Last year, me and my friend were planning to set up a business research firm in India. Brainstorming various ideas on what our business model would be and how we would price our products, we stumbled upon probably the most important question. How would we target our potential customers? How would our customers know about our value proposition? That is, how would be position ourselves in the crowded marketplace? In the age of the internet and social networking, what would be the most potent way to showcase our products?
When Mark Zuckerberg found Facebook seven years ago, he meant it to be largely a website where friends would gather and socialize. But, look at the way the website has transformed businesses globally and will continue to do so over the next several years. Big multinationals can spend billions on targeting customers and positioning of brands through various marketing campaigns, small businesses find themselves at a disadvantage in this respect. Facebook and other social media channels provide them the visibility and reach.
Take for example Mona Sandhu, a small costume jewellery designer in Haryana, India. The ambitious businesswoman had a few loyal customers before she created a profile on Facebook with product descriptions. And, then, business simply boomed. She landed an order on the day she created the Facebook profile. She currently organizes various jewellery exhibitions in the US and Europe for her major clientele. Evidently, Facebook has brought her customers closer to her and helped her position her business properly in the market. Google and Twitter are other prime examples of online media channels that has enabled small businesses create a niche for themselves in the market.
These are certainly exciting times, i.e. if you are selling through online social media. Watch out for our business research company profile on Facebook!
When Mark Zuckerberg found Facebook seven years ago, he meant it to be largely a website where friends would gather and socialize. But, look at the way the website has transformed businesses globally and will continue to do so over the next several years. Big multinationals can spend billions on targeting customers and positioning of brands through various marketing campaigns, small businesses find themselves at a disadvantage in this respect. Facebook and other social media channels provide them the visibility and reach.
Take for example Mona Sandhu, a small costume jewellery designer in Haryana, India. The ambitious businesswoman had a few loyal customers before she created a profile on Facebook with product descriptions. And, then, business simply boomed. She landed an order on the day she created the Facebook profile. She currently organizes various jewellery exhibitions in the US and Europe for her major clientele. Evidently, Facebook has brought her customers closer to her and helped her position her business properly in the market. Google and Twitter are other prime examples of online media channels that has enabled small businesses create a niche for themselves in the market.
These are certainly exciting times, i.e. if you are selling through online social media. Watch out for our business research company profile on Facebook!
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