Jim Ramphal
Thursday, February 17, 2011
Technology favors the young, which is why most social network users are in the 15-40 age demographic, although seniors are also increasingly comfortable in an online capacity, including social networking and both groups represent a substantial degree of purchasing power.
Businesses that utilize social media can realize a vast source of new revenue by employing these technologies to reach new customers and engage existing ones efficiently and economically. social networking can ensure that a business is reaching out to directly to customers, and can effectively tailor information, sales opportunities and initiatives by the most cost effective means possible.
Social network technologies like Twitter and Facebook can be utilized commercially to entice literally millions of consumers exactly the same way they are used socially to interest and attract people to one another.
Social media allows small businesses and large corporations alike to build a more interpersonal relationship with their customers. Whereas formerly consumers might have felt companies to be cold, impersonal bureaucracies, people can now interact and communicate with businesses more directly and with more avenues of contact than ever before.
Technologies that provide customers with direct engagement to any business are invaluable in setting a precedent of availability and response that people find both attractive and comforting, and offers a distinctly human element that best represents a corporate brand.
Social networks are also a successful means of positioning a business as one that is on top of Technological and cultural trends, giving any business a definitive edge over competitors that are not comfortable or aware of the necessity of staying ahead of the curve in an increasingly wired world.
Technology when used correctly can give corporate brands a cool and modern identification that appeals to a sophisticated and web savvy consumer audience. Customers want to have access to the most concise and valuable information available prior to making a purchasing decision, and they want to do it when and how they choose
