What is Social Media and how can my business benefit from it?
Posted by by Dave on 26th Oct, 2009
Here is a short video explaining the rapid rise of social media in mainstream culture…
There is no doubt that the world is going through some fundamental changes in the way we communicate. The media world as we know it (tv, radio, newspapers) is crumbling. Our attention and time is now going online.
In the near future there will not be just a hand-full of TV networks and subscription services but and endless amount of video content (not to mention audio podcasts and blogs) supplied to us on demand for whatever topic interest us, through our broadband connections.
Who will create this content? Anyone with enough passion an a topic.
In fact, this has already been happening for some time, and the momentum it has gathered is now signalling the start of a Social Media Revolution.
One man at the forefront of the Social Media revolution is Gary Vaynerchuk who grew his family’s New Jersey wine store to a $40 million online retail business after creating Wine Library TV, an online show in which he reviews wine for 30 minutes ever day.
How can a small business benefit from this?
As more and more people flock to the Internet for information and entertainment, small businesses can benefit from the kind of exposure that only big brands could afford in the past.
TV, radio and print advertising is very expensive and rarely relevant to small business as the audiences are too big. In social media, content specific to your local area, or particular narrow niche, created for a much more targeted and smaller audience is common place.
Say for example you run a hotel in picturesque rural village. By creating a blog or podcast about the village, talking about the things that make it special, the events that people visit, etc, you are creating a source of information for people looking to find out about the place. You would be creating the kind of content that search engines love, people would share, and where people would hopefully end up when looking for a nice place to go for a break.
This platform would then serve as an indirect source of new customers for the hotel.
Why Social Media is Important for any business.
Regardless of whether you chose to implement a Social Media into your Marketing as a proactive way of finding new customers, people are using open Internet forums to discuss brands, services and the businesses that they deal with.
That means that any bad experience one of your customers has can be on the web and accessible by anyone considering your service.
No business is perfect and not all customers are easy to please. But unless you are active online, engaging with your customers and putting out there the kind of content that reflects positively on your business, then you are not in control of your brand.
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