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Benefits of Social Media for Startups

The invention of the internet has been a boon to businesses that have flourished under the aegis of internet. The internet has provided the much needed exposure to innumerable small business and start-ups and helped them reach their present locus. Almost all business houses, whether small or big in size, has their presence on the social media and many companies with deep pockets have dedicated teams handling their online presence. An advertisement on social media reaches 3 times the number compared to traditional advertisement. So we bring you a list of reasons why a start-up should work hard to maintain its online presence.

1

EXPOSURE
More eyes mean more exposure for your business. Sometimes the failure to communicate your idea or your product, no matter how revolutionary it is, leads to the failure of the organisation itself. Remember, you created your product to sell it to the audience and it is important that they have the knowledge about the product. A host of surveys, from all parts of the world, have established that advertising on social media results in direct growth of your brand. Notwithstanding, it is important that you identify the channels according to your product segment. For example: Putting an advertisement of baby diaper on adult website will not reap you the expected results.

“If your business is not on the Internet, then it will be out of business.”
                                                                                                                      Bill Gates.

FEEDBACK
Social media allows you collect feedback about your product directly and indirectly through social media. Amazon.in, the e-commerce behemoth, is known for updating its website based on the feedback that it receives online from its “unsatisfied” customers.

TARGET AUDIENCE
An advertisement running online has the capability of targeting a custom specified audience according to the needs and nature of the product it is intending to sell. This also reduces the cost involved in the campaign and increases the relevance of the advertisement and it costs almost half as compared to the traditional means of advertisement which can be a huge advantage for new business that is still finding its feet in unknown waters

KNOW THE TRENDS
Social media platforms such as Facebook helps a business by allowing them to analyse the trends in their respective markets. It makes it possible for a business to gauge the success of their online campaigns by showing them the reach their post has gained. It gives minute report to the last detail. It also helps the business to plan their next step by analysing the market trends.

CUSTOMER RELATIONS
Social media has made it possible for the business to entertain customer complaints online. Many companies like Snapdeal let customers tweet about their problems and they solve it accordingly. Banks like ICICI bank allows its customer to transfer money via tweets. This also helps the business in earning some free word of mouth advertising and also helps avoiding negative comments over the internet by unsatisfied customers. Remember, customers are your best brand ambassadors.

RECRUITMENT
Another important feature of social media is it allows the company access to a large pool of talent irrespective of its size. Many recruiters believe that hiring employees through website such as LinkedIn, a social media for professionals, is more suitable than other means of hiring.

A lot will depend on how you sell your product. An ideal ad campaign entertains the audience and at the same time educate them by selling them experience. Social media has become an inseparable part of a business. It is true that social media is no guarantee as to how much impact your online campaign will make on the growth of your enterprise but it is better to light a candle then to sit in the darkness.

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