For the time being small firms are making the most of the new social media outlets. Due to compliance policies, or the lack thereof, larger firms are unable to spread their firm’s name and/or their specific expertise through any blog posts or a ‘tweet’ here and there.
So the small firms (around 25 people and under) are making the most of this opportunity and gaining a leg up on their larger competition. Small firms are able to be involved in the social media world and remain in compliance by using cloud based social media archiving solutions – solutions that are perfect for a smaller organization focusing primarily on blogging, Twitter and Linkedin. Examples of such products would be Backupify, Dexrex Gear or Iron Mountain, all solutions that deal with social media and messaging archiving.
So are these cloud solutions the way for smaller firms to get on a level playing field? According to Brian Babineau from Enterprise Strategy Group, who was quoted in an article from October’s Wall Street & Technology, he thinks ‘yes’. Babineau was quoted as saying that “although social media users are currently a small subset (of all financial firms), small sparks start big fires.” I have to agree with him. If you put one good thought out on the internet it has the potential of going viral and being re-tweeted, commented on, and/or forwarded to anyone! Meanwhile, other firms have been saying that social media is helping them gain more notoriety and they are able to strengthen and grow their presence like never before.
So small firms now have a voice using cloud solutions that will allow them a unique opportunity to step ahead of the big boys and go forth and conquer! But is this only a short-term quest? What will happen when compliance policies for large firms are in place? Will the small firms once again be swallowed up or will they remain as equals on these social media platforms?
You can speculate on the answer to that question yourselves, but while you’re thinking on that, small firms in the industry are out there posting their latest blogs and tweets in an effort to gain trust and create confidence in their investors on a platform where their bigger competition is nowhere to be found!