Social media gives both sellers and buyers an incredible tool in market exchanges today. Business owners, as well as potential consumers, can scan for sentiment, mood, reception, and more on every social media platform. For businesses to be able to directly see what their clients are saying, sharing, and liking on these platforms is unbelievable insight into conducting smarter business.
Before social media, businesses would predict what consumers wanted the following year. They would make inferences from past purchases, inventory, and small talk with customers in the store. Now, they can log onto their Facebook page, read comments, and look at who shared their post or picture. Facebook even provides you with a data breakdown of the shared and earned media on each post.
And, it’s all for free! Social media is the inexpensive best friend your business has been searching for all these years.
Social media is not the total end-all be-all; it’s still necessary to make smart business predictions for future costumer sentiment. But, there are dozens of free social media platforms available right now, with specific niche markets, which will permit you to directly interact with potential consumers. How big of a business blunder would it be to pass those interactions up?
There are too many businesses out there with no social media presence in 2016. And, most companies that do have a social media presence think it stops at Facebook. Facebook is only the gateway to the massively active world of social media.
Social media can be overwhelming, no doubt. It’s growing more compartmentalized and complex. But, it is indisputably the most important business tool of the future. Your business can’t wait another day to be on all major social media platforms. Get to know your customer’s likes and dislikes personally. Embrace social media.