LONDON--(BUSINESS WIRE)--Global market intelligence solutions firm Infiniti Research has identified the benefits of social media for businesses in its latest downloadable article.
Social media is now a significant part of every marketing strategy, and the benefits of social media in business are so great that anyone not leveraging this cost-effective resource is missing out on a remarkable marketing opportunity. It is easy to see that social media is a chief element for success in marketing and many marketers understand the potential for business growth using this platform. But, some of these professionals are not very sure about which tactics to apply and if they will be successful.
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To know what one wants to attain from social media, one must first understand the broader objectives of the organization. Without understanding the broader picture, the question of what role social media is likely to play in it will be left unanswered. When an organization analyzes how to benefit from social media, the general starting point should always be knowing the key business objectives of the entire organization.
According to the media monitoring experts at Infiniti Research, “To understand what one wants to achieve with social media, one must first understand the wider objectives of the organization or its very reason for existence.”
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Benefits of social media for different organizational functions:
- Better customer interactions: If an organization decides to transfer a part of its customer service function to Twitter or Facebook, then they can find social media useful. The hope is that this would bring about more satisfied customers with shorter response times. By evaluating social media content, the customer service department can understand what kind of issues are expected to cause a reaction in customers. It can also help make note of the times when the need for customer service is higher.
- Competitor analysis: Gathering information about your competitors from social media may put you in a fortunate position in relation to them and enhance your market intelligence. You can also use a Share of Voice comparison to compare the volume of your social media coverage to that of your most important competitors. Also, in terms of content, there could also be a lot to learn from the campaigns of competitors in which they accomplished to involve people in a positive manner. In market intelligence, it is not only competitors who matter, but also suppliers, customers, and the whole industry.
- Insights generation: An organization can use the insights acquired from social media in their strategic planning process. Social media can also provide valuable information for both marketing and sales functions. The effect of a social media campaign on a particular audience can be tracked by marketers and compared with that of the competitors.
- HR functions: Human resource can also benefit from social media by helping them search and hire right candidates. Social media offers a huge amount of data on consumer insights, key industry opinion leaders, latest trends, and a number of other issues that help businesses in decision making.
Download your free copy to access the complete list of benefits and download the complimentary supplement.
Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the benefits of social media for businesses.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us.
