How to play the social media game……and win
The growing influence of social media in terms of influencing modern business practice is largely indisputable at this point. An increasing amount of people are becoming aware of how to use this outlet as part of an online purchasing process, and this could have significant consequences for your business.
A recent YouGov survey questioned over 2,000 UK consumers and found that 46% of people now use social media as part of their online purchasing process. When you factor in the statistic that 55% of under-35s use social media to vent their frustration about poor customer service, it doesn’t take a genius to realise the impact that negative reviews could have on your company sales figures.
Playing the game
Social media can be a cruel mistress if influential groups or determined individuals decide that the service you have provided was less than satisfactory. You could be looking at a company administration scenario if you don’t do what you can to maintain your good name or keep existing customers happy.
In contrast, it doesn’t take much to use the social media platform to your advantage. For example, setting up the facility on your site for customers to ‘tweet’ or ‘like’ a specific product or deal could be exactly what is required to generate a high level of interest.
Twitter is also a great platform to make existing customers aware of new deal without overloading them with information, as you are limited in terms of the amount of characters you can use to 140.
Contacting an insolvency specialist
It can be difficult to assess how much financial trouble your company may be in as many directors and company managers are unable to look too far ahead into their financial future. Targets are being hastily re-structured from one quarter to the next for a number of companies.
A restructuring and insolvency advice service can assist business leaders, financial directors and stakeholders to deliver pro-active solutions for their business. They can also offer insightful advice regarding how to proceed in the unstable economic climate of 2013.