MGM Resorts announced yesterday that they will let loyalty card holders earn points via social media. So no longer will you have to sit at the slot machine to earn points, you can now tweet, use Facebook, Foursquare or Instagram to VIP status.
This is yet another confirmation that Social Media for business is not negotiable. Allowing your customer to be not only consumers of your product or service, but also evangelist of your brand is priceless. Social Media provides many business opportunities for companies big and small.
Social networking sites bring people together in ways like nothing before it. It easier for people more then ever to share information about products, follow, comment and share brands with others.
For businesses the social networking allows them for the first time to know what their customers or potential customers are thinking. Do they like the product? Is the service sufficient? Is there something else they are looking for? Business had to pay big money for this kind of information in the past.
Social networking draws in millions of people each year and has consistently grown year over year. With new sites popping up every few months, it would seem that the landscape is saturated. However each social site serves their own purpose and can help each unique business in a different way.
Social Media Lessons for businesses
Include business on a social network
If you’re a business and you’ve been using excuses to delay getting social, you’re running out of time. Your competitors from big to small are all out there. Why? Because that’s where the customers are.
Create an account and see what works for you. Check out what your competitors are doing. See what their customers are saying and doing.
Talk to your customers
Social media is for having conversations, understanding what your customers are looking for and answering their concerns and comments.
Power of Sharing
One of the main benefits of using Social Media as part of business marketing strategy is the ease with which the information can be shared and distributed. You could spend thousands trying to reach different types of audiences. Social networking, when used strategically, can do that work for you; as in the MGM example.
Here are some facts.
- US Internet users spend 3X more time on blogs and social networks than on email.
- Companies that use Twitter average 2x more leads per month than those that do not.
- 36% of daily internet users read 5 to 10 blog posts per day.
Having informational and share-able content while engaging on social networks can be very beneficial to your business.
Proving perks such as MGM did is one of the ways to engage with your audience. Promotions, specials, compelling content are all great things you can do for your business.
Remember that if you don’t, your competitor will, and those potential customers will turn in to definite loses.
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