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Impact Of Facebook And Whatsapp In Startup Era

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What is Startup?

Coworking process. Photo young business crew working with new startup project. Notebook on wood table. Woman showing screen laptop, man holding smartphone. Blurred background, film effect.

A startup is basically an entrepreneurial venture that is in the first stage of its operations and which it is initially bankrolled by its founders. The founder’s key attempt is to capitalize on developing products or services.

The world’s largest social networks, Facebook and Whatsapp are responsible for creating nearly 4.2 million jobs in India and have added $220 billion to the world’s economy, just by being a platform for marketers, startup firms and budding entrepreneurs.

Making the most of social media platforms, startup companies are leaving no stone unturned to promote their business online aggressively. About 112 million users in India have Facebook accounts and marketers are finding no best way to broadcast their business nationwide.

Why only these two platforms?

You can advertise your business at just the click of a mouse by creating a Facebook page, recording a short video or by just informing about your business on instant messaging app to multiple users at a time. It is easy, cost effective, appealing and customer engaging. Overall you save a lot!

Some of the highlights how startup firms are benefiting from Facebook and Whatsapp are listed below:

Wide Customer Reach in Less Time

Digital Marketing for Customer Acquisition

Gone are the days when small businesses had to resort to newspapers, magazines or TV and radio commercials. All traditional forms of advertising have taken a back seat and now, social media has become the primary way to share and receive messages. You can approach your customers by just leaving a short message on social media. The process has just become faster than before.

You can create a strong online presence for your business by sharing and posting videos, articles, news stories or running a teaser about the launch of new products. It creates a buzz among customers and persuade them to watch the video and taking action regarding the purchase.

Build Relationships

customer-relationship-marketing

E-commerce giants such as Snapdeal and Flipkart have made their mark in the market just by analyzing the market trends and mapping the consumer needs, wants and demands.

You have got to study the consumer perceptions thoroughly and then penetrate into the market accordingly. Startup firms makes optimal use of Facebook and Whatsapp by running social campaigns about their upcoming products/services and offers lucrative offers/exciting gift hampers.

An economical deal of products instantly catches consumer’s eye and this is how you can maximize customer base and cultivate relationships. If you are able to satisfy consumer requirements in terms of quality, price, variety and other needs, then you are sure to make good sales at a faster pace.

Customer Support

computer-support

 

Customers now no longer have to wait for hours on phone line or at the help-desks to get their grievances resolved. The redressal teams are now just a message away.

A website development platform, NowFloats uses Facebook messenger and Whatsapp medium to serve customer’s problems such as configuration issues or hardware and software glitches. It is just so time saving for customers and cost-effective for marketers to deliver customer help in minimum possible time. There are several other small firms such as Just Herbs that offers skin and product consultations on instant messaging app itslef.

Getting your customer’s grievances and queries resolved in a short span of time plays a pivotal role in developing customer relationship and building trust. This is how a customer decides to associate with the company for the long run and continue to shop products and services.

Inviting applications for jobs

Source: Wall Street Journal

Social media platforms have now replaced job portals as the best way to broadcast job positions. All Facebook users prefer visiting their respective company pages to check various job openings than logging into job portals.

A recruiter can also look out for candidates by just studying their Facebook walls and activities that have been shared over the years or recently by the user. An employer gets a fair idea of the person’s attitude and aspirations. So, overall it benefits the potential candidates as well the human resource team.

Financial benefits

Cash1

Facebook lends support to business firms by helping them promote their activities and matching them with customers, who are willing to consume their products and services. Facebook also help in boosting demand for mobile devices and connectivity to the internet. It helps in creating positive externalities in terms of the technological infrastructure of economies across the globe.

Broadcasting yourself through social media helps business grow at a faster pace than relying on other advertising mediums such as Television, Magazines, Radio or Newspapers. The impact of social media is strong enough for a small business to outperform even a large enterprise. Startup firms like Paytm, Myntra are some of the few companies that have grown exceptionally well in the last few years. The online recharge company has touched whopping revenues of INR 337 crores in the FY 14-15 by their strong marketing and branding strategies.

Improves Brand Loyalty

Brand marketers who engage on social media channels immensely enjoy higher loyalty from their customers. If you are planning to start up a business, you should take advantage of social media to connect directly with your audience. A planned marketing strategy could help you prove influential in morphing consumers into being loyal.

Content Courtesy: myventure.in

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