Introduction
Modern technology has brought tremendous changes in the way business firms operate. Processing information and arriving at optimum choices have become easy for customers as new virtual tools are taking their space every day. The development of mobile internet technology along with the expansion of the existing models of computer application has opened new opportunities and challenges in the current day business environment. The concept of virtual socializing is the basis for the operation of almost every kind of business irrespective of their size and location.
In Person Cold Calling
Today communication facilities like email, voicemail, and social media marketing have become the essential part of everyday life and business operation. Earlier, many salespeople used to visit prospects in person instead of calling them on the phone or sending them email. Meeting prospects door to door is not a common approach today in the context of B2B model. However, in person cold calling can actually be more practical than what people think today. For instance, a sales person who is the first one to approach a particular office or individual is likely to get higher business. I would choose this type of prospecting only if the prospect is of high potential.
Networking refers to a specific style of business activity by which a group of one-minded businesspeople make out and work on potential business opportunities. It is a sort of social network that intends to promote business networking activity. It helps people connect with other business people forming mutually favorable business associations. Several famous business networking organizations today take part in business networking activity. Networking, when followed, let the business people make new business relationships and create new business opportunities simultaneously. This is advisable when joined effort is essential to tap an emerging opportunity or if associating with a number of groups seems advantageous.
Social Media
Social media is the most potential platform for business promotion and marketing today. It offers excellent platform for promoting brands online. Social media like Facebook, twitter, instagram, Tumblr, Pinterest etc. offer wide exposure to millions of people across the globe, and therefore they are incredible resources for businesses of all sizes. Using the features like Geo-targeting, an organization can send messages to a specific audience or demographic. Facebook and Twitter have tools that let firms communicate the right sort of content to the viewers. Most of these sites allow users to target prospects by location, language, age and gender. For example, if one wants to send out a post to people who speak French, geo-targeting feature will make this possible. I will give high emphasis to social media for the promotion of my business in the future.
Referrals
Referrals are good business policy for the promotion of a business online. Many companies have implemented this method to reach new potential prospects. It allows them to expand their customer base effortlessly. The existing customers who refer the service/product to their acquaintances are benefited in the form of commission, discounts, promotion or gifts. This strategy encourages the customers to do business for the firm further looking forward to their perks. At the same time it improves the company’s income too. This method will ease the companies’ marketing struggles. Also, product/service referred by an existing customer is more trustworthy to a new client. I will use this method in my web-based business activities through online referral programs.
All the above prospecting styles have their own merits and demerits depending the size and nature of business. However, social media seems to have an upper hand in the context of changing business scenario.
Part 2
Working as a social media marketing expert seems an interesting and promising career. Since the business world is highly associated with the modern technology, web-based activities have great scopes in the future. People today tend to rely on the internet for gathering information on any product/service before they decide to purchase it. Hence, a web version is vital for any business regardless of its size or nature. However, mere presence on the internet will not meet the requirements.
Networking activity involves numerous tasks ranging from SEO, Social Media Marketing, link sharing etc. Although opening an account on social media like facebook and twitter is a simple task, from a marketing perspective, this involves thoughtful actions and regular actions. According to a suggestion by Cunha and Manuela (2013, p.243), a social network is a collection of individuals and groups of persons engaged in socialized activities with definite roles and purposes.
In my opinion, social media outweighs other types of prospecting like in person cold calling, networking, and referrals. The main reason is that a business post on social media can reach millions of people in no time. And, an expert in social media can make use the full potential of this facility. It is easy for a marketer to target his right audience easily.
The social media platforms offer location-based targeting for free. The facility enables easy and direct communication possible across the globe. Other types of prospecting are time consuming and they involve risks. For instance, in person cold calling, or telephone cold calling can irritate prospects and their response is unpredictable. Although social media also is vulnerable to abuses and bullying, one can easily tackle the situation. When compared to other types, social media allows one to interact with multiple prospects at the same time. One who is well conversant with the product/service can easily resolve customer complaints or clarify their doubts. This form of prospecting requires no commutation. A marketer can stay at his own office or residence while interacting with his clients. Business conversation is possible even when travelling. The client can be easily convinced of the benefits of the product/service once the system enables easy sharing of files, images, referral links, etc.
Good communication can make the client feel the physical presence of the marketer. The most important thing in this aspect is the authenticity the company expresses on its web-based activities. Only a company that allots time and manpower to social media marketing can meet this requirement. Regular updation of the page is important. There should be a good volume of interesting posts every day. The posts should evoke viewers’ response so that they would engage in active discussion.
Since each social media site has its own unique features, maintain pages on a number of such sites require great effort and knowledge. According to a report, wise utilization of social media acts as a powerful business tool which provides benefits like popularity, revenue, market research options, easy recruitment and network communication etc (Benefits of social media).
In total, the potential of internet caters to the growth of commercial enterprises in every field with the help of social media today. Social media saves a lot of money and time in processing information and communicating ideas, and it can act as an angel of gains for the business organizations today.
References
Benefits of social media. (n.d.) Business.gov. Australian Government. [online] available at: http://www.business.gov.au/business-topics/business-planning/social-media/Pages/benefits-of-social-media.aspx
Cunha, C & Manuela, M. (2013). Handbook of Research on Enterprise 2.0: Technological, Social, and Organizational Dimensions: Technological, Social, and Organizational Dimensions. US: IGI Global.
