Social Media as a Tool to Increase Brand and Business Value
If you plan on buying or selling a business, remember that a strong social network and online presence is an important aspect of a company’s goodwill, and, ultimately, increases the brand and business value.
Commit to Learn
Social media websites evolve rapidly and, as such, we must too. In the early stages of your company’s ascent into the online world, take advantage of the enormous amount of resources provided by the specific websites that you choose to incorporate into your marketing plan.
As an example, LinkedIn has created video crash courses to help new users, individuals and businesses alike, take advantage of the opportunities the professional networking site creates. Follow this link to begin Learning and, while you are there, don’t forget to follow Beacon Corporation, Brokerage!
It is not enough to join the online networks; you must be active on many fronts. There are many decisions to make on how your company will operate online and with what goals and objectives in mind. For example, is your focus on strengthening customer relationships? Once you have a clear objective, decide on a concise plan of action and begin creating your company’s online presence.
It is equally important to be actively tracking results and responsively adjusting your marketing plan to maximize efficiency. The Internet can be overwhelming for some businesses but with a commitment to learning and active participation, it can reap great rewards.
Consistency is king. Be patient with your efforts and allow your company enough time to achieve results. All too often, businesses abandon their online marketing plan because of perceived ineffectiveness. Should you reach this bump in the road, stay on course. You will find your audience in the long run and it will be worth it.
Increase Business Value
Commit to ongoing learning. Be active and consistent. If you are currently in the market to Buy a Business, being savvy with social media can anchor your new company by maintaining strong customer relationships during the early transition period.
When the time comes to Sell your Business, having a successful online marketing program will demonstrate to potential buyers the strength of your company’s brand. For a business owner, the efforts of maintaining an online presence will be rewarded with a higher business valuation and increased enterprise value.