Social media has a big role by marketing standards in today’s business world. Social media sometimes is the only way a company or organization promotes itself or a product (in some cases). It also can be the selling point to a customer for a particular product if they use one of the social media outlets frequently. So why should brands participate in social media? Well, the answer is simple. An organization or a company typically wants to build up a name for itself and use any form of social media to promote their product(s) to get the word out. If they do these steps well, then the company will benefit financially with all the people who follow their organization through social media.
I found a section of someone’s blog who states perfectly why brands should indeed participate in the growing area of social media. “Social media has enabled consumers to dialogue with brands. In fact, consumers are sharing the stewardship of brands as they produce, distribute and curate feedback and content about the brands that they buy. As such social media plays a critical role in how brands build awareness and generate consumer goodwill and loyalty that ultimately translates to profits.”
Social media can be defined as instant advertising for an organization if it is done well. An interesting point to bring up is that what if McDonalds, Burger King, or Subway did not exist in today’s world? What if they were small companies just starting out? Well, these three companies definitely would utilize traditional forms of advertising and capitalize on promoting with social media. They would have to build up a name for themselves, maintain that “good” name with loyal customers, and maintain awareness about their brand. So some main points to take away are that brands should indeed participate in social media because it will only help a company promote itself, it is a helpful way to get the “main word” out, and many people use social media so the financial potential is there waiting.