Using Social Media as a Business Strategy
Business owners are using Social Media more and more as a strategic tool to scale up their enterprise. There is no denying that the opportunities are infinite when it comes to Social Media strategies for business growth. Careful planning must go into selecting exciting Social Media Optimization (SMO) strategies to best leverage its immense potential.
- Business owners use social media as a strategic tool.
- Social media as a business strategy encompasses following key benefits.
- Branding – word of mouth or viral advertising is undoubtedly the biggest benefit that you can gain by running a social media campaign.
- Subtle and effective social media strategies prove to be a good alternative to these intrusive mediums.
- Businesses accomplish global presence as a result of activities on popular social media platforms such as Twitter, Facebook, YouTube, Blogger, etc, which are available all of the time
- Social media platforms are a perfect way to counter negative press and instead build a robust online identity to magnetize your prospective customers
- Social Media has taken your business to newer heights
Today, organizations can easily approach a larger consumer base by exploiting the rich features of social media websites for their advantage. Social media, as a business strategy, encompasses the following key benefits:
Inexpensive Medium – In this day and age of stiff competition, there is a serious need to cut down business costs wherever possible. The fact that most of the social media campaigns are run without cost to create online accounts makes social media optimization (SMO) an inexpensive medium of brand building, marketing and selling.
Branding – Word-of-mouth or viral advertising is undoubtedly the biggest benefit that you can gain from running a social media campaign.
Marketing – The “In Your Face” marketing style is no longer used so much. Customers of today want to be in control of their buying decision and will be reluctant participants in interruptive marketing techniques such as Email blasting, text messaging and phone calls. Subtle and effective social media strategies often prove to be a good alternate to these intrusive mediums.
Sales – Social media websites are continuously pushing conservative sales managers to look beyond the realm of “old school” sales techniques and embrace social media as an effective sales mechanism. Successful SMO activities should engage potential customers in a meaningful dialogue by educating them about the benefits of products/services and not directly push for sales.
Global Reach – The popularity of Internet has transcended the geographic barriers and has penetrated the most remote corners of the globe. Your business gains a global presence as a result of activities on popular social media platforms such as Twitter, Facebook, YouTube, Blogger, etc.
Constant Availability – Online social media platforms stay active all of the time. No holidays and time zone worries anymore. The impressions that you leave on your social media websites can allure prospective customers any time of the day.
Online Reputation Management (ORM) – Cheesy marketing strategies by competition can ruin the online reputation of any business. Your competitor can leave negative feedback about your products/services on any online website and discourage potential customers from making that connection with your company. Social media platforms are a perfect way to counter such negative press and instead build a robust online identity to magnetize your prospective customers.
Customer Connect – Engagement is again a very positive quality that can come out of your social media strategies. Customers can be engaged on a wide variety of levels, such as making new product announcements, running promotional campaigns, taking feedback on product enhancements, etc.
Talent Acquisition – A tool like LinkedIn is effectively being used today by Human Resource professionals as a staffing medium. Your business can save a lot of money by investing in this new-age recruitment medium that is extremely cost-effective.
ROI Measurement – Last but not least, tools such as Google Analytics can provide valuable insights into the progress you have made in your social media initiatives. You can measure your Return on Investment (ROI) instantly and make appropriate changes in strategies as and when required.
The fact that most of the social media campaigns are run at no cost to create online accounts makes SMO an inexpensive medium of brand building, marketing and selling. – Sales – Social media websites are continuously pushing conservative sales managers to look beyond the realm of “old school” sales techniques and embrace social media as an effective sales mechanism.
Conclusion
Social media objectives must be clearly defined at the outset. Having ready answers for what you want to achieve from your SMO initiatives will go a long way in formulating the right strategies and achieving the desired results. Try out these endless possibilities that Social Media has to offer and take your business to new heights. Go for it.
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Group: Social Media Marketing
Discussion: Using Social Media as a Business Strategy
yes ofcourse media plays vital role in business enhancing now a days
Posted by sunil andure
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Group: Tweeple
Discussion: Using Social Media as a Business Strategy
Hi Michael the power of social media should now be a critical part of any organisations strategy, however for it to be affective you need to plan, prepare, monitor and be active. Social media is not like a website, build it, forget about it, expect customers to come as a lot of SME did in the past, you need to be proactive to gain benefits.
Posted by Brian Clark
Yes, Social Media is new one line sales and marketing tool, but looks it is more consumer product oriented, ROI for business/enterprise product maybe not so significant.
Weiyong,
Actually we find it easier to use social media with business services than with products.
I totally agree that companies and professionals have such a wonderful tool to connect with their patients and/or client base and community via social media. But finding time to do the job well and frequently may be a challenge. As a writer, I help chiropractors and other natural health professionals educate and keep connected with their patient base on facebook.
