Social Networks Help Small Business Attract Big Customers

Online, October 2, 2009 (Newswire.com) - Sheffield, UK - Everyone is used to scouring the internet looking for low priced alternatives to the things they usually buy. It seems that, as a result of the downturn and the subsequent budget cuts they have faces, big businesses are now adopting similar tactics.

"As a response to the credit crunch, we adopted a new pricing model earlier this year where we let customers set their own price for work they wanted us to do", says Chris Bell, founder of Plain Advice, a boutique marketing firm. "We promoted the offer on social networks like Twitter and LinkedIn and within a matter of weeks we were working on new projects for three major multi-national customers".

The projects have ranged from documenting new product offerings to helping define sales strategies for companies looking to grow into Europe. While obviously pleased with the range of work from the new customers, Bell believes that there has been a clear shift in strategy for business-to-business selling.

"I think what we have learned is that innovation is getting cheaper while the associated risks are simply evaporating", he said. "Previously, something like changing a pricing structure would have taken weeks and would have needed constant explanation to our customers. Now, we make a decision, click a mouse and we are done."

When asked if slashing prices was the new norm for small businesses, Bell broke into a wry smile. "Who says we've slashed our prices? Our offer is pay what you think it's worth. If you think it's worth nothing, there's no point us doing the work, is there? Of course, we've had to be pragmatic in a few instances, but the swings and roundabouts have been fun to ride".