If someone probably told you some 5 years ago that social media can also be a social business, your most likely response would be, “what is social media?” It probably would have been preposterous that media can be made “social.” But ah, technology and science have a funny way of turning things around and shaking things up a bit. Today, social media already occupies a big chunk of our everyday lives. Social media is now a social business and, yes, digital agencies such as Prosperity Research Digital Agency or PRDA have even already embraced this business model.
First things first. Social media as a business model is made possible through the integration of business intelligence, with social media expertise and business process effectiveness. This results in low risk and high return. These results can be enjoyed by businesses looking to leverage social media in a positive manner for consumers.
One great scenario for this is a small enterprise that is slowly using the power of social media and social networking websites. The enterprise may be using Facebook, Google+, Twitter, message boards, blogs, Sina Weibo and other social media tools. On the surface, the results are there — better, faster interaction with target audience or existing customers, wider exposure for the brand, better search engine optimization efforts and more. However, what owners of these small enterprises may fail to understand is that the more they “listen” to their customers (through these social media networks), the more likely they can use these “eavesdropped” messages and convert them into organization-wide business intelligence. They can convert these pieces of information into helpful data which can also enable them to predict and plan for the future. It’s like having your very own CIA facility! Seriously, it helps to not only be socially active but also socially wise.