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Follow the New Play Book for Business Success

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August, 2009
Issue 48

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Your business is probably scrambling to adjust to challenging economic times like so many others. As you examine your operating costs, inventory management and marketing plan, be aware that a new play book is in force.
 
Only a few years ago, businesses could count on powerfully well-written print and media advertising to put their names in front of potential customers. The best commercials with the slickest slogans often paid off in impressive sales for the company. Then word of mouth, especially among consumers bent on keeping up with trends, guaranteed many companies a wave of even more profits.
 
But times have changed. The former ways of attracting business–playing golf with the movers and shakers, investing in well-written ads and staging extravagant promotions–still work to some extent. But the ability of consumers to communicate with each other and with companies via social media has upped the ante and brought a new play book to the game.
 
Obama’s success in the 2008 presidential election was the dramatic proof of the power of email, text messaging, Twitter and Facebook to make the ordinary citizen a reporter, editor and news correspondent all at the same time. News stations even began to respect and buy photos of late-breaking news shot with cell phones especially since in some cases these photos could capture news as it was happening.
 
As more companies recognized the power of Twitter, for example, the owners and CEOs made themselves accessible where consumers and users could ask them questions or voice complaints directly rather than going through the traditional channels. When I saw the owner of EzineArticles was on Twitter recently, I asked a question and got a response in a short time.
 
What does all this have to do with your business?
 
Many business owners are still questioning whether they should be participating in Twitter, Facebook, LinkedIn, Biznik and some of the over 100 social media networking sites. It’s no longer an either-or. If you want to compete in this new business arena, you will need to follow the new play book.
 
The way you use these social media sites will depend on your business and how creative you can be.
 
Street vendors have created buzz and excitement for their fast food by using Twitter to let fans know where they will be parked on given days. Here in CA, for example, there is a Korean barbecue taco company that tweets the different location of its three trucks daily. Enthusiastic fans line up to get these unique and delicious combination of Korean and Mexican flavors. Such a clever use of Twitter has brought attention, new customers and most important, increased profits for this company.
 
Can you think of clever and creative ways you could use social media to promote and market your business? When you do, you’ll be successfully following the new play book.
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