What does the Social Media can DO?
Social media will continue to transform your business. It will be a way to generate sales through your connections. Currently more than 22% of businesses report using social media as a revenue generating tool.
This includes community activity, articles, public speaking, media commentary etc. Publicity is not just for large corporations with huge budgets. If you’re a local business sponsor the local sporting team or school event.
Meeting other business people can open the door to a variety of opportunities. Don’t just network with people from the same industry – you never know what people from different industries might be able to offer. All businesses have common problems (accounting, management, marketing to name a few) and you might just get a great idea from the person you least expect.
Is there another business that offers a different product or service to the same customer as you? Do they have more customers than you? Joint ventures are a great way to leverage the customer base of different businesses. In its simplest form this can be a referral program. Some of the largest acquisitions have started with a joint venture – who can you partner with?
Try something different!
The definition of insanity is doing the same thing and expecting a different result. If you want to grow your business you need to do something different. Give something away for free to help attract new customers, launch your new product with an event or start sending prospective customers a monthly newsletter. Track the results and if it works expand on the idea. If it doesn’t dust yourself off and try something else!