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10 Ways Social Media Benefits Your Business

by: Finella Kristle Panlilio

Friday, October 30, 2015 |

Social media is the collective term for online communications channels committed to community-based input, interaction, collaboration, and content sharing. These consist of websites and applications for forums, social networking, social bookmarking, social curation, and microblogging.

Back in the late 1950s, word-of-mouth marketing advocates began to reflect on the importance of thought leadership and network influencers as a means to shape consumer behavior. Today, the role of influencers in relationship-building and business-customer engagement has been perfected by social media, where conversations between consumers and brands go beyond sales pitches and to open and transparent interactions. Social media has helped build relationships that encourage brand loyalty in the long run.

Social media benefits for businesses

Companies and business owners might find it incredible that a few blog posts, daily status updates, likes, and follows are going to magically grow the business. PC Tech has listed 10 benefits that support this idea:

1. Improved customer service
Using social media to handle customer service is a win-win situation for both the customer and the company because while customers want to easily seek information and clarifications about a company’s product or service, companies want a medium where they can solve customers’ problems as efficiently as possible. Twitter, with its simple and informal nature, is a good example of a platform for managing comments and complaints.

2. Inexpensive effective marketing
Whether you’re a large business or a lone entrepreneur, social media marketing is the most inexpensive yet powerful business tool to build trust and authority. You won’t have to spend as much on traditional marketing which will help your business maximize its profitability.

3. Service and organizational improvement
A company’s audience on social media includes direct and indirect customers, direct and indirect suppliers, partners, established business authorities, and government bodies. Social media presents a big opportunity for you to listen to their feedback and further improve your product or service, and your organization as a whole.

4. Sharing your company message
Through social media, companies are able to easily spread their message to existing and future customers. You no longer have to deal with the age-old struggle of getting your top management monthly, quarterly or annual messages published in newsletters and magazines. Social media enables you to send your message to the right people who are constantly connected to the company, thus creating online ambassadors of people sharing the same message about your business.

5. B2B and BPO are easier.
Social media extends your reach from customers to businesses, especially on social networking services mainly used for professional networking, like LinkedIn. It facilitates the possibility of business process outsourcing (BPO) where one company is able to partner with another domestic or foreign company to do work on behalf of the other.

6. Branding
Your brand is what people think of when they hear your company name. Raise your customer's perception of your brand by having a strong social media presence that highlights your company’s unique qualities.

7. Promotions and brand campaigns
Social media promotions and campaigns provide a new outlet for generating buzz about your brand, sales, deals, and potential business partners as they pull in new users and returning customers alike. Make them exclusively available through social media to drive traffic to your company website. Promotions and campaigns made via social media reach a wider audience due to the shares made by both your customers and fans.

8. Reach unique audiences.
Don’t try to use social media as an opportunity to reach everyone. Instead, use it to reach the right audience - there’s a difference. You can target specific groups with platforms like LinkedIn, Facebook, and Twitter.

9. Discounts and freebies
To further maximize sales, use social media to offer discounts and freebies. In addition to publishing relevant content, this is a good strategy to gain loyal followers.

10. Brand leadership
Companies with a strong social media presence have the opportunity to subjectively shape industry and consumer behavior. This allows the company to establish itself as a brand leader from whom other companies learn. This industry status is attained by organizations that operate transparently and do not avoid social media.

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