I’ve always maintained that Social Media has a bright future in the business world. The recently released findings from Garner second the fact that social media is vital to online business strategies. In fact, it is currently the most preferred medium for businesses to understand customers and their context. Gartner emphasizes that the USP of social media is the ability to effective engage with the customer. Especially, small businesses in the vanguard of social media are raising their profile and attracting large number of new customers. In fact, tech-savvy small businesses are more attracted to social media rather than eCommerce these days.
Hesitancy regarding Social Media
The Gartner study reveals an interesting point that businesses are slowly but gradually overcoming the mental block and hesitancy that was once hindering the wide-scale adoption of social media in the enterprise.
Social Media is now helping businesses define as well as deliver key business objectives. In today’s age where social media sites such as Facebook and Twitter have managed to beat Google in popularity, social presence is a crucial component of any business’ online strategy.
Social Media lets businesses be more adaptable
Social Media not only helps a business reach out to newer audiences, it also helps the organization develop an agile framework that allows it to be more adaptable to changing customer requirements or market trends. They have a new and innovative means to instantly market their products as well as a readymade two-way dialogue channel with their customers. It’s often said that social media is a two-way street where both parties (businesses and customers) shed their inhibitions and meaningfully interact with each other.
Small Business – eCommerce or Social Media or both?
A report from Boston Consulting Group indicates that social media has overtaken eCommerce when it comes to having an online presence for businesses. It is no mean achievement that social media has managed to match the popularity of eCommerce when it comes to having an online presence for a business. While the latter has been around for nearly a decade, social media is a relatively recent phenomenon at least in the business space. In general, there’s a lot more social media awareness in the business segment as compared to the somewhat mellow picture one year back.
Further, businesses which sell services or complex products to businesses or bespoke services to consumers are unlikely to see much value in e-commerce. Comparing Social Media with ecommerce is like comparing apples and oranges. While the eventual aim of both is to help boost business revenues, the means are strikingly different from each other. Is social media a part of your business’ online strategy? If so, how are you leveraging social media to boost revenues or to reach out to customers? Please share your business’ social media success story by leaving a comment below this post.
At Grasshopper Group, social media is a big part of our online business strategy. Social media acts as place for us to interact with our customers on a more personal level. We use social media to talk to our current customers, interact with people who are in the market for products we offer, answer questions as well as find out more about who they are. Social media also enables us to connect our current customers with people who are looking for more information about our products.
From the look of things, you guys are embracing the core social media USP – Engagement. “Engagement” or “engaging” is gradually becoming a cliche in the socialsphere because many people know it to be an essential part of the space, what they are not asking is how to do it right.
Many businesses still define social media engagement from the traditional sense instead of from a business perspective. Business engagement in the socialsphere should be best approached differently than an individual would, and it seems you guys are doing it right.
Welcome back to the Smedio community ACanty.
As a Social Media SaaS company ourselves (Social Strata, Inc.), it’s interesting how we too still have to utilize available tools just like any other company. We have platforms built for companies (forums/blog/chat/groups–you name it) and we’ve been in business for well over a decade; however, I get a kick realizing there is still so much to learn.
Thanks Sandy for sharing your experience with us. The ‘Socialsphere’ is a rapidly evolving space that requires enterprise to not just keep up but to be part of the evolution itself.
Running a supply business for internet businesses and marketers, our marketing approach is 100% social media! With a global clientele, there is no other way to reach and communicate with our customers effectively.
A.
Sure is! It’s a great tool for increasing brand recognition as well as establishing yourself as an industry expert BEFORE you do business with someone.
Social media marketing is a good technique of promoting your business. It targets interested people and hence more chances of sales.
Businesses are unwelcome on my social media circuit. I do not ‘follow’ or ‘like’ any of them. Social media is for socialising and they can take their begging bowls elsewhere.
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