Social media can be a powerful tool for small businesses looking to get the word out to a local, national or even global audience, experts say. Entrepreneur Tom Byrnes says his toy company, Fun Packs, saw its business double after he started using social media. "The biggest advantage for us in having a social media strategy has been the ability to make the world smaller ... to reach out to potential customers across the world who do not know our product even exists," Byrnes says.

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