4 ways social media has changed the way we do business forever

Thirty years ago, it was essential for companies to be listed on yellow pages as that was the way people searched for businesses. With the world wide web, company websites became the next go-to place for information. Once social media became a mainstream phenomenon, it was the progressive next step for businesses to move there.

Today, every business needs some form of social media. Some generate significant returns from social media, while others from fighting for exposure on those platforms. Regardless of the success of each social media policy, the fact is social media has a major impact on businesses all around the world.

Here are five ways how social media has changed how we do business forever.

  1. Increased importance on customer service

Social media have helped to increase communication opportunities between businesses and their customers. A direct message on social media takes mere seconds to reach a businesses’ social media page, and companies are becoming more responsive because of it.

Small businesses can now interact with customers at a cheaper and faster pace. Any business can now offer real-time, around-the-clock service with nothing more than a social media profile. Customers can be won or lost in customer service, and more businesses have the opportunity to win over customers this way. Of course, horrid customer service can be disastrous, which leads could lead to… …

  1. Social Media Backlash

Social media has open communication and customer service opportunities, it has allowed increased transparency and engagement. However, that  has opens companies to risk of backlash should their customer service not meet expected standards.

Small businesses regularly have their owners engage customers on social media, many of whom have no customer service experience in the past. The repercussions for poor customer service are now more severe. Review sites like Yelp and Tripadvisor ensures that customers have a place to review restaurants and hotels, while Facebook and Twitter interactions are visible to all and can quickly go viral if something goes wrong.

There have been numerous social media mistakes in the past, thanks to an unprepared person trying to manage social media customer service. There are also multiple examples of companies who have mastered the art of the social media response.

  1. Targeted advertising made easy 

Advertising and marketing evolved with the boom of social media. It now allows for greater targeting of potential customers. It has never In history been this specific in regards to how you can reach your potential customer.

The most obvious example is Facebook advertising, which has provided advertisers unprecedented information to segment their audience, including Facebook viewing habits, demographics, and customer behavior.

Before the era of social media, businesses had to choose between mass media, outdoor media, and even websites that they think their customers could be on. Social media removed the guesswork and the data provided makes advertising more targeted than ever.

  1. Content creation is key

In the past, the only way to share content with customers is through newsletters (both online and traditional) or an online blog. Social media has made content dissemination easier and businesses are taking advantage of it by creating content that appeals to their audience. Each minute 2.5 million pieces of content are posted on Facebook!

Social media has become the new battleground for appealing to customers, at a significantly reduced cost for businesses, providing a win-win for all involved.

Conclusion

Technology changes how companies do business, and social media is constantly evolving. It is essential for businesses to stay on top of these changes to get a leg up on the competition.

About Stratgeist

Stratgeist is the predominant expert in enhancing social media performance for businesses. With more than a decade of experience in cutting edge social media technologies, Stratgeist helps businesses analyse the social media climate and tailor the strategy to get optimal results.

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