A network is your business’s audience of people that are likely to turn to loyal customers. Thereby, translating into more sales for the company. The direct relationship between these variables has shown that the bigger the network, the bigger the audience.
Hence here are 9 reasons why social media made businesses easier to run. So if you are a business owner looking for ways to grow your fan base and gauge your audience feedback, then dive right in, to know more about social media and its effect on your business.
What Is Social Media
Social media is an online platform that serves as a medium for end-to-end communication between 2 or more people. There are different types of social media applications that carry out various communication styles, from Myspace, LinkedIn, Facebook & Twitter. Also Photobucket, Flickr, Snap chat, Instgram, for online photosharing. Other sites like Tumblr, Spotify, Foursquare & Pinterest arrived to fill specific social networking niches.
All these started with the need to communicate. Humans are social animals constantly wanting to be in touch with one another. Technology on the other hand found ways to break the barrier of distance, showing little or no difference between the new style of communication and the traditional way. Social media was birthed out of the need to expand the concept of networking & communication.
History Of Social Media
Many might opine that social media started in the 21st century due to the advent of applications like Facebook, Instagram, Twitter & Whatsapp which took the game to a whole new level. But all these are just a natural outcome of years and years of programming.
Writing as a means Of Communicating
The art of letter writing involved the delivery of letters by hand from one person to another. This method of reaching out sometimes took days for the message to be delivered. An upgrade came in 550 B.C. when the first form of postal service began operating and improved the delivery process.
The Telegraph was invented in 1792, solving the issue of slow delivery over long distances. One problem though was that messages through Telegraph had to be short, thus limiting the sender’s expression.
Telephone & Radio
Two technologies still in use today are the telephone and the radio. Both were discovered in the last decades of the 1800s: the telephone in 1890 and the radio a year later.
These technologies represented the golden art of communication. They enabled users to share information instantaneously, over a much wider range. This age marked amazing progress in communication. Technology began to change rapidly in the 20th century, with the creation of supercomputers. Developers looked for a way to create a connection between systems, which led to the rise of the Internet and subsequently strengthened Social Media.
Social Media In the 21st Century
Today, there are different types of social networks for different purposes aimed at creating technology that could connect us all. Online communities allow us to showcase our different lifestyles, share thoughts, and views.
It’s the most used technology today, as more than half of the world’s population makes use of social media, for different reasons. And the new Whatsapp Store created recently makes more people interested in the impact social media has on businesses today.
9 Ways Social Media Made Running A Business Easier
1) Allows Businesses To Be Everywhere
Due to the fact, that there are different social networks, people can now own different social media accounts at the same time. So let’s say a business owner promotes a business starting on the 7th of March. On the proposed date, that business would premiere on at least 8 social media platforms like Facebook, Twitter, Instagram, Linked In, Snapchat, Youtube. e.t.c., thus allowing businesses to be omnipresent. This was something businesses lack in real-time, but not anymore, thanks to social media.
2) Increases Businesses Outreach.
One very cheap but amazing feature that social media applications have inbuilt is the ability to sponsor your posts to thousands of people across the world, depending on the areas you want the advertisement to cover. This feature costs less than the regular adverts and has proven to be more effective due to the number of people that come across it as many times as the application runs the advert. The law of seven states that a customer is more likely to purchase a product having come across it up to seven times. Sponsored ads are available on Youtube, Facebook, Instagram, and help increase the reach of the business.
3) Fosters Industry Collaboration.
A lot of data is being processed, shared, and viewed on social media, not just for the customer but also for the business owner to benefit from. Business owners have a chance to collaborate with bigger vendors.
4) Adds credibility.
Many are so focused on their phones that phones are now more trusted than fellow humans. Well, it’s a little bit understandable as while some people can betray you, a phone can give you information about anything you need to know. And the first place customers go to see if a brand is authentic is its website and social media accounts. Having a well-organized business profile brings every visitor a step closer to purchasing a product.
5) Better Observation of Audience Feedback.
One feature that allows viewers and fans to state what they feel in the comments section. It allows for complete freedom of speech but of course in line with the guidelines of the social community. It also gives business owners free information via feedback from their customers. That way they know what they are doing wrong and even what to do next.
6) Helps Build a Personal Brand.
A social media profile page allows the account users to show their creativity with pictures, videos, stickers, etc. to brand their business page. See it as the one place that acts as a shop. Business owners are given the liberty to arrange it at will, thereby personalizing their brands.
7) High engagement & Referrals.
A social media page doesn’t get followers overnight. It requires consistent uploads, commenting on other people’s pages, and posting on your status. It is all these things that add up to more followers and the algorithm working in your favor, giving your post more views with more engagement. This may turn into referrals if the products are reliable.
8) Customer Loyalty.
In this aspect, consistency speaks volumes. A business owner must practically post every day, keeping in mind that people have a short attention span these days. And if you stop reminding them how good you are, you would be forgotten. Customers on the other hand want to see that their vendor is keeping up with the trends. That way they are satisfied they are with the right brand.
9) Freelance Shop.
You probably always wanted to start a business but lack enough finance to rent a physical shop. The concept of starting small could be addressed with this feature. Businesses today are mostly done on the Internet. Most vendors or business owners do not have a shop and instead set up a good profile. And just like that social media also provides a virtual shop for you to start a business.
Businesses no longer take so much time as a business can now be transacted faster over the phone rather than over the counter. Customers look online for recommendations, and social media makes it easier to find businesses/goods/services. Social media is arguably the best thing that has happened to businesses.