We are living in the 21st century when everyone is connected through the internet. The internet is a vast network of people, from different parts of the world, coming together and connecting globally. The internet has become the medium for showcasing ideas for many and also a medium for entertaining oneself. But most importantly the internet has become a medium of communication. Social media on internet consists of a platform where different Individuals can connect with each other. It is called social networking. Some examples of social networks are Facebook, Twitter, Instagram, YouTube, Google+, Whatsapp, etc.. Social media is mostly used for marketing purposes in businesses.
Social media can be used for the following purposes.
- To promote name of the business or create a brand image
- To tell potential customers about the goods and services provided by the business
- To find out what customers think about the business and whether they support it
- To attract new consumers and build strong bonds with existing consumers.
- To find out market trends
Benefits of Using Social Networks
- Broader reach: Through social media a business can reach over millions, if not billions of people. By this the business can expand its horizons globally.
- Lower cost: Marketing and advertising costs is the cheapest in social media. It is a free platform to promote your own business and is the cheapest for advertisement costs.
- Saves Time: In a sense it saves time as ads don’t need to be printed and distributed. Promotion can be done quickly through the click of a button and it will reach more people than through any other medium.
- Easy: It is the easiest platform to promote your business. It can be done while sitting at home too!
A business must take up this opportunity of being able to connect with millions of people and promote itself. It not only benefits the business, but also the consumers by providing them material information about the goods and services as per the consumer’s right to know the information. Consumers become aware of the latest products through social media and get a wide variety to choose from.
So strike while the iron is still hot and start promoting your business through social media. It can give a major quantitative as well as qualitative boost to your business.