Impact of Social Media on Consumer Behavior and Customer Relationships

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The Power of Social Media for Businesses

In today’s world, social media is everywhere. Thanks to the rise of these platforms, people can express their opinions and share ideas more quickly while speaking to a larger audience. At the realization of this power, many businesses have begun to sign up for social media accounts in order to spread the recognition of their brands and promote their products. Here are some ways that social media can be used for your business:

Intra-Company Relationships: How Social Media Affects The Engagement between Employees and Their Company
• Adapting to an organization and HR changes – 60%
• Collaborating or sharing new ideas – 60%
• Encouraging health and wellness – 59%
• Community or team building – 58%
• Giving businesses a line of sight – 55%
• Promoting stepping out of the comfort zone – 45%

Customer Relationships

Social media allows companies to speak directly to their customers individually. This special attention promotes loyalty and gives birth to brand ambassadors as well. Target your audience and send relevant messages via social media to maintain interest and loyalty.

Facebook
Fan pages are a way to build communities and gather a following for businesses. They collect the people who are enthusiastic about what you have to offer and allow you to connect with them.

Twitter
Whole Foods – This company has specialized accounts that address the needs of different customer categories and store locations.

Comcast – This company set up a Twitter account in 2008 as a customer service solution and to this day has addressed the needs of over 150,000 users.

Engagement
Ask customer directly for their input so that you can cater to them and make them feel involved as well. Your customers will feel great about having their opinions heard and will have a higher chance of loyalty as well. Threadless.com used this technique to get customers to participate in T-shirt designing with the incentive of having their work being worn and seen by the public.

5 Steps to an Effective Social Media Strategy

1. Set Your Goals
2. Study Your Audience
3. Build a Base
4. Find a Platform
5. Stay Active and Update Frequently

Use social media as a means to spread the word about your business and the work that it does. Gather a following that is just as excited if not more about what you do and connect with your audience to create relationships that will result in customer loyalty and sales. Failure to do so will not only hold your business back, but will not help your credibility as well because it is now expected for companies to engage with their audience.