In January of 2009 I wrote an article titled "
Triangulation the Cornerstone of Business Development and Organic SEO". Ever since then I have been amazed just how fast social networks have exploded. However, are business owners as quick to embrace this exploding “word of mouth” phenomenon? According to some experts such as
Billy Adams, maybe not, “Surveys find some owners are intimidated by the technology and others just don't have the time. A significant minority simply can't see the point of it all.” Now the operative words here were “some owners” and a “significant minority”.
In most cases when talking with a perspective client who either doesn't have a website, or has one that is either unattractive (killer for any business owner competing in a tough marketplace or industry) or inefficient (making it difficult for visitors to get what they came for), I find the problem has mostly been either due to a lack of knowledge or just simply being unaware of the popularity social media has within the market place and the impact it can have on business. Business owners are all masters at what they do but when it comes to marketing, which breaths life into any business, all too often they are unaware of the changing dynamics taking place with advanced technology reshaping the marketplace. Unfortunately, these same businesses will be the ones out of business in a very short period of time. But it’s not too late!
With advancements in website platforms and software, eCommerce, social network channels, along with keen competition among providers, huge cost savings make it extremely affordable for businesses to leverage technology and services. What used to cost 10s of thousands of dollars yesterday is extremely affordable today; so much so Small- and Medium-Business owners can easily leverage high-tech turn-key business class websites, social networks, customer support and other resources providing an “investment” for their businesses rather than an expense. However business owners need to take action, and they need to take it now! Why? Their competition is running a race to grab as many customers as possible, as fast as possible. The longer a business waits to leverage the Internet with all the affordable resources available, the greater the odds they will not be around in 3, 2 or even 1 year.
Discussed In the article “Triangulation the Cornerstone of Business Development and Organic SEO” was how triangulation was used to facilitate Organic Search Optimization providing Strength, Relevancy and Duplication in supporting Search Engine Optimization and Search Engine Management (SEO/SEM). Today Triangulation goes well beyond what and how it was used for only two years ago. Social media channels have created a path which not only greatly increases a business’s odds by capturing more customers, but has also been shown to successfully keep those customers and isn't that the objective of all businesses – identify, capture and keep customers?
In order for a business to properly take advantage of triangulation they need to have a business class website and at least one social media channel and one blog site. However, having two or more social media channels greatly increases exposure in order to fully optimize social media channels to reach a maximum audience. The objective is to create relevancy gained from having two or more sites passing information “of interest” about the business and its website, another significant case for having a business class/professional website. And while on the subject of a business class/professional website let me make a recommendation. A new business or a business with a limited budget should have their priorities set on getting an efficient and effective “entry level” site. Don’t get me wrong, it still has to be a business class site but so long as the site is “professional” in appearance, there should be less emphasis given to how the site looks. Once the business profits are up and has become successful, the owner can always come back to give their site a makeover. Emphasis should be placed on how a site operates, how robust are the features so the business owner is able to efficiently operate and manage his/her online business. In other words, the business owner should not get hung up on how great or beautiful the site looks so long as it doesn't look amateurish. How many times have you seen a business, located in a ritzy shopping district, whose website looks as if a friend or relative put it together? A site that doesn't look or feel like a professional business class site turns people away, especially if they are surrounded by high class businesses with professional sites. Remember, you get what you pay for and a professional looking and functional site, tied to mutually “relevant” social media channels passing “relevant” information about the business is far more important and “relevant”. If you think I am using that word, “Relevant” a great deal… you are right! It just cannot be stressed enough as to the importance this one word has on marketing. The stakes are too great and the business owner must stay on top as best as possible. According to the dictionary, relevant means “having social significance, having some bearing on or impact for real-world issues, present-day events, or the current state of society.” Here is another question for you: Is it possible to gain relevancy in a passive marketing strategy such as radio spots, newspaper ads, or even in the phone book? You be the judge.
If this seems like alot for a small business and its owners to take on, it could be! Remember Billy Adams above? There are those who either do not have the time or just don’t see the point. Well if a business is not generating the needed income what else can the owner do? Something must change otherwise insanity sets in and the business goes under. So what must the owner do in order to generate more income? Get the word out about his/her business! But what are the options? There really are only four:
- Without website: Advertise in newspapers, radio and/or TV, or phone book
- With website: Advertise in newspapers, radio and/or TV, or phone book
- With website: Hire 1 or more employees having expertise in this area
- With website: Outsource to expert company(s).
