Concept of Social Business
Posted by Grach
Social Business Model and Theories.
Social media is a powerful tool where people can socialise and communicate through a keyboard or mobile. But now businesses seem to have jumped on the band wagon as a way of promoting their brand or product. It seems like an easy and cost-effective way of promoting, seeing as social platforms such as Facebook, Twitter, and blogs all are free and many people interact with them. But can a business really just set up a page or account and see their profits rise?
Unfortunately this is not always the case. Social media is a crucial way to growth for companies and brand but in order to increase traffic, these businesses need to understand their audiences. It would seem insane to pitch a product such as a pension plan to a 16-year-old, it is important to listen to what your target audience wants and needs. Businesses do not just need a “just do it approach” to social media but a “make a difference” approach that will let the customers know that their business cares what the user has to say. For example if a company sets up a fantastic designed website with a Facebook page and Twitter account or even a blog, and a customer has a complaint about your service or product and uses these platforms to communicate these complaints, it is important to address these concerns as they arise. The hard work isn’t the designing or development of the social media for your company but trying to provide the information needed by your customers. These social media platforms can be seen as a customer service where customer’s complaints and queries can be answered. The quicker the reply and solution to the problem the happier and more trusting the consumer are of your brand. You need to engage with your audience.
A company who specialises in social business, and provides help for companies that use social media to their advantage, is Sproutsocial, a social media tool used to help businesses engage with their audiences and “get real value from their social efforts”. Using many different networks such as LinkedIn, foursquare and Gowalla, along with Facebook pages and twitter, this application helps focus in on what and where the companies need to engage more or less with their audience. There is also a mobile app to help keep up to date with the conversations and help monitor your brand on the go. Sproutsocial see themselves as a social media management tool, which focuses on four components of social media effectiveness; monitoring, engagement, measurement and growth.
It is all very well setting up a Facebook page or a twitter account to promote your services or product but if you stop the development of your company in the social domain there, there is no hope for your company’s growth to increase. The engagement of your audience is crucial to the increase of interaction. For example is you respond to a comment or article about your company’s service or product the development of trust and respect is given which in turn can lead to word or mouth marketing, which in turn leads to more interaction with your company.