Why Now is the Time to Open a Social Media Management Business

Business Overview:

Starting a social media management business is the perfect way for Internet savvy entrepreneurs to put their skills to work for other businesses. If you are unfamiliar with the practice, social media is the broad term used for social networking sites like Facebook and Twitter, as well as blogs and other Web communities. In today’s technological environment, it is crucial for businesses to use these outlets to market their goods and services. In a recent report , over 90% of surveyed businesses used social media marketing and one-third of these businesses said that social media helped them make sales. Other advantages of social media marketing reported by these businesses include an increase in web traffic and sales leads, a rise in search engine rankings and a drop in marketing expenses. As you can see, this business idea is hot right now and there’s no better time to jump in and help struggling businesses take advantage of this technology. There are several different services your business can offer. You could offer consulting services that would analyze a company’s current social media presence and offer recommendations for ways to improve their marketing efforts. You could create and implement a new social media marketing campaign for businesses who either don’t have a social media presence at all or need improvement. Finally, you could offer evaluation tools that would effectively measure a new marketing campaign. Since these social networks are entirely online, you can operate this online business idea part-time from your home, unless you prefer to build it up into a full-time business venture. You will, of course, need to have experience with social networks and be able to show your clients measurable improvements in order to be successful in this business. But with a few happy clients under your belt, your client list will grow and you soon may need to hire additional staff to help you with your efforts.

A Day in the Life of a Social Media Marketing Business Owner:

Your day will begin with a check of Facebook, Twitter and any other blogs you and your clients are involved with. You will monitor and record any comments and follow up on any message board threads your company has an interest in. You will search for individuals and businesses to follow and become fans of. You will spend a portion of your day marketing your own business, which you can also do on social media networks. You will also market on different industry websites and in publications. If you have a staff working for you, you will coordinate their efforts and check in on their progress.

About Your Customers:

Your customers will be business owners and marketing managers of both small and large firms who need your expertise and recommendations on how to better their businesses using social media.

What You Need to Start:

• Expertise in social media networks and marketing
• Computer with high-speed Internet access
• Financial software

The Good:

• This type of service is in very high demand today.
• You can easily run this business part-time and from home.
• This is a great way to stay current with the latest social network inner-workings.
• It is rewarding to help businesses become more successful.
• Your schedule is flexible; you don’t have to work regular business hours.

The Bad:

• You may find yourself working irregular hours to stay on top of the social network scene.
• You will need to get a few small clients on your list before any larger firms will hire you to handle their social media.

Resources:

• Word of Mouth Marketing Association
• International Social Media Association
• Bureau of Labor Statistics on Public Relations Specialists
• Wikipedia on Social Media

About The Author

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