Social media has exploded since its arrival on the scene. Today, it is an integral part of any business’s marketing strategy. It should come as no surprise that social media can affect the value of your business. The truth is that social media can help boost your company’s value– or assist in its decline.
This is your business and you don’t want the value affected negatively. We don’t want that for you either. Here are a few ways that social media can have an effect on your business so you can combat any issues on the ground level and in some cases, before they even start. You want your social media presence to increase your business’s value, after all, so avoiding social media pitfalls is key. Read on to find out how you can make social media work for your business, not against it.
Unprofessional Posts/Messages/Conduct/Bio Can Hurt The Value of Your Business
A business is always supposed to act professionally and courteously. Anyone representing the business, whether it is you or an employee that is running your social media accounts, should always act with respect and professionalism. Failing to do so or making a joke that actually is ill-advised can actually have an impact on the company. If customers see a tweet that they feel offended by, they may decide to boycott your company. It could affect your reputation and your sales pretty drastically, sending your business into a sales freefall. Not good.
Deals, Giveaways, Links, and Engagement Can Increase the Value of Your Company
Social media is a place to, well, be social. It’s also a great place for businesses to talk about deals, sales, special offers, promotions, exciting news, giveaways, and more! You can advertise your business and get the word out in so many ways about so many things. Boost the message on Twitter and Instagram by attaching engaging images and using hashtags.
At the end of the day, more people paying attention to your business and generating more sales is going to raise the value of your business because your profit is going to climb. Have links to your site in your bio or profile that customers can easily click on to go find out more about the various sales, promotions, and more.
A Positive Social Media Presence Boosts Value, A Negative One Hurts It
By this, we mean keep in mind that the point of social media is to promote your business! Yes, it’s important to engage and answer questions or solve problems customers have, and it’s important for getting your brand out there. But social media is a place to showcase your business and help it do better.
Have a plan for your business on how you are going to promote, represent, and advance the business through social media. You need your social media people to be clear on how to run these accounts, with guidelines on everything under the sun. Don’t be the business that tweets something insensitive because your employee thought personality or commenting on politics was what you were going for. They have to be the voice of the business, not their own voice. A positive entity boosts sales, while a negative one is going to drive them down fast, hurting the business.
A Great Profile Bio Boosts Interest
The perfect profile bio for a business can be hard to master. You have to get down to the core of what the business is about. What is the online social media personality that your business embodies? What would it say? Essentially, it’s an entity– but not quite a person. A succinct, charming profile bio that sums up your business can put you in an instantly positive light, while a boring or poorly thought-out bio can drive customers away that are helping your business make money.
Building Trust, Posting Shared Content, and Getting Sales Increases Value
Talking to customers builds trust. It makes you more likable. At the same time, posting great content that gets shared will broaden the eyes on your business innumerably. All of this leads to increased sales and exposure, which boosts value. Why wouldn’t it? More customers, more sales, more fans, and more everything– that’s a recipe for increased value if we ever saw one.
Being Able to Measure Your Business’s Stats Can Help You Make It More Profitable
Social media comes with stats these days– stats your business can take advantage of. Go ahead, take a look. These are what marketing analysis dreams are made of. You can track the effects of posting a video on YouTube or a post on Facebook. Check out the numbers, but don’t forget to pay attention to your engagement rate to get a better idea of how effective your social media efforts really are. If you can see how well liked one post was, you can use that as reinforcement to do more like that. Use the numbers to make your company more profitable and more valuable as a result.
Social media can help a business do better, or it can really dig a hole that the business then has to crawl out of. Make sure to never give control of your social media account to an intern or someone who doesn’t have much social sense. Businesses can harness the power of social media for good or bad. It’s all about how consciously you go about your business’ social media presence.
If you can aways have the interest of the business at the heart of everything done on your business’s social media accounts, you will increase the value of your business and be doing better than ever. Thanks for reading– share this on social media if you liked this post!