Keep reading to discover why social media is changing small business for the better.
Six months ago, I highlighted many benefits of social media for small business, but several new research articles add urgency to this message.
Swiftly Changing Landscape
Social media marketing is a rapidly changing environment, as we all know. But the good news is that your customers are embracing social media as a normal part of their lives. Even the over-50 population is adapting at staggering rates.
Have you considered the wellspring of social media conversations as a source of product or service innovation?
Keep reading to discover how you can tap social media to enhance the development of your next great product.
Social Media for Product Research?
Yes, that’s correct… you can use social media-based conversations, feedback, comments, complaints and more as a source of research and development! This can be especially handy for smaller businesses that do not have big budgets for R&D.
Social media is not as planned or controlled as a focus group when it comes to research and development; however, with concentrated time and dedication you can use these channels to your company’s advantage. And, ultimately, you can benefit the very people you’re polling about improved and new products and services.
Wouldn’t it be nice to have a framework for measuring the impact of your social media efforts?
That’s where Susan Etlinger’s new research for the Altimeter Group comes into play. Susan did qualitative research with 60 social media marketers and vendors to understand how businesses currently measure their social media performance.
Her goal: to develop a framework for tying social media performance to business goals.
NOTE: Because Susan’s original research targeted enterprise-level companies, I interviewed her to add some small business insights. The following comments combine results of the research and that interview.
In this video I interview Bernardo Huberman, director of the Social Computing Research Group at HP Labs and author of The Laws of the Web: Patterns in the Ecology of Information.
Bernardo shares why HP is studying social media as portal to understanding their customers and consumers. You’ll discover how HP is able to predict sales weeks before a product is released thanks to social media research.
Be sure to check out the takeaways below after you watch the video.
Welcome to our weekly edition of what’s hot in social media news. To help you stay up-to-date with social media, here are some of the news items that caught our attention.
What’s New This Week?
Google+ Attracts 10 Million Users in the First 2 Weeks: Google+ is the fastest growing launch of a new social network. Many users are checking out this new platform. Here are some recent updates on Google+:
- Google explains how to upload email addresses to your Google+ account:
Well, maybe that’s the wrong set of questions.
In fact, the 2011 Social Media Marketing Industry Report has some good news for small business marketers. Small business owners are seeing the greatest results from social media marketing.
Using social media to research competitors can provide useful information for any business looking to create a smart strategy. Learning about your competitors’ activities can give you insight into what works and what doesn’t.
The beauty of social media is that there’s a ton of information about your competitors that is public. And not only is their strategy public, but the reaction to that strategy is public as well. Let’s take a look at some of the things you can learn about your competitors through different social networks, search engines and other outlets.
As businesses continue to integrate social media and become more confident and comfortable with social media tools and platforms, we’re starting to see a change in social media usage. A new study reveals what’s changing with social media.
They benchmarked and measured the state of social media usage among businesspeople. The data identified eight prevalent trends that give great insight into the social media behaviors, beliefs and challenges of the majority of businesses today.
In this article, I take a look at two studies.