Wednesday, 22 October 2014

Benefits of being on social media and fetching business through it

Social media platforms are a very powerful driver of business success. The brands who are not using these social tools are only doing so at their own peril.

The benefits of using social media for business are immense.  However, mastering social media requires effort and diligent application of strategic thinking. Those who understand its concepts and processes reap huge benefits.

Social media marketing
Social media marketing is the most popular benefit that social platforms bring to businesses. Brands can use channels like Facebook, Twitter and Yookos to build their brands, establish a good reputation, increase their sales and engage with their customers more strongly.

The brands can use social media for content marketing purposes. Whilst content is the fire, social media is the petrol that make it spread widely. Video marketing is also covered under this umbrella. Research has shown that video marketing is the future of social media for business.

Social media platforms enable businesses to achieve their marketing objectives at a fraction of the cost in comparison to the other forms of advertising.

Audience Insights
Brands can get insights into the preferences and demographics from their social media footprints. Social networking sites gather a lot of important data and behavioural metrics of the users. This is useful intelligence that enables brands to understand their customers better and sharpen their targeted marketing.

Customer intelligence is an important business asset that is now being given the same importance as human resources and capital. The reason is simple. Deep knowledge of the customers enables businesses to supply them with the products that match the exact specifications of their requirements.

Customer Service
Social media is all about conversations between companies and their customers. Customers are using social networking platforms to register their dissatisfaction with a product and also to make general enquiries.

Social media platforms thus enable businesses to surfaces challenges faced by their customers and to address them accordingly. This creates a win-win scenario where the voice of the customer is heard whilst businesses can do a lot of damage before the situation gets out of control.

Polls and Surveys
Social media platforms enable companies to conduct polls and surveys. These are very important since businesses can learn a lot from poll results. Information gathered from polls and surveys can be used to improve the quality of a product or service delivery.

Social media is an indispensable component for any business in any industry vertical. The social networking tools level the playing field that equalise small and big business. The social media uses outlined above facilitate customer acquisition and foster long term loyalty.

1 comment:

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