Using Social Media to Gain an Competitive Advantage

Posted: March 20, 2012 in Uncategorized

All kinds of business’s have turned to social media to improve the way they handle their business activities. Businesses use a wide range of SMO tools to gain a competitive advantage and the loyalty of users through a wide range of social media channels such as Facebook, Myspace and Twitter. Businesses can set up pages on Facebook to gain more customers and keep their loyal customers close to them. By gaining more customers, increased profit is achieved and more of a competitive advantage is held in the marketplace.

It has been proven that company’s who have used social media to conduct business activities, have shown a large increase in revenue and in customers, for example Cisco is using social media to spread the word about new products and services that are coming in through the popular website, YouTube. They do this not just for their customers, but for their large workforce, as well as providing instructions on how to use and set up the products. Also the company Zappos used Twitter to ask their customers to help them rewrite the confirmation email customers get when they make any order with the company. Their intentions were to add more “pizzazz” to the email, so they held a competition to get the customers involved in the process, thus meeting their wants and needs.

Fast food restaurants such as Burger King and McDonald’s can use social media to gain an insight as to how they can improve and take in feedback from customers. For example, McDonalds set up a Facebook page on a new upcoming burger in the making to see if any of their customers will like it or consider purchasing it. They even have ads appearing on YouTube on their burgers too!

Businessmen can set up meetings with potential suppliers who are based overseas by using Skype, a voice over internet protocol service. By using this service they can gain more suppliers, which can improve their business productivity and expansion to overseas markets in different countries. (http://www.socialmediaexaminer.com/how-to-gain-competitive-insight-with-social-media/)

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