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Group: Non-Fiction Writers
Discussion: Using Social Media as a Business Strategy
I tend to agree with you but have reservations when it comes to the necessity of updating all of the various media that go beyond the Twitter realms. I have indeed found, however, that there is an increase in the traffic that I am getting to my website and to various other blogs.
Posted by Hanshi Stephen F Kaufman
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Group: MCCC – Morris County Chamber of Commerce
Discussion: Using Social Media as a Business Strategy
Interesting article. It seems for small to mid-size companies, social media has been absorbed by already overburdened communications staff. Nothing has really been removed from the mix, but social media has been added. I envy those companies who have a full-time social media staff to coordinate campaigns across many platforms.
Posted by Diane Belle
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Group: Business Writers of America
Discussion: Using Social Media as a Business Strategy
There are also increasingly sophisticated ways to create effective social media campaings, and measure ROI- as well as organizing a structure for social media implementation throughout a company. The good news is that job opportunities will continue to expand exponentially in the social media arena for those who are on top of the latest methodologies!
Posted by Molly Seibert
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Group: NJ Social Media
Discussion: Using Social Media as a Business Strategy
Social marketing will eventually get become the epicenter of the marketing mix. In the 4th Q 2010, facebook captured about 25% of all online display advertisng dollars — underscores where people are online…..
Posted by Fred Tietze
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Group: Professional Writers
Discussion: Using Social Media as a Business Strategy
The company I work for has let their social media presence lapse so we are in the process of reviving it and getting our strategy and goals together so that we can re-launch this effort. If there's anyone who has any tips or advice along this front, please pass them along so that I can bring them up for consideration. I work for a small company that has limited bandwidth, but our customers are those who offer hospitality services, such as large hotel chains. I am learning more and more about social media and SOS so anything that anyone has to offer would be great.
Posted by Pam Noreault
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Group: Publishing and editing professionals
Discussion: Using Social Media as a Business Strategy
Good information to share.45%to 60% of the people join's linked in to get business.
Posted by Saahil A
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Group: ForbesWoman
Discussion: Using Social Media as a Business Strategy
Nice article. I agree! One of the biggest misconceptions concerning Social Branding is that it is free. If it is to be done correctly, social networking requires a budget.
Posted by Amie Konwinski
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Group: Professional Writers
Discussion: Using Social Media as a Business Strategy
I am using facebook for the business of promoting my 2 books. If you wish to reach young adults then it is a crucial avenue. Important to establish who your target group are.
Posted by Jon Magee
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Group: Jewish Professionals
Discussion: Using Social Media as a Business Strategy
I use social media all the time…ALL the time! I have an account at hootsuite and it changes my status ever 2 hours so I look like I am on linkedin, facebook, and twitter pretty much 24 hours a day. A lot of business owners don't use social media and I don't understand why that is. I think it's a great way to build a business for all the reasons you outlined and then some! Rebecca Fein
Posted by Rebecca Fein
Social media optimization can also be defined to search engine optimization. However, there are also marked differences between the two.This kind of optimization for the publicity of your products and services can increase faster than any conventional way.No wonder it is an exhausting task in formulating ways for generating traffic to the site.
We played all these social media games that do cost you money because someone is spending lots of hours on this but statistically (and this is what our experience has confirmed) there is nothing like database marketing.
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Group: ForbesWoman
Discussion: Using Social Media as a Business Strategy
We played all these social marketing games. They are expensive in terms of time investment and the results are so-so. Statistically, database marketing is still the most effective method and our experience speaks in its favor. Also, the theory of preference of pull marketing vs. push marketing is worthless when you your product or service constitutes an entirely new concept that your potential clients are not aware of and for this reason are not searching for it.
Posted by Elena Alexseeva
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Group: Non-Fiction Writers
Discussion: Using Social Media as a Business Strategy
I can't convince you. I'm trying to figure out why the hell I do it myself. If you have something that is relevant to your own mishigas then proceed. On the other hand, I find FB to be more in line with what I am trying to accomplish…book writing and seminar promotion. As a matter of question, I wonder if anyone reads twits.
Posted by Hanshi Stephen F Kaufman
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Group: ForbesWoman
Discussion: Using Social Media as a Business Strategy
Effort is never free, and statistically speaking, relationships have never been measurable. So if you only run your business by the numbers that can be printed on financial documents social media effort is a waste of your time.
If you are cash-poor, and you have a long term vision for your customer base, social media efforts are valuable. Progress will be slow, and it won't happen without an investment of time and caring on your part about the person on the other end of the keyboard.
Posted by Carla Bobka
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Group: Non-Fiction Writers
Discussion: Using Social Media as a Business Strategy
Social Media is the ultimate marketing and network machine, period. Both Twitter and of course FB rank in the top ten as far as web traffic in the world. If that fact is not enough to use BOTH platforms to your advantage to create visibility for your business, I dont know what to say.
Posted by AL KING