What does social media mean for brands and small business?

by admin on October 11, 2012

Social media represents the biggest revolution of brand management since traditional broadcast media became mainstream. 

It’s not strange therefore that you feel like you are living in a blur and can’t keep up with this ‘new technology’.

If you break it down, for small business, social media represents an amazing opportunity. Here to stay is a cost-effective, immediate and content rich environment to communicate directly with your customers – not just your target market.

It is fair to say that never before has there been a medium by which we were so connected with our customers. 

Cultural shift

Social media is really just another platform. Like all mediums, we must consider how our communications message is tailored to make it relevant for that platform. Outside of that, what makes it so compelling is that it brings with it a cultural shift that empowers the consumer. In many ways, it is the customer service department opening it’s doors to public scrutiny. 

How to benefit? 

Brands should: 

  • SHARE their meaningful brand values with their customers.
  • EXPOSE new products to their best customers.
  • ASK for feedback and generate dialogue around their products/services.

Businesses should: 

  • BE compelled to have integrity in the delivery of their product or service offer.
  • BE consistent in your offer and stand by that in its delivery. Of course things can go wrong, say sorry and be on top of it.
  • NURTURE and REWARD your followers as they are converted and not only buy your product/service but can convert others via referrals or word-of-mouth (It is highly likely that these are your loyal fanatics and the 80/20 rule tells us that 80% of our sales come from 20% of our customers).

Strategic Alliances

Whatsmore, social media is an opportunity to build strategic alliances with like-minded, complimentary services and product offers. 

Consumer power is here to stay people. Have integrity, deliver beyond your customer expectations and you will be rewarded. Under-deliver and you will pay.

Image courtesy of http://www.adspice.net/.

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