The Impact of Social Media on your Business: 4 Reasons to Consider it

The Impact of Social Media on your Business: 4 Reasons to Consider it

Social media can help your business get the visibility it deserves. In this article, we will talk about the impact of social media on businesses today and why having your business on social media is a necessity now.

Social Media is the new “buzz” word. Image: Tracy Le Blanc

Social media is the new “buzz” word everywhere. Whether you love it or hate it, you can’t ignore it. There are many debates about the influence and impact of social media on society, culture, etc. but we’re sure about one thing- it definitely brings your business on a global map. In this article, we’ll discuss the impact of social media on businesses today.

Social Media : Building a Brand Image

Social media gives a boost to your brand image. Image: Mikael Blomkvist

Want your business to stand out? Social media is the key. The impact of social media can be immense in creating a brand image for your business. It gives you the liberty to be creative and reach more people that may not be possible with a website. If used properly, it helps you create your own brand image in your business niche giving you an edge over your competitors.

Building Relationships with Potential Customers

Connecting with customers is easy with social media. Image: Cottonbro

Social media has the power to reach a global audience. The impact of social media is such that there is no limit to the opportunities of expanding your business. Social media can give you feedback that may not be possible through other channels of communication. It is easy to interact on social media with the help of comments and replies. Keeping an eye for constructive feedback can help you improve your products. 

Many customers recommend products via social media. A good word of mouth on social media by your customers will help your business reach out to more people helping you build relationships and stay connected with your old and new customers with ease.

Studying your Competition

Impact of social media
Social media can be helpful in understanding your competition. Image: Karolina Grabowska

While you’re creating your own space in the world of social media, your competitors too are using social media to do the same. The impact of social media on your business also depends on how your competitor is using the same. However, it also has an advantage! Everyone starts promoting their products on social media as soon as they launch them. This helps to understand the strategies they are using to improve their products and get an edge over others. But remember, they are doing the same! So be very discreet and smart about your own strategies. 

Despite your business being completely exposed on social media, one can’t deny that it helps you study your competition and helps you understand what the market expects from you. Even social media experts recommend businesses keep an eye on their competitors on social media.

Understanding Consumer Behaviour

Impact of social media
Social media insights can help in understanding consumer behaviour. Image: Cristina Dina

The impact of social media is definitely influencing consumer behaviour. Most of the social media platforms have tools that can give insights as to how new potential customers are reacting to your business on social media. One can track: who visits the account; how many people press the ‘like’ button on each post; how many unique views, or simply put, the new people that the account has reached; and much more.

This can help you create strategies to include new people and also promote your products.

Pros and Cons of Social Media:

Impact of social media
So should your business be on social media? Image Source: Flickr

The impact that social media creates has its pros and cons. To sum up, let’s discuss a few of them:

Pros:

  1. It’s free: Anyone can sign up and start promoting their business.
  2. Global Reach: It’s breaks physical barriers and gives you access to larger audience
  3. Proactive communication: You can interact with your customers more easily
  4. Easy promotion tools: More scope for promotions
  5. Creating your own niche: It helps your business carve its own identity 

Cons:

  1. More Competition: Your competitors are out there too. So you’re fighting a battle to stand out from the crowd.
  2. Creating Controversy: Bad words spread even faster than good words. One wrong move on your part and it spreads like fire. Be careful with what you post!
  3. Paid trolls: There are people who are paid to write bad reviews about products. If someone is targeting your page and if you don’t handle it properly, it may be damaging for your business reputation.

As you can see there are more pros than cons. Social media can be hard in the beginning and let us warn you it will be difficult too. However, with apps like Dash101 that not only lets you start your own business easily but also provides tools for social media marketing, life becomes easy. Remember, consistency is the key. Good results will take time but you must keep at it. Every business, big or small, is out there. And so should you!

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