Tuesday, 5 February 2013

Create Business Opportunities with Social Commerce Platforms

Social media, defined by Andreas Kaplan and Michael Haenlein (in their article - Users of the world, unite! The challenges and opportunities of social media, Business Horizons) as  "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content”, has come a long way. From being a mere information-sharing tool, social media and social networking sites are now an opportunity for businesses to connect with their customers and create new revenue models.

When social media and social networking sites first emerged, it served as a platform for people to socialize and interact with each other. They shared ideas, activities, events, and interests with each other. Gradually social media and social networking sites gained popularity and now it is the number one activity online.  As per the recent NM Incite/Nielsen report, the “total time spent on social media in the U.S. across PCs and mobile devices increased 37% to 121 billion minutes in July 2012, compared to 88 billion in July 2011.” However, the majority of people access social content through mobile apps. According to the report, apps account for more than a third of social networking time and in 2012 it increased by 76 percent, which meant consumers spent more than seven times more minutes on apps than the mobile web.

As social media gained popularity, enterprises recognized the role of social media in creating brand awareness and acquiring new customers.  Hence, from custom fan pages that raise brand awareness to ad servers that integrate with social networking sites, businesses are leveraging social media to gain new customer insights and drive greater marketing value. Moreover, enterprises are adopting social media technologies internally to provide employees with greater transparency and to inspire more diverse levels of collaboration.

As customers are embracing social media and new technologies to make their lives smoother and smarter, enterprises need innovative technological solutions that help them to increase brand awareness and create new business opportunities. Hence, they must collaborate with software product development service providers who can develop products ranging from integrated online and mobile apps to social media compliance platforms.  Here is a look at the social media platforms developed by a leading product R & D services provider.

·         Social commerce platforms
·         Social advertisement platforms
·         Enterprise social networking solutions

Thus, for any enterprise running a unique campaign, creating a new social media solution, or building an internal employee engagement system, partnering with the specialists in the field can help them develop and launch innovative products to market faster.

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