Does The Reach Of Social Media Transcend Business Value Beyond Marketing?
There is no denying the fact that social media has not only touched people’s lives but also fundamentally changed the way information is being created, shared, and consumed. The level of interaction and communication that ensued following the growing popularity of social media platforms is simply remarkable.
Today, the significant rise of social media has given the term “interconnectedness” a new definition. One and a half decade ago, it would have been an outlandish idea to even think of being connected like this. Cut to 2018, suddenly everyone seems to be part of larger or smaller social networks. People or institutions with varying interests are coming together, collaborating, forming alliances and bringing a change in one way or the other. In fact, every single individual is now an instrument of change in his or her own capacity. This is what the power and reach of social media are.
For the past few years, social media has been extensively used as a powerful marketing tool by businesses; which they did it successfully. But organizations have begun to realize the power of integrating social media strategies into other parts of the business. Given the growing penetration of social media on a day-to-day basis, businesses can inform and improve efforts cutting across the organization – right from R&D and project development all the way to recruitment and retention. In light of this insight, Hootsuite – one of the leaders in social media management – came up with a report titled “Social Media Barometer Report”. According to this survey, 87% of global businesses see social media as critical as business value expands beyond marketing. The report further suggests businesses are eyeing towards leveraging social media and gaining a competitive advantage to drive value across the organization.
Therefore, this scenario begs a pertinent question: Can the business value of social media be extended beyond marketing?
Let’s find out:
Social Media Wall
Beyond marketing and sales, companies are adopting a new technique to use social media in an effective way – social media wall. It’s alive or aggregated (and usually filtered) feed of social posts from sites like Twitter, Instagram, and Facebook that are displayed on any digital signage display. An effective social wall can be extremely useful for internal communication in an organization. It can be displayed during events, conferences, etc. on a digital screen. With the help of popular hashtags, social media feeds will collect user-generated content for the wall. In addition to these feeds, a company’s social media wall will require more visual elements during events and conferences. This is where tools like Bannersnack can be used to create fully responsive banners that will look perfect on all screen sizes, on any device. It’s a great way to create layouts for various social media platforms including Facebook, Instagram, YouTube or Twitter. The social media wall will also help increase employee and employer participation in a company. From mom-and-pops to franchises and corporations, all kinds of businesses can use digital signage software to power their social media walls.
Empowering Human Resources
When it comes to mapping HR with social media, LinkedIn seems the obvious connection. Many HR departments are already using LinkedIn as an effective recruiting medium, but it can also be used for a variety of other purposes, such as connecting former co-workers, current clients, local entrepreneurs, and even friends and family. Not just LinkedIn, even other social channels can be used to easily share job opportunities personally as well as professionally. HR reps can also use social media as a potent tool to determine the benefits and perks for targeted talents in order to attract them. Facebook is the most popular digital platform, it’s a perfect place for personal profiles and marketing pages. Posting job postings on Facebook ads can give businesses a huge advantage of pushing their message to a specific demographic.
A Potent Market Research Tool
The growing efficacy of social media has landed it as an effective market research tool. There are two types of the approach of doing this. First, social media monitoring for gathering intelligence regarding company, products, services, competitors, or industry, it includes listening to online conversations about certain topics the prospects might be talking about. This competitive intelligence would be crucial for decision making. The second approach is to openly participate in conversations on social media, building relationships, and connecting with actual customers. It might include making a list of product/service feedback checklists to ask of consumers. These two scenarios neither require big bucks nor a high level of scientific testing. Facebook and Instagram are tailor-made for market research. Using Facebook, companies can target their ads based on age, interests, device usage, and even purchase behavior. Instagram, on the other hand, has a directory of users from across the world.
Customer onboarding is the process of training customers to use a particular product or service. Its primary aim is to simplify the learning process and help customers understand the customer value. As a result, customers not only get satisfied, but the chances of competitors poaching the customers are reduced. Social media is highly effective in making customer onboarding seamless and efficient, which is why businesses no longer have to invest time and money in interacting with customers face-to-face. Examples are video-based conferencing, webinars over YouTube, and messenger platforms.