Link Between Online Social Media and Small Business Success

A study conducted by University of Maryland's Smith School of Business, concludes that nearly one in five small business owners are integrating social media into their business processes. Social media platform, includes blogs, social search, social networking, bookmarking, etc. Social networks, such as Facebook, Linkedln, and twitter are one of the most effective marketing platforms, relative to other social media. This can be attributed to the traffic on these sites. If Facebook, were a country, it would be the fourth largest in the world.
According to a study, Small Businesses are increasingly engaging in social media based marketing, due to the notion that this would help them on the lead generation front. But, here it has been noticed, that many companies fail to recognize these leads and overlook some. This, might result in the loss of potential clients or customers. Thus, it is important that companies regularly track and watch the leads, so as to take advantage of this valuable information.
The fact that, Microsoft Office Live Small Business (http://www.ducttapemarketing.com/socialmediaforbusiness.pdf)  sponsored the creation of an e-book, to educate small business owners about the need as well as the ways of utilizing social media, for the purpose of business optimization, establishes the significance of social media beyond doubt. The e-book, explains in great detail, the ways and means of integrating social media into small businesses and then further improving and expanding, social media use, with respect to small business owners. The e-book states that, participating fully in social media as a business and marketing strategy, requires discipline, automation routines, and a daily commitment. Another important aspect of online social media use, is that, an owner  may always be in touch with customers and vice-versa. This aspect of social media would appeal to the breed of entrepreneurs, who's minds are preoccupied by their businesses, irrespective of being at home or on vacation.

Sources:
http://www.ducttapemarketing.com/socialmediaforbusiness.pdf
http://mashable.com/2010/03/02/small-business-stats/
http://www.interactivemarketinginc.com/lead-generation.htm