What is social networking channel? Social networking channels are social media websites used for improving the effectiveness of different businesses processes. Modern businesses use social networking channels extensively in marketing, branding, and customer relationship management.
In today’s highly competitive business environment, it is very difficult to establish and run a business successfully without diverse expertise of business processes including the effective use of social networking channels.
In today’s highly competitive business environment, it is very difficult to establish and run a business successfully without diverse expertise of business processes including the effective use of social networking channels. Many big corporations and government organizations use build operate transfer model for the successful running of big projects. In this model, the expertise, finance, and management are outsourced to build run and handover the project to the owner of the project.
Let's talk about the importance of top 4 social media networking channels and their use in modern businesses.
Importance of Social Media in Business
What are social media sites? Numerous websites that are used for the interaction with friends, colleagues, customers and relatives for updating them about personal or business activities are known as social media sites. The examples of social media sites include Facebook, YouTube, Instagram, WhatsApp, and others. More than 41% of small businesses believe that their revenue is dependent on social media channels. A sizeable ratio of 44% of small businesses say that social media is key for developing a brand value.
According to the Global Digital Statshot report for the second quarter of the year 2019 information, there are more than 3.484 billion social media users worldwide. The total number of internet users is about 4.388 billion. The major purpose of social media use in the business is to tap such a huge market potential to increase business sales.
Almost all types of businesses in today’s online business ecosystem use the power of social media channels for the following objectives.
- Increasing brand value
- Generating new leads
- Enhancing customer relationship management
- Improving the conversion ratio
- Improving user experience
- Improving the SEO of online websites
- Increasing over sales and ROI
- Engaging with the stakeholders
- Improving awareness
- Developing customer trust and loyalty
Social media channels developed through the social network online free websites can help you achieve the above-mentioned goals for your business easily.
Using Social Media for Business Communication
Communication with the prospective clients on the social media is normally established through numerous ways such as providing educational content, offering promotions, responding the queries on the business page, sharing interesting visuals, videos, and other entertaining content.
According to the latest research, the major brand actions that prompt the customers to purchase the products include being responsive (48%), promotions (46%), educational content (42%), and interesting visuals sharing (38%). The other forms of actions that can be used in social media business communication include being funny, engaging the audience with exclusive content or even entertaining videos.
Top 4 Social Media Channels for Social Networking
There are many social media sites available in the marketplace. Every social networking site has its own features and capabilities that attract people to join that website. According to the latest information on Statista, Facebook, YouTube, WhatsApp, and Facebook Messenger are the top 4 social media platforms in descending order by the end of April 2019.
Facebook is the leading social networking website used for both personal and business networking. The company was established in February 2004 and headquartered at Menlo, California. It was founded by Mark Zuckerberg and his student fellows. The company has more than 2.32 billion active users in the second quarter of 2019, according to the Statista information.
Facebook allows businesses both free and paid services. It allows businesses to create a free Facebook page and run campaigns to market the products and target prospective clients on the platform. It also offers paid post boosting, advertisement, and other services for promoting the businesses. Consistent engagement with the targeted segment of customers through different types of useful content can grow your business substantially.
YouTube is a video sharing platform where any individual or a business entity can upload, view, and share the videos by creating a YouTube channel. YouTube is a subsidiary of Google Corporation since 2006 when it was acquired for $1.65 billion. The site was first introduced in February 2005. At this time, YouTube has more than 1.9 billion users. It is the second largest social media networking video site as per Statista information.
Video marketing is emerging as the most powerful and dynamic domain of digital marketing. The video content is one of the most liked types of content in today’s digital marketing. You can create different types of video such as product intro, how-to videos, customer testimonials, interviews of industry leaders, documentaries, and much more. The effectiveness of videos on improving website traffic and conversion ratio is comparatively high. The popularity of video ads is touching the new heights in the field of digital marketing. YouTube is becoming a giant video advertising platform for businesses.
WhatsApp is a communication application that runs on your mobile phone by registering with the valid cell number. This application operates in more than 180 countries and with hundreds of mobile operators. It allows users to chat, voice calls, and video call. The feature of creating business groups is the most powerful feature to keep in touch with loyal customers on this platform.
The company has more than 1.6 billion users across the world and the number is counting consistently. It is also becoming a big platform for small businesses to interact with the customers through WhatsApp Business application. This application has many features to manage customers, orders, and communication simultaneously. WhatsApp is free for creating a group of 256 people. You will need to pay for the larger groups. You can create a business profile, send business updates, collect payments, take orders, and much more.
#4 Facebook Messenger
According to the Statista information, the Facebook messenger is the fourth top social media platform with over 1.3 billion active users. Facebook Messenger can be used for automated calls, auto chat, and other features. The effective use of Facebook messenger can improve the website traffic and conversion ratio significantly. You can create a large Facebook group free of charge. This provides you with the power to simultaneously talk to a large number of audience instantly.
Facebook messenger is extensively used for digital marketing, customer support, advertising, sales, product awareness, and many other purposes that can influence the marketing and sales of online products. The click-to-messenger ads are other powerful features of Facebook messenger that an enterprise can use for improving the business bottom lines.
Social Media Channels & Businesses Promotion
According to the latest research conducted by eMarketer says that the global market of digital ads is expected to reach $333.25 billion by the end of 2019. This whopping spending on digital ads is almost half of the total ads spending in the world. Google is the leading seller of digital ads with a total value of $103.73 billion followed by Facebook with $67.37 billion.
This means the social media channels are leading the way in business promotion. This trend is expected to continue for many years to come because the digital advertising market is continuously growing with double digital year over year growth.
Social media channels have become the most powerful channels for the growth of business and sales. Facebook is the leader in terms of the number of users and Google is the leader in the advertisement business. WhatsApp and Facebook messengers are emerging as the top challengers in the digital social media world.