The Business of Social Media

Who says social media is just social? More and more businesses and corporations are using social networking sites like Facebook, LinkedIn, and others as a viable means of promoting their interests.

Then, there are those companies that may have concerns about social media networking and marketing. Their concerns center on the uncontrollable aspects of social media. In other words, they may not be able to control the comments of the site visitors. While this is a valid concern, it should not completely dissuade a business from venturing into the social media world. The reason for this is fairly obvious: there are millions of people who frequent these sites. That means they are a built in audience to promote a business to.

Many have figured out means of dealing with the less than helpful aspects of social media communities. They worry about the potential damage to the company’s reputation, but sometimes overlook the marketing value of dealing with a valid complaint in a satisfactory way. While these are concerns are important, they are not overwhelming. Understanding some of the steps they take will contribute to a business’ social media success.

The key to avoiding any potential embarrassing scenarios is to understand that you can’t.  They’ll find you eventually. Dealing with them head on from a standpoint of empathy with a desire to correct the issue if possible is the most effective strategy.  Admitting there was an issue will garner respect, and making an earnest attempt to right what was wrong will create loyal followers.

As for dealing with issues of content, employees should be assigned the duties of monitoring inappropriate comments or activity. Many social networking sites have control functions for internal comment review prior to publishing. Instituting this function can certainly help safeguard the reputation of the company from internal mischief, and is certainly a far better strategy than simply opting to bow out of the world of social media altogether.

Remember, social media also provides a tremendously valuable function in an extremely cost-effective manner. Social media and networking is a tremendous resource for those companies looking to receive feedback from their customers. By clearly understanding the likes, dislikes, wants, and needs of the customer base, a business can make effective decisions regarding its promotional strategies and what type of products and services it offers. And, once again, this is achieved with very little in terms of cost. There will be a reduced need to hire the expensive market research company.

One of the most important aspects of succeeding in business is to have a knack for forecasting. When it comes to social media, it is clear that such online communities will continue to grow and expand in popularity. That is why ignoring the benefits of becoming involved with social media would not be a wise move on the part of any business. Become involved with this media in an effective and proactive manner is certainly advised to any serious business that wishes to stay competitive.

About the Author:

Ken Ivey, aka “the Web Czar” – wants to help you leverage technology to reach your goals.  Contact Ken for a free initial consultation to see how the web can work for you.

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