With the rise of Internet social media platform have become more than just a medium of communication, today every major company has a social media account at least in Facebook, Twitter or Instagram. It has become an integral park of marketing strategy of any company. While web-based social networking isn’t the solution for online marketing issues, it can assume a considerable part in getting you generous outcomes.
Direct benefits of social media include straight forward interactions with fans, consumers etc in order to understand consumer needs and preferences better and more efficiently. Many companies pay hefty amount to social media giants such as Facebook to display their advertisements.
When a company creates a social media account and connects with its follower they would view the company’s content and share it with their peers who would then share it with others thus creating a multiplier effect and creating an efficient medium to promote their products and services on a global scale. Besides many of the follower of the company could be the target audience, thus helping in creating a better and efficient goods with assistance and feedback from target audience, and when the company does make change in accordance to the feedback received from customers it improves the client retention and it give an impression that the client has a say in the company’s production process and thus creating customer retention and brand loyalty.
Using social media the company can post their website address or links to their new letter and blogs, which would in turn create larger website traffic and hence would be a beneficial strategy for the company to increase the presence on the internet which in turn would boost the company’s popularity worldwide.
If a company has a promoting message and it needs to spread it to the fans and customers worldwide as soon as possible, it could simply post it the web-based social networking accounts.
Using social media accounts the company can also keep track of the activities of its competitors and the industry as a whole, in a ever changing world it is necessary for a company to consistently innovate in order to avoid becoming obsolete, hence social media is a power full medium which could a help a company to constantly and consistently innovate according to the industry needs. Using the knowledge of the competitor’s strategy the company can work accordingly to retain and grow its market base and share.
In conclusion we could say that social media has become a necessity of any company who wishes to remain a leader in its industry and wishes to connect to its consumer in order to work efficiently to match according to consumer needs and preferences.