Social media forms a very important aspect of business in today’s world, as it has multiple impacts on business in terms of brand recognition, consumer engagement, revenue and customer service. It is one of the most vital elements of business marketing strategy. Social platforms help a business to connect with its customers, increase awareness about the business’s brand and boost leads as well as sales. With more than a staggering 3billion people around the world using social media every month, it’s not a thing to ignore. In a large consumer-driven society, social media provides the platform to know future consumers better and also recieve feedback from the target audience. With the invention of smart phones, people have almost 24/7 access to social media.
HOW SOCIAL MEDIA HAS CHANGED BUSINESS :
The rise of social media is among the greatest changes to the business world, in the 21st century. It has, in fact, completely changed consumer behaviour – a phenomenon that is still growing and changing as broader age groups are starting to utilise this tool. Numbers don’t lie and social media statistics show that social media continues to change the way we do business. Statistics show that a large percentage of time spent online is spent on Facebook, Twitter, Instagram, Pinterest, etc. 2/3 of internet users regularly use social networks online and within networks, consumers share or obtain information on products and services. The biggest benefit of using social media is that it humanizes the brand of your business and shows people what you do is more than a company logo. Using various platforms to initiate real human connection is the most important benefit, which your business can gain from the use of social media. Having correct strategies in this regard can help you to grow your business as well as your online reputation. Basically, social media provides you a platform to showcase how your product or services have already improved the lives of your current customers while also encouraging others to improve their lives in the same way.
STEPS TO ENSURE OPTIMUM UTILISATION OF SOCIAL MEDIA FOR BUSINESS :
• Set social media marketing goals in keeping with your business objectives : The basic step is to establish your objectives and goals, because without goals, you have no way to measure success. Each of your goals should be specific, measurable, attainable, relevant and time-bound.
• Know your audience well : Learn everything you can, about your audience and know who your ideal customers are. Then you can easily understand what they want to see and thus create the content accordingly. In this way you can convert your social media followers into customers for your business.
• Research the competition : A competitive analysis allows you to understand who the competition is and what they are doing. The analysis will also help you spot opportunities.
• Set up accounts and improve existing profiles: Once you have decided which network to focus on, it’s time to create your profiles or improve the already existing ones, so as to align your social marketing goals with your strategic plan.
• Test, evaluate and adjust your strategies : In the social media sphere, things change fast. New networks emerge, while others undergo significant demographic shifts. Constant testing and evaluation allows you to understand what works and what does not, and accordingly, you can adjust your strategy.