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Social media and Its Value for Your Business

We have mentioned on our first post last week on this new blog series that Social Media marketing enables you to build relationships and engage with your community.

By building relationships with your clients beyond your normal business transactions, you will be able to build trust. This will keep them coming back for more business and drives them to promote your brand through word-of-mouth. Similarly, through responsive or interactive engagement through Social media, you will be able to get the pulse of your community or your target market. This will give you a good look of the different opportunities to capitalise on and the risks to avoid for your business.

Though we only highlighted the two basic benefits of Social media above, there is more to it than just marketing or advertising your brand. Social media is truly valuable for your business as you can also use it for the following:

 

Product/Service Development

With social media easily available, businesses now have more access to customers than ever before. This means developing a service or a product that fits the needs of the end-users from scratch can be less complicated compared to how it’s done a few decades ago. Gathering customer inputs is now faster and can be done in real time.

You can create a beta tester community for your products in the form of social media groups. This way, you can have your pre-released products tested or tried out with efficiency and lesser cost. You can then apply data analytics so you can measure what products people are most interested of and what are not.

In addition, you can also listen to your competitors through social media. You can look into what they are up to, what new products are they creating, and what innovative features are they including in their products/services. This way, you can easily adjust your own products or services to gain the upper hand.

 

Customer Service

Customers, as their normal response, will complain if something goes wrong with the products or services that they have purchased. In the past, they will normally vent out their frustrations to their families or friends. But nowadays, they go to Facebook, Twitter or Instagram to express their feeling of disappointment.

At first, it can be scary if customers use their social media accounts as means of complaining about your business. You’ll feel like you are being attacked and you’ll think that it will end up putting a lasting negative impression to your company.

But actually, it’s the other way around. You can jump into the conversation and sort out the situation. You’ll also benefit from the positive relationships that you have built with other customers or business partners – who will act as your defenders regarding the complains. If you are able to handle it properly, you can take back a now-satisfied-customer, while proving to the listeners or onlookers on social media how great the customer service you offer.

 

Content Creation

It is difficult, if not impossible, to promote your business online without using content. You need to make sure that the content that you are sharing through digital channels (including social media channels) can catch the attention of your target audience. However, creating this kind of content is easier said than done.

However, with frequent user engagement and through some social listening efforts, you will be able to determine what people are looking for, what interests them, and what are relevant and useful for them. By knowing these facts, you will be able to serve the type of content that fits the bill.

 

Human Resource Management

If you are running a business with a handful of employees or you are looking for new ones to hire, then Social Media can help you.

First, you can use social channels for your recruitment. Nowadays, people are searching jobs online, so you can advertise your vacancies on your social accounts. Chances are that qualified candidates already “follow” or “like” you, considering that you have the same interest or business industry. Social media accounts are also a good place to do a background check to know more about your candidates.

Second, you can use social media for strengthening your workforce. You can easily provide and receive feedbacks and insights to and from your people. You can also cultivate internal relationship and increase collaboration between your employees. In fact, there are some social media platforms that are build to be used in an organisational setting.

And lastly, you can use social media for career development. It can be used to create professional networks online that can benefit your employees. It can also help you and your people learn about the trending “ins and outs” in your specific industry – which will enable you to pinpoint opportunities of skills development for your workforce.

 

Next stop on this blog series will be about framing a social media marketing strategy that works for you. So, stay tuned by subscribing to our newsletter. 

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