Social Media Networks

Build a better understanding of social media networks and the effects they have on/within the workplace

Can Twitter Be Used Effectively for Business?

Social media has brought rapid change to the business industry due to the massive interaction of consumers with these sites. The widespread utilization of social media networks by billions has created a highly effective platform for business owners to market their businesses. Through social networks, companies can increase product and brand awareness, web traffic, customer loyalty, and the overall success of new product launches. In particular, Twitter provides an efficacious platform for businesses to utilize in global marketing and communication.

 

In March of 2006, Twitter was founded by Jack Dorsey and launched a few months later. With an estimated 500 million people utilizing the highly popular social media network, over 58 million microblogging “tweets” are sent per day. Marketing on social network sites offers the opportunity for awareness of businesses by advancing ones products and brand. By creating a group or organizing a promotion on social networking sites, the members of the sites are reminded of the brand and website with continuous interaction. By participating in Twitter, companies can present and develop the kind of image that attracts potential customers, and refine their specific brand. Since people follow who they desire on Twitter and thus discern what information they wish to receive, the messages and information from companies are positively received. In fact, an independent research study done by the Chadwick Martin Bailey Consumer Pulse found that 75% of consumers have never “un-followed” a brand on Twitter.

 

One of the main goals of businesses is to attract consumers, and social media offers the opportunity to do so. Postings on social networking sites often contain web links, and if a company is mentioned with a link included, they can drive traffic to business web sites. This can cause brand awareness. Specifically, this can be offered through Twitter by posting links that help people learn about one’s business and increase click through rates.

 

Increasing customer loyalty can be seen as one of the main goals of a company. Social networks offer the opportunity for growth in this area due to the means by which promotion of the company as a whole is handled. When a company provides consistent participation through social media networks and provides useful information while keeping a personal interaction with consumers, a business ultimately expels a better image as a whole. Twitter provides a great means for this to occur due to the engagement it presents with customers. Posting specified content about products along with services and offering the chance to learn about customers by means of what they like and dislike about the company, what they feel about the brand, how there is room for improvement, and other data all benefit companies. This personalized interaction facilitates customer loyalty, and ultimately leads to higher rates of success. The Chadwick Martin Bailey Consumer Pulse research study states that 50% of brand followers are more likely to buy from a brand after following it on Twitter.

 

Finally, Twitter offers companies the ability to garner data on what their consumers desire in regards to products and services launches. Due to the fact that people follow what they desire on Twitter, specified information is readily available. After all, 79% of consumers on Twitter follow fewer than 10 brands. Tandem to this, offering customers the ability to convey what they want can increase loyalty and guarantee success. Users share opinions readily and make recommendations on social networking sites, and consumers often seek these opinions when searching what to purchase. 60% of brand followers are more likely to recommend a brand to a friend after following it on Twitter.Overall, Twitter offers a unique opportunity for businesses to engage consumers in connecting with their brand. The interactive content offered by companies on Twitter presents as positive marketing and creates connections which bolster sales and customer loyalty. The emergence of Twitter as an efficient marketing strategy continues to demonstrate its reaching potential as a highly effective business tool.

 

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