Social media-a boon for “Business”

by Tarannum ,July 02,2015 11.00 a.m.IST.

Social media —platform for business —leads to sales, profitability, consumer satisfaction and improved brand image.

Social media networks are computer mediated tools that allow people to create, share or exchange information, ideas, pictures and videos in virtual communities .The quote by Tina Brown justifies the fact “The viral power of online media has proven how fast, creative ideas can be spread and adopted, using tools like cell phones, digital cameras, micro-credit, mobile banking, Facebook, and Twitter”. Social media networks were a novelty 5 years ago, but today, their importance is accepted by business world too. Now, social media marketing is getting a part of marketing and PR mix .Social media tools like Twitter and Facebook have reached the mainstream, forcing many traditional businesses to adopt new ways of communication with customers. People approach to social media sites for information and interaction, whether it is for entertainment or insight. Social media sites offer businesses the opportunity to utilize its volume economy by presenting them a vast user base of potential customers and communications targets for free. Social media is a must-have for marketing of any business. Success stories of Facebook and Twitter are encouraging for upcoming entrepreneurs. More and more companies are developing content marketing strategies, sharing blogs, infographics, and white papers at every opportunity. Appearing responsive and attentive to consumers provides an invaluable opportunity for businesses to build customer loyalty and strengthens brand image. Thus, consumers can relate to a personality that aids them in building up a rapport with the brand, allowing them to connect emotionally with the company.

These are the definitive benefits of social media marketing:

  • Increased exposure
  • Increased traffic
  • Developed loyal fans
  • Generated leads
  • Improved search ranking
  • Grew business partnerships
  • Reduced marketing expenses
  • Improved sales.

Besides these pros, social media help to know the audience better. Social media is a game changer for businesses engaging in marketing, sales and customer service. This is very powerful and has never been available with traditional marketing. Facebook ,You tube, Google +, LinkedIn , Pinterest are providing ground for performance check  & help  us to track the reputation of any business by CTRs, number of comments, ‘likes’, ‘shares’, ‘re tweets’, ‘favorites’, Google Analytics, Opinion polls, etc.

So, we can say that social media is building relations by integrating, sharing and caring opinions of audience as more and more consumers across the globe want to be heard and want their preferences as well as grievances to be addressed by businesses. Hence, by being active on social media websites, communication between business and customers is enhanced that leads to increased profits and sales. Development of brand is tough, but managing and monitoring are challenging task. By using social media for business, one can get the positive impressions that a brand enjoys as well as negative things that are being felt and said about that brand. This helps to address the grievances of customers and improves brand image.

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