Social media today offers innumerable opportunities for entrepreneurs to grow small business and boost profits. Most social networks are designed to enhance the online community, exploiting inter-connectivity for better communication, relevance and user experience. A rapidly increasing number of businesses are choosing to deploy connection-based communications mechanisms to progress corporate business objectives.
LinkedIn, YouTube, Twitter and Facebook are among the brands already widely recognised, but there are thousands of communities out there in cyberspace that have evolved into ideal platforms for small business. Whether it’s to provide customer care and support, forge new connections or just to get a corporate message circulated, social media and networking can help business gain exposure, achieving increased overall understanding of their audience, and vice versa, through direct engagement.
A further function closely related to that of customer care is crisis management, especially true if email and website servers are non-operational. Social media sites can help make customers aware that a situation is acknowledged and is being addressed…unless you are really unlucky and the Twitter database servers are overloaded ^_^
Another area where business has shown to be effective using social media is public relations, advertising and marketing. No longer are companies forced to advertise through print and broadcast media, or even gain exposure on search engine results. Rhetorically, why did Google release a product based on these principles? Today, you can communicate your message directly with your audience as Facebook fans, Twitter followers, or YouTube views.
The benefit of higher conversion rates is of great significance to businesses using social media. It is a far easier task to convert a fan or follower into a paying client or customer. People who like your page and follow your Tweets are already interested in your company, products or services. The key point is that if you are already connected, your conversion ratio should be higher when converting a social connection.
Finally, ensure that you manage and conduct your social media presence in a professional manner, connect with your prospects keeping them up to date with company news, events and any latest offers.