I’d like to share some excerpts from a business article written by Russell Rothstein, Founder and CEO of Sales Spider http://www.salespider.com/, a business social network specifically geared for small to medium-sized businesses (SMBs).
Marrying the SMB Marketplace With Social Media Networks.
While traditional advertising methods using TV, radio, magazines and newspapers are still popular, big companies are increasingly turning to social media to reach an untapped cache of customers.
In fact, eMarketer estimates that U.S. businesses will spend $3.08 billion to advertise on social networking sites in 2011, a 55% increase from 2010. Further reinforcing the growth of social media is LinkedIn’s recent S-1 filing, underscoring the general worth of the social media network space.
Given the government’s generosity with SMBs and major companies’ documented interest in using social media as a means to reach new SMB customers through advertising, it makes perfect sense that a social media network dedicated to SMBs would be a popular–and extremely profitable–advertising medium.
Now, by leveraging new, specialized tools (ie: social media networks) to mine the rich SMB marketplace with specialized advertising, companies will be able to capitalize on the many lucrative opportunities that are awaiting discovery.