PRESS RELEASE: “Social Networking for Entrepreneurs” Offers Practical Strategies for Leveraging Returns on Social Media Investment


DATE:June 20, 2012

(Chicago, IL) The Entrepreneur Group of Union League Club of Chicago, a member panel of professionals, successful business owners and executives, co-chaired by Todd Hext, of Eclipse Telecom, and David Lynam, of Lynam & Associates, provides support and guidance to Chicago entrepreneurs from start-up to growth stage and beyond.

On Monday, June 18th, Lynam hosted the “Social Networking for Entrepreneurs: Boon or Boondoggle?” luncheon at the Union League Club of Chicago, where an audience of Union League members, entrepreneurs, professionals and students participated in a discussion of the benefits and disadvantages of social networking for entrepreneurs, professionals, and small businesses, as well as  strategies using Linked In, Twitter, Facebook and blogs in light of the return on the investment of precious time and resources these digital tools require.

Presenting at the luncheon were Mike Manning, of Fusion Accounting, Steve Fretzin, of Sales Results, Inc., and Irfan Jaffrey, of myKozmo.com.  All three panelists emphasized the importance of comprehensive sales and marketing strategies to leveraging returns on social media investment.  “Social media is really a tool,” said Manning.  “It’s a matter of taking the traditional concepts of sales and marketing, and figuring out how to plug those tools in to be able to achieve those strategies that you already have.”

Fretzin reserved particular praise for LinkedIn as a tool for small businesses due to the platform’s professional focus and user base.  “LinkedIn is a way to proactively take charge of your network and move [your business] forward,” Fretzin said.  Fretzin cautioned, however, that passive users of LinkedIn are not doing enough on the platform to actually generate new business, and emphasized the importance of taking action to utilize one’s existing connections to make new connections and expand one’s client base.

Moving on to specific strategies, Jaffrey outlined three components of a successful social media campaign, all of which emphasized narrow targeting.  “The shotgun approach doesn’t really work well,” Jaffrey said.  First, businesses should focus on attracting target market as the primary audience of the campaign.  Second, social media content should be targeted to that audience.  Finally, businesses should utilize the advantages of social media to engage one-on-one with their connections.

The Union League Club Entrepreneur Group meets monthly to provide a forum where entrepreneurial ideas can be exchanged and new business ventures can be developed.

David Lynam can be reached at firm@lynamlaw.com, and Todd Hext at thext@eclipse-telecom.com

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