From my vantage point, social media has the power to transform your business for good. Here are some of the benefits I see:
Social networking allows you to expand your knowledge exponentially.
Social media tools accelerate learning by inviting input from a wide range of stakeholders, including current and potential customers, dissatisfied customers, team members, and industry experts, all of whom are willing to freely give you their ideas and share their expertise. The tools allow you to create forums in which people can build on each other’s ideas, creating synergies and developing solutions well beyond the capacity of individuals
Social networking provides two-directional learning, giving you double return on your efforts.
Social media invites current and potential customers to tell you how to improve products and services. At the same time these people are giving you priceless information, they are learning about your company and what you have to offer.
Social networking helps you fill your pipeline.
People who engage with you in social media are not necessarily ready to buy. However, your continuing conversation keeps you top of mind. When people in your network are ready to buy, they will already know you, trust you, and be informed about your offerings. Assuming you are providing value to your target audience (a fundamental rule for social media), your audience, and your pipeline, will continue to grow.
Social media helps you outrun your competition.
Social media tools give you access to industry experts and competitors’ former employees who are willing to share information. The tools allow you to quickly get up to speed on any industry by reviewing specialized discussion threads. Social media tools also allow you to contact prospects immediately after they express dissatisfaction with your competitors, and they allow you to create situations in which new opportunities come to you.
Social networking has the power to increase internal knowledge and efficiency.
Social media tools allow you to collect corporate knowledge in a central location, eliminating the constant need to email and search email. The savings in time and reduced frustration make a substantial difference in efficiency. What’s more, these tools allow you to capture and easily access knowledge that typically is lost when an employee leaves your company. They allow current employees to build on each other’s ideas
If you’re curious about how to obtain these benefits, stay tuned. I’ve finally gotten serious about writing a book to explain the answers.