WHAT’S REALLY DRIVING THE SLUGGISH ECONOMY THESE DAYS?

The answer: social media and networking. Online lead generation is what’s driving higher growth profitability despite gloomy economy forecasts to the contrary. Social media is behind this major impetus. It can also be the most cost-effective and expedient means to cultivate one’s business, especially smaller businesses trying to compete with larger corporations. But instead of negating growth and profits, social media and its vast potential for networking abets the process.

For instance, a recent article posted on the web showed how professional service companies generated a large proportion of business leads by means of using online sources. These sources also grew faster and were more profitable than firms without such lead capabilities. (source Hinge Marketing) It was further reported how using SEO networks, blogging and Web analytics were among the most effective online marketing tools for high-growth businesses. Just think what could happen to slow-growth enterprises if the same methods were in place.

And here’s the proof in the proverbial pudding: based on a survey of 500 professional service companies, 77.1% generate at least some new-business leads online; most (48%) generate less than 20% of total leads online and nearly one-quarter (22.9%) generate no leads via online sources. However, 14.8% of firms generate 40% or more of their new business leads online and such firms lead the pack in business growth and profitability.

Now you have idea how businesses small and large and in between really can achieve high growth and profits with online marketing, with social media networking leading the way. We suggest readers look up this URL and learn more (just copy and paste):

http://www.marketingprofs.com/charts/2011/6341/online-lead-generation-drives-higher-growth-profitability#ixzz1dylOXxMs

SBMC Team!