How Businesses Benefit from Social Media and Web Presence
For the majority of human history, businesses have had to compete with one another using a variety of different tactics. For the most part, however, these tactics were localized and did not involve global competition or market share – the internet has since changed this. In the past decade or so, the vast majority of businesses have sought to establish some form of online presence in order to reach a broader audience and increase revenues. Unfortunately, some businesses still do not understand the inherent value that their presence on the web and social media can provide. Below, we will discuss the main benefits that web presence can offer any business.
This seems like a no-brainer: the more places in which your company is present, the more opportunities there will be for future business and customer relationships. By having an established website that is pinging URLs to search engines, you will be more likely to gain attention from both local and worldwide audiences. Proper search engine optimization tactics are necessary in order to gain maximum benefit, but even a small business that is just starting out will gain additional attention by virtue of simply having a social media or web presence.
Particularly when connected to social media, a solid web presence allows your business to interact with fellow customers and receive input on your products and services. In many cases, the traditional “here’s a card – please fill it out and let us know how we’re doing” has never been an excellent strategy, but it was all that was available in the past. Now, however, users can interact with your brand via the web 24/7 and provide compliments, criticism or advice. While some may feel initially weary of the judgement that may come from online customers, many businesses quickly realize that it is only indicative of their company’s performance – and what better way to improve performance than by listening?
While free advertising is also a benefit of having an online presence for your business, those who wish to expand their advertising potential will quickly realize that online advertising is far, far cheaper than advertising through traditional media outlets. In many cases, businesses can make 1,000 targeted impressions via social media for less than twenty-five cents: if you wanted to print 1,000 business cards, 1,000 flyers or reach 1,000 people via local newspapers, then your cost would be anywhere from tens to thousands of times as much. While web advertising does have some drawbacks when compared to traditional advertising, the affordability more than makes up for any loss in efficiency.
Many businesses do not establish an online presence because they feel that their business is too specific or localized. The reality is that the web allows businesses to continue pinging URLs to their website and expand their field of operation to reach niche audiences from all across the world. A trading card business in Peoria, Illinois for instance may have dozens of items desired by collectors in various countries – why would they not attempt to reach this audience? The internet and social media provide niche businesses with a platform to expand their reach and increase revenues by finding more like-minded customers.