Small business need to jump in the bandwagon of social network advertising. Too much of their online advertising expenses are going to the wrong channels such as email and standard websites to promote their products. We are coming into an age where social media sites such as Facebook are attracting millions if not hundreds of millions of users and that is where the money is at. In a place where users spend hours and hours of their valuable time to reconnect with friends, what better way to promote and advertise your products in the pages where the majority of customers spend their time?
We are in a world where technology is advancing at a rapid pace and existing technology is being replaced and/or improved at an alarming speed. Small businesses might have very few cash at hand for such lucrative advertising expenses but getting their foot in social networking sites such as Facebook might potentially boost sales and justify the expenses associated with such advertising costs.
Many reasons exist on why such investments are not being done on social sites and I believe one of the main reasons is because of a lack of experience. Facebook, twitter, and other existing social networking sites are relatively new and attract a younger generation. This trend of course is diminishing as older generations are starting to play around and experiencing social networking sites themselves; see the research here.
As these sites get more and more popular, small companies will see the benefit of advertising to different age groups and new spending will come about because of this. Although this is not the case now, the future seems to point to that direction. Until then, expect less than average returns on small businesses that choose to spend their online advertising money in emails and traditional websites to attract business.
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I totally agree, people spend a lot of their time on social networking sites such as Facebook. Putting their money on these sites is a very good investment especially if they are a new or a small business. People don’t pay attention to these spams emails anymore.
ReplyDeleteTwo things people look at in a new email.
1. From Who
2. Title of the Email
If they don’t recognize these send of the email and the title they would probably just delete that email.
However on Facebook, those ads on the side it’s almost like a must for users to see them.
This article talks about ads on Facebook and how useful they can be:
http://www.businessinsider.com/facebooks-ads-work-really-well-when-facebook-can-get-users-talking-about-them-2010-4
Thank you Andy for your blog.