This article is the second in a series about social media marketing.
With more than 300 million active participants on Facebook, and about a third as many on Twitter, social media has created a stir throughout the business world.
And with time being the main resource necessary to make an investment in new media, these interactive venues offer unparalleled opportunities for small businesses-ones that are much more affordable and in some ways more measurable than traditional outlets such as direct mail, print ads, radio and TV.
Jen Olson, principal of Perfekt Media, LLC, a social media and online consulting business in Seattle, said for certain types of businesses, increased sales can be directly linked to online participation.
Olson points to Tidbit, a small, out of the way restaurant in Seattle. "What they have done on Twitter is amazing," she said. They increased their loyal and passionate followers by "doing everything right."
Known for having the "best Tapas in Western Washington," this cozy neighborhood restaurant spreads the word about its unique Italian/Spanish menu through online marketing, by offering Twitter-only specials, answering questions from their followers and posting "Tidbits of the Day," featuring recipes and food trivia.
"They have over 6,000 followers, so if you want to master Twitter, Tidbit is a good model," said Olson, a member of NGLCC affiliate partner Greater Seattle Business Association (GSBA), Seattle's LGBT chamber.
Increased sales, leads and recognition are the ultimate measures of success for any form of advertising. But at a social marketing level, other metrics are positive indicators of success, said Matt Skallerud, principal of Pink Banana Media, a Web 2.0 marketing firm focusing on the LGBT market.
"When measuring directly at the social network marketing level, success can be measured by 1) click-throughs on a Twitter posting with tools such as Bit.ly, 2) the number of fans of a Facebook fan page, 3) the interactions of fans on a Facebook fan page (called Insights), and 4) one's position in Twitter trend sites such as TweetMeme.com or OneRiot.com," explained Skallerud, who is a board member of the Los Angeles Gay & Lesbian Chamber of Commerce (LAGLCC), also an NGLCC affiliate.
When it comes to online advertising, measuring activity can be extremely detailed. Both Google and Facebook advertising provide extensive data, such as number of unique visitors, referral tracking, time spent on a site and geographic origin.
Skallerud has helped clients such as VistSweeden and GayTravelocity.com gain visibility and new customers through social networking. For example, Gaytravelocity.com was successful in using Facebook to market its existing coupon codes and online promotions.
Professionals, such as Skallerud and Olson, who guide businesses in developing plans and strategies for online marketing, realize there is hefty time commitment involved in building a successful and consistent presence on social media sites. Many mid-size and larger companies hire consultants to lay the groundwork for their marketing plans, but smaller companies can usually take on the effort in-house if they dedicate a few hours a week to the endeavor.
"I live by the 80/20 rule when it comes to social network marketing, Skallerud said. "I believe that one can accomplish over 80% of their potential reach in social network marketing by focusing on Flickr.com and Facebook for their photos, a blog on one of the top blogging programs outputting an RSS feed, and perhaps a little video on YouTube. Integrating that content into their Facebook, Twitter and LinkedIn.com accounts can probably reach the vast majority of a company's potential clients with the least amount of overall effort."
