In this day and age, nearly everyone who can get their hands on a cellphone or a laptop computer have social media accounts. Unlike in the olden days when social media was just starting out (think Friendster and Multiply), there’s now a plethora of social media platforms to choose from. There’s Facebook, Twitter, Instagram, Pinterest, and a whole slew of other platforms.
It wasn’t a surprise when businesses started turning to social media to advertise their products. But social media isn’t just for advertising anymore. It has evolved and now it’s possible to simply click on a ‘buy’ button on some social media platforms like Facebook and WordPress.
So. Are you on social media?
You don’t have to be a big corporation to benefit from social media. You can also maximize this trend without breaking the bank. A recent article on Yahoo! Finance enumerated ways on how even small businesses can “leverage the new social trends to drive increased revenue.”
According to “How Your Small Business Can Use Social Media to Boost Sales”, which was published by entrepreneur.com on Yahoo! Finance, there are “five strategies to boost sales in 2015” and they are:
- “Get personal.” Social media allows you to “humanize” your brand.
- “Prioritize customer service.” Being on social media is your opportunity to listen to your customers.
- “Don’t underestimate the selling power of a #hashtag.” Still not sure what a hashtag is? According to Wikipedia.org, “a hashtag is a word or an unspaced phrase prefixed with the hash character (or number sign), #, to form a label. A hashtag allows grouping of similarly tagged messages, and also allows an electronic search to return all messages that contain it.” Make sure you use relevant hashtags on your posts.
- “Recognize that social and mobile go hand-in-hand.” According to smartinsights.com, 80% of internet users own a smartphone. And what is a smart phone without a Facebook or Twitter app?
- “Add an online store directly onto social media platforms.” These days, consumers are all about convenience. What better way to give them that by enabling them to buy directly from your Facebook or WordPress page?
More proof that social media can help build your business up for increased revenue is this quote from the book, “The New Art and Science of Referral Marketing” by Scott Degraffenreid and Donna Blandford:
“…Statistics say that when somebody suggests something to you, you will consider that suggestion the next time you have an opportunity to buy or use that product 80% of the time. A Print Ad in a newspaper is less than 1%.”
Social media provides the ability to share knowledge, ideas, goodwill, and referrals. Significantly, “the incident of acceptance from a referral is often over 35%”.
Think about it. How many times have you looked at YELP reviews before deciding to eat at a new restaurant in town? You probably do the same thing when searching for a hotel to stay in, or when you want to buy a new smart phone.
It is a fact that social media makes a difference in terms of sales. But what’s great about it is that we can also use it to share our knowledge and to make a difference in the communities we serve.
If your business still isn’t on social media, it would be wise to act on it soon. You might be missing out on a lot of opportunities because of your absence.
So… See you out there on the World Wide Web?
Oh, don’t forget to follow us on Facebook and Twitter!
She has a bachelor's degree in Psychology and she's a strong believer in the powers of positive reinforcement as well as work-life balance.
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