There is no doubt that social media is making a discernible impact on not only the lives of individuals, but also businesses. In the case of businesses, it’s not just small businesses that are reaping the benefits of having a presence on social media sites such as Twitter or Facebook. It might comeacross as a surprise, that even enterprise level businesses can use the social media to enhance their branding efforts. While such businesses have deep pockets and make huge investments in advertising their products and services, a social media profile gives them the necessary edge that traditional methods of advertising and promotions might not offer.
So let’s take a look at three reasons why such businesses, irrespective of their size or scope, need to use social media
The bigger the business, the harder they fall. The reputation of any business provides fodder to its profitability. If the reputation of a business goes for a toss, the declining sales figures of the business are a testimonial to the damage done. But, a presence on social media allows you to minimize the impact of any damage to your online reputation. As an enterprise business, your social media business profile will give you a first-hand look into what your customers are saying about you and your products and services. If there is some negativity surrounding your customer service or the quality of your products, you can take steps to address the issue by rectifying the problem. Let’s just say that your fans and followers on Facebook and/or Twitter can be your bitterest critics and also your best friends. This is why you need to keep them close and this is only possible with a presence on such profiles.
Businesses whether big or small, need to connect with their customers. While small business can leverage the benefit of their small size to keep themselves nimble footed and connect with their customers, bigger businesses don’t have such luxury. For them a one-on-one with their customers is extremely difficult owing to their size and the fact that their customers and potential customer base is immense. But, here again, it is a social media presence that can come to the rescue of enterprise level businesses. With your Facebook business profile you don’t have to try too hard to initiate a conversation with your followers or fans. Everybody on your network will be more than willing to listen to what you have to say and strike up a conversation with you.
Wider targeted Reach
Social media platforms offer a more focused approach at building a wider customer base. Businesses can connect with people who belong to their target customer base. They can build a network by choosing followers that subscribe to certain demographic parameters. What this means is that businesses can ensure that their network of fans and followers is composed of people who will show better inclination towards buying their products and services. The chances of converting them from just people on their social network to their customers, increase manifold. This is the kind of advantage that not many businesses will forgo.
The potential of social media to enhance the revenue generation capabilities of a business is endless. It all depends on how you as a business are able to use it to derive the maximum benefit.