The world as we know it is run by
economic activities and a large percentage of such activities revolves around
trading. Trading simply means the exchange of goods and services. So someone can
trade physical items like phones and cars and get financial gains from it.
Another person can also trade his or her skills/talents and get financial gains
from that.
This then means that a lot of
business interactions took place with the trader dealing directly with the consumer
most of the time from the onset. Meaning that sales could only have occurred when
prospective consumers visit their stores to check out the products or services they
offer.
This however posed a challenge as
businesses were limited to face-to-face interactions and a business was only
visible to those who are able to visit it thereby limiting their reach and
customer base to people around a particular area.
Interestingly, since the turn of the
century and the discovery of the internet, the global business world has taken
on a new dimension. The world is now being regarded as a global village as
interactions between people from vastly different locations are now possible.
This brings us to one amazing product
of the internet..."social media".
Social media is a web-based
communication tool that enables people to interact with each other by both
sharing and consuming information. It entails websites and applications that
enable users create and share content or to participate in social networking.
Social media has introduced
substantial and pervasive changes to communication between businesses,
organizations, communities and individuals and has changed the way individuals
and large organizations communicate. It means a business operating in Lagos can
now be visible to prospective consumers from all over the world.
This has helped to solve the challenge
of visibility and location limitations that businesses encountered in the past.
How does social media profit a business?
It is very important that businesses
operating in this 21st century and information age realize that they need to be
proactive to remain relevant and attract new customers.
Long gone are the days when your
secretary was the first point of contact between the outside world and your
company – that role is being replaced by websites and social media profiles.
According to data from Global Web
Index:
37% of internet users
follow their favorite brands on social media.
30% of internet users use
social networks to research products.
With people turning to their mobile
devices and social media in the buying journey there are many reasons why your
business should be active on social media.
Here are 5 key benefits of social
media for business:
1. Increased
Exposure/Brand Awareness:
Social media will expose your
company or service to new eyes. With one click your message is shown to
multitude of people. A good example is the exposure and awareness a fashion
designer-Ugo Monye received from the agbada that Ebuka wore to Banky W and
Adesuwa's traditional wedding in Lagos,Nigeria.
2. Learn
About Your Audience/Target Consumer:
Social media gives you insights into
what your audience is into.
3. Customer
Service:
Sometimes a customer won’t reach out
to you if they have a problem, but will go ahead and post a complaint online.
Many consumers now using social media as a point of contact with a brand, and
expect a response The Social Habit reports that 42% customers who reach out to
brands online expect a response within the hour.
4. New
Opportunities:
Social media can offer opportunities
you may miss out on by not having a social presence. Negative comments and
experiences can be addressed and adjusted – keeping customers happy and showing
potential customers that you care (giving you a little more to love over the
competition)
5. Sales:
If your social media campaign is
done correctly it could help you increase sales. Having a social media presence can also allow
customers “get to know” your brand, giving you more chances to gain their
business.
How then can a business use social media profitably?
Social media savvy entrepreneurs
know that it’s all about engaging the right audiences with valuable content.
With this in mind, here are 4 ways a
business can engage customers and benefit from the use of social media:
1. Follow
the one-in-seven rule:
This rule is where only one of every
seven posts overtly promotes your business. The remaining six should be focused
on sharing valuable content, including posts from the community. This helps to
build a more beneficial relationship with your audience.
2. Ask
conversation-starter questions:
Most people enjoy sharing their
opinions, so ask Facebook fans to weigh in on topics that are relevant to your
business and interesting to them.
3. Share
your expertise:
Post little-known, fun facts in the
form of questions with a special offer presented to the first person to answer
correctly.
4. Provide
value:
While including fun posts that
reflect your personality is a must, it’s important to create content that
benefits your followers.
What social media platforms should a business operate on?
A proactive business should operate
on some of these key platforms to maximize profit from social media: Google+ (Gmail),
Facebook, LinkedIn, Twitter, WhatsApp, Instagram, YouTube, Pinterest and of
course a website or a blog.
These social media platforms can be
managed with Hootsuite, Buffer or Sensible platforms for easier scheduling.
In conclusion, it can be said that social
media is the future of business as it plays a very major role in influencing
and controlling economic activities all over the world.
Any business not utilizing social
media right now might become irrelevant and/or lose business at the long run.
Therefore, a smart business should
utilize social media for maximum sales, increase in customer base and global visibility.
About the Author
Mary Ugonma Arhuere
is a thought Leader, Natural Hair and
Lifestyle Consultant, a Change Catalyst and a Youth & Women Development
Influencer. She is also an HSE professional.
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