An in-depth and accurate knowledge of your prospects’ mindset does help, when it comes to building great products, and give good services. If a mismatch exists between their aspirations and your offerings, a business is most likely to suffer. Social media plays a key role in bridging the gap, allowing you to exactly deliver what your customers want, putting your business on a solid ground. 

Many companies though, are still apprehensive of social media due to certain myths and misconceptions that they tend to carry. For instance, many owners believe their business is too small to deserve a place on it, which is too vast. But this exactly is why they should tap its reach and power.

What makes the new media powerful?

According to several research reports like the one by leading market research firm Nielsen, a large majority of Internet users regularly check into a networking site, review site, or blog. You cannot afford to miss out on an opportunity to reach them.

The key is to be both innovative and consistent in approach. One off efforts or an on-off strategy is not going to bring expected results. Consider this example. A business venture, Tasti-D-Lite, has amalgamated the Foursquare tool with its loyalty-card program. When a user registers the card or visits the loyalty website, he or she can connect with Foursquare account in a click (this along with Facebook and Twitter).

Each card swipe simultaneously earns brand loyalty points plus Foursquare check-in points. This is how the popular frozen dessert chain popular based in New York has taken a step further in the digital realm with its interesting social media rewards program.

Be judicious in your approach

The point is: Though social media is a handy tool that greatly impacts purchasing decisions, its effectiveness largely depends on the way you handle it. You need to formulate a proper strategy to drive meaningful traffic and then sustain the flow with quality content and interactive ideas (articles, contests, quizzes, videos etc.) There are other areas like search optimization, blog advertising, Google ads and effective e-mail segmentation that also play an important role.

Small businesses cannot any longer afford to merely observe the social media; they must be a part of it and embrace it. Aversion to it is not a wise thing with an increasing number of users cutting across gender, class and geographies getting active on it.

An opportunity to influence your prospects

Today’s net-savvy populace, as stated above, is leveraging an array of new media channels and other tech-driven tools, through group engagement and community building. It would be imprudent to assume that they are not your potential customers, especially the younger generation. Your brand or business will fail to reach them if you stay away from social media, hampering your brand’s future growth.