Back a few hundred years ago, before television, indoor plumbing or even light bulbs, one might suspect that time crept by slowly in all aspects. From your day-to-day activities to waiting for the next big “technological” advancement, the human race, while always ingenious, really made no great strides in technology for thousands upon thousands of years.
But rewind just 20 years and look at the technological landscape, with computers on the rise, the Internet knocking down the door, and an entire world on the brink of something fantastic. In these few short years, we’ve gone from boxy computers with dial-up connections to 4G mobile broadband used to connect to social networks like Facebook.
It’s mindboggling to think we’re just getting started with these technologies. Businesses of today have changed significantly due to the Internet, particularly social media, and any brand hoping to reach a wide, active audience should prepare for more change.
Below are a few ways in which the future of business will change – and has changed – because of social media and sites like Facebook.
5 Ways Social Media will change the future of your business
1. The Sales Mechanism
While this may seem vague on its face, it’s important to understand just how social media impacts your entire sales system, from the way you market to the way you receive payment. Advertising using Facebook gives you a distinct advantage in the realm of social media. Not only can you narrowly target a market, but there are a slew of apps, protocols and other social features that will allow you to build large, thorough and effective lists for the purposes of driving people into a conversion funnel.
2. Customer Engagement
Whether you’re dealing with your customers via customer service or if you’re simply keeping them engaged with your brand to build up some important loyalty and broader recognition, social media has changed the way brands engage with customers in multiple ways. Especially on Facebook, there are a range of apps to use to engage with a base, and this particular social networking site makes sharing material not only easy but also fun. The features by which fans and friends receive your material is also cutting edge, and engagement is only going to become easier going forward, as evidenced by newer features like Graph Search.
3. Brand Awareness
Facebook makes it a simpler process to reach a much broader scope with your brand in general. Even if you’re not dealing with strict metrics like your return of investment through ads on Facebook, having a wider brand reach can pay off in the long run. With a member’s News Feed, your brand’s Timeline, the ability to target fans and customers through mobile methods, and even new video ads and other features, the ability to increase brand awareness amongst your niche will change for the better as Facebook evolves.
4. Marketing Demographics
HOW WE TRIPLED ECOMMERCE REVENUE IN 18 MONTHS
By capitalizing on conversion-centric email marketing, social media, online giveaways, and abandoned cart emails, we significantly increased brand loyalty, awareness, and most importantly—eCommerce sales.
It’s already relatively easy to target different demographics when using a site like Facebook. Not only do the site’s tools provide you with a range of options to target different demographics, but third-party ad management apps also add to the effectiveness of your marketing campaign. As social media advances and mobile becomes a larger part of the landscape, reaching and actually engaging with people from around the globe – as in brand-to-customer relationship – will become a huge part of a company’s success.
5. Marketing Costs
As more of the world starts to communicate via social media, advertising costs are going to continue to decline. That’s not to say that a lot of ad features won’t possibly move up in price. But with the aforementioned features throughout this article, organic brand marketing will become more and more effective. Focusing on quality, sharable material, targeting a more interested niche, and giving people more bang for their buck will ensure that you develop an audience without having to spend a fortune.
It’s hard to predict exactly how social media is going to change moving forward; but by following the already established trends and the recently released updates on the biggest sites, the picture is becoming more focused. Gauge what potential improvements will work best for your brand’s marketing and get started.