Business owners and entrepreneurs have their hands full with endless tasks to accomplish. Few would have the time to spare for social media applications, widely believed to be networking sites to pass time rather than accomplish something substantial. But entrepreneurs have begun to see the advantages of these social media sites, and the benefits they bring to businesses as an effective medium to promote it. Twitter and Facebook are often shunned by such people since they are not convinced how these will help in raising their bottom line. However, entrepreneurs need to understand the advantages of social media applications before deciding otherwise. Some of these include:
- Platform for high visibility- Visibility is the biggest advantage of social network sites like Facebook and Twitter. Since it s has memberships running into millions they offer as many potential customers, who will be able to see the product, recognize it, and then consider buying it since it looks so familiar. The entrepreneur need not stay focused on these sites, but a daily update of his status on such sites will help him make people aware of his products and services. Both these sites provide access to the end consumer, who can thus be converted into a potential customer.
- Popularizing brands- Social media sites are an excellent route for brand promotion. Besides making people aware of the brand in question, it helps entrepreneurs highlight the distinguishing features of a brand that makes it stand out and different from the others in its sector. Entrepreneurs hooked to Twitter and Facebook find it an excellent way to create awareness for their brands and reach out to people with similar interests. Twitter and Facebook posts keep others on the network informed about new brand initiatives and they help convert potential customers into paying ones.
- Greater customer interaction- Both Facebook and Twitter offer the best platform for friendly customer interaction. Entrepreneurs are able to keep track of customers and those interested in their products and services. Customers can post queries and have doubts resolved before deciding to buy a product. Thus customer service reaches a new level and direct interaction between producer and consumer helps to forge lasting relationships. Reviews and customer feedback forms the basis of improving both the products and the services for them.
- Which sites, Facebook or Twitter- While using both sites may appear to be a waste of time, the choice of one out of two would depend on the target clientele. Facebook is popular as a social platform where known people already having established relationships meet online. Twitter is a true social networking site where unknown people with common interests meet, and hence is recommended by many as the ideal site for expanding the reach of a business.
- What to expect from these- Businesses do not expand overnight and suddenly get a huge number of customers with membership of Facebook and Twitter. They are free sites, but returns to investment will take time after a substantial investment of time to keep the sites updated about the entrepreneurial plans of the company-but they do yield results over a period of time.
What are your thoughts? What networks do you use and which one has worked the best for you?