Top 5 ways your company can benefit from social media

Social network is a buzzword around the Houston Business Journal offices nowadays as our Social Madness competition warms up and as we continue to enhance the newsroom's online existence.

Social Madness encourages regional businesses to step up their social media video game and get people engaged with their companies, starting with a Houston-only competitors that will send out 3 finalists from our area into a national occasion.

I'm often asked why social media matters, and how something relatively so ambiguous to some people can be so important.

Social media assists improve all the fundamental pillars of good business, such as engaging with the public, transforming on-the-fence observers into revenue-generating customers, and resolving client service concerns.

Here are 5 of the biggest advantages to social networks:

1. Customer engagement. A simple search on a social networks site is the best start. If you're attempting to introduce your company, a search can help you discover a community of individuals interested in your field. If individuals are already discussing your brand, you can participate in the conversation. If the conversation is positive, present a call to action to encourage individuals to purchase. If you hear a negative remark, fend off those prospective hazards by setting the record straight. The best part? Social media is conversational in nature, so individuals wish to talk. Connect, and you'll be pleased with the results.

2. Earnings development. Social network broadens your direct exposure, increases traffic to your site, creates interest in what you offer, and offers you the chance to offer promotions or specials to seal the deal. The social networks website Pinterest is an excellent example of how social networks can help you fulfill earnings goals. According to information from Emily Carr University of Art and Design pointed out in the Harvard Business Review, nearly 1 in 5 Pinterest users "pin" something they later on purchase online. Information from shopify.com found that buyers referred to an online site from Pinterest are 10 percent most likely to purchase.

However not simply retailers can benefit from social media. Have a look at American Express's material marketing here project, Open Forum. AmEx developed an online neighborhood of articles and resources for business owners, sponsored by the brand but not directly offering anything. The objective is to supply a service then establish commitment that will move to other business deals.

3. Building loyalty. Consumers are most likely to stick with your brand name if they trust you. Social network can boost this. If you can show that your business lives by its values, people with the same values will respond-- and those photos of your office Halloween website party play a role, giving a glimpse of your personality to make your company stand out.

Social network enhances the relationship with clients by establishing open lines of communication. If a customer tweets a question or complaint about a brand and is immediately answered, that actually strengthens the bond with the brand name. Exist in the discussion and consumers will value it.

4. Idea management. You can get in touch with your fans and fans, and fulfill brand-new ones, by dumping the salesmanship and participating in an intellectual discussion about your area of knowledge. Franklin Templeton Investments is a good example of a company using Facebook advantageously. The company's Facebook page posts important bits like real-time market updates, quotes from Benjamin Franklin and connect to longer post composed by investors. Not every post directly involves the trading of bonds or stocks, however by offering insight to financiers, a firm can demonstrate that it knows exactly what it's speaking about, and individuals may consider doing business with it the next time.

5. Search engine optimization. As much as word-of-mouth works, many people go straight to Google to look for exactly what they need. Having active accounts on various social media sites can assist put your company higher in page rankings and more likely to appear in a search.

Think you're ready to get started? Think you need assist boosting what you already have? Hope you'll look for my continuing series of posts about how best to get going on various social media websites.

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