Why every business should use social media
As internet growth reaches mammoth proportions and accessing the internet becomes easier than ever through the use of smartphones, PDAs and tablet PCs, the popularity of social networking websites is reaching new heights. Over the years, websites like Facebook, LinkedIn, Twitter and MySpace have grown so popular that there are now over 600 million active users on Facebook alone. This makes it even more difficult for business owners to ignore social media.
Social media, if used effectively, can enable businesses to create brand awareness, attract customers and generate new leads. For instance, creating a profile for your business on Facebook implies you’re opening your doors to millions of people who otherwise would never have heard about it. A Facebook profile gives you the opportunity to advertise your products and familiarize potential customers about your company’s vision, mission and culture.
Most business owners view social networking profiles as nothing more than a digital business card which can be accessed by users at will. They fail to realize the true potential of such profiles. The fact of the matter is, an online profile not only provides easy access to all the information potential customers would like to have about your business, it allows you to interact with your target audience, perhaps even more effectively than you could by traditional means such as over the telephone. It gives people an opportunity to learn more about your products or services in detail and make informed choices, without being engaged via cold calls or direct advertising which many consider annoying or even a violation of their privacy. Not only that, visitors can optionally subscribe to your business profile in order to keep themselves up to date on any new deals and promotions. This creates an environment of trust which is pivotal in establishing long-terms relationships with customers.
Marketing and advertising products and services is key to the success of any business. Social media can help businesses cut down on advertising costs by enabling them to reach their target audiences more effectively. Brand managers and marketers are well aware of the importance of word-of-mouth advertising, or in other words referrals. A social media profile increases the chances of obtaining large numbers of referrals. If a business has 100 followers (or fans) on its Twitter or Facebook profile, every follower in effect is offering you a referral simply by subscribing to your page. Each of these followers has on average 30 friends (or followers) which means you have the ability to reach 3,000 potential customers through their newsfeeds. To create awareness, businesses can engage people by creating events or starting contests which can help attract more people and increase its popularity manifold.
Many social networking websites such as Facebook encourage businesses to establish online storefronts. Through these storefronts, which usually have no fees associated with them, companies can sell their products and services directly from their social networking profiles. This provides users a quick and easy means of finding what they want.
Businesses stand to gain a lot from maintaining a social media presence as it allows owners to get the message across quickly and easily. Popurlar brands and corporations such as Starbucks, Disney, Coca-Cola, McDonald’s and MTV all have a social media presence and boast millions of followers. If small businesses fail to utilize social media as an effective business tool, they are likely to be left behind by the competition.
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