There are a staggering number of outlets available for consumers to search for products and services. From Google, Yahoo and Bing to Angie’s List or Craigslist to Facebook or Pinterest, people are spending much more time online researching before making a purchasing decision.
While many businesses may have an excellent track record within their industry, not having a presence on social networks can be detrimental many companies. Without this presence, when consumers are exploring their options before making a purchase, companies are missing out and it ultimately affects the bottom line. Using social media is an increasingly beneficial way for businesses to build and improve their reputations.
Fronetics Strategic Advisors believes that embracing presence is a great way to build your reputation. Here are three reasons why using social media is a valuable decision your company needs:
1. People Should Be Talking About You.
According to Ragan Social Media, 97 percent of consumers who bought a product based on an online review found the review to be accurate. Online reviews can be found on nearly every type of social network – from LinkedIn and Facebook pages, to conversation on Twitter and Reddit. Consumers are talking about your product – and if they are not, there is a problem.
2. The Higher the Number, the Better.
When consumers are researching products and services, they will be looking at your social media channels. Consumers want to know that your business is the go-to in the industry, that you are fully knowledgeable, and want to see that you are sharing content that is relevant to your industry and not simply using social media as a completely self-serving tool. Using social media as a tool to demonstrate thought leadership will increase your reputation. Having a solid number of followers on your social networks, and a high rate of engagement with them, will let your potential customers know that you are a reliable resource for information – and ultimately, a great product that they need to have.
3. Social Media Can Help You Manage Your Reputation
Unfortunately, in businesses across all industries, there are public relations issues (and sometimes nightmares) that require a level of management that is difficult to achieve by simply distributing a press release or adding a note to your website. Building a strong brand through social media and utilizing these channels as a means of being more transparent to consumers is highly beneficial to all businesses. These efforts supplement your public relations efforts and can help restore brand loyalty.
Over the past decade, social media has significantly changed how companies can manage their image. Having a low number of followers and lack of engagement will be a negative on many different levels. On the contrary, building a strong social media presence allows for businesses to connect with customers and consumers like never before. Take advantage of this opportunity and interact with your customers – you’ll be sure to learn something about your own company, as well as about your targeted consumers.
There are a staggering number of outlets available for consumers to search for products and services. From Google, Yahoo and Bing to Angie’s List or Craigslist to Facebook or Pinterest, people are spending much more time online researching before making a purchasing decision.
While many businesses may have an excellent track record within their industry, not having a presence on social networks can be detrimental many companies. Without this presence, when consumers are exploring their options before making a purchase, companies are missing out and it ultimately affects the bottom line. Using social media is an increasingly beneficial way for businesses to build and improve their reputations.
Fronetics Strategic Advisors believes that embracing presence is a great way to build your reputation. Here are three reasons why using social media is a valuable decision your company needs:
1. People Should Be Talking About You.
According to Ragan Social Media, 97 percent of consumers who bought a product based on an online review found the review to be accurate. Online reviews can be found on nearly every type of social network – from LinkedIn and Facebook pages, to conversation on Twitter and Reddit. Consumers are talking about your product – and if they are not, there is a problem.
2. The Higher the Number, the Better.
When consumers are researching products and services, they will be looking at your social media channels. Consumers want to know that your business is the go-to in the industry, that you are fully knowledgeable, and want to see that you are sharing content that is relevant to your industry and not simply using social media as a completely self-serving tool. Using social media as a tool to demonstrate thought leadership will increase your reputation. Having a solid number of followers on your social networks, and a high rate of engagement with them, will let your potential customers know that you are a reliable resource for information – and ultimately, a great product that they need to have.
3. Social Media Can Help You Manage Your Reputation
Unfortunately, in businesses across all industries, there are public relations issues (and sometimes nightmares) that require a level of management that is difficult to achieve by simply distributing a press release or adding a note to your website. Building a strong brand through social media and utilizing these channels as a means of being more transparent to consumers is highly beneficial to all businesses. These efforts supplement your public relations efforts and can help restore brand loyalty.
Over the past decade, social media has significantly changed how companies can manage their image. Having a low number of followers and lack of engagement will be a negative on many different levels. On the contrary, building a strong social media presence allows for businesses to connect with customers and consumers like never before. Take advantage of this opportunity and interact with your customers – you’ll be sure to learn something about your own company, as well as about your targeted consumers.
This post was originally published on DC Velocity.
Social technologies offer business enormous potential – potential to unlock value and to increase productivity. How enormous is this potential? The McKinsey Global Institute (MGI) looked at four sectors (consumer packaged goods, consumer financial services, professional services, and advanced manufacturing) in the United States, Germany, United Kingdom, and France and found that social technologies could unlock between $900 billion and $1.3 trillion across these sectors on an annual basis. With respect to productivity, MGI found that social technologies have the potential of raising the productivity of high-skill knowledge workers by 20 to 25 percent.
What are social technologies? Gartner, Inc. defines social technologies as: “Any technology that facilities social interaction and is enabled by a communications capability, such as the Internet or a mobile device.” Examples of social technologies are: blogs, social media (e.g., Facebook, LinkedIn, Twitter), social business software (e.g., Jive, Moxie), and supply chain operating networks (e.g., GT Nexus, E2Open, One Network).
Social technologies are powerful tools because they improve communication and collaboration. MGI estimates that a shift from channels designed for one-to-one communication (e.g., phone, email) to social channels could reduce the time an employee spends on email by 25 percent per week and the amount an employee spends searching for content and expertise by 35 percent per week.
Don’t get discouraged by this. James Manyika, Michael Chui, and Hugo Sarrazin (all from McKinsey) note that establishing a culture that supports social technologies is worth it:
It may take years to establish the conditions of openness and to build trust across the organization, but the companies that accomplish this transformation will not only reap the greatest benefits from social technologies, they will also find that they are faster on their feet, more adaptable, and much more capable of absorbing — and acting on — new ideas. Not a bad investment.
This post was originally published on DC Velocity.
Social technologies offer business enormous potential – potential to unlock value and to increase productivity. How enormous is this potential? The McKinsey Global Institute (MGI) looked at four sectors (consumer packaged goods, consumer financial services, professional services, and advanced manufacturing) in the United States, Germany, United Kingdom, and France and found that social technologies could unlock between $900 billion and $1.3 trillion across these sectors on an annual basis. With respect to productivity, MGI found that social technologies have the potential of raising the productivity of high-skill knowledge workers by 20 to 25 percent.
What are social technologies? Gartner, Inc. defines social technologies as: “Any technology that facilities social interaction and is enabled by a communications capability, such as the Internet or a mobile device.” Examples of social technologies are: blogs, social media (e.g., Facebook, LinkedIn, Twitter), social business software (e.g., Jive, Moxie), and supply chain operating networks (e.g., GT Nexus, E2Open, One Network).
Social technologies are powerful tools because they improve communication and collaboration. MGI estimates that a shift from channels designed for one-to-one communication (e.g., phone, email) to social channels could reduce the time an employee spends on email by 25 percent per week and the amount an employee spends searching for content and expertise by 35 percent per week.
Don’t get discouraged by this. James Manyika, Michael Chui, and Hugo Sarrazin (all from McKinsey) note that establishing a culture that supports social technologies is worth it:
It may take years to establish the conditions of openness and to build trust across the organization, but the companies that accomplish this transformation will not only reap the greatest benefits from social technologies, they will also find that they are faster on their feet, more adaptable, and much more capable of absorbing — and acting on — new ideas. Not a bad investment.
