tips to Capitalize on the Sale of Your Business: 1-888-210-8269 or  info@thesavickasgroup.com

 

Thanks to Brantley Davidson for his creative commons graphic.

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