Business Strategy (Social Media)

When it comes to defining your business strategy, one thing is for sure, there is no strict formula. However, one thing is for sure, when we are prospecting for potential leads, social media is one of the most important tools, particularly in white collar environments, such as a law firm or an accounting agency. The downside to social media though is that it can be difficult to manage and can have a reverse effect on business reputation. The focus of this challenge will be for small business marketing to be onto of social media.

Ask yourself, how do you know which social media conversations are most relevant, and how can you turn them into a great customer experience?

Small businesses don’t just operate physically, but the necessity to operate virtually has risen. Businesses are talked about on Twitter, Facebook, blogs and dozens of other social media websites. The big concern here is how many of these blogs need monitoring, and better yet, how do you as a business owner know when to interact.

With Yabbit’s Social Media Manager, social customer interactions have elevated customer experience for small businesses in this virtual realm – not only being able to answer questions quickly, but identify sales and service opportunities instead of getting bad ratings. In the even that a person is mentioning your small business or brand, an employee will receive an email containing all the material essential to responding to that mention.

Is social media my businesses ‘thing’?

We have discussed cold calling, video conferencing and methods which involves your sales pitch being heard by only a handful of people, or at least one person at a time. Social media gives businesses the opportunity to expand their market, for some entrepreneurs, social media marketing is the next big thing, and it is my belief that it is already here, giving businesses a louder voice and stronger competitive edge.

Forbes magazine said that social media can increase brand recognition, improve brand loyalty, give your business more opportunity to convert and create high conversation rates. Consumers today have become even more fragmented in how they engage with traditional and social media, trends show that online shopping and the reliance on social media to aid in purchases are a source to authenticate and help identify that the purchase is right for them. So how do the statistics correlate?

33% of businesses have a social media presence, and consumers double that at 68%; and, 79% of Australian’s access the internet daily.

The trend of consumer behaviour is becoming increasingly dependent upon the internet for online shopping, research, and authenticity of products. Although this article has not designed the ultimate business strategy covering every topic, in my opinion it covers the most important; social media provides a massive market place, visited by hundreds prospective buyers every day.

Integrating into your business model should be a method of capturing those prospective buyers, whether by Yabbit’s Social Media Manager, or something similar, and being able to bring them back to virtual collaboration to deliver them your business’s marketing pitch. So in addition, it would be recommended that your sales staff have an application that allows them to send and receive files, as well as communicate with the prospective buyer on their terms, such as instant messaging / web chat.