Social Media & Your Business

In today’s world, real or virtual, communication plays a major role in business. It has been estimated through a study that, 60 percent of the Fortune 1000 companies with websites would open a portal for online interactions with their customers. This research conducted by Gartner also predicts that around half of these will end up failing in their online communication efforts. This striking figure strikes harder in the current slump the economy faces. With all the resources at the disposal of these company giants and the impending loss, the smaller companies can probably barely survive, one might deduce. But there is hope for these small fry, in fact more so, as they have an inherent advantage being on a small scale. Less complex official routine and procedures leading to less backlog and easy functioning are to name a few. But big companies should not lose heart for it is not Nostradamus who has predicted this doom. Channelise your focus on your plan, strategize to optimize and you could be soon talking to your clients on your online network.

Social Media happens to be the new black in the internet business. With competing companies going social media savvy one may straight away jump into this venture due to the fear of being left behind in the race. The phrase holds its appeal truly but if you just hitchhike without knowing your driver, you are probably in for some nasty surprises! Without good background information and doing your homework well you’ll probably end up on Gartner’s failed attempt list. You need to chart out your strategy and plan out the course of action you would take towards online marketing. Begin by working on your foundation for you don’t want to crumble along with those less fortunate companies in this precarious zone.

You need to determine your clients of interest. This is a very essential step, so patiently lay the groundwork in this area. You can substantially lower your effort at attracting traffic by beginning in the right direction. Identify the social media network where your audience’s activities flourish. In the real world, to set up your marketing operation, you will lay out a plan which encompasses the sales, product information, client research and other vital departments. Same goes for online marketing. Social media enables you to have a platform for all your assets, resources and key players. Without devising a strategy you are on the way to a head on collision with failure. Devoting only a rubber stamp of a department to your media network gets a big no! Remember, in order to communicate effectively with your audience, there needs to be a strong collaboration within your different departments so that oversights are avoided at all levels. After this, you need to figure out whether your efforts are to any avail. As in the case of advertisements, the clicks generated indicate the success of the undertaking. But in this domain, you will have to analyze retrospectively. You could do so by comparing product sales and traffic generated.

You need to be completely honest about your identity and your aims to your consumers. No relationship can last without trust. You need to let the consumer feel you are on their side and open to communication. Bogus consumers pretending to love the company’s products deserve negative marks! If there is any leak or even a sniff of the wolf in sheepskin, then you have just successfully drained away your reputation into the deep blue. Bear in mind that your world may revolve around you and probably your enterprise’s too, but customers don’t want to hear that. They should be your focus. Sub consciously convince them that you are marketing for them to get the best and not to make money. That is the kind of message that will warm the public towards your company. Your listening skills will you offer you a great advantage here. Giving out questionnaire to find out what is on the consumer’s mind, getting feedback, addressing individual queries and concerns are a must. This is what you are essentially networking for. Social media holds great potential to reach out, advertise, interact and lead your company to more profits. But it is also very easy to screw up here by gold rushing into it. With your strategy up your sleeve, you get your money in your pocket.

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