Can Social Media Save a Business From the Recession?

I would say that social media has allowed businesses to stretch advertising/marketing budgets and increased the ability to prospect in a more cost-effective manner. There might be a small population of companies who have been able to sustain their business using social media but they are probably few and far between.

I also noticed that companies who never really advertised before and not only using a CRM program now on their website to capture emails but also are using social media to engage with consumers and increase sales. Just a look on facebook, you will find many sales oriented pages for some fancy danshy shops. Even a few years ago, these shops would have never ever created such a presence. Hence, this recession have stirred many business owners to shift their attitude to embrace any tactic that can help save their business at the end of the day.

I also noticed that companies who never really advertised before and not only using a CRM program now on their website to capture emails but also are using social media to engage with consumers and increase sales. Just a look on facebook, you will find many sales oriented pages for some fancy danshy shops. Even a few years ago, these shops would have never ever created such a presence. Hence, this recession have stirred many business owners to shift their attitude to embrace any tactic that can help save their business at the end of the day.

You are right in that there is definitely an increase in the number of companies going to the web and social media sites for advertising that they normally did not do in a more traditional way. If you think about it, a small to medium sized company with a tech-savvy marketing department can accomplish more with less rather than going to outside agencies. There is a group in NYC, the name of which escapes me right now, that promotes startups that do most if not all of their promotion and advertising on the web.