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How social media can impact businesses

How social media can impact businesses

With the rapid rise of social media marketing,  My Business discusses the impact of social media on businesses and how it can be used to the advantage of business owners.

Social media use has consistently grown and developed over the years—business owners are now resorting to social media marketing (SMM) to propel the popularity of their businesses.

SMM is considered very convenient and cost-effective: it can be used by almost any kind of business, regardless of nature or scope.

Creating social media profiles and accounts are usually for free. They also can have a lot of features included in the profiles and accounts when businesses sign up—leading to an increased possibility of wider reach.

Learn more about the foundations of social media here.

Below are some effects social media can do on the business world and what areas they affect in particular:

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  • Boost marketing
  • Branding improvement
  • Customer service

Boost marketing

Social media’s ever-changing landscape has constantly challenged business owners when it comes to thinking of new marketing strategies for their businesses.

With the addition of digital marketing to other traditional forms of marketing (such as print media, commercials, etc.), using social media for business has not only diversified the marketing industry but also has paved the way for businesses to instantly connect with consumers.

Compared to traditional advertising methods, social media ads are relatively cheaper and more reliable. While businesses can opt to market using featured posts with “sponsored ads”—paid digital advertising spaces or sections in social media applications and websites— most social media platforms are free. Business owners can choose to move at their own pace by posting free content or resort to using paid sponsored ads once the need arises.

Social media ads are more efficient in terms of performance analysis—business owners can get real-time feedback on the performance of their advertisements and whether improvements need to be made.

In addition, the targeted reach feature of social media ads allows business owners to customise advertisements based on a specific niche instead of going in blindly the way other marketing methods do. Businesses can reach out to customers and create marketing approaches that are personal and targeted to a specific audience.

Branding improvement

Efficiently building and improving brand awareness is quicker when using SMM. Business owners can choose to be as personal and as transparent with their business as they want in their social media profiles and accounts.

Before the advent of social media, a significant barrier between businesses and customers were evident. Businesses and business owners were perceived simply as business entities separate from the brand and the product/services offered. But social media has gotten rid of that barrier and has opened up new channels for interaction between businesses and its consumers.

Business owners could now interact more openly with their customer base instead of merely promoting their products and services, adding a ‘personal touch’ to their overall branding.  This may be done via direct messaging, social media comments, and even social media stories that can help shape the customers’ perception of the business.

Building customer relationships and brand awareness is just a click away, unlike before when it would take years before businesses can establish themselves among consumers.

Customer service

Social media marketing has enabled business owners to be very up close and personal with their customer base—serving as the main customer service channel of the business.

As most social media applications have direct messaging features, instead of calling up customer service hotlines or sending an email, customers can simply direct their queries to the business’ profiles and expect to get a reply instantly.

This is why business owners should promptly reply to all messages directed to their page—building a reputation of efficiency and responsiveness for the businesses.

Another way for business owners to track audience response is by using hashtags that are specific to the branding and/or the audience of the business. Business owners can easily gauge audience feedback by monitoring these hashtags.

Social media made a significant impact in the business and marketing industry.While it allows added convenience and cost-effectiveness, it is also important to be constantly updated with SMM trends. That way, proper social media marketing can be used by businesses to stay on top and be ahead of the business curve.

How social media can impact businesses
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