Which of the above do you believe is the least expensive, and yields the most productivity?
- Advertising without a website: How much does it cost in your area to advertise on local TV, radio, newspapers or even the Yellow Pages? Five hundred, a thousand, two thousand, and is that monthly? And how does the owner track and manage which ads are providing the best return on their investment (ROI)?
- Advertising with a website: Costs would be the same however website owners have the ability to monitor ROI but only if the website has the tools to capture, track, and manage the data.
- Hiring Employees for managing the website: How much do you think it costs to find someone who has the expertise in developing and operating a “business class” website? Could that person also create and manage social media channels while providing content to both the website and multiple media channels? If not, can the business owner afford hiring a second person? Depending on the size of the business the owner may be paying $30 to $40k per year for 1 or more employees just to help market their business online. So what is the cost in finding one or more “reliable” employees to hire?
- Outsourcing: There are companies today specializing in professional business class websites, social media channel development, SEO/SEM, along with associated customer support resources at rates less than $6,000… and that’s for standing up an entire turn-key solution. This is far less expensive with fewer headaches than any of the other three choices, with results that are seen in a very short period of time… usually within 30 days according to Stephen Jones of Growth Strategies a “Hands on” Sales and Marketing Strategy and Implementation Services Company.
So how important is social media anyway? Well, below is what two business owners said about the impact social media had on their business:
- “We went from page 8 on Google to page 1 within 2 months with the help of your social media program. Thank you!”
"The budget cut we received from corporate for marketing was 15%, and we had to scramble for a new way to reach our targeted market. We knew we could reach them online, but didn't know how, or which direction.
Your expertise in branding our image online, and to our target niche was what we needed. I had no idea that so many of our key audience was so active in Linked-In and Facebook, and I didn't even know what Twitter was!
Because our sales team is working leads brought in by the education your team is doing for our Groups online, their close ratio is about 7 out of 10.”
Social media has become an extremely powerful tool! Once a business is able to lasso and leverage this beast, the owner soon asks the question, why didn't I do this earlier? Triangulation incorporates three important components which every business needs… Strength, Relevancy and Duplication!
Strength: Strength comes from “
word of mouth”. Strength also comes in numbers; numbers of people who the business may or may not know spreading the word. This buzz is what creates interest, which in turn sells products or services, equating to significant cost savings. Word of mouth also edifies the business, its products and/or services. The business isn't beating their own chest or boasting how good they are; kudos are coming from 3rd party resources from various social media outlets being tapped.
Word of mouth is very powerful! As businesses provide “
educational” and supporting information, consumers and customers begin to spread the word about the business. Here is where professionals are able to provide the level of expertise which business owners just do not have. Why? Well for one good reason… credibility and good press. Bad news travels much faster than good. Professionals help keep the business owner from stumbling because once bad press gets out into the social media channels, it is difficult if not impossible to get back one’s credibility.
Relevancy: One of the most powerful, if not most powerful, tools to gain positioning on the search result pages is having a large number of people and sites talking about your website. This is known as relevancy and is also part of organic search engine optimization. Once businesses go down the path of leveraging social media outlets, SEO/SEM almost becomes irrelevant. Why? Well what used to take months to get results on the web using SEO/SEM techniques now takes only a few weeks. Once the buzz is created by using social media networks it almost takes on a life of its own. Word of mouth, an extremely powerful phenomenon, quickly gets the word out in front of potential customers. Don’t get me wrong, I am not saying SEO/SEM is no longer relevant, it just means those companies who used to rely solely on SEO/SEM are now also leveraging social media channels as part of their overall service to businesses.
Ranking on search engines is challenging to say the least. Leveraging as many technologies as possible is the name of the game. But which technology should we leverage? Just like in the original article, in order to get a business to reach that prime #1 page-1 ranking on the Internet, a business owner either spent a great deal of money and/or a great deal of time optimizing their Website. And it’s getting tougher and tougher if not impossible for many businesses to reach even page 1, especially plumbers, doctors, or any number of professions where literally hundreds if not thousands of the same businesses are in a small geographical location. The only relevancy found as a result of successful SEO/SEM is in matching key words on websites to words entered in the search, and only “
when someone is actively searching”. The importance of SEO/SEM will never go away, however it can no longer be the only focus on marketing a businesses website.
