If you are wondering what social media is, it basically refers to the use of web based and mobile technologies to turn communication into an interactive dialogue. Many firms in the market today need to embrace this trend in technology, mainly because it is cheaper and feedback is not delayed. Social media can take on many different forums, such as web blogs, internet forums, and micro blogs. Examples of social media are the likes of you tube, twitter, Facebook, and many others.
How will they benefit from this? Apart from relatively cheaper advertising, social media could use this to place promotions over social networking sites. For instance, a firm could have a fun page on Facebook and place available promotions. Also, because of the interactive nature of social networks, a firm can use this to their advantage to manage their reputation. By this they keep an eye on conversations going on and respond to them. Social media can also be used to collect feedback or suggestion to a firm on their products or services, or how the firm should operate in favor of its consumers. Social media is also decentralized, therefore, it lays a foundation for globalization and publicity of a firm.
These are just a few ways a firm can use social media. It is appropriate for marketing and publicity. Many companies have gone online in Kenya, therefore, the use of social media is just an icing on the cake. Also, consumers are now purchasing commodities online. Therefore, the companies are able to attract vast markets. Because of its utility, social media is accessible to anyone, and easy to use. It is also available to the public with little or no cost. To sum up, the greatest and most productive way a firm can use social media is by managing their reputation. Consumers can air complaints, offer suggestions and feedback freely without feeling intimidated.
References:
Social Media
7 Rules of Social Media and Creating Trust Around Your Brand
Jijuze 