Handmade
CSS Design

Power of Social Business Networks vs. old school marketing

07 Jul 2011

Image stating Yes, you've got a website, who hasn't? At Handmade CSS Design we can turn it into a powerful Business Social Network for you, helping you build relationships, engage your clients and see your business take off!

The power of word of mouth traditionally brought businesses valuable “client trust” before they even knew your business! All this because a friend who they trust recommended your business based on their experience of your business/product or service.

Business Social Networks work in the same way a client recommends your business to a friend on Facebook, Twitter etc but because your client’s friends also have friends this then networks your company to them even if they do not want or need your business/product or service at this time they will remember that Jack their friend recommended a company for their need in the past, this is how trust is built, expanded exponentially and then converted to profits…

What are networks?

Networks for our purposes, on the internet, as in all aspects of life are the links between people which are then directly converted into links between people on the internet. From a business point of view this translates to you handing over your business card to a person you met at an e.g. exhibition, seminar etc. and thereby expanding your network of clients. The difference being that a business card is easier to loose or forget. With a business social network, the link is more permanent and the reminder of your product, business or service is updated every time you update the content on your site.

Some statistics to get us started, the average person on Facebook has 130 friends – http://www.facebook.com/press/info.php?statistics

Basically the best way to describe this is to explain with an example, you have a Facebook Business Page and a satisfied client has a Facebook Personal Page and they find your Facebook Page say from your site / business card etc. and they decide to click the “like” button on your page to show to their friends that they like and use your business/product or service, they may even write something like “Outstanding service from company X, when I recently bought product Y” on their Facebook Wall.

Let’s say that this person has 10 friends, now instantly all of these people are made aware of the fact that…

  • Company X offers a high quality service
  • You like company X
  • You use their services or products
  • They see all of your promotion messages and news in their timeline
  • And the best for last you start to build trust, the most important word in business

Now out of these 10 friends let’s say 2 people decide that they also like your business/product or service and decide to also “like” you. Now they also see all of the above in their timeline and your one happy client has just introduced you to 2 of their friends or put bluntly 2 prospective clients.

If you reset this example to the beginning you now have a loop for success as sown in the diagram below…

 

Image of The Power of Social Business Networks - network growth chart

In the example above you can see how this one client can bring you many more potential clients whom are in the beginning just following your company. As you continuously “remind” them of your brand with every new article/promotion/sales offer you continue to develop your relationship with your “friend”.

A while later that “friend” needs your service or product, well they know you and their friend has recommended you after all.  Now think for yourself what would you do? Your company has been investing into this moment and here it counts the most… “the value of trust that has already been gained, nurtured and developed between you and your “friend”, now blooms and this “friend” now becomes a client, and if you look after your client as I know you will do correctly then they will become the 2nd client at the top of the example list above and will start a tree of their own.

It’s a matter of trust…

“Visitor traffic to the top 10 comparison sites grew on average 158%”

So… what was the reason behind this phenomenal growth? In the Forrester Report of 2010 it stated…

“92% of consumers said that they have more confidence in information found online than they do in anything from a sales clerk or other source.”

and that…

“75% of people don’t believe that companies tell the truth in advertisements.“

That is a staggering statistic which is compounded by the fact that…

“74% of online consumers are influenced by the opinions of others in their purchasing decisions.”

Still not convinced, and want more…

“67% of shoppers spend more online after recommendations from their online community of friends.”

Why would a visitor leave a comment/review or share recommendations within their social network of online friends?

Well… it is about social standing in the community, by sharing you are helping you friends and also it is an opportunity to brag about something that you have just invested in (not just financially but also physically and emotionally) and want to show to your friends and the percentages show that to…

“34% have turned to Social Media to air their feelings about a company”

“26% to express dissatisfaction”

And finally…

“23% to share companies or products they like”

There are many aspects of Business Social Networking that will be of benefit to your company, such as…

  • Increase in sales
  • Bring your client closer to your business by gaining their trust and then retaining it, thereby developing long term relations with your clients.
  • Improved perception in brand value through social recommendations, likes, follows etc.
  • The ability to have fully measurable results from detailed analytics crucial to any business so as to measure the success of your online campaigns.
  • The ability to harness the power of user.
  • The most important thing is that following the above you will be able to tailor your products/services to the real needs of your clients.

This will allow you to really harness and measure the word-of-mouth marketing in ways that you have never been able to before and help your business become all it can be!

Yes, you’ve got a website, but we can turn it into a powerful Business Social Network for you, helping you build relationships, engage your clients and see your business take off!

So why not let us here at Handmade CSS Design help you establish that trust and help you set yourself apart from your competitors. For further information or assistance, please feel free to contact Handmade CSS Design on (0030) 6936 266 644 or send us a quick email here.

Something Extra

Sources:

  • Facebook Press Release – Usage Statistics
  • Online marketing site – compete.com
  • The Forrester Report 2010

Image of the back button

You may remain informed as to all of our latest news and events via the RSS 2.0 feed that you will find here!

top