Although Facebook has solidified itself as one of the most effective social media hubs on the market, many business owners are actually misinformed as to what to really expect from the service. If you are an SMB and looking to acquire new customers from Facebook, you are likely to be very disappointed with your results.

Facebook has finally come up with a real use for its system of "likes." With the implementation of Facebook Nearby, the like system that has taken the Internet by storm will now actually be used to separate and rank the recommendations that Facebook gives to individuals. Perhaps the most interesting aspect of Facebook Nearby is that it is a specifically mobile program.

Looking for endless free promotion of your small business? These 7 steps may take a few hours, but what's it worth in terms of reach and free promotion? Invaluable. The only cost is your time. The Return On Investment is up to you. Engage with customers online where they spend the most time, and win big! Simple. These are my top picks which I believe should be your first priority each day to get the most traction to rise to the top in your local arena. 

Mistake #1 Not Using Social Media.

Surprisingly, most companies still haven't discovered the strength that social media has within their community. With social media, you can get THOUSANDS of blog hits, likes, comments, and just generally build up a customer base. Social media in general is so big that you can't JUST be on Facebook. People are going to want to follow you on Twitter or Pinterest too. As long as you keep up on the social media accounts you create, you'll be fine.

"Simplicity is the ultimate sophistication." - Leonardo da Vinci

Some of these strategies are basic. Some are advanced. Some are VERY advanced because they are so simple. It is hard for many of us to get back to basics to leverage the power and simplicity of the fundamental social network structure rather than relying on the sophisticated platform solutions that may exist to tie them together, causing automation and speed yes, but perhaps dehumanizing our engagement efforts to highly personalize. There is power in granularity and personalization. With the surge of social media evolution, people have become caught up in the cool widgets and technology for technology's sake mentality, often at the expense of the basic details. "The devil's in the details" as my mentor Kevin O'Connor, founder of DoubleClick, always likes to say.

What is it?

Buzz is an understatement for the talk that's been going on about Pinterest lately, and a lot of business owners are asking just what it is. Many of us are unable to keep up with all of these social media sites that seem to be popping up like dandelions on the front lawn. But, for small business owners, Pinterest is one that you should definitely get to know. Pinterest, a virtual pinboard and photo-sharing website, allows users to "pin" and organize anything they find interesting on the Internet. Common uses of the site include developing home decorating ideas, wedding plans, fashion ideas, or browsing tech trends. Essentially, the site can be used to explore anything.

If you are a small business owner and you are apprehensive to Yelp, you're not alone. To many, the internet itself is a beast that small business owners just don't want to face, ready to swallow them whole much like Amazon.com has made many small bookstores need to rethink their traditional business model and marketing plan. Don't worry though, Yelp is a happy smiling Monster like Mike from Monsters Inc. Started in 2004, Yelp is an urban online directory that allows visitors to find, talk about, and then review local businesses from restaurants to hair salons. The scary part?

Apple sold 37 million iPhones in the fourth quarter of 2011 alone, an intimidating number that propelled the iPhone back to its number one ranking in the league of smartphones. The iPhone 4S' new feature, Siri, can be accredited for this sudden craving for the desirable smartphone...but why?

Foursquare is an application for smartphone users that enables small businesses to engage with their customers by allowing users to check-in at a venue and leave helpful tips; these check-ins appear on the user's Facebook or Twitter and act as a personal endorsement for the business, while allowing them to share their experiences with their social network.