Diversify Your Portfolio: How to Ensure That Social Media is Working for You!

Companies of all sizes are using social media to develop their brand or to keep it current. Many companies are looking to social media tools like Facebook, Twitter or blogs for help in this effort, but the question is, are these sites helping to build their brand?

In the article 5 Creative Location-Based Campaigns for Small Businesses to Learn From, Mashable.com takes a look at a few small business owners that are big supporters of social media for company growth. In the article, Todd Wasserman explains that business owners are using the application Foursquare as a useful tool to help with business branding and reaching a new audience. This application lets you “check in” at a location, and then sends this information to your social networks so that your friends can see where you are. The companies featured in the article are taking Foursquare a step further by offering incentives from their businesses, like free food or gifts to help lure the customers in and keep them talking about their company.

While this use of social media to advertise your brand may be, in theory, a great way to get people to start talking about your company. The reality is that the social media, Foursquare, is only familiar to 30 percent of Americans, according to an article by Arik Hanson called 14 Social Media Stats For Your Next Presentation. Although, Foursquare is not a big market for building your brand, it is a great supplement to other more traditional methods of advertising. Foursquare helps keep the connection between the company and sites like Facebook and Twitter so that everyone can keep track of the customers at your business, and get the brand name out and mentioned more frequently.

One statistic I found interesting from the same article was the breakdown of people using each social media site: 92 percent use Facebook, 29 percent use MySpace, 18 percent use LinkedIn and 13 percent use Twitter. So what does this mean for your company?  Namely, if you are going to use social media in your company’s branding, it’s important to diversify across multiple platforms. This statistic shows that it is useful to brand your company using social media, the more media outlets your brand is recognized with the more promotion is given to your company and brand name.

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