Business Benefits of Social Media
What Benefits Does Social Media Provide For Businesses?
By : Roosevelt Cooper | FourSquare
Many businesses struggle with defining the actual benefits that social media can provide for them. Many social media management companies struggle with explaining these benefits to businesses. I have been using social media as a part of my businesses for over three years now. I’ve also analyzed the successful use of social media for businesses for approximately the same amount of time.
The benefits that social media provides for businesses:
- Marketing Benefits – Social media allows a business to track and increase word of mouth. With the correct monitoring tools and tracking processes you can see how your customers that are online are referring and recommending your business to other people online. It can be use to reward customers that continue to do business with you. Social media can also be used as a lead generation tool to help you acquire new customers.
- Research Benefits – Social media is one of the most powerful research tools available to business owners. First off, it is a great way to survey your customers and prospective customers on ideas and assumptions you have about your business model to see if they are true before you invest significant money into marketing. It allows you to keep track of what your competitors are doing so that you can make adjustments as necessary.
- Support Benefits – Social media is also a great tool to use for customer service. Businesses can handle inquires via their social media portals as oppose to more costly support options such as the telephone. As a former trainer and manager in the call center industry I would have loved to be able to have this type of tool for my teams to support their customers. It even allows you to be more proactive about your support by looking for trouble spots and taking proactive measures to rectify them. Imagine complaining about your cell phone on Twitter and then your cell phone company reaches out to you to help. That is all possible with social media.
So when business owners say that they aren’t interested in social media, that tells me one of two things...
They either:
a) Don’t understand its benefits
or
b) They aren’t interested in improving their marketing, leveraging one of the most powerful business research tools available and leveraging one of the most powerful customer support tools available.
It’s only a matter of time before businesses that fail to utilize social media find themselves out of business. I just hope that if you are reading this and you are a business owner, you allow your business to become a benefactor of social media and not a victim.
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