How You As A Business Owner Can Turn A Slow Economy To Your Advantage
July 6, 2009

First, using social media is a great opportunity to advertise your strengths.  The viral nature of social networks makes them an ideal place to share information because that information will be spread to many people in a short period of time.  And the best part is, if you have a quality product or service, people will jump at the opportunity to promote it for you, without you even having to lift a finger.  It’s nearly impossible to beat that kind of word of mouth advertising.
 
It’s good for the economy too. Not only is it a cost effective way for you to tell others about your business, you promote economic growth, stability, and well being by stimulating the market and offering people a chance to take advantage of a great business opportunity.  People are reluctant to spend unnecessary dollars when money is tight.  Reaching out to them where they are through social networks allows you to supply something they need in a way that makes it easy for them to buy.
 
It’s not only easy for people to buy from you online, it is also easier for them to find you.  People
don’t open the phone book when they want to find a local business anymore.  They search online.  And, by contributing to that, you also help to provide a valid, useful, meaningful place for people to connect online.  That is huge, particularly in times of economic instability.  People crave social and business interaction and they trust those who provide a comfortable atmosphere in which to do both.
 
The final thing to consider is this: chances are that people are having conversations online about you already.  Some have heard of your business and are discussing your services or products with their friends.  By tapping into the social networks, you get to hear what they say.  And as they talk
in your presence, you can possibly even moderate it.  And if they’re doing it anyway, you want them
to do it on your turf.
 
If it’s done through a network you set up, you can save and store the conversations for future reference.  This allows you the opportunity to pass on positive comments so others can hear them and to avoid negative references by submitting helpful information and even offering to discuss potential misunderstandings about your company. 
 

You become a friend to the people who are talking about you and increase the chances that their feedback about you will be uplifting.  This is an opportunity that you can only take advantage of by engaging in social networking and engaging your clientele in the communities they are already a part of. This is important because we’re social creatures by nature. As social creatures, we seek transparency from our fellow human beings and a company that is willing to be transparent with its clients earns their trust.