The success of small and medium business of today has a new analytics tool. Social media is the unsuspecting measuring tool that is unlocking innumerable business benefits, especially in the context of global economic downturn and the need for cost effective solutions.
“Businesses are increasingly reconsidering pre-recession working practices and opting for more flexible, competitive strategies,” says Sande Golgart, vice president of Regus, the global provider of flexible workplace solutions, “More and more companies are leveraging [social media] to increase the loyalty of existing customers and as a successful acquisition tool.”
A recent Regus survey found that countries such as India and China are increasingly using social media to generate businesses or to build client relationships. Their success rates, relate new stories for global small businesses to watch and adapt to their own native business environments.
Netherlands, and surprisingly, Mexico are the top social media active countries with more than half the businesses using it to gain greater C2C relationships.
Chinese ‘Humong’ous growth on Renren
Chinese businesses using Renren (up by 65% from 44%), Orkut in Brazil, India (by 61% from 52%) are the social networks that are generating leads, opening a B2C dialogue that would just not have been possible on the same scales, even with email marketing. The real time ‘talkback’, possible on Twitter or Facebook is unmatched in terms of relationship building, production information and customization, by probably any other consumer platform across the globe.
Lessons to learn
Business marketing strategies are on revamp globally. Every business needs to allocate a social media marketing budget for low ROI but high speed customer lead generation and ‘talkback’ with clients.
- 34% and more businesses are using social media for marketing, more than the 27% last year
- China, India, Mexico record 100% success on social media for business marketing
- In US, 11% increase in revenue for business with social media profile vs. non-media businesses