There are only two kinds of businesses—online onesand out-of-business ones.
– Bill GatesNo matter what type of business you have, its success depends on two things: It must serve a need and you must find customers. Most new businesses fail simply because the right people never heard about them. Along with traditional marketing and advertising, many businesses advertise via the Internet through Web advertising, in online publications and with their own Websites.
But MySpace and YouTube generate more traffic than Yahoo, Google and MSN, the three most popular search engines. You can take advantage of this free exposure by participating on these social networks. Social media sites such as MySpace, YouTube and Facebook allow members to create profiles of themselves or their business.
Social networks can provide free, additional exposure to a worldwide pool of new customers. In addition to traditional advertising, hundreds of thousands of businesses, large and small, are leveraging social networks to lure new customers, often at virtually no cost.
Research conducted by LastMinute.com reflects how much time we spend in different areas of our lives (with a life expectancy of 76 for men and 81 for women), which may bring some insight about the importance of Internet presence. Times will vary by age, country, life expectancy and gender. Most activities will stay close to the same, but Internet use will continue to skyrocket.
Women spend one year of their lives exercising; men spend two years. Women spend one to two years shopping; men, one year. Both men and women spend three years driving. Women spend 13 years watching TV; men spend 10 years. Women spend four-and-a-half years eating; men eat for four years. Women spend six months “in the powder room;” men spend three years on “the throne.” Women are on the phone five-and-a-half years of their lives; men for four years.
Statistics show that women are on the Internet up to six-and-half years and men up to seven years, which is dominated MySpace, YouTube and Facebook. If this is true and steadily climbing, we ought to generate a strong and consistent message for our businesses on the Internet. You will gain new worldwide customers and create a following—and this is wise business.
Chevy Tharp is regional vice president, Hawaiian Islands and Western U.S., for Meridian Business Brokers & Meridian Group Hawai‘i. Tharp is an international business consultant and business broker who specializes in helping people buy, sell and improve businesses. He welcomes you to contact him at chevy@mghawaii.com or (808) 268-6131.