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The study confirms that 70% of survey respondents view search engines, online Yellow Pages or social networks as their primary sources of local business information.Read more at www.mediapost.com

great post- thanks, Scott!

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Social Media Manager’s Role in Today’s Business Economics Business economics: is that part of economic theory, which focuses on business enterprises and inquires into the factors contributing to the diversity of organizational structures and to the relationships of firms with labor, capital, and product markets. Social Media Managers play a vital role in today’s marketing strategy of many enterprises. However, did you know the effects and role of social media managers in today business economics? Social Media Managers are the drive in the future of marketing campaigns, and how the next generation is communicating on a peer-to-peer level with a company. Today’s social media mangers are responsible for the everyday transactions of the company on-line, through a blog, Twitter, or Facebook page. Each manager controls what the customer sees and wants them to know about the company. They monitor reviews of the company on amazon.com or a customer’s response to bad or good service of a restaurant. In addition, to the critical role they play in the company’s marketing strategy they also play a lesser-known role in business economics. They help drive customers towards the company to sell more products or the monitor trends in what the customer wants or needs. They see an uprising in people wanting this change a product X though Twitter. They then go to R & D and propose the change to them, followed by the change being made and driving more customers to the product with that change causing an increase in profits. The same for can be said about restaurants. A restaurant social media manger notices a increase in Facebook status updates saying the newest special is a hit, thus the demand for the product is increase, and the restaurant next can make a choice in which to run the special longer or make it part of the everyday menu. Through marketing campaigns, Social Media Mangers can provide a service to the customers by telling them a special deal only available though a Facebook status update, and with a special code, they can get a percentage off the service or product. This not only allows current customers to do repeat business, but also allows for more returning customers who can retry the service or product. This type of strategy can also provide a door for new customers to try the product and drive the demand for the product higher thus driving up profits. Social media managers also provide a deeper look into what customers want or do not want on an individual level, and using data collected though these managers a company can drive the profit of the company on an upward swing. It is wise to use social media mangers in way to truly use them for what they do best, interact with the customers, and provide a high-tech way to look in the demand and supply of the product or service. Please do not forget to follow me on Twitter! Tell we meet again KEEP MOVING FORWARD! Read more at scottsumner1.wordpress.com

buzz buzz buzz - social media, ROI... what's the value of all these OTHER benefits?

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Social Media Marketing: Is It Really Worth It? Written by: Ely Delaney | Posted on 28 July 2010. Tags: Marketing, social media strategy 12Share 2diggsdigg When it comes to any form of marketing or promotion, the first question that every business owner should ask is “Is it worth it?” In other words, what’s the ROI? Funny thing is that with all the buzz related to Social Media Marketing, people are jumping onboard left and right without actually considering the outcome. You see, Social Media is just a tool. It’s a form of “Media” (hence the name). It’s not the magic bullet that many business owners seem to think it is, and that many Social Media Marketing Companies push it to be. It’s still just a tool and it’s not the holy grail of advertising your business. So what can you expect from Social Media Marketing? To build actual relationships with your prospects and customers People buy from who they know, like and trust. Especially in today’s world. With just a few minutes a day, using Social Media you can build those relationships that turn your customers in to raving fans. A way you can create viral communication and share your knowledge By sharing your expertise and helping others, you’ll turn casual lookers in to your own sales force. Share great information and they will happily pass it on to their friends creating a viral effect across the Internet. Free research. Find out what your prospects and client REALLY want from you. Quickly and easily. Are you thinking about adding a new line to you products and services? Just ask your Social Media followers what they think about it. Is it something they really are interested in? What options would they like to see with it? How much would they pay for it? It’s the fastest and easiest was to do market research and you don’t even have to pay a third part company a ton of money to do it all for you. Just shoot out the question and see what comes back. Trust me, they will answer! Additional methods of getting extra buzz to your website The goal with Social Media isn’t to get people to buy your stuff. It’s to get them to your website. That’s where they can learn more about you and buy your stuff. Once you get that mindset in place, you’ll see how Social Media is a lot more effective than you might think. Use it as a tool to create extra buzz about your latest announcement, product launches and blog posts. Get them to take notice and come to your website to learn more. Customer service that will get you noticed One of the greatest uses of Social Media Marketing is actually for customer service. I’ve see a few companies use this method with great return. Let your followers ask you questions via Social Media. Then just answer them publicly. This gives you a couple of bonuses when done right. First, you are sharing the information publicly so everyone can see it. If one person asked the question, chances are someone else had the same question. They will love it. Second, by having the conversation out there so everyone can see it, you build a reputation of being active and caring to those prospects that might not have felt comfortable with you before. Therefore, you are building even more trust factor to your prospects. Thats just a few of the ways that Social Media will work as an effective tool for your business. Just keep in mind that its not just another place to blast your promotions and pitches. It’s about building actual relationships and having real conversations with your viewers. Read more at www.businessblogshub.com