What a Social Business Model Can Teach Marketers
As we note in our Targeting Markets tutorial, to be considered a qualified target market, customers must meet five criteria: 1) have a need; 2) are eligible to buy; 3) can afford can i buy followers on instagram to buy; 4) have authority to buy; and 5) can be reachable by the marketer. Depending on the product or service, a big problem exists when potential customers have needs for a product (criterion #1) but lack the financial ability to afford the purchase (criterion #3). Of course, we frequently see this with very high-end products, such as luxury goods, which are often not an option for the majority of consumers due to the perceived high price. But, we also see this problem among low-income consumers seeking to satisfy basic needs such as food, clothing and health care. While many businesses that market basic products will steer clear of trying to figure out ways to address the needs of low-income consumers, others are addressing these consumers by engaging in socially responsible activities. For example, in 2014 we saw how a candy company's social responsibility strategy was helping it enhance the value of its brand.
The Social Media Business Shift
Is it about having your brand on Twitter or Facebook? Is it about private social networks? Certainly, these all play a part. But what social business is truly about is a "shift", a move from enterprises attempting insulate itself from disruption and instead greeting it warmly. To pull this off, organizations buy instagram followers realneed to establish a more transparent environment, both externally and internally. A social business allows organizations to better solicit and understand customer feedback, to react in real-time to industry changes and not be caught flat footed. Internally, it allows communication to go from a top-down model to a back-and-forth, up-down strategy. (We've called this the "bathroom moment" in the past.) This may scare some, but the reality is that the same technologies that bring the disruption are enabling businesses to organize - just in a more agile manner. The social business shift is leading to a social business economy.
Understand the impact of social media
But what about social media? Is it part of your branding or your lead generation efforts? As a social media professional, have you ever had the unsatisfactory feeling that you can’t really explain the contribution that social media makes to your company’s business success? How is social media performing app to buy instagram followers in comparison to other marketing channels? For senior management, the impact of social media can be very difficult to understand. So what if you have 1,000 new Facebook fans, if the costs for gaining a Facebook fan have gone down by 20 cents, or if your latest YouTube video gained 500,000 views? What’s the real business impact of all that? And, most importantly, why should the company invest in social media activities? Surely, the budget could be used for something more tangible, such as lead generation efforts?