HOW TO: Get the Most From a Small Business Social Media Presence

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Today's reality is that your business needs to be on social media, but the mere existence of your business on sites like Facebook and Twitter doesn't guarantee a single sale, or even a single referral. In order for businesses to succeed in the social media space, they need to be properly educated on what works and what doesn’t. More importantly, business owners need to have realistic goals about what they'll get out of social media.

When the right tools are used effectively with the right motives in mind, social media can have a huge impact on small business marketing and customer service efforts. You just have to understand how to properly determine and assess the return on investment you’re looking for.

I asked a panel of successful Gen Y entrepreneurs how small businesses can go about getting the most out of their social media marketing and how they can convert more of their existing social media followers into paying customers. Here are their responses.

1. Experiment With Social Networks

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- Dan Schawbel, founder of Millennial Branding, LLC

2. Quality, Not Quantity

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- Adam Toren, co-founder of YoungEntrepreneur.com

3. Lead Your Followers Down the Purchasing Path

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- Matt Mickiewicz, founder of 99designs

4. Engagement = Consumers

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- Shama Kabani, president of The Marketing Zen Group

5. Use Social Media to Make Friends, Not Leads

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- Matt Wilson, co-founder of Under30CEO.com

6. Give Them Something To Talk About

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- Nick Friedman, co-founder and president of College Hunks Hauling Junk

7. Numbers Aren’t Everything

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- David Rusenko, founder of Weebly

8. Monetize Other Channels

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- Ramit Sethi, New York Times best-selling author, I Will Teach You To Be Rich

9. Show Followers What They're Missing

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- Ashley Bodi, co-founder of Business Beware

10. Remember "Top-Of-Mind-Awareness"

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- Michael Simmons, co-founder of The Extreme Entrepreneurship Tour

11. Go Freemium to Build Premium

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- Jordan Goldman, founder of Unigo

12. Foster Genuine Interactions

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- Anderson Schoenrock, co-founder of ScanDigital

What other advice would you give small business owners about getting their social media plans on track? Let us know your tips and advice in the comments section.

More Business Resources from Mashable:

- What to Consider When Building an In-House Social Media Team

- 5 Tips for Marketing Online to an International Audience

- What’s the Value in a Brand Name?

- 5 Big Brands That Are Rocking the Social Media Space

- 9 iPhone Apps for Managing the Recruiting Process