Many business owners are concerned that are missing the social media boat but remain unconvinced the benefits. They often get side tracked by personal opinions about Facebook (“My daughter wastes her life on that thing!”) or Twitter (“Who cares what so-and-so had for breakfast?!”).
Let’s not talk about Twitter, Facebook, LinkedIn, YouTube, etc and just concentrate on what business owners usually mean when they ask the question.
Social media is a way that people communicate, share and engage with each other through new media technology applications. It is immediate, interactive, responsive and highly powerful. It allows businesses to strike up conversations with existing and potential customers.
Social media is not ‘broadcast’ media (like print advertising, direct mail, radio, outdoor, etc) which are all one way communication. Social media allows the two-way dialogues that you would like to have with your customers.
But be warned, social media is not right for every business. If your customers are not, and are never likely to be, engaging with social media themselves, then it’s probably not a priority for you today. That said, your customers of tomorrow could well be using it, so ignore it at your peril.
So, how can social media help your business?
This is not an exhaustive list by any means, and in no particular order, but it’s a good place to start…
1. If your business relies on lasting customer relationships and repeat business, social media is the best thing available for building and maintaining strong and relevant relationships with people/customers. Bar none.
2. Your customers are almost certain to be using it already. You should try to connect with them in a way that’s convenient and easy for them to connect back. Social media allows you to make one-to-one contact with your clients. Simple as that.
3. In terms of ongoing investment, getting started on social media is very low cost compared to more traditional forms of marketing and promotion. Most of the basic applications are free to use and even buying a few bits of software (apps) to make things work better is fairly inexpensive. Consequently, your ROI should be quicker and greater.
4. Social media can tell you what is right and what is wrong about everything from your company and products to your competitors or industry as a whole. Using social media to listen and monitor what the public are saying about things relevant to you can provide highly valuable market knowledge.
5. Social media is a great way to instantly share anything you want to with your existing or potential customers. News, info, offers, coupons, pictures, the lot.
6. By engaging with your customers via social media, it’s likely that they will enthuse among their social media contacts and so your reputation will grow. It’s digital word-of-mouth.
7. Social media can be an effective way to manage your own PR and reputation. It allows you to deliver your success stories more effectively and even react to crises before they escalate.
8. Many people expect a business to have a social media presence these days. Failure to be involved can make your enterprise look behind the times, old fashioned and out of date.
9. Social media can enhance your brand awareness. If your branding is consistent across different media, you will create something more recognisable and dynamic. Plus, by using social media, your brand can become more rounded and develop a personality.
10. Social media can help your business with new areas of collaboration as other related businesses in your sector connect and work with you.
11. Social media can help your business website grow traffic. Major search engines now include social media updates and posts in their results. If your business is involved; you will have more chance of being found on the web.
12. Finally – social media is NOT just for young people with no money and too much time. Recent stats show that the average age of a Facebook user is 38 and that the average age on Twitter is 39.
When it comes to developing and implementing social media for your business, the biggest cost can be time. But if your social media strategy is reaping dividends, then it’s time well spent.
And if you really don’t have time, then ask a social media management company (like us) to do things for you.
