Social media; Who cares?
The acronym eWOM stems from the acronym WOM, and stands electronic word of mouth. This form of communication is computer based and uses tools like email, social media, and blogs to spread ideas, experiences, and recommendations. eWOM has placed an unprecedented amount of power in the “fingers” of the consumer, and the Internet has amplified the voice of the consumer to other consumers actively searching advice and reviews.
Many businesses both small and large are hesitant to engage in social media activity. Many don’t see the point in engaging there customers because they have never done it before and some simply do not believe in its power. As of December 2011, over 2.3 billion people had access to the Internet, and according to the SEC, 955 million of those on the Internet are monthly Facebook users. This is a market with enormous power and should not be passed up or overlooked.
What good is social media?
The most obvious benefit in using social media in business is your ability to communicate with consumers, and accurately represent your brand. All social media channels make for an easy way to get the word out about deals or upcoming specials that might otherwise be forgotten. Social media can also be a platform for other creative interactions that you can use to establish a relationship with your consumers.
What many brands fail to recognize is that social media is a two way street. Consumers have the freedom to express their feelings and emotions, both the good and the bad, with the brand on their wall.
This may cause some businesses to be hesitant; for fear that by making a profile they are subjecting themselves to criticism. Well, you are, but that’s the point. The point of social media is establishing two-way communication between your brand and the consumer. Negative feedback is essential to the growth and consistency of your product, and ultimately the success of you business. You should not use social media to listen to the consumers, but rather to hear them, and to act accordingly.