Social Media and the effect on businesses

In Business by Scott LumleyLeave a Comment

Social media use for businesses.

 

Social media has changed business’s marketing completely. Since its inception, traditional marketing has been flipped on its head and replaced in many ways by more advanced strategy. It has been a blessing but also a killer. If it is not used appropriately it can break a business.  However, if it is used in the right manner, the opposite can happen with the proper management. It has been misused by many of businesses and mostly by the general population. People use social platforms like facebook and use it to be an outlet for personal issues and fail to utilize the power for business use.

 

It’s hard to imagine a life before social media, even though sites like Facebook and Twitter have been around for less than a decade. As businesses look back over that decade, they can easily see how these sites are changing the way they do everything. Professionals use these sites to network, interact with customers, and bring team members together.

Yet social media has the ability to divide industries, with outdated companies falling behind their competitors. Social media can be a distraction, zapping worker productivity throughout the day, but it can also be a way to open up opportunities that would never have existed. It will become clearer that social media is an essential part of doing business today.

CEOs Must Evolve

Despite the fact that a 2013 study showed more than 80 percent of those surveyed feel it is vital for CEOs to interact on social media, there are still numerous CEOs who decline to participate. These CEOs are busy meeting face to face with potential clients and networking in the community. Meanwhile, their younger counterparts are checking for mutual connections on LinkedInLNKD +0%and crunching numbers to determine the success of their Twitter campaigns.

Both modes of working have their benefits, requiring professionals to strike a balance between their online lives and real-world networking. But with more consumers turning to the internet to find information about a business, a comprehensive online presence is becoming increasingly crucial to a business’s success. Just as retailers like Best BuyBBY +0.11% and Wal-Mart must learn to keep up with Amazon’s forward-thinking marketing techniques, old-school businesses must find ways to reach out to this new generation of social media-obsessed shoppers.

Upstarts Prevail

Interestingly, some of the most successful businesses are small startups that have learned to use technology to gain an edge. Rather than shelling out millions of dollars for a Super Bowl ad, these companies learn to generate buzz by creating viral content and encouraging shares and likes. Once a product or service becomes the one everyone is talking about, customers gravitate toward it, eager to learn more.

The best part about social media marketing is that it can be deployed without spending millions. If businesses handle it on their own, it costs nothing but the time of the person doing the updates. The worst part, however, is that the results aren’t always as immediate and powerful as they are with an expensive ad campaign. Professionals must wait patiently as a slow buzz is generated, using analytics and sales numbers to determine whether their efforts are paying off.

Be sure to check out the rest of this article at www.forbes.com

 

Scott Lumley the Transformer