Could Your Small Business Survive Without Social Media?

Like other businesses, Victory State Bank uses social media to educate others about the quality of its services.

An article at OpenForum.com asks, “Could your business survive without social media?”

According to the article:

 If the answer is “No,” you’ll be just as surprised as I was to discover that in a recent survey by small business insurance provider Hiscox, a mere 12 percent of small business owners surveyed described social media as a “must.” In comparison, a whopping 50 percent said word-of-mouth was essential to their businesses.

These two figures reveal a strange disconnect. Aren’t “social media” and “word-of-mouth” pretty much the same thing?

Word-of-mouth has always been a major marketing tool for small companies. Social media hasn’t changed that; it’s just amplified the power of word-of-mouth. Instead of your customers sharing their experience with a few people they happen to run into over the course of a week, they can now broadcast it to hundreds of their friends, or to thousands of people reading their blog posts, or to millions of people reading online reviews.

About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com . 

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