Excessive use of online social networking in the workplace can have a negative impact on productivity. But, this modern way of reaching and gathering people can be a wise business tool in improving the way of doing business. The marketing departments of companies and businesses should be wise enough to recognize the great value of utilizing the social media in the way they promote and advertise their products and services. Even other departments such as logistics, procurement and human resources recruitment can tap into the vast resources offered by these networking sites.
Businesses of all sizes across all industries have been affected by the economic slump experienced in various parts of the world. Budgets have been cut and are being rationalized in order to ensure that dollars and cents are being spent wisely in the areas that bring the most profits. In a lot of companies, advertising budgets are being sacrificed in favor of other operational costs that are deemed to be more important in keeping the companies up and running. Fortunately for these companies, the online social networking sites present a less costly way of advertising and promoting their products and services. The beauty of these networking sites is that they allow companies to reach more of their target market segments with the least amount of money.
What propels the advertising in online social networking is word of mouth. Word of mouth advertising in the conventional sense turns people into spokespersons for the brands that they find interesting and useful in their everyday lives. In social networking, the same principle holds true when people talk about products and services online and spread the word to friends, family members, and contacts in their networks. It has been proven that the more interesting the products and services are the more people on the social networking sites talk about them. But, the story does not end there. Online marketers should be able to craft interesting messages about their brands in order to get the most mileage. The interest of their audiences has to be sustained in order to keep the conversations going. With all the different types of messages that these audiences receive everyday, marketers should make sure that their own messages about their brands are not drowned out.
The use of these online social networking sites in strategic marketing communications is as modern as you can get, but the old marketing principles of giving customers more value still hold true. Any company marketing their products and services online should still make sure that their customers see value in their offerings on various levels. Since online marketing requires less monetary investments, companies can re-allocate some budget to make their products more affordable. The additional savings from advertising expenses may also be diverted to promotional activities online. However, they should also be able to create enough excitement through their promotions to sustain interest. More exciting prizes and incentives can be offered to audiences that will draw them to activities online and consequently to make them patronize products and services.
Another business-wise way to make use of these social networking sites is to find the right contacts and the right resources that businesses could partner with. These networks could be leveraged to form profitable alliances and synergies among businesses online. Affiliate marketing is one profitable way of partnering that has spurred the interest of many businesses as a way of expanding their distribution lines. Finding people who are interested in being affiliates is made easier with social networking sites. Likewise, affiliates can find buckets of their target market segments through social networking sites. Businesses and their affiliate marketers can also link to their social networking sites in order to gather their existing and prospective customers. This should get them talking about their products and services in a way that would prompt more revenues.
Turning a blind eye to the various ways that these social networking sites can help businesses rationalize their spending and expand their customer base would be a big mistake for any business. The playing field is leveled even for smaller business owners since they do not need to put up a huge amount in capitalization in order to tap this online resource. Investing in the minds that can think up truly effective social media marketing campaigns would be the only investment that is necessary to tap these online networks.
Need helpful tips and ideas for an outsourcing business? Robert Williams utilizes his industry knowledge to research and write on issues relevant to the social marketing, social networking, science, and technology industries. Get free ideas from Robert at http://istaffsource.com/blogs/