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I think marketing on social media as a microbusiness focused toward the 20% end of the 80/20 rule, and only a very small part of that 20%, too. I’ve made good contacts and met up with like-minded people at conferences and meetups but I’d be hard pressed to say it really herds in customers for me.

For the big players such as say, Kogan for example, social media marketing campaigns involving tweeting a link as entry into a big prize draw probably converts more often than general tweeting about yourself. Educated guess, here. I personally can’t give away big screen TVs to attract customers. If you can, great! For them, I’d imagine social media isn’t quite king, but it’s definitely in their royal court.