How helpful is social media for business?

Discussion in 'Social Media for Business' started by marcus47, Jun 6, 2013.

  1. anna c

    anna c
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    Very helpful especially if you are going for building awareness of your service or if you have any new offering. It is also good for building a community of engaged users who are interested in your offerings. Facebook groups and LinkedIn communities have personally been great in connecting with like-minded individuals and getting advice from industry experts.
     
  2. fisicx

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    @anna c those arguments are rolled out again again on many fora and are wrong in 99.9% of all cases. Social Media is very poor for building awareness and just as poor at engaging users. Linkedin is just one big recruitment directory now, finding anything useful in all the posted dross is almost impossible.

    Social Media works very well in a niche if you are engaging with people who don't have a lot of friends. It's not worth bothering with Linkedin.
     
  3. anna c

    anna c
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    Care to share where you got that interesting stat?
     
  4. fisicx

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    Google. There are loads and loads of academic papers discussing the use of community websites to promote a business - and the general conclusion is unless you have a niche or local products or services the ROI is poor.

    So if you are selling hello kitty merchandise facebook can work but linkedin won't. If you are selling concrete mixers neither will be of much use.
     
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  5. Joseph.Shivell

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    What keywords did you use in your search? I'd like to check it out myself, and see how accurate your "99.9%" figure actually is, and how authoritative these academic papers actually are.
     
  6. fisicx

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    99.9% is used figuratively to illustrate the ineffectiveness of community based marketing.

    When was the last time you brought something as a result of something you saw on a SM website or engaged the services of someone you found on Linkedin? Consider the thousands of companies marketing on these sites and it's easy to see why their reach is narrow. Most of the time, even if you are targeted, the posts will be filtered out so you don't even see them. Adverts can do a little better but even then the ROI is poor unless (as I have already said) the product is niche.

    This is typical of the searches I do:

    https://scholar.google.co.uk/scholar?q=market+research+social+media+effectiveness+statistics

    I pay for market research and I read a lot - probably 20-30 articles per day. So what I post here is an amalgam of a lot of material.
     
  7. geeksonrepair

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    Social media is the best way for product awareness, brand promotion and also to get target people.
    Many businesses use social media sites like Facebook,Twitter,Google plus to promote their business.
    Facebook ads are very popular for product promotion.
    But you will have to make relevant followers and friends on these social media sites for good results.
     
  8. anna c

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    The question was how helpful social media platforms are for business and I answered 'very helpful' because it's true. I said Linkedin and Facebook worked well for me personally because I get 80% of my clients from my social media presence especially on LinkedIn.I used to be a strategist for a digital media firm where I handled social media accounts of both big corporations and small business and track their conversions. So I can attest to the effectiveness of social media when the right strategy is executed. And when was the last time I bought something I saw on SM? I'm a Millenial and almost everyone my age that I know of shop online. If you don't think social media is helpful for your business based on 'market research and reading 30 articles a day', that's fine.
     
  9. geeksonrepair

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    Social media is the best way to promote your business. Now a days many businesses use social media site for product awareness, target relevant people.
    But while using these sites you should make relevant friends and followers. This will help to increase website traffic.
     
  10. fisicx

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    My question was: when was the last time you brought something as a result of something you saw on a SM site. Like you I buy loads of things online, but I don't go to Facebook to find a supplier of cheap socks.

    What is a Millenial? Is is some sort of a subset of Hipster?

    No it doesn't. This is a complete myth.
     
  11. anna c

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    Facebook and Instagram have a lot of solopreneurs/small-time business owners selling items that could not be bought on other big ecommerce sites or malls, in case you don't know. And when I say I shop online, it includes Facebook and Instagram.

    What's a Millenial? I'm sure you can Google, conduct market research and read 30 articles on what it means. ;)
     
  12. fisicx

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    Exactly! That's what I've been saying - SMM works great in a niche.

    I was being a bit tongue in cheek when I asked what a millenial is. It seems to be a nebulous thing with no fixed start or end point but I'm not so sure that they can be considered these days to be any different in their use of technology to any other group.
     
  13. addialex

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    Social media play a important role to boost your business ,you can promote your service for that you have to share unique content with high quality image on social media.google plus,twitter .
     
