How Social Media Has Forever Changed the Way We Do Business

Social Media has only been around for a short 10 years, but has already drastically changed the way we advertise and operate online. Facebook became one of the first social media vehicles to give companies, big and small, a chance to connect and interact with their target market. Social media has helped turn advertising from a one-way marketing vehicle to an actual dialogue between customer and corporation.

Now that the consumers have a voice in the media, companies are learning quickly that one wrong step can lead to a less than savory public outcry. While consumers have historically learned to stand up to corporations when they feel there is a perceived injustice, it’s becoming easier with the help of social media. Both Bank of America and Verizon learned that lesson when they made extreme changes to their policies that negatively affected their customers.

That’s when one 23-year old tweeter became a hero of the people, when she refused to accept Bank of America’s proposed $5 monthly fee on its debit-card accounts and she wasn’t alone in her distaste for the idea. She drew in over 300,000 signatures last October opposing the change after blogging about changes.

While some may think deeming these small victories as successful “twitter uprisings,” they’re missing the point of how social media is playing into our day-to-day lives and our ability to communicate our concerns with large corporations with a simple 140-character tweet. Could you imagine if those 300,000 petitioners had instead switched banks after the $5 monthly fee was imposed? Bank of America would have to devote tens of thousands of marketing dollars just to reacquire their lost and dissatisfied customers. What’s more important is to note the number of customers that would have been permanently turned off by the company, those that couldn’t be bought back with even the most desirable introduction rates and marketing tactics.

While some companies may fear the shift of power from corporation to consumer, the smart businesses are learning to take advantage of these social media vehicles to connect with their consumers. “Friending” and following your consumers is a great way to get to know their thoughts and feelings, not only on a demographic base, but for their qualitative feedback that they so readily provide. These are the kinds of comments and reviews that companies pay to gather in focus groups and consumer interviews. The companies on the forefront of social media are learning to appreciate their consumer feedback. They are utilizing social media to keep their customers happy and gage how they should be operating their business. Combining an active social media campaign with an already intensive search engine optimization austin campaign is one of the best ways to not only keep your business on the top of the search engines, but to keep your customers as satisfied as possible.

About the Author: Allison Schnur is the Marketing Manager of ArteWorks SEO, a full service Austin SEO firm located in Austin, TX. For more information about our top rated search engine optimization company please visit http://www.arteworks.biz.

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