During this digital era development, online is becoming the next big thing for business opportunity as it possesses vast and limitless opportunities. This becomes even more apparent with the existence of gig economy, and thus it’s required for us to understand the benefits of social media for your online business in order to build a good, profitable, and sustainable business.
There have been a lot of social medias coming around ever since 2000. Starting from Hi5, Friendster, Nimbuzz, Mig33 and etc. Now, it’s been shifted into the likes of Facebook, Instagram, WhatsApp, Twitter, and also Line.
To maximize the impact social media could have on your online business, here are some benefits that you can take advantage of social media to help your online business grows better and bigger.
The Benefits of Social Media
It’s no longer a secret that millions of people use social media in their everyday lives. This results in the birth of what’s called prime time, the time where most people use social media. Of course, this prime time becomes a very profitable market for anyone interested in online business. Let’s dive deep and understand the benefits of social media have for business.
- Advertising Media
When you’re using billboard, radio, or TV as a way to advertise your product, it’s no secret that the price is very, very expense. But, with the advent of social media, you can reach even more people without spending exorbitant amount of money, or even free in some cases.
Let’s use Facebook as an example. An account with 5000 friends, combined with the reach that Facebook has, will make this a legit and very beneficial way to advertise your product. Just imagine how much money you have to pay to get that number if you’re using traditional media.
2. Building A Brand
Building a brand is very necessary because it can help fixe dwindling sales and repair the image of someone or of a product. It sometimes costs a lot of money to build a brand. Particularly when building public brand awareness. But with social media, we don’t need to worry so much anymore as we can build brands easily, and without money.
Let’s use Facebook again as an example. You can build a brand on Facebook through sounding and telling what will becomes the USP (Unique Selling Point) of a product, services, or someone’s profile. You only need to decide how often Facebook will raise the posts and arrange the contents that will be displayed. Making this benefit of social media very optimal for your business.
3. Market research
You can also take advantage of social media by using it as a tool for market research. There’s no need for big expenses either as we can use e-book, giveaway products, and other as a bait. The results will be more accurate too compared to when using forms because the tests will be performed in real time.
Another unique thing about social media, is that you can tests, or gives a trial of a product with a small amount of quantity. Large, offline samples will not be needed as it can be done through testimonial video, reviews, and others.
Those are some benefits of social media for online business that we think will be very helpful to the aspiring entrepreneur out there. Other than becoming the spearhead for making brand awareness, social media can also become a very useful tool to advertise your product.
Enjoy!!
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