Can Social Media Really Be Used For Business?

Social Media is everywhere these days and many business owners are curious and tempted to use this new form of marketing but are unsure just how and if it can benefit their business. Many see social media as a fad, something only kids use or irrelevant in a business manner. All of these would be myths. Social media is here to stay and is changing the way businesses market. Gone are the days of beating consumers over the head with blatant marketing messages and trying to push them into buying products or services. Today’s savvy business owners know that building relationships and creating trust amongst potential customers is key to their survival. How then, can this growing trend be used to help your business?

5 Ways To Leverage Social Media For Business

1.Business Development & Revenue Generation
Offering special sales or information to your followers can help develop your business and your following. The more followers the more opportunities to share your service or product. Post a special offer to followers on Twitter or Facebook and watch sales grow. The opportunities to leverage Twitter and other Social Media sites to drive revenue are endless. Engagement is key. Find ways to interact with your fans and followers.
The cost to do this, FREE.

2.Brand Communication & Awareness
Leveraging social media platforms, both large and small companies can drive brand awareness and manage communication regarding their brand.
Leverage various Social Media platforms to drive your brand awareness. Triangulate your efforts to drive traffic back to you website or blog.
Remember, 67% of Americans use Social Media networks in an average month.

3.Relationship Marketing
Consumers can now have a voice with the companies they are interested in doing business with. Likewise the companies themselves can develop a relationship with their prospects and become a more trusted entity. People always buy from those they "Know, Like & Trust". Social Media is for relationship building. Websites are for sales.

Develop a relationship mentality and avoid the hard sell.

4.Market & Competitive Research
Social Media provides immediate access from a follower base (and virally, their followers as well) to gage customer insight and perspective.
Social Media sites can be used to mine for data, research or solicit user-generated-ideas and monitor your competition. They can also be used to gather information through polls and survey’s allowing you to better meet your customers needs or desires.

5.Customer Service & Customer Insight
Social media allows you to actively monitor for mentions, complaints and suggestions and to react swiftly, leaving customers feeling valued and empowered. Not only are you able to monitor positive comments regarding your brand or service but the ability to do damage control for any negativity is ever present allowing you to protect you company’s name.

Enabled customers become powerful evangelists for your product or service.
A recent survey showed that 14% of people trusted advertising but 76% trusted consumer recommendations for their purchase decisions.

Now that you have a better idea of what social media can do for you and your business I encourage you to research the options that would best fit your company needs before jumping in. Decide what your objective for using social media is. What you hope to get out of it and who your target audience is. Hiring a consultant or marketing coach can also be helpful in making the best decision on how to use this powerful marketing technique.