Businesses were slow in recognizing the value social media to their operations. In some cases companies had social networking sites like Facebook blocked by their firewall. Back then it was thought social media was a waste of time. Perceptions have changed since. Social media has been embraced by businesses, both small and big in a huge way. The last three years have seen aggressive moves by businesses to cement solid positions on the social media scene.
Social media has changed the way business is done. It in itself is huge business too. The trend is set on an upward trajectory according to analysts. Impact of social media on business includes the following.
- Advertising
There are over a billion people using social media today. This is a huge potential market for any business. Social media sites like Facebook allow businesses to take out ads on it. The advantage of advertising on social media is that the advert can be directed to a particular demographic class in the market. These ads are therefore much more effective than regular media adverts.
- Recruiting
Many employers nowadays will do a quick search on social sites like twitter before accepting an employee. Social media also allows businesses to find the best employees quick. This is because they are allowed access to a global pool of potential employees. Sites like LinkedIn have professional profiles of thousands of people. Recruiting has never been as well taken care of.
- Profitability
By reducing communication costs, businesses are able to save money on overheads. This eventually leads to saving money. Interviews and negotiations with overseas partners can be held on a social network fast. In the past, letters and costly phone calls were the way to go. Where meetings involved the need for face to face conversations air travel abroad had to be the way. This has all been reduced by social media.
- Building Teams
Social media allows birds of a feather to hang out together. Sites like LinkedIn allow professionals in different categories to associate and exchange ideas. With the social media platform, a team is not limited by geography or company. Businesses are able to form top class teams for solving problems.
- Internal Efficiency
The social media platform has been taken further by companies such as Yammer. Business organizations can now commission their own internal social network. This allows for better flow of information. Individuals in the franchise business for example can form a network through which new developments are built, tested and deployed within a little time. Communication is faster. Brainstorming is deeper and solutions are better.
Social media is the future for any business. This is so because buyers are creatures of emotion. They want to feel important and appreciated. Social media has created a platform for interaction between buyers and businesses. This has allowed for business owners to consult with their customers. Studies have proved that social media is driving profitability. A particular research shows that a huge chunk of a business’ Twitter following buys from that business. This is the power of social media.
Author’s Bio
Kady Babs is a Certified Professional and freelance writer. At present attached with Test4Prep. This is Best Source for 350-018. You can try free demos of all certifications with 100% Risk Free and Guaranteed success. Babs has creative writing skills and helping people to get certified on first try.