Today the internet has transformed the way in which people communicate with each other. In the digital age, a piece of information can be communicated to millions of people in a span of just one or two minutes. Likewise, information can readily travel across national borders, and people can communicate with someone who is sitting on the other side of the planet.
Since the means of communicating information have changed, businesses have also evolved so that they can remain relevant in the digital age. Today all businesses, big or small, have a presence on social networking channels. Companies spend large sums of money on building a solid social networking strategy. Hence if any company or individual wants to build a strong presence in social networking channels, they can go to instant-famous.com.
The Huge Impact Of Social Networking Channels
They Help Build A Huge Customer Base
The end goal of any business is to get customers for its services or goods. Social networking channels allow businesses to reach millions of people, and that too at a relatively lower cost. Social networking sites have millions of users, and hence most businesses sell or promote their products through these sites. Small businesses that cannot pay for huge billboards or pay big celebrities use social networking sites to reach many people at very little cost.
However, even big brands use these channels; the only difference is that the bigger the company, the more sophisticated its marketing strategy. Most business organizations use intermediaries known as influencers to promote their products. Influencers are individuals who have a large following on social networking sites. Since these people already have a large reach, brands collaborate with them to promote their products.
Helps Gauge Customer Preference
Social networking sites help gauge the preference of customers. Most companies conduct surveys and opinion polls on their channels. The response of the customers is vital data from the business’s point of view. Companies collect the data and analyze the data to obtain valuable information that can improve the marketing strategy, improve product design, etc.
The data collected can be used to understand regional preferences as well. For instance, if most people in California prefer a particular design of a shoe, a shoe-making company can supply more such shoes to California and its surrounding areas. This will ensure that the demands are adequately tapped.
Helps Create Awareness About A Particular Brand
Most companies have active social media channels. They regularly post pictures, news, and stories about their brand on those channels. This ensures that they are constantly in touch with their potential customers. Most companies try to post something on a regular basis. Regular engagement ensures that the algorithms display a particular brand’s posts and stories more frequently to all the users of the networking site.
Helps Engage With Potential Customers
Most brands engage with potential customers through their social media channels. There can be several ways of engaging with customers, like surveys, creating stories, etc. For instance, many jewelry brands ask new buyers to create a story about their new piece of jewelry.
When any new customer makes a story and tags the brand, it serves many purposes. Firstly, it shows that the customer values the brand. Secondly, the brand name and its products reach a significant number of people. And finally, the consumers feel more connected to the brand.
It Gives Easy Access For The Customers
With the advent of social networking sites, all companies have become more accessible to the common public. Hence, if a person has any grievance, they just need to write a message on that company’s page. Most businesses have people who handle their social media pages so the customers get a prompt response.
Also, writing a simple comment on a networking site is much easier than writing a formal email or writing a letter on paper. Hence, people get a quick response, and that too in the most hassle-free manner. When the customer gets a quick response, their satisfaction levels increase, and they are more likely to make a second purchase from the same company.
Important Channel To Get Feedback From The Public
People can easily give feedback about the kind of service or product that they receive. If a particular product does not have good utility, the company can get immediate feedback. Likewise, if the after-sale services are bad, the end-user can immediately give feedback. Feedback is very important for improving products and after-sales services; hence these social media channels allow companies to get valuable feedback from end-users.
It Can Be A Source Of Negative Publicity
Social networking sites have many benefits for businesses, yet they can also be a source of trouble. These channels have great reach; hence if many customers have complaints, there can be negative publicity as well.
If the complaints have not been resolved correctly or if the products are sub-standard, then there can be a huge negative fallout. Hence these sites, in a way, ensure that all business organizations remain cautious in their regular dealings.
At times some brands have landed in trouble because of the type of content they shared on their channels and pages. If the content is racially insensitive or disregards the environment, that can lead to huge negative publicity. Since the information reaches millions of people very quickly, it is almost impossible to prevent the damage.
Hence, social networking sites are a double edged sword. They have a huge positive impact, but if not used correctly, there can be a negative impact as well.
Most businesses have realized the importance of social media channels in improving their business opportunities. Hence, most organizations pour in millions of dollars to hire talented social media managers who can improve the sales and visibility of the brand. Social media is expected to become more prominent in the next five to ten years. As more people join these channels, companies will have to focus more resources and energy on improving their social media profiles.