Social Media is the new buzz word. While there are stories of big brands leveraging the power of the social channel to their benefit, there are often questions on how smaller guys can use this channel to increase revenue. Peter Wylie discussed 5 ways in which small businesses can use social media in this article: http://www.socialmediaexaminer.com/5-small-business-tips-for-social-media-success/
These 5 ways include:
1) Writing about more than just your business. Perter wants you to write about relevant content that is related to your business. The example he uses is that or a DC area Realtor who along with promoting the core realty business offers general advice on the DC area.
2) It is important to offer value to consumers who come to your site. If the content is not appealing and relevant to the user landing on your social site they will have little incentive to stay and read what you are offering.
3) Peter mentions consistency, i.e. posting frequently about interested and related content for your users.
4) It is important to have diversity in content. Think about it, who would want to read the same stuff over and over...
5) Be sure to monitor your competitors and learn. Be sure that you observe their actions and outcome closely. You will be surprised that competitors always teach you a lot and who knows you could possibly get a brand new idea of your own from their tactics.