Thursday, July 15, 2010

Business and Social Media

Today’s business environment is going through a major change, with the increasing popularity of social media. As we have all seen, social media can be an effective way to get a key message out to the public, both quickly and honestly. Sporting events, and everything really, have been impacted by social media. At the end of the day, sports teams are businesses and like anything else, they need to adapt to the current climate and adopt these methods of communicating with their audiences. So what is the best way to tap into social media? I personally believe that Twitter is currently the most effective social media platform for business today. The speed of Twitter is undeniable and its ability to reach people and spread virally is part of its success.

Twitter forces businesses to cut out all the clutter that surrounds their usual messaging to stakeholders. They are limited to 140 characters to get the story straight.

In the past, if a crisis hit a corporation and they did not respond in a timely manner they would be criticized. This is definitely something that Twitter can change. It allows businesses to provide constant updates of information, in real time, to their audiences and make them a part of the conversation. Communicating on Twitter also demonstrates how important the customer is to the company. They can give their audiences additional information, to help them feel valued. I don’t think Twitter will necessarily be the best tool for all businesses, but for many it will. Sports teams are a perfect example of how they can involve fans (consumers) in the conversation about a team. As a fan, you probably are unable to influence the decisions made by a team, but through Twitter, the fan can be given the most up-to-date information, which they can then retweet or reply, but in the end they will be then involved. It is this involvement and ultimately investment that companies can achieve by using Twitter.

The power of Twitter is unquestionable, but the real question is will it last? Will businesses and people get tired of having to limit their conversations to 140 characters? Who knows. But for now, if Twitter fits with the brand identity, it is definitely a tool available for businesses to use effectively to increase their profile with their audiences. If I am conversing with you, I feel like I know you and that builds my trust. And trust is invaluable to any corporation.

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