Looking at the numbers alone, it is clear that the majority of small businesses who run social media networking campaigns enjoy positive results.  Still, if you are a gambler, then you know that following the odds does not always ensure success.  The following will help to realistically appraise the chances of success and tip the odds even further in your favor.

The 2010 Social Media Marketing Report posts that 85% of campaigns generate exposure.  Additionally, more than half of the campaigns run: 1) increased traffic and subscribers; 2) resulted in new business partnerships; 3) increased search engine rankings; and 4) produced qualified leads.  48% of the responders to the poll reported that social media helped to reduce overall marketing expenses.^[1]

What that means is that it is likely that starting a small business account on Facebook, Twitter, or Digg will help you achieve your marketing goals.  It is still possible that social media can backfire, it is just unlikely.  But to make it even more probable that your time will convert to marketing goals, I have included some tips below:

How to Avoid Social Media Marketing Failure – Bad Customer Feedback

One of the primary concerns of sole proprietors focuses on their product.  They worry that consumers will criticize their product and generate bad buzz.  First off, if customers would criticize your product on social media, then they are probably already criticizing your product in other areas, such as by talking to friends, writing bad customer reviews, and so on.  So, really, what do you have to lose?

One of the benefits of social media is that it provides a free way to receive customer feedback.  Reading what your consumers have to say can give you information that you can use to improve the product.  In addition, engaging with customer feedback can be a great way to turn public opinion around .

But there is an even easier way to make sure that your social media contacts will praise your product.  Rather than changing the product, change the customers.  Simply find the people who will love your company, and market to them.  Here’s how:

1) Ask – “Who will benefit most from using my product?”

2) Find them – Start with the network they are most likely to use – Facebook, Twitter, Digg, etc. – then locate groups they are likely a part of

3) Listen – Read what they are already saying

4) Engage – talk to them (Do not try to sell your product, social media is best used for gaining contacts.  The sales will follow.)

Sites, such as Facebook and Twitter, give small businesses the opportunity to conduct real market research and interact with potential consumers.  The odds are in your favor: if you start a Facebook fan page, you will achieve important marketing goals.

Still chicken?  Read the next article in this series about the role small business employees can play in social media.