Benefits of Social Media For The Nigerian Business

Social media has revolutionized the way people communicate globally. A decade ago, the most common means of communication in Nigeria was letter writing. This was because telephones were far and few in between. A major of the populace relied on posting letters to communicate and replies took weeks to arrive. The story has changed in recent years.

Today, communication is nearly instant. Talking to friends and family takes place via apps on phones and on the go. You can send a message and receive replies in minutes regardless of where the person is in the world. The world has truly become a smaller, more connected community.

Apart from revolutionizing the way we communicate with friends and loved ones. Social media has been changing the way many businesses relate with their customers. You may think instant and easy communication is the only benefits businesses get from social media, but there are a lot more:

Instant Feedback

Customers can give you real insights and feedback on your products and services via social media. Most times, all you have to do is engage them by sharing your products or services and asking their opinions. This real negative or positive feedback gives you an insight into the customer’s perspective. You can create new or modify existing services/products based on that feedback.

Improved Customer Relationships

The 21st-century executive is more of a listener than a salesman. Social media has enabled businesses, both small and big, to better manage relationships with their customers. In the past, communication with customers was one way via TV, radio, billboards and print media. Nowadays, many brands have more effective communication with their customers. Nigerian banks are a good example. Many including Access Bank have pages on different social media networks where they handle and resolve customers’ queries and complaints. This type of communication is one we were never able to achieve with traditional means of communication in the past.

Better Market Intelligence

Social media has provided the tools for many companies to monitor their competitions and gain valuable information to improve their market intelligence and ability to compete favourably. This information can help when brands develop better products to that will lure a larger portion of the customer base.

Increased Brand Awareness

Creating and increasing brand awareness with social media costs very little. With a stable internet connection and a knowledge base, one can instantly reach millions of people at once. This strategy costs more when using traditional means of advertising. Many brands now hire community managers whose job it is to interact with the brands’ customer base and create awareness.

Share Information faster

One of the challenges traditional marketers faced was getting their message across to consumers in real time. With social media, information and content are  shared almost instantly to thousands of customers on the companies’ page.

To ensure that your content or information reaches a large number of people, always make sure that your information is in line with your image and interests your audience. An interested audience will share this information with their friends and followers. Enabling you get to a wider range of people.

Social media has become one of the best ways to create brand awareness, manage customer relationships and even market your products. Social media has truly revolutionized the way we do business in Nigeria. It is cheaper and faster than all other traditional means of advertising. But all these benefits become useless when you don’t have a solid product or service to back up your brand.