Overview of Social Media

Why Businesses need Social Media?

This blog is going to take a closer look at Social Media and its use in Businesses. So let’s just start by discussing what Social Media is, It’s a phrase which we often used when we post something on Social Media Platforms like Facebook, Twitter, Instagram, Snapchat, LinkedIn, Youtube, etc. It is an awesome way to interact with the people we know and others who we don’t know. There has been a boom in the number of users who joined these social media sites in recent years.

According to Kemp (2016), there are 2.3 billion active social media users out of total world population. These are some staggering numbers which can make anybody think about how significant and helpful it could be if used rightfully by the budding as well as established businesses.

Let’s go deeper into how Social media has become a valuable tool for doing business in the present world. Gone are those days when social media considered as something which can just be used by kids and youngsters to entertain themselves by posting photos, statuses and chatting their friends. Business never saw social media as a tool to grow and expand their reach to a much wider customer base in the past. By this point, many of you must be wondering that how can Businesses make use of Social Media? So look no further than the below-mentioned points which will explain that how Social Media can have a great impact on businesses growth.

It helps businesses to generate valuable statistics about customers views, likes/dislikes which could be used in a smarter ways for the growth of the business. Social media generate a huge amount of data each day about the people who use it. This data can help you know who and what age-group like your brand, what they like/dislike about it and what they want you to improve in future. So by using Social Media, Businesses can engage as well interact with the customers in real-time to gather all this staggering number data which can then be used by them to make some smarter business decisions.

Businesses can use Social Media to popularise their brand which will increase awareness and loyalty towards the brand among customers. When a business connected with their customers on Social Media, Customers finds it easier to find and interact with it. According to a report by Baer (n.d), 53% of Americans are loyal to the brands who has an online presence. It’s a great way to retain the customers while acquiring a new one.

Businesses can provide a great customer experience by establishing their online identity. In today’s world, customers find it a lot easier to interact with their brands online on Social Media websites like Facebook, Twitter and LinkedIn rather than calling them or visiting them personally. When they find them unreachable, they rather prefer substituting the brand they use with any other. So It’s always good for businesses to interact with customers in real-time to help them with their queries which is much faster and preferable. It forces businesses to push their limits to provide a rich customer experience.

“If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends.” – Jeff Bezos

If you enjoyed this post, I’d be very grateful if you’d comment down below and let me know how do you like it. I’m also open any discussions you want to have about the topic. Thank you!

References:

Baer, J. (n.d.). 53% of Americans Who Follow Brands in Social Are More Loyal To Those Brands. Retrieved from http://www.convinceandconvert.com/social-media-research/53-percent-of-americans-who-follow-brands-in-social-are-more-loyal-to-those-brands/

Kemp, S. (2016). 2016 Digital Yearbook (Report No. 122). Retrieved from                                 https://www.slideshare.net/wearesocialsg/digital-in-2016/4-                       wearesocialsg_4WELCOMEWelcome_to_We_Are.

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