Social Media Business Benefits

Social Media has made a huge impact on the society we all live in today. In order to better understand why businesses have and should get involved with social media, I have created a list to explain how beneficial social media can be for any business big or small.  

“Forrester Research says the sales of software to run corporate social networks will grow 61% a year and be a $6.4 billion business by 2016.”

“When Red Robin Gourmet Burgers introduced its new Tavern Double burger line last month, the company had to get everything right. So it turned to social media.”

1)      Companies are using Social Media to build teams that solve problems faster. A great example of this (even though we aren’t exactly a company) is our class. My using our Facebook group we have really come together by communicating constantly with one another to build a solid group foundation. If any of us are ever faced with a problem outside of the classroom we know exactly where to go.

   

2)      Social Media makes it easier to share information better among employees and partners. Instead of having to call or email other employees at your place of business, social media makes it easy to just simply type out a comment that quickly allows everyone to see the message and even allows simple interaction, since others can comment on the message as well.

3)      Social Media for advertising. With a billion people on Facebook and hundreds of thousands on other social media websites such as Twitter, Google+, and LinkedIn. Great advertising should be a no brainer for the marketers working in companies. In a survey done by McKinsey & Co, nearly 90% of businesses that use social media for advertising have reaped at least one measureable business deal.

4)      Social media allows companies to find people with exceptional skills for their specific needs all over the world. A great example of this is LinkedIn. Companies are able to go on this website and search for people who have the skills they need in their company. With a couple clicks of a mouse they are able to see the candidate's resume and have all their contact information as well.

5)      Social Media allows companies to listen to their customers. Customers are constantly posting comments and information about what they do and do not like about certain products. My listening to the wants and needs of the consumers companies are able to make changes according to these demands. This creates happier customers, which makes for better business.
     
      http://www.youtube.com/watch?v=4sAMNIMswnY : In this YouTube video a women explains her thoughts on how social media is benefiting businesses.

  What do you think about businesses using social media to benefit their companies? If you have any success or failure stories please feel free to share!

http://www.usatoday.com/money/economy/story/2012-05-14/social-media-economy-companies/55029088/1 This is the article where I found these benefits.