Harnessing the Power of Social Media for Business Development

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HARNESSING THE POWER OF Social Media for
Business Development
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The early nineties saw the rise of internet
usage, which provided commercial enterprises with
a platform for global advertisement. Similarly,
the dawn of social media resulted in significant
change in the way businesses conducted
themselves.
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Large companies such as IBM, Nestlé, Capgemini
and many more have harnessed the power of social
media to connect with prospective clients around
the globe. However, many corporations continue to
limit the use of such mediums believing them to
be a threat to employee productivity.
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Giant social media platforms like Facebook,
Twitter, and LinkedIn have proved time and again
that they are a power to be reckoned with when it
comes to online visibility. Utilising these
platforms properly can result in innovative ways
of promoting your business. In this article, we
examine how social media can address the issues
in the workplace as well as contribute to
significant growth in your business
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PRODUCTIVITY
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While social media has been perceived as the
major culprit for low employee productivity,
studies suggest that it is in fact a productivity
booster. According to research and studies
conducted by the public relations firm
Burson-Marsteller, more than half of the Fortune
100 companies have Twitter accounts, of which
two-thirds use their accounts for enhancing
productivity levels through customer services.
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Using social media to answer customer queries and
receive feedback extends the reach of customer
service and enables you to efficiently help your
customers.
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RECRUITMENT
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LinkedIn has made it much simpler to expand your
professional network. Not only is it one of the
most trusted networks for establishing business
connections but also one of the best sources for
recruiting prospective employees. Studies
conducted by experts at Deloitte indicate that
many firms use LinkedIn in addition to their
hiring procedures.
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INNOVATION
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Developing fresh and innovative ideas for
promotions is an essential way to increase online
publicity. Large companies are initiating
different plans to identify and develop the
talent in their teams. IBM has launched many such
initiatives to improve their innovative efforts
and look beyond the traditional methods of
development.
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One of these initiatives was the Innovation
Jam, which was attended by its large base of
employees, clients and associates. Social media
can highly impact such initiatives as opinions
and suggestions from different people and groups
are considered. This can greatly aid in improving
and launching different products and services.
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Link-OM helps to improve relationship between
teams and customer by providing greater
visibility into operations and task management.
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COLLABORATION
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Collaboration has become an integral part for
business growth. Face-to-face meetings are
gradually declining as the main method of
communication as teams spanning across
geographical borders conduct virtual meetings.
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As mentioned by Don Tapscott, the author of Grown
Up Digital (McGraw-Hill, 2008), Social networks
will become the new operating system of
business. It is apparent that social media is a
major game-changer and can accomplish certain
tasks with greater ease than the traditional
methods.
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EMPLOYEE ALIGNMENT AND ENGAGEMENT
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Employee engagement is crucial for business
development. Allowing employees to use social
media in the workplace to undertake
responsibilities, share best practices and
strategies, and access networks in real time
regardless of their locations keeps them
connected and can be a boon.
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REPUTATION MANAGEMENT
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With the widespread use of social media,
reputation management at the organisational as
well as individual level is a serious concern.
People are free to anonymously post and malign
brands or people, which can be negatively
interpreted within the network. The fact remains
that tapping into social networks is easily
possible, hence the importance of branding on
such networks today.
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KNOWLEDGE MANAGEMENT
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People with similar interests and thinking can
share knowledge in creative ways with each other
through blogs, wikis and many such tools on
social media. Sharing expands the network as
topics of various genres, both personal and
professional, are discussed, linking and
transferring knowledge across different
organisational communities.
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Knowing customers needs and desires helps in
establishing trustworthy relations. Social media
is an incredible marketing tool that assists in
gaining a better understanding the needs of
customers. Employing social media tactics that
best suit you at your workplace may increase your
business growth in leaps and bounds, and also
encourage your employees to perform better.
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For more, contact Synquis project management
experts we will guide you in choosing the
social media platform that best suits your
business needs.
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Link-OM helps to improve relationship between
teams and customer by providing greater
visibility into operations and task management.
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