Social media is a wonderful tool for a person or a business to broadcast their thoughts, feelings, or products to a vast audience. The availability and simplicity of mediums like Facebook, Twitter, and blogging make social media marketing accessible to even the most limited budgets.
However, businesses commonly err by using the available platforms to constantly bombard users with advertising. Continuous harassment of consumers to purchase products or services serves only to create animosity and a general distrust towards social media advertising.
How then, should a business use social media to increase revenue? By listening!
Social media is commonly described as a “conversation”. That implies that there is dialogue between parties discussing multiple sides of an issue. Users connected to social networks love to post their opinions for their network (and the world) to see. They had a good time at the movies? Update on twitter before the credits are finished rolling. Found a great restaurant? Picture and maps are on Google by the end of the night. Finding conversations discussing issues that relate to your business or industry is simply a matter of listening.
Once you have identified where these conversations (good or bad) are taking place, the problem is how best to leverage the information. Instead of jumping in and adding your two cents to every thread, look for patterns in multiple conversations. Are consumers constantly complaining about a certain incompatibility with a similar product? Are users thrilled with the price of a service you offer? By simply listening, the quality of your products and services improve because the consumer is telling you what they want.
Listening and making constant adjustments is not just a short-term quality solution. It creates a feedback loop between the consumer and the industry in general. When a customer purchases a product that solves a problem they tweeted about a few months earlier, they realize that they have directly impacted the industry. They are encouraged to continue posting reviews and comments, which generates more research for your business, and as you produce products and services that solve consumer problems, customers continue to post positive reviews for all their friends to see.
Social media connects users all over the globe in a community of conversation, discussion, and sharing. A business has a plethora of information available about the consumer, their likes and dislikes, and their behavioral habits. This information can be utilized to improve products and services, develop deeper customer relationships, and increase profits. And all you have to do is listen.
About Ritu Singh
Ritu has over 10 years of experience in planning, facilitating and executing marketing programs. She is passionate about marketing and driven to help start-ups and small to large companies market products and services online and offline.