The Social Media Marketer

3 Ways Social Media Helps Consumers Save Money

Tweet

 

For businesses that offer products and services to a wide customer base, the ability to help those consumers save their hard-earned dollars is a must. In an economy that is more down than up, consumers are drawn to savings and a perceived increase in value like a moth to a flame - successful businesses know how to market to that draw, cultivating an environment that is beneficial for both them and their customers.

As many businesses have an online presence, the emergence of social media marketing tools and tactics tops the list of things that can be extremely helpful in the money-saving arena. Here are three ways that your company can harness the power of social media:

1. Understand the power of networking persuasion. Community and opinion-based forums such as Facebook and LinkedIn are hotbeds of referral activity just waiting to be used for your company's good. If you have a great product or service and are willing to spend time sharing your passion with others, then you can quickly expand your community of company enthusiasts.
   
   As people start to learn about what you have to offer, they will start sharing it with their contacts as well, giving you access to people that you may otherwise never have had a chance to communicate with. As a general rule, people are more likely to work with a company that has been recommended by someone they know versus working with a company they know nothing about. By putting your name out there and letting social media work for you, you greatly increase your chances of growing your customer base, and new customers gain the value of doing business with a recommended company.
2. Utilize the allure of offering online deals and specials. Groupon, LivingSocial, and many other coupon sites know something amazing: offering one-time stellar deals to a wide base of people, many of which are referred to their savings websites via social media venues.
    
   They know that people LOVE to get a steal of a deal, and they also know that a company can afford to offer killer discounts on select products when a large amount of people are cashing in on that deal, since it boosts sales on other items and services as well.
3. Social media is growing and changing, allowing you to offer unique things to your customers that remain relevant to them and their needs. Want to do something innovative and fun? Try using social media to promote it. Looking for a new idea? Put the word out on social media networking sites and see what comes up.
   
   By keeping tabs on the online social buzz, you will be able to feel the pulse of your target audience, allowing you to know what motivates them, what entices them, and what speaks to them even as the economy and society as a whole continues to change.