The impact of social media on nearly all aspects of life today is too strong to be ignored. From shaping daily conversations across the world to influencing shopping trends within different social classes, the social media apps are gradually taking over the world. The business world, in particular, has benefited greatly from this social media revolution as businesses are able to achieve more on a smaller budget by leveraging the power of social media. Other businesses are always looking for information on how to makes a social media app, that can become successful. Here are the four major ways through which the revolution of social media apps is affecting today’s corporate world.
Penetrating Global Markets
Insufficient understanding of the demographic and physiographic variations in the world of business has for the longest time hindered many local businesses from exploding into the global market. The social media apps are, however, rewriting this script by helping these businesses to understand the diverse customers’ tastes and preferences without overstretching their budget.
The Facebook app, for example, employs sophisticated algorithms to collect and analyze relevant customer data, particularly by monitoring an individual’s online purchasing history, and then predicting what different customers from different parts of the world want. Entrepreneurs who have integrated social media in their businesses can, therefore, precisely predict the product types and price ranges that will have the highest global appeal in the foreseeable future and therefore strategize accordingly. That’s the understanding that every brand must have in order to effectively penetrate the global market.
Effects of Business Branding
In this smartphone era, the social media can make or break any company’s corporate identity regardless of whether the company is active on the social media or not. Companies are bringing social media agencies to help them incorporate it into their business as a way of leveraging the marketing powerhouse that the platform has become. With a good social media representation, companies are now able to advertise their products, create a positive online image, and attract new markets. The social media apps have also made it easy for customer service teams to effectively interact with their clients, answer their questions faster and in a language that the clients understand, and take real-time updates and suggestions. All these go a long way in building a strong brand both off and online.
Social media apps can, however, negatively affect a company’s brand in more ways than one. Take a case of frustrated employees or customer using the social media to rant over a particular company. They can, for example, take photos that could potentially tarnish the company’s reputation and post them on Instagram or start a protest hashtag on Twitter. When thousands of social media users jump onto such a negative hashtag, the company is as well as collapsed. Netflix is an example of a company which faced the wrath of the social media when it reviewed its prices upwards. It attracted more than 80,000 negative reviews on Facebook and Twitter and within no time, it had lost up to 67% of its market value.
Rewriting the HR Management Notebook
The social media revolution is sweeping right through the HR departments across industries. Unlike in the past when the HR departments operated under the command-and-control structure, businesses are adopting a more social approach to human resource management thanks to social media. Business administrators are gradually realizing that irrelevant staff politics should never be a determining factor in employee motivation exercises. They are embracing the fact that the surest way of gauging an employee’s performance is using the social business apps to collect and analyze the employee’s work ethic and efficacy.
Improved Brand Awareness and Loyalty
Over the last decade, social media apps have transitioned from mere socializing platforms to the strongest marketing networks. Facebook Ads, for example, have made it possible for businesses to reach millions of potential clients from across the world. Renowned brands such as Gucci, Kate Spade, and Bulgari use Facebook and Twitter to display their new products and create enough awareness before inviting customers to shop in their physical stores.
The good thing about the social media is that most users browse through different brand pages with a unique optimism and positivity because of the “socializing mood” that the platforms create. One satisfied social media user has the potential of bringing along thousands of his/her friends and by the end of the day, the brand’s awareness jumps to an all-new high scale.
Another way that the corporate world is leveraging the power of social media to create an unwavering customer loyalty is giving social media users special deals and offers whenever they use their services. KLM, a popular airlines company, was recently rewarding Twitter users who made contact via social media and then went on to book flights with the company. Such customers become unpaid brand ambassadors in the end.
The corporate world and technology are two fields that must complement each other for either of them to survive. Businesses depend on technological advancements to evolve while the tech industry depends on businesses to remain relevant. In this realization, app development companies must work around the clock to come up with the most fashionable apps for the corporate world. Business admins, on the other hand, must invest in those apps so as to grow their trade and maximize on their profits. From the look of things, the revolution of social media apps in business will spare no one who rigidly refuses to jump on board.