Taking full advantage of social media
THE world is at our fingertips. Through Facebook, Instagram, Twitter, TikTok, YouTube and more, it is easy to connect with people across cities as well as borders. The use of social media is rapidly growing all over the world.
An analysis by Kepios, an advisory firm that enables organizations to understand how to use digital technologies to improve success, showed that there were 92.05 million social media users in the Philippines as of January 2022. The number was equivalent to 82.4 percent of the population (111.8 million). Social media users in the country, meanwhile, increased by 3.1 million (+3.4 percent) between 2021 and 2022.
Imagine, as a business entrepreneur, the number of potential customers who could be reached through social media platforms. Why not take full use of social media to expand the business? Target customers can be found there.
The use of social media offers many advantages
and are some reasons why businesses need to be on social media:
INCREASED INBOUND TRAFfiC. Utilizing social media as part of marketing strategy will help in expanding beyond loyal customers. Though social media, inbound traffic will not be limited to usual customer. Creating a website or a page for business where customers can leave comments or give ratings allows a brand to attract and connect to a larger number of new and potential customers.
Customer engagement. Businesses need to create a bond of trust with customers. Social media provides new way to connect and engage with customers. Interacting with them helps businesses identify their needs, interests, concerns, and most especially what satisfies them. Customer satisfaction rests at the heart of every successful business. Creating strong customer bonds will further promote the business.
Reputation management. Online reputation is important. It determines how others perceive the business itself when they search for it online. Maintaining the image of business is also very important. Undesirable comments and reports can easily ruin a business’ image. Maintain a good reputation and strong image by keeping a strong and unwavering social media presence. Reply to negative comments politely and professionally and maintain the image of excellent customer service that an ideal business should have.
Marketing research. Social media can be a source of market research
material. This can be done by conducting polls or asking questions directly, encouraging customers to share thoughts, feedback and reviews about products or services. Competitors also use social media so it is important to also evaluate their social media activities. Monitoring customer opinions will be helpful in planning and improving business strategies.
Reduced advertising expenses. Social media marketing is cheap yet effective way to market business. It is free to create social media profiles. Time and the resources a company needs to put on social media accounts are the real costs. Compared to traditional advertising — television, radio, and printed tarpaulin and banners, etc. — social media marketing costs less. You can save on advertising budgets using social media marketing, which can reach not just local customers but also a global audience.
Social media plays a vital role in the success of every business today. It’s important to have a prominent online presence on various social media platforms. Find out which social media platform the target market uses most frequently and take full advantage of it. Go beyond the limits, expand horizons, establish strong connections and create more loyal customers for a successful business.
Ken John B. Asadon, CPA, CTT is the corporate registration and compliance partner of Paguio, Dumayas & Associates, CPAs (PrimeGlobal Philippines), an institutional member of the Association of CPAs in Public Practice (Acpapp). His opinion does not reflect in any way those of these institutions.