Social media has quickly changed the business landscape, prompting business owners to alter their practices in order to keep up with what’s profitable. Here are some of the aspects that rapidly changed thanks to social media.
Old school advertisements are out as you now focus on trendy methods such as banner ads, hash tags, and online promotion. Businesses are now placing their advertisements in places where they know the target market is located – social media websites. This includes Facebook, Twitter, Pinterest and a bunch of others.
Thanks to SEO – businesses can now be made more visible to those people who are actually seeking their services. This is actually a form of advertisement that basically puts you at the top of the list whenever people look for a service that you are capable of providing.
But what do social media have to do with this? Google now takes into account Facebook accounts when calculating their page ranking. Hence, being active in social media actually makes it easier for people to look you up and find information about you. The great thing about this approach is that you’re not the one who’s persistently trying to create a connection. Rather, they voluntarily look you up – which greatly increases your chances of actually closing that deal.
Perhaps the biggest leap made by social media has something to do with brand marketing or making connections with your client base. Social media platforms like Facebook and Twitter makes it possible for you to engage in a community and actually converse with your target market. This lets you address issues, get into conversations, and inform them of any changes occurring under your administration.
Through consistent connections, you’ll be able to create an impression that goes beyond the typical. Your business gets a ‘personality’ and this is something that people will definitely remember.
Economics of It
Of course, let’s not forget about the economics of it all. With social media, you get a lot of bang for your buck. It’s a small enough investment that allows you to send a message to thousands of people in just one click. This certainly beats the more expensive traditional marketing techniques.
Local businesses catering to a limited area like Toronto, Canada will find that this is by far, the easiest way of reaching clients without spending more than their capital will allow. The economic value of using social media has been consistently observed by small business accounting professionals with the ROI being twice as fast compared to more traditional methods.
If you’re not sure just how social media is changing the business sphere, try using the services of a cloud accountant to help you better calculate the rate of return. There’s nothing quite like solid numbers to tell you that a difference is being made.