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  14. Joseph.Shivell

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    Please let's try to be respectful to the members here. Fisicx, I have told you about this before. Anna, I saw your emoji (I think that's what they call them now), so I realize you were joking, but when someone does this, don't encourage them. I am a "Baby Boomer". I searched on Google, and actually got a definition on the results page:
    For fisicx's benefit, I also searched the phrases "What is a Millenial" and "What is a Hipter". This I part of the definition of "Millenial" I found on Google, as defined by Wikipedia:

    A Hipster is:

    Based on what I found, I suppose a Millenial could be a Hipster, but a Hipster is not necessarily a Millenial. To answer the original question, no, Millenial is not a subset of Hipster.

    Getting back to the subject of the thread, I recognize that as technology advances, there will be those who are more familiar with it, and will therefore use it more than others. As a Millenial, anna's generation will be more likely to use social media than someone from an older generation. I have a 10 year old grandniece who uses an electronic tablet to play games. When I was ten years old, we had games that include pieces that had to be physically moved around a cardboard surface, and our "Tablets" were made of paper. When I first got involved with computers, the computer took up an entire room, and disk drives were bigger than under-counter refrigerators (which, now that I think about it, didn't exist at the time). Mark Zuckerburg wasn't even born yet.
    When determining whether a company should have a social media account, one has to take into consideration who is likely to have an interest in their product or service. If their intended audience is likely to be on social media, they should consider being there as well. Except for actual ads, however, the primary purpose of social media is not to sell, but to provide pertinent and helpful information about the companies type of product or service, presenting themselves as an expert in their area of expertise. Their followers can then spread the word to their followers, who may be looking for that company's product or service. Since they are not directly selling, it is harder to quantify the effectiveness of social media, but the principle of "go where your customers are" still applies.
     
  15. fisicx

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    I'm British. Our sense if humour is somewhat different to other countries. As I said in my subsequent post - it was a tongue in cheek comment.
     
  16. BA

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    I have to say I completely agree with fisicx here. Social media is good for certain niche items but to say it works for everything just isn't true. You don't typically buy items from social media that you can pick up on Amazon or other major store. Can you make a sale sometimes? Probably. Did you lose a lot of time and/or money to get the sale. Most likely. Also, the organic reach of Facebook posts is terrible now compared to what it was a few years ago.

    Facebook is best suited for selling experiences and custom items you can't find anywhere else. The more unique and customized the item/event the better. I have never read a book or taken a course that says anything other than that.

    And BTW. I have never thought of going shopping and logged into Facebook.


     
  17. Joseph.Shivell

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    Because this is a written medium, and not spoken, intent may not be apparent based on the words. Even though someone may not wish to be offensive, the words they use can be interpreted that way. You can use a "Smiley" to make your intention more apparent, as anna did, but even that may not be interpreted the same by every person. And, of course, you cannot satisfy everybody, and there could be some who will be offended no matter what you do. But if you at least make the attempt, your intent will be more apparent.

    I have never bought anything through Facebook either. But, I refer you back to my previous post:

    Let's say, for example, I was looking for a pair of socks. I wouldn't go directly to Facebook to buy them. But, in a conversation with a friend or relative, I may mention that I am always replacing my socks because the ones I have wear out too fast. My friend or relative happens to be a follower of a high-quality clothing store, and mentions them to me. I then go to their website, and order some socks. The sale did not come directly from Facebook, but if they were not on Facebook, they would not have gotten the sale - and maybe quite a few others as well.
    A well-known soft drink company decided not to advertise on the Super Bowl, where some people watch the game not because they like football, but because of the commercials. Where did they go instead? Social Media!
     
  18. anna c

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    Again, to stay on-topic, the question was whether or not social media is useful to business and my answer remains to be yes, it is. There are many objectives for businesses to establish a presence on social media other than direct sales - building awareness, branding, customer service, building a community, connecting with loyal customers, PR, research are just a few. And on top of everything, social media marketing can cost nothing at all if you are doing it right. I did not mention social media works for everything, again, strategy is vital. Choosing which social platform will work best for your business - not just Facebook. Both established companies and small businesses can benefit from social media.
     
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  19. w3web

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    Social media can be helpful if you are so patient, you need to share quality of posts , then you can significantly gain in the long run. But apart from social media sites, there are other sources like guest posting, email and video marketing also which are the best sources to give you more business deals. So it is better to knock the doors of every opportunity than relying on some stuff.
     
  20. AGTS India

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    I think...
    Social Media Marketing is the process of gaining website traffic or attention through social media sites.
    SMM helps a company get direct feedback from customers (and potential customers) while making the company seem more personable.
    The interactive parts of social media give customers the opportunity to ask questions or voice complaints and feel they are being heard.
    This aspect of SMM is called social customer relationship management (social CRM).
     

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