Social media offers low-cost customer acquisition strategy

4/28/2011

Many business owners use social media to connect with their friends and associates, but most still question whether it can be effectively leveraged as a marketing tool. However, as Business Insider recently suggested, the communication medium can be used as a customer acquisition tool if business owners are smart about the way they utilize it.

"Social media offers small businesses an inexpensive, relatively friction-free way to accomplish different business functions, from generating new leads to getting input for new product development," explains Business Insider writer Ramon Ray.

However, entrepreneurs need to be active on social networks to enjoy any sort of success. Making a status update once a month or only writing a handful of blog posts won't generate any sort of community awareness. Instead, they need to offer relevant and valuable information on a regular basis.

If business owners don't have the time to manage their social accounts, they should consider taking out commercial loans to hire a third-party freelancer. This ensures their social presence is in the hands of a social media expert.