Duplication: The most beautiful part of triangulation is that of duplication. What better way to create a buzz than people spreading the word? Information about a sale, a special, great services, great food, and great fun to mention a few can quickly spread, duplicating each time someone shares the information on the internet. This is the ultimate goal of any business.
One industry which successfully utilizes duplication is the motion picture industry. Here is a great exercise to conduct which best illustrates the power in “word of mouth” and the duplication which takes place when implemented.
We are often bombarded with advertisements and trailers on TV just before a movie is to be released. The next time a new movie is about to be released, check how many times you see it advertised on TV, on the radio, in newspapers. Take note how often you see or hear the new movie advertised. Once the movie is out see just how many times you see or hear the movie being advertised on the very same media channels. You will see significantly fewer ads, if any, after the movie is released. Why? Word of mouth! Those who have gone to see the movie tells a friend, who then goes to see the movie who tells a friend, who tells a friend, and so on and so on. The movie industry knows that before the movie they have to flood as many channels as possible to create the interest for people to initially go see the movie. Once the movie has been released they no longer need to spend money on advertisement because “word of mouth” takes over, the buzz is created. This same concept is applied in social media marketing for businesses.
Which Option to Choose: Given the four options business owners have as seen above in 1, 2, 3, or 4, which makes greater sense, doing all the work or leveraging? Does paying thousands and thousands of dollars every year to possibly get into the top few pages as good as paying a few hundred and having people on social networks create the buzz about “your business”?
Let’s look at a scenario where a business owner of a specialty designer clothing store decides to have a special sale because she accidently fell into a fantastic deal. This business owner has spent a great deal of time and effort in getting high ranking on the search engines. Let’s say for discussion purposes Barbara, the owner, is proud of the fact that her business always comes up #1 on Page 1 when people search for designer clothing. Now let’s say my wife Cheryl decides she wants a special designer outfit and would love to find a special deal so she goes hunting. Unless she happens to search for designer clothing during the very timeframe Barbara is having her great sale, Cheryl will miss the sale completely. But what if Barbara was networked on one or more social media channels, and during one of her postings she put out information on a special purchase recently made on the hottest and most popular designer apparel which just came in. Cheryl happened to be following a friend of a friend who happened to “like” what Barbara had posted and not only did Cheryl get a great deal but within a day or two of the buzz first starting the entire shipment was snagged up.
Now for the small business owner who has a limited marketing or advertising budget, do you think it was necessary to put out an ad? Probably not! I would say this was the very best marketing or advertising strategy that could ever be developed.
Triangulation and leveraging social media channels is all about marketing businesses easier and more cost effectively, regardless of business or service provided. Strategic marketing is about leveraging technology, partnering if you will with businesses that put businesses out in front of people actively and inactively engaged in looking for you rather than “by chance” finding you.
In wrapping up, business owners should have a game plan for increasing business and revenue with the least expense. It is important to identify and create a marketing strategy, a road map if you will, to a business’s desired result. Below are a few “initial” objectives business owners began with and notice not all of them were in the business of selling.
- To create a powerful sales message and tool that provides urgency, and generates revenue
- To build sales through a variety of mediums, and create a clear message and vision of the business from the client's perspective
- To build business partnerships for this state run organization
- To build customer loyalty and increase market share
- To create strategic marketing initiatives, and a new marketing plan
- To save money on advertising methods, and establish partnerships with businesses who share their customers
- To build market awareness, and better communicate her unique selling advantage
- To become distinguished in the marketplace, and become established as the only viable choice
- To increase awareness of club's facility and build relationships with churches and local businesses
What is your objective? Knowledge is a very powerful commodity to have… businesses in today’s economic slump cannot afford to stay uninformed. Every business owner needs to keep an open mind, keep their eyes and options open for solutions which can change their business.
The best advice I can give to business owners? First ask, “What is my strategy for increasing business and sales?” Then go out and
Leverage Social Media Channels.