Monday, 17 February 2014

Business Research: How LinkedIn helped to Grow Small Businesses

Social media is always the first place you can turn and reach your customers unless your business establishment has a massive marketing budget. One of the most influencing social networks when it comes to business is LinkedIn. According to the recently released study by LinkedIn, an overwhelming percentage of small and medium scale business (SMBs) grows exponentially with the help of social media to reach their customers, drive business insight, grow their audience and drive more sales.  



In this study, more than 1,000 SMBs who uses LinkedIn were interviewed. The aim of the study was to find out new insights on companies’ activities on social media as well as best practices carried out on the networking sites built for professionals.

Apart from portraying the professional outlook of your business, LinkedIn has the potential to enhance content syndication and build more exposure.
According to this study conducted last November, 81 percent of the small and medium scale business who use social media drive to business growth, while a massive 94 percent make use of social networking websites for marketing purposes.

Additionally, according to the study, social media and social networks provides small business owners with solutions for quite a number of challenges including ability to find new customers which was their utmost concern           

There are several tips and strategies you can adopt to enhance your business productivity. You can just Google ‘uses of LinkedIn for small business’ and you will be amazed with relevant results you will see.   
A Group Product Marketing Manager @ LinkedIn – Lana Khavinson stressed that the penultimate step to getting superior result from LinkedIn is to build a robust, strong and captivating profile for your business or brand        

According to her, companies and individuals who are successful in LinkedIn are using their company and personal profile to display their brands and also post their updates to engage with the networks. LinkedIn has the ability to syndicate your post and enhance viral reach to potential customers that every small business owner is hoping to achieve.      
It might interest you to know that about half of the small and medium scale business surveyed also use social network such as LinkedIn for learning. Almost 80 percent reported that industry or business specific news and updates is the most valuable form of content on social media. Also, 74 percent agreed that customer reviews, opinions and testimonials is the net most useful contents that drives sales from the social media.      

Another thing I learned from Khavinson is that, successful SMBs are also taping into groups and networks. They not only learn from the individual members of the groups but they are also able to share their know-how, expertise and situate themselves in a way that promotes interest and consideration to their business.      

According to Khavinson, companies should pay more attention to what a few influencers in their company are sharing on social network in order to analyse how they can apply this to their businesses.

Read Also: 7 Ways to Make Money from Real Estate Business in Nigeria

So, networking becomes very vital and LinkedIn has really made this easy. It’s a good ideas for industry influencers to follow other companies in almost the business and keep tabs on what competitors are up to.  

Final word.

Have you had your brand on LinkedIn? If not, try LinkedIn and you will be glad you did.  If yes, try and update and enhance your profile. Please tell us how you are maximizing the use of LinkedIn for your business.  

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