News, Insights and Stories from the Australian and New Zealand tech ecosystem.

Value of Social Media shines Brightly for Business

 

How does a company measure social media marketing ROI?

Can your business justify hiring a social media management agency?

You might be surprised how many different ways there are to answer these questions and how many ways there are to determine the indirect and direct value of social media for small to medium-sized businesses.

And while many owners are still contemplating the benefits of Facebook for business, there are others who are diving into social networking headfirst without a full understanding of what they are attempting to accomplish.  Unfortunately, the latter can lead todamagingresults to your brand.  The following information – although it is just the tip of the iceberg – will help you see how Facebook is a valuable resource for SMEs in Australia.  It will also give you a few examples of how you can implement social networking in your business.

Staking your claim in the online world can be an uphill battle if you do not produce regular, valuable online content.  Many companies turn to search engine optimisation companies for help.  This can be too costly to the small business owner who has a small marketing budget.  We have good news for you.  Social networks like Facebook, Twitter, LinkedIn and Pinterest are free and effective ways to improve search engine results and drive traffic to your websites.  In fact, Pinterestdrovemoretraffic to websites than Yahoo and Bing in August 2012 according to data from Shareaholic.

Besides traffic generation and seo, the value of social media also shines through in customer service.  Many small businesses utilise Twitter and Facebook as a first point of contact with a customer who has a question about or a problem with their products and services.  Using social media as a customer service tool can cut down on costs and speed up the time it takes to answer a question or solve a problem.  And when you treat your customers well and take care of issues immediately, the news will spread fast on social networking sites giving you an added marketing benefit.

The last point of emphasis we will touch on in this article has to do with market research.  Gone are the days of costly market research studies.  In today’s business world, social media is a valuable tool for learning about your brand, your customers and your competitors.  All the data you need is just a few clicks away.  The amount of market research might be overwhelming.  However, there are social marketing tools to help you correlate and make sense of the data.

As you can see from the information above, the value of social media is much more than just its direct relation to your sales and profits.  In fact, social networking may just produce a bigger impact on your bottom line in an indirect manner.  If you are looking for advice and guidance, social media management agencies can help you make the most effective use of tools like Twitter and Facebook for business.  Once you see the overall results and ROI, you’ll never question the value of social media again.

 

 





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