How can Social Media do Differently for MSME’s? BYCOL ARUN GANDHI (RETD)WWW.ARUNODAYCONSULTANTS.IN

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Phases What is Social Media? Pareto’s Principle(80-20)as per JURAN Why is Social Media so Important for Small Businesses? What is so special about Mumbai’s super efficient

dabbawalas? Why aren’t the MSME’s already doing it? Factors Influencing MSME’s Adoption of Social Media Effective ways to use Social Media Social media platform -Two way Communication Recommendations

What is Social Media?Social media are the various forms of user generated content and the collection of websites and applications

that enable people to interact and share information online

Facebook -1.3 billion users Twitter (Short messages of 140 charcters or less)– 232million users Google + 300 million active users (use Google Hangouts as Video Chat forum ) LinkedIn – 250 million users Pinterest – 2.5 billion users Blogs (Wordpress) Video sharing sites (YouTube) Photo sharing sites (Flickr) Crowdsourcing (Wikipedia)

Impact of Social Media Social media has changed the delivery, structure, and availability

of information to reach current and future customers and others. Small business leaders are using social media marketing to

promote their business to gain visibility, viability, and sustainability to survive in the current competitive era.

75% have a company page 61% use social media for identifying and attracting customers 57% have built network through LinkedIn. 32% consumers are using online social networks to find about

business and their products and services.

Challenges of Implementation

Lack of securityEngagementDuplication of ideasProtect your online reputation

Pareto’s Principle(80-20)as per JURAN

Develop the 80-20 rule where 80% is giving, and 20% is self-promotion.

80% of problems come from 20% of causes and that management should concentrate on the 20%(Vital Few and Useful Many)

Give your market what they want - education, information, discounts and offers

Give to Get

CustomerEvery succeeding stage

should be treated as a customer for the preceding stage.

Why is Social Media so Important for Small Businesses ? It finds you customers and builds clientele It gives businesses the ability to find out what people

are saying about them (and others) in their industries It introduces your brand It gives you feedback about your brand It provides a test audience (vs. focus groups)Solidifies your reputation as a valuable and

knowledgeable resource

What is so special about Mumbai’s super efficient dabbawalas?

90

Key element in their success is shared ambition or vision or profound sense of mission to fulfill an important social need of a healthy and economic meal for the working population, apart from making a living.

Why aren’t the MSME’s already doing it?

Factors Influencing MSME’s Adoption of Social Media Customer loyalty changing very fast Disruptions Fear of unknown and owners/founders not being

tech savvy. Marketing isn’t their expertise. Networking is still done the old way. Outsourcing not done. No budget allocated

Effective ways to use Social Media Use images for more engagement Create better & a new attention-grabbing headline title

(preferably small) Share at the right time on the right platform and post

multiple times Ask questions, don’t just drop links. Share Maximize your brand advocates – employee

advocacy. Leverage communities – two million communities on

linkedIn Experiment with content creator communities – Triberr,

Social Buzz Club, Viral Content Buzz.

“The business strategy that succeeds at one stage causes failure at the next stage”

Social media platform -Two way Communication

Enables MSME,s to engage in a dialogue with users about their product.

Develop a clear understanding of your market and develop a close relationship.

Customer always compares the experience with the expectation.

Social media allows a small business to get that comparison almost immediately, be it negative or positive.

Gives them opportunity to respond quickly to market needs. Communicate with the user to remedy any disappointment that

may have arisen from unmet expectations.

Share Success Stories

Recommendations

Customer relationship managementBuilding communities NetworkingEvent based marketingMobile marketingRaving fansSimplify social media

In today’s fast-paced media environment where social media has given everyone license to be a thought leader and contributor to the conversation MSME’s need to be prepared to defend their reputation.

Important links on Facebook

https://en-gb.facebook.com/business/learn/facebook-tips-recommendations/

http://blog.reachlocal.com/3-small-businesses-that-are-successful-on-facebook

http://www.adweek.com/socialtimes/category/facebook