However, social media is almost always used just as a marketing tool by itself. There are marketing benefits of using social media which I am fan, trainer and user of, however creating a social business can do a lot more and reap huge benefits in the long run.
Social business is a fairly new term on and not many entrepreneurs would know what it actually means. It definitely does not imply a business using social media for marketing purposes. It has far more utilities and benefits lined up for any business.
A social business is typically a business that uses social media in all facets of the company’s modus operandi. It is being widely believed, and rightly so, that social media is all set to become a focal point for any business. Right now, social media is just at the peripherals of any business whereby some marketing efforts yield fruit while others are simply futile attempts at conducting promotions and special sales.
Here are some of the benefits of doing social business.
- A social business puts much more focus on the value that social media can offer a business rather than only the marketing rewards.
- Social business calls for an inclusive involvement of social media and internet users which offer a wider platform to share and discuss almost anything about a business. Right there, a business gets to build a foundation for employees to interact with online citizens and gauge popular opinion. The opinion, feedback or thoughts can then be taken back to the boardroom for illustrations and a business can take appropriate steps to enhance a positive feedback or to curtail some criticisms.
- Several major corporations in the world are mulling over an idea to get the consumers involved in the creative process of product development or in the conception of an idea and developing it as per popular sentiments. In fact some companies have already started this process with various degrees of success, such as Nike.What this does is, it offers any business the leverage to do prelaunch market research and also gain specific product feedback even before something has been created or developed.
- Being a social business can have far reaching effects in terms of brand value. With social media gaining more acceptance as a common mode of communication and interaction, customers are more likely to interact with individuals and trust them rather than a brand. With people getting more exposure to social media from businesses and brands they like, it is upon the shoulders of the the entrepreneurs and executives to drive their brand value using their own reputation and skills.
Let me know what you think.