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Social networking may sound fluffy, until you begin to realise that it can actually boost your company’s profits. Aside from the light hearted moments people share with each other on social networking sites, many companies today rake in billions of dollars globally thanks to this new phenomenon.
Most social networking services are web based platforms that provide means for users to interact over the internet. The exciting aspect about these platforms is that they allow users to share ideas, activities, events and interests within their individual networks but at the same time receive feedback and share information instantaneously.
The most popular examples include Facebook, Twitter, Myspace, Friendster, plus much more.
However, social networking has also advanced to create business networking sites such as Likedin, Bnet, Focus, Ecademy plus many more. What does this mean for your business? Being on a social networking site means you have access to over 100 million people on a single platform.
Case in point, facebook has over 400 million members globally and in today’s world, there is no other platform that enables you to have access to 400 million people globally at one go.
From a marketing and communications perspective, this presents an endless sea of unexplored opportunities. Every business is trying to find creative ways to sell more of their products or services and today, social networking has presented probably the most simplified yet unique way communications and marketing experts can promote their products to a mass audience in the most inexpensive way.
With a simple click of a button, these sites enable your business to advertise, post new events, share images of your products or services and this in turn creates awareness and heightens brand visibility to a mass audience.
In today’s market large corporate companies, Small and Midium Enterprises (SMEs) and individuals are utilising this platform to push their brands and services.
For example, large beverage companies like Coca-Cola and Pepsi have incorporated these platforms as part of their marketing tools to promote their brands.
I recently discovered that some of these brands have up to one million fans and this speaks volumes about brand awareness. Telecommunications companies also use these platforms to advertise their latest promotions because these sites happen to have a large section of the targeted audience singed on.
From a local perspective, SMEs are also utilising social networking by setting up business accounts to show case their products and services. For example, in Uganda businesses like small mobile phone shops, music production companies, photography companies, clothing boutique owners and jewellery sellers are using this to market their products.
An example of a success story has been a simple book shop that set up a facebook page showcasing all the different genre of literature they had available.
It was through this page that customers begun to make request for books and begun placing orders online.
Within the first week, this new book shop had over 100 orders and by the end of the month it had accumulated 1,200 orders.
What does this mean? The viral nature of social networking is quite extraordinary and is something that can garner a lot of attention to your efforts in a hurry! Minimal cost, astonishing results.
Other businesses that have benefited from social networking are consultacies. For example, Human Resource consultancies today use professional business networking sites like Linkedin to find talent.
The site requires some résumé creation, then offers the opportunity to link in to other like-minded professionals. When used selectively, it can be a very powerful tool for identifying new business partners, new employees, or simply building your personal or business presence.
Indeed social networking is a new and rather fascinating concept. The truth is, the real potential of social networking is pretty much infinite. Social networking is indeed a tool that most businesses should use. The advantages are great and the relationships you build can enhance your reputation and allow you to market your products at almost no cost.
Social networking may sound fluffy, until you begin to realise that it can actually boost your company’s profits. Aside from the light hearted moments people share with each other on social networking sites, many companies today rake in billions of dollars globally thanks to this new phenomenon.
Most social networking services are web based platforms that provide means for users to interact over the internet. The exciting aspect about these platforms is that they allow users to share ideas, activities, events and interests within their individual networks but at the same time receive feedback and share information instantaneously.
The most popular examples include Facebook, Twitter, Myspace, Friendster, plus much more.
However, social networking has also advanced to create business networking sites such as Likedin, Bnet, Focus, Ecademy plus many more. What does this mean for your business? Being on a social networking site means you have access to over 100 million people on a single platform.
Case in point, facebook has over 400 million members globally and in today’s world, there is no other platform that enables you to have access to 400 million people globally at one go.
From a marketing and communications perspective, this presents an endless sea of unexplored opportunities. Every business is trying to find creative ways to sell more of their products or services and today, social networking has presented probably the most simplified yet unique way communications and marketing experts can promote their products to a mass audience in the most inexpensive way.
With a simple click of a button, these sites enable your business to advertise, post new events, share images of your products or services and this in turn creates awareness and heightens brand visibility to a mass audience.
In today’s market large corporate companies, Small and Midium Enterprises (SMEs) and individuals are utilising this platform to push their brands and services.
For example, large beverage companies like Coca-Cola and Pepsi have incorporated these platforms as part of their marketing tools to promote their brands.
I recently discovered that some of these brands have up to one million fans and this speaks volumes about brand awareness. Telecommunications companies also use these platforms to advertise their latest promotions because these sites happen to have a large section of the targeted audience singed on.
From a local perspective, SMEs are also utilising social networking by setting up business accounts to show case their products and services. For example, in Uganda businesses like small mobile phone shops, music production companies, photography companies, clothing boutique owners and jewellery sellers are using this to market their products.
An example of a success story has been a simple book shop that set up a facebook page showcasing all the different genre of literature they had available.
It was through this page that customers begun to make request for books and begun placing orders online.
Within the first week, this new book shop had over 100 orders and by the end of the month it had accumulated 1,200 orders.
What does this mean? The viral nature of social networking is quite extraordinary and is something that can garner a lot of attention to your efforts in a hurry! Minimal cost, astonishing results.
Other businesses that have benefited from social networking are consultacies. For example, Human Resource consultancies today use professional business networking sites like Linkedin to find talent.
The site requires some résumé creation, then offers the opportunity to link in to other like-minded professionals. When used selectively, it can be a very powerful tool for identifying new business partners, new employees, or simply building your personal or business presence.
Indeed social networking is a new and rather fascinating concept. The truth is, the real potential of social networking is pretty much infinite. Social networking is indeed a tool that most businesses should use. The advantages are great and the relationships you build can enhance your reputation and allow you to market your products at almost no cost.
