Social media may not be the be all and end all of marketing these days but it is an integral part of the new marketing mix. While many small to medium businesses have been hesitant to start making use of this medium, once they have in fact experienced the benefits of social media in their businesses, it is unlikely that all business owners and CEO’s will really “get it”.
There are no other media that you can make use of in marketing that can give you a global reach with many unique visitors to your site without spending much more on traditional advertising and marketing.
Many businesses are starting to see the benefits of social media though, and here are a few key things that it can do for your business, straight from the real world of business:
The 12 Major Benefits Of Social Media
1. Increased awareness of the brand or organisation
2. Increased traffic to the company’s website
3. Greater positive perceptions of the brand
4. Ability to monitor conversations about the organisation
5. Ability to develop targeted marketing activities
6. Better understanding of customers perceptions of their brand
7. Improved insights about their target markets
8. Identification of positive and negative comments
9. Increase in new business
10. Identification of new product or service opportunities
11. Ability to measure the frequency of the discussion about the brand
12. Early warning of potential product or service issues
SOURCE The Harvard Business Review Analytics Services
This isn’t to say that there are no cons to using social media. As a business owner, it is incredibly important to take note of all the positives as well as the negatives of each marketing medium you make use of. The fact of the matter is that in ordinary word-of mouth marketing, a dissatisfied customer will tell on average about 10 people, however, with social media, he has the ability to tell 10 million people simultaneously.
The real challenge then is not to allow fear of the unknown to hold one back from the real benefits that social media can bring to your business. As with any dissatisfied customer, it is not in the complaint alone that the world sees, but in the company’s response to the complaint and how it is handled. This is why it is always best to address a public complaint publicly in a diplomatic way that will turn your dissatisfied customer as well as all the people who read the complaint and your response into happy and active brand ambassadors for your company.
Like this article? Get more like this delivered in your inbox by subscribing to our mailing list.