Using Social Media Strategy for Competitive Advantage

A social media strategy refers to the exploitation of social media resources to support a business process. The social media has Social media strategy gained immense popularity in the past two decades. It has become an essential aspect of people’s lives, and entrepreneurs are using it to gain a competitive advantage. There are around 3 billion active social media users in the world and 4.2 billion internet users. Kenya is ranked position 17 in the world regarding internet penetration where 89.4% of Kenyans are internet users. Making the social media central in corporate strategy formulation is paramount. A business that is serious about gaining a competitive edge must align operation with the prevailing social media trends. Some social media uses that can create a competitive advantage include marketing, market research, work teams collaboration, developing customer relationships, and recruitment.
Marketing
A social media strategy supports marketing operations. Marketing communication is central in marketing and marketers seek to identify the most effective channel of conveying persuasive information to the market. The social media provides a reliable way of disseminating marketing information fast and at minimal costs.
Market Research
A good social media strategy supports market research which is concerned with gathering information about customer needs that influences. Interacting with potential and actual customers through social media helps a company to monitor the changes in customer needs and tastes that support product improvement.
Collaboration in Teams
One of the team management success factors is the ability to ensure a free flow of information among the team members. Whatsapp is an ideal tool for supporting team collaboration. It provides a platform for sharing ideas and where team leaders disseminate information to the team members.
Developing Customer Relationships
An effective social media strategy enables businesses to build sustainable customer relationships. The long-term success of a business is pegged on the existence of good relations with the customers. The social media allows customers to give their feedback on service delivery thus allowing the company to respond to customer demands on time.
Recruitment
Recruitment operations are supported by the existence of an excellent social media strategy. Linkedin has proved to be a vital recruitment tool as it creates an interactive platform between employers and job seekers. It helps organisations to cut recruitment costs by providing a pool of applicants for employers to choose their preferred candidates.

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