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TME 2011: Small firms missing out on social media

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  • 07/12/2011
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Small firms need to understand the major role social media plays to help them compete for new business, said a commentator.

Speaking at The Mortgage Event in Bristol today, Matt Smith, managing director of Creative WPB told delegates small firms should be using social media more to open up their businesses to new and existing clients.

He said: “Small businesses go out there to fight with a stick for business, so social media can be an invaluable tool to help them achieve that.”

Smith told delegates that benefits of using social media include 88% more brand exposure, 72% increase in web traffic and an uplift in search engine optimisation (SEO) by 62%.

He explained 80% of twitter accounts are voyeuristic, so exist but do nothing, and that brokers should dedicate some time and effort to communicate with their audience.

“Social media gives you the tools to express yourself and show your dedication and passion for what you do. That is engaging to consumers and will draw them towards you. As with anything, context is key. You got to have something interesting to say.”

He added that brokers should not use the likes of Twitter and Facebook to solely advertise their business.

He said: “You can’t just buy advertising space you’ve got to earn it in the world of social media. Your priority should be to communicate and engage with your clients.”

Smith told delegates that mobile social networking is growing fast and is one of the main drivers of social media content.

“You have to remember that almost all of your clients will have a mobile phone on which they can access social media. Apps are increasing people’s willingness to use mobiles, so you have to make sure you’re a part of the social media world to reach out to these people.”

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