As part of the modern digital landscape, social media has improved the interface between customers and businesses, creating a fabric of formal and informal communication that offers prime fuel for innovation.
The psyches, emotions and mentality of customers are laid bare for creatives on personalized social media exchanges, reducing the need to use classic ways of fishing for audience data, such as paper, phone calls, in-person meetings and even email.
By creating a strong and engaging social media footprint, companies have a front row seat to streams of information directly from their target markets to leverage in order to create something new, futuristic, edgy and ahead of the crowd.
#1 Building Audience Relationships
Sitting in a boardroom making plans to innovate by using ideas and feedback gathered by surveying locals or creating in-person focus groups is yesterday’s way of doing business. Social media makes knowing your audience and researching demographics much easier. Many followers eagerly respond to surveys and polls circulated in social traffic. The respondents can offer great detail and insight about how the public perceives and uses business products and services.
Social media allows modern businesses to attract global and constantly growing digital crowds to test and adapt brand messages, campaigns and offerings. Audience bonds built in social media tend to be raw, direct and honest, which makes them more useful.
#2 Turning Feedback Into Gold
Once a community is established in the social sphere, a company can harness the power of feedback. At its best, social media is organic, creative exchange from current customers or potential ones. Some of the most brilliant company ideas can be inspired or triggered by casual reflections made by those actually using the company’s products and services or aspiring to. Postings might be a 140-character when using twitter, but a novel piece of insight to an alert executive with the business acumen to capitalize on it. Read Also: How to Tweet or Post More than 140 Characters on Twitter
In nearly all facets of expansion and innovation, a company has grown and changed to meet the needs of the public because they listened to their niche audiences. Social media offers a faster, chapter and different way to get this insight — from a huge swath of people of all backgrounds that sputter ideas and feedback at lightning speed 24 hours a day/7 days a week. What can be done with such fuel? The possibilities are boundless. This type of digital brainstorming can constantly feed company experiments.
Managers might offer games and competitions to squeeze out the best performance and ideas from followers. The best ideas can be tested and analyzed before companies put resources behind exploring them and using them for new enterprises.
#3 Sales & Marketing
Social media is changing how companies acquire customers and make the big sale. An innovative trend is for companies to generate sales leads on Facebook, Twitter, Linked In and Pinterest. This forces a company to go beyond in-person meetings, direct mail and cold calling, which has been the paradigm for success in many offices. Faster than an email or snail mail campaign, cheaper than commercials and print ads, and more whimsical and laid back than phone calls, social media is a prospecting haven. The innovative ways businesses can decide to use these platforms are boundless.
The impact of having a product name or company name “trending” on Twitter can raise the profile of a brand and lead to successful product or business launches. Create viral media to spread company information in an amusing way.
#4 Match The Media To The Task
With so many social media options available and coming in the future, businesses must be shrewd and match the format of the media to their business goals and to the hangouts of their target audiences. Each social site has its own distinct attributes.
A place like LinkedIn might provide innovative grounds to find new hires and establish business relationships. Another site like pinterest might be best to serve companies products pictures while yet another venue might offer the best promotional value.
Because social media is not one size fits all, companies have flexibility to pick and choose the best options.
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