Social media marketing is a boon for small and medium scale organizations. The organizations that have jumped on the social media bandwagon have received various benefits which are discussed below. Though some of the late comers have missed some of the ‘first mover advantages’, they have realized that late is better than never.
Following are some of the advantages that the firms, which have entered social media groups, received with the introduction of social media:
Increase in sales volume: Social Media helps to get more leads, which indirectly results in the hike in the volume of sales, which ultimately results in profitability. However, some of products and offers may receive quick response while others may take more time than expected to receive leads from audience.
Building relationships: Social Media helps us reach our customers and improve rapports with them. It helps us know about the requirements thoroughly in a more effective way.
Educating Customers: Social Media is proved as a mutual beneficial to both firms and clients as it helps us educate our customers about our offers and products. Some organizations encourage some of their loyal customers to start their own social media groups in order to express their opinions and share their experiences with products and offers of the organization. They started using the LinkedIn Answers, a feature that allows people to ask questions and receive answers.
Branding: Social Media has helps us improve credibility in industry and to build reputation. It makes products and offers more popular among customers.
Improvement on ROI: Social Media enhances our ROI (Returns on Investment). You need not invest a big amount to enter social media marketing to achieve greater success rate due to an enormous improvement in our sales volume. To keep it in nutshell, what you put into it is less and what we have got out of it is more.
Reasons for our success: Following are some of factors for the success of a firm in social media promotions:
· Make social groups customer friendly and customer centric.
· Make an extensive use of micro blogging.
· Emphasize more on core areas of the value chain, including the marketing and communications and customer service departments.
· Though the IT department is not involved in social media promotions as a primary decision maker, integrate the department with existing business processes to derive maximum benefits.
Conclusion: One can improve one’s business by entering social media; however, one has to realize that the success of social media promotions depends on the structured and organized manner in which it is implemented. It is advisable to for them to focus more on carrying social media promotions in more structured, organized and effective manner.
Written by: S.Chandrashekara Reddy
Mail ID: chandrashekarareddys@gmail.com
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