Taking Full Advantage of Social Media
By Ken John Asadon
THE world is at our fingertips. Through Facebook, Instagram, Twitter, TikTok, YouTube
and more, it is easy to connect with people across cities as well as borders. The use
of social media is rapidly growing all over the world.
An analysis by Kepios, an advisory firm that enables organizations to understand how
to use digital technologies to improve success, showed that there were 92.05 million
social media users in the Philippines as of January 2022. The number was equivalent
to 82.4 percent of the population (111.8 million). Social media users in the country,
meanwhile, increased by 3.1 million (+3.4 percent) between 2021 and 2022.
Imagine, as a business entrepreneur, the number of potential customers who could be
reached through social media platforms. Why not take full use of social media to expand
the business? Target customers can be found there.
The use of social media offers many advantages and are some reasons why businesses need
to be on social media:
Increased inbound traffic. Utilizing social media as part of marketing strategy will
help in expanding beyond loyal customers. Though social media, inbound traffic will
not be limited to usual customer. Creating a website or a page for business where
customers can leave comments or give ratings allows a brand to attract and connect to
a larger number of new and potential customers.
Customer engagement. Businesses need to create a bond of trust with customers. Social
media provides new way to connect and engage with customers. Interacting with them helps
businesses identify their needs, interests, concerns, and most especially what satisfies
them. Customer satisfaction rests at the heart of every successful business. Creating
strong customer bonds will further promote the business.
Reputation management. Online reputation is important. It determines how others perceive
the business itself when they search for it online. Maintaining the image of business is
also very important. Undesirable comments and reports can easily ruin a business' image.
Maintain a good reputation and strong image by keeping a strong and unwavering social
media presence. Reply to negative comments politely and professionally and maintain the
image of excellent customer service that an ideal business should have.
Marketing research. Social media can be a source of market research material. This can be
done by conducting polls or asking questions directly, encouraging customers to share
thoughts, feedback and reviews about products or services. Competitors also use social
media so it is important to also evaluate their social media activities. Monitoring
customer opinions will be helpful in planning and improving business strategies.
Reduced advertising expenses. Social media marketing is cheap yet effective way to market
business. It is free to create social media profiles. Time and the resources a company
needs to put on social media accounts are the real costs. Compared to traditional
advertising — television, radio, and printed tarpaulin and banners, etc. — social media
marketing costs less. You can save on advertising budgets using social media marketing,
which can reach not just local customers but also a global audience.
Social media plays a vital role in the success of every business today. It's important to
have a prominent online presence on various social media platforms. Find out which social
media platform the target market uses most frequently and take full advantage of it. Go
beyond the limits, expand horizons, establish strong connections and create more loyal
customers for a successful business.
Ken John B. Asadon, CPA, CTT, corporate registration and compliance partner of Paguio, Dumayas & Associates, CPAs (PrimeGlobal Philippines),
an institutional member of the Association of CPAs in Public Practice (Acpapp). His opinion does not reflect in any way those of these institutions.
Source: Taking Full Advantage of Social Media - Manila Times