Are you still thinking if you should use social media for business?
Social media has become a business mainstay almost overnight, offering unparalleled versatility in its applications at no cost – all the most popular platforms are free.
For newer businesses, social media provides an audience for field-testing ideas or concepts, cutting the costs of starting out or piloting a new business model. You can study the market to learn about your potential customers and clients, as well as see who your likely competition is, and what that competition is doing.
As shown by the following infographic, produced by the University of Alabama at Birmingham’s online business school, using social media for business is one of the most powerful tools at your disposal.
It enables unprecedented direct engagement with customers, facilitating everything from customer service to online focus groups and instant feedback on products and services. With this line of communication, you can refine your products and services to ensure you are giving customers exactly what they want, and ensure they stay on the cutting edge of their industries.
Many have successfully leveraged social to market their brand, expand the reach of advertising, and even handle public relations efforts.
Users have turned to social platforms to handle internal communications, team-building efforts, recruitment, and company culture activities. Truly, the only limit to the applications possible on social is your creativity.
Staying off of social media for business can be costly, limiting a company’s access to its own customers. Its ability to stay nimble and anticipate industry changes, or even maximize the reach of its advertising efforts through traditional media.
With younger generations leading the charge to connect through social media, relying exclusively on traditional media can mean risking getting left behind. Check out the infographic below to learn more and see what entrepreneurs of all stripes think about social media.
Marina Barayeva is an international speaker and coach who helps women entrepreneurs become recognized experts and confidently sell their services. She is also a TEDx speaker, has presented to audiences in Asia and North America, and has been featured in such media as ArtPeople, CCTV, China Radio International, and others.