Revenue creation via Social Media
Social media influences the way businesses market their products. It is worth mentioning that through social media, consumers are able to share ideas regarding a certain product. More so, through social media consumers of different products interact to share ideas concerning different products in the market. Some of the platforms used include Facebook, Twitter, Pinterest and Instagram. Businesses use Facebook to share content, Pinterest to show their products and LinkedIn to create networks with prospects. It is therefore, imperative for organizations to understand the impact of social media as a marketing strategy for their products because these platforms are a major boost to their revenue.
Businesses increase revenue when they engage with their social followers. With the advancement in technology, many people have an access to social media platforms. These have created a vast online market where people can advertise their goods and services. The platforms also provide a wide market for procurement and sale of products (Sashi 258). This market advantage helps in generating more revenue for individuals and businesses.
Accordingly, business can offer customer services via their social channels. Therefore, through the social media, they are able to understand the needs of the customers. More so, the customers are satisfied because they get the services instantly. As a result, they consumers of the services become loyal to the organization. Such instant services and customer loyalty result in increased sales.
Some organizations use social media to steer followers to their website. A majority of consumers use social media to get a clue of the products they want to purchase. Therefore, organizations use the consumers’ excitement and interest in social media to guide them to their e-commerce sites. The customers are able to access the products when they view the website, consequently, increasing the sales of the organization.
Sashi, C. M. “Customer engagement, buyer-seller relationships, and social media.” Management decision 50.2 (2012): 253-272.