Harnessing the Power of Social Media for Business Development

HARNESSING THE POWER OF Social Media for Business Development

The early nineties saw the rise of internet usage, which provided commercial enterprises with a platform for global advertisement. Similarly, the dawn of social media resulted in significant change in the way businesses conducted themselves.

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Large companies such as IBM, Nestl, Capgemini and many more have harnessed the power of social media to connect with prospective clients around the globe. However, many corporations continue to limit the use of such mediums believing them to be a threat to employee productivity.



Giant social media platforms like Facebook, Twitter, and LinkedIn have proved time and again that they are a power to be reckoned with when it comes to online visibility. Utilising these platforms properly can result in innovative ways of promoting your business. In this article, we examine how social media can address the issues in the workplace as well as contribute to significant growth in your business:





PRODUCTIVITY

While social media has been perceived as the major culprit for low employee productivity, studies suggest that it is in fact a productivity booster. According to research and studies conducted by the public relations firm Burson-Marsteller, more than half of the Fortune 100 companies have Twitter accounts, of which two-thirds use their accounts for enhancing productivity levels through customer services.



Using social media to answer customer queries and receive feedback extends the reach of customer service and enables you to efficiently help your customers.





RECRUITMENT

LinkedIn has made it much simpler to expand your professional network. Not only is it one of the most trusted networks for establishing business connections but also one of the best sources for recruiting prospective employees. Studies conducted by experts at Deloitte indicate that many firms use LinkedIn in addition to their hiring procedures.





INNOVATION

Developing fresh and innovative ideas for promotions is an essential way to increase online publicity. Large companies are initiating different plans to identify and develop the talent in their teams. IBM has launched many such initiatives to improve their innovative efforts and look beyond the traditional methods of development.



One of these initiatives was the Innovation Jam, which was attended by its large base of employees, clients and associates. Social media can highly impact such initiatives as opinions and suggestions from different people and groups are considered. This can greatly aid in improving and launching different products and services.





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COLLABORATION

Collaboration has become an integral part for business growth. Face-to-face meetings are gradually declining as the main method of communication as teams spanning across geographical borders conduct virtual meetings.



As mentioned by Don Tapscott, the author of Grown Up Digital (McGraw-Hill, 2008), Social networks will become the new operating system of business. It is apparent that social media is a major game-changer and can accomplish certain tasks with greater ease than the traditional methods.





EMPLOYEE ALIGNMENT AND ENGAGEMENT

Employee engagement is crucial for business development. Allowing employees to use social media in the workplace to undertake responsibilities, share best practices and strategies, and access networks in real time regardless of their locations keeps them connected and can be a boon.





REPUTATION MANAGEMENT

With the widespread use of social media, reputation management at the organisational as well as individual level is a serious concern. People are free to anonymously post and malign brands or people, which can be negatively interpreted within the network. The fact remains that tapping into social networks is easily possible, hence the importance of branding on such networks today.





KNOWLEDGE MANAGEMENT

People with similar interests and thinking can share knowledge in creative ways with each other through blogs, wikis and many such tools on social media. Sharing expands the network as topics of various genres, both personal and professional, are discussed, linking and transferring knowledge across different organisational communities.



Knowing customers needs and desires helps in establishing trustworthy relations. Social media is an incredible marketing tool that assists in gaining a better understanding the needs of customers. Employing social media tactics that best suit you at your workplace may increase your business growth in leaps and bounds, and also encourage your employees to perform better.



For more, contact Synquis project management experts we will guide you in choosing the social media

platform that best suits your business needs.





Operations & Task Management Software

Get Free Trial

Link-OM helps to improve relationship between teams and customer by providing greater visibility

into operations and task management.



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Harnessing the Power of Social Media for Business Development