Saturday, 16 November 2013

How Social Media has affected my business

The days when social media was a business experiment carried out in a small corner of the marketing department are over. As a growing, dominant trend in internet communications, social media now informs all aspects of business operations from marketing, sales, customer service, legal, and financial departments. The well being of every company is determined by its human capital. Here are some some of the ways that social media impacts business operations:

Human Resources: According to Mashable, businesses saw a 43% improvement in quality in the hires they located on social media. In sales, social media is a launch point for monetization of content and product promotion.

Sales: Social media generates direct sales. Dell leveraged its social media presence on Twitter to generate $3 million in computer sales.

Customer Service: Helping customers now extends into social media, where hashtags (#) and handles are monitored for complaints that can be resolved via tweets or Facebook posts.

Legal: To address legal demands, Google introduced its HIPAA Business Associates Agreement that guarantees HIPAAA compliance for companies legally responsible for protection of privileged health information.

These are just a few examples of business operations impacted by social media.

All teams (not just marketing) are responsible for their company’s social media monitoring and engagement. Social media dynamics have exploded into a tsunami of information, affecting every aspect of business. MIT Sloan Management Review says: “As a business solution, social has evolved, moving well beyond the marketing department, to address business objectives across the organization.”

The necessity for a true grasp on social media was exacerbated by the explosion in the use of hand-held digital devices as a communication and information search tool. This trend is extremely beneficial to businesses active on social media, as it expands a business access to consumers and increases customer purchasing activity in a way that is unprecedented in human history. The complexity and rapid growth of the social media landscape demands strategic planning and mastery of social media dynamics.

Get “Hyper-Local”

The consumer-brand dialogue catalyzed by social media levels out the global marketplace in regards to branding and communication. SMBs now have to think like Fortune 500 companies and vice versa. Companies have to be in control of their presence and voice within the global marketplace while retaining local relevance and profitability.


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1 comment:

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