The advent of Social Networking Sites and the world of new media, such as blogs and various online facilities have definitely changed the landscape of business as we know it. This goes for both large scale industries and small businesses. Even start-up businesses benefit greatly from the power and breadth of this type of media.
Online marketing is one of the most effective ways a business can thrive in today’s business climate. Not only does going online increase the visibility of one’s products and services, it also allows for a quick response to inquiries, purchases and the like. In many ways, online media gives business owners a bigger picture to present its buying public.
Online Marketing Through Social Media is Affordable, Quick, and Flexible
How else do blogs and social media benefit your business? Besides providing a quick, affordable and flexible platform to promote your services and products, it can help level the playing field through the availability of advertisements that are suitable to a new businesses budget. Unlike more established companies that can afford television spots for ads and the like, small businesses can utilize these ads instead.
Social Media sites, such as Twitter, also expand one’s reach as “word of mouth” quickly spreads feedback about its presence in the market. Similarly, creating a business page or a “fan page” for your business on the widely popular Facebook allows potential customers to have access to your company, all with the click of a mouse.
These sites not only introduce you to the public, but this can allow you to engage them through the interactive features of Social Networking. By responding to inquiries, providing promos and highlighting specials for the week can whet a buyer’s appetite. For example, a local board game store in the Philippines uses Facebook to entice its followers to check out various boardgames on a regular basis by showcasing a new game with their Boardgame of the Day status.
Bad News Can Spread Quicker Than Good News
While the benefits far exceed its limitations, it cannot be denied that there are times when social media can actually be detrimental to the product or company.
As Tweets about good products, services and the like allow individuals to influence their followers to try these for themselves, negative Tweets can also spread like wildfire. For example, if a local restaurant served a subpar product, or worse, contaminated one, this is easily spread over the Internet, thus negatively impacting their reputation. While these businesses cannot stop an individual from voicing their opinions about their experiences, they can readily respond to these claims by interacting with their customers. Responding amicably to these comments and providing a transparent investigation about the situation can remedy a bad situation.
Similarly, small businesses that put “all their eggs in one basket” may be disappointed by the response they get from online media. While social media does increase business potential, it can take time to reach that point. Despite the fact that the Internet is the most common source of information nowadays, never underestimate the power of personal marketing as well, such as handing out flyers, giving out samples and engaging personally on a face-to-face basis with potential customers.
The biggest mistake a small business owner can make with regards to harnessing the potential of social media is failing to do his or her research about the platform. While creating blogs are getting simpler and simpler by the day, this does not necessarily equate to instant success.
Lastly, while Social Networks make the world smaller and expand the reach of your business, it is important to remember that overreaching your capacity, particularly when it comes to your ability to deliver to your customer, can be the downfall of your online reputation.
The bottom line is social networking and social media provides a small business with a platform of potentials that can be maximized for full benefits, but these businesses should not expect the online community to do the work for itself. As with any business, hard work, perseverance and consistency are key ingredients to success. Social networking sites and social media, well, that’s the icing on top of the cake.
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“Bad News Can Spread Quicker Than Good News. This is the purest form of reality, good news does not sell as much as bad, if a tragedy then.