5 Ways Social Media Changed Business
Do you know that 53% of people on Twitter recommend products in their tweets with 48% of them delivering on their intention to buy the product?
Like it or not, social media platforms like Twitter and Facebook are transforming the way people communicate and in the process, are also changing the way we do business, promote brand identity and handle public and consumer relations. In this post, we’ll talk about the different ways social media has impacted the way we do business over the years.
Five Ways Social Media Changed the Way We Do Business
- Free Real-time Customer Service
Before social media, building a strong customer service department required heavy investment in resources and people. Hence, customer service was mostly reserved for the big brands that could afford it. Today, however, social media affords both small and large businesses the opportunity to offer real-time customer service without having to spend a fortune.
- Highly Targeted Marketing is a Reality
5 Ways Social Media Changed Business
This concept is clearly seen in Facebook advertising where it is possible to develop marketing and advertising materials and put them in front of the exact customers you want. Long gone are the days when businesses had to seek out venues and websites where they believed their target market ‘could be’; with social media you can rest assured that everyone is present. All you have to do is filter out your target market.
- Organic Marketing is the New Trend
Businesses have been using the internet to market themselves for a while now. However, the tides are changing as PPC and banner ads take the back seat leaving organic marketing to run the show. In this case, organic marketing refers to businesses engaging with customers transparently and offering information to help them make better decisions. Notice that unlike PPC and banner ads which somehow feel forced, organic marketing works to humanize the brand further promoting customer-brand relationships.
- Increased Visibility for Businesses
It is no secret; businesses that invest on social media are able to increase their footprint exponentially. A small business in Kenya can now sell to customers in Tanzania without picking up the phone and making a cold call. Social media has effectively torn down geographical borders and allowed customers and businesses to connect from anywhere around the globe.
- Increased Competition
5 Ways Social Media Changed Business
As much as social media has leveled the field for both big and small companies, it has also increased competition in all industries. You are no longer competing with businesses in your region and neighborhood alone, you are up against everyone.
In a decade, integrating social media into your business processes won’t even be a question. It will be so ingrained that we will have a hard time wondering how we ever functioned without it.
If your business is taking its first initial steps into the social media world, take a deep breath and remain calm. You only need to stay engaged, pay attention to your customers, and participate. If you are unsure of where to start, don’t hesitate to reach out to us here.