Social Media has outdone itself by just being a passing trend, and has now become part of our everyday lives. May it be for just a simple browsing of pictures, watching videos, and chatting online; social media has got to be one of the best ways to connect to people for the past years. And as the years passed, it has been progressively changing the way people do business.
In this article, we will help you understand how social media is reshaping our business and what we can do to move with this trend.
1. Reshaping Scope of Influence
One of the good things that social media has given us is the opportunity to connect to people even if we are not physically talking to them. And it is through this component of social media that business marketers can extend their scope of influence. Before, it was mostly the traditional way of advertising (TV commercials, print ads, etc.) that the business marketers rely on.
Now, they can rely on the fact that their potential customers have social media accounts, and their business ads have a higher chance to reach more people’s knowledge. It is not anymore limited by costly advertisements, as long as you have internet and a social media account, your business can reach any customer anytime and anywhere.
2. Reshaping Customer Relations
People would mostly describe a good-running business by the customer service it provides, thus having good customer relations. Back then, for a successful transaction to be made by the business owner to the customer, it would require face-to-face interaction.
But with the birth of social media, any business is now provided with the opportunity to be responsive to every customer’s inquiries, even if there is no physical transaction present. As long as the business has a good operating social media profile, it will be made easy to respond and transact real-time and provide good service.
3. Reshaping Business Advertisement
Business advertisements were quite tedious (to say the least) before social media marketing and advertising existed. Different businesses had to check different websites, go to different venues, and take chances on costly advertisements to land possible customers. Imagine having to go through all those things as a business owner — it would be too time-consuming and energy-draining.
Advertisement is made easy in this social media age, since sites like Facebook allow a variety of ways to creatively introduce a new concept for every online users to see. Just a simple like and share from online users would go a long way when you are trying to advertise your business. Besides that, the ads that users see on their social media accounts are not coincidental, they are basically connected to the surfing history of the user which are collected data. As soon as the social media has gathered much information, they will now let advertisers use it, making it possible for every business to be introduced to the public eye.
4. Reshaping the Business’ Monitoring Accessibility
In this social media age, monitoring online feedbacks from customers is not a problem anymore. Now, business owners have closer access to what the customers think about the services being provided by the business. An example would be people mentioning a specific brand in their Twitter and Instagram account, giving either satisfaction or dissatisfaction comments about the product sold to them. In those kinds of situations, you will be able to quickly respond to such comments and know where the business can improve on and what the business is good at. Social media is basically giving the business owner a wider access of feedbacks that will help the business grow.
5. Reshaping our Understanding of Customer Needs
Since social media has been one of the best platforms for people to voice out their opinions, it is also a great platform for every business to hear out what their possible customers expect and need. Through understanding what the customers need, the business has a high chance of meeting such needs and expectations. Thus, giving your business a higher edge over other competitors who do not give much attention in understanding what their customers need.
6. Reshaping Business Model
The use of social media in doing business is not only limited in posting photos and videos to advertise your product, but it also offers an opportunity to directly sell your product to the customer. It can also be an extended part where you get target clients and have actual sales. This is why it helps to get more people to follow your business because it gains chances to convert them to qualified sales.
What We Can Do to Move with This Trend:
- Be mindful of upcoming trends
- Ask what the customers want
- Marketing strategy should suit social media audience and users
- Be adaptive of the changes being brought about by this trend.
- Always be updated of how you can boost online visibility of the business.
The way social media is impacting our business and the way we do business has been positive so far. It has brought about a lot of changes and a closer access between business marketers and customers. With all the positive contributions that social media has given to reshape our business, it will definitely not just be a passing trend in the business world.