How Social Media Has Changed Modern Business

>How Social Media Has Changed Modern BusinessSocial Media has become a huge communication tool. While it was once used as a way for teenagers and college kids to interact, it has become a huge asset to businesses. Whether you want to attract fans or connect with customers, companies like Facebook and Twitter allow you to do it in real time. Here are just a few of the ways social media has changed modern business.

Ability to Attract Fans and Followers

Customers have always been loyal to brands, even before there were brands. However, Twitter and Facebook gave customers a chance to show their loyalty by following or becoming a fan of the company. This gives companies a chance to build relationships with their customers on a huge level. For example, Coca-Cola has over 500,000 followers on Twitter and over a million fans on Facebook.

Immediate Access to Customers

You no longer have to rush out a press release to reach your customers. Social Media sites make it possible to reach your customers in real time. For example, let’s say you want to have a sale, right now. You can post a Tweet on Twitter and watch the money roll in. You can even say that the deal is for Twitter fans only and watch the money roll in even faster.

Chance to Connect with Customers

With Social Media sites, companies can act more like a small business, than a multimillion dollar corporation. This gives them an advantage because customers will think of them as real people, rather than money hungry corporations. The same is true for any small business. You have the ability to connect with customers one-on-one to show them that you care about what they think.

Free Marketing

When you can reach literally millions of people, why not use it to your advantage? Twitter and Facebook are excellent ways to market your product for free. Thanks to the branding options that both companies offer, it’s even easier to get your logo noticed by millions of users.

Data Analysis

Last, but not least, social media gives companies the chance to see exactly what customers think of their product in a real time, inexpensive setting. A social media analyst can be hired to check comments about the company on networking sites and see how a new product is liked or how a new commercial went over. It’s also a quick way to detect a problem before it becomes a huge issue.

Social Media isn’t just for kids. There are a number of reasons why every company should take advantage of the benefits Social Media has to offer. Whether it’s free marketing or data analysis, social media has definitely changed modern business.

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About the Author: Cody Ogorman loves studying the effects of social media on businesses. He specializes in social media monitoring and enjoys helping business owners learn how to incorporate the online world into their marketing plans.

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