Let’s start with none other than Twitter, Facebook, YouTube, Foursquare and countless other platforms, including social bookmarking, which is gaining great popularity. Social networks initially started out for youth who were eager to know right away what was happening. Today it is used on a global scale, regardless of one’s age. In fact, 62% of those aged 35 to 52 are social networking in Canada (Techvibes 2011). Who would have thought social media could someday support the efforts to overthrow governments and serve as a catalyst for a revolution? We can, without reservation, say that social media has fundamentally transformed the way people share information that is not only important to them, but also what they stand for.

Something we take for granted every day is that the Internet is a true democracy; it is a space where everything is welcomed with open arms. This outlet has changed the way we interact with our favourite products, or in some cases, our hated products. As a result, we are now seeing consumers make shopping decisions based on what others have said in the social media sphere. Collectively, we can say that consumers and businesses are now in a new relationship that is becoming increasingly personal. We have to understand that this is not just another fad. Consumers are now connected and expect recognition for their attention and surely, social media is a huge part of this.

It’s not the end of an opportunity

When Yelp and Urbanspoon came out, businesses were outraged that consumers had the power to give negative comments without seeing the benefits. They failed to realize that this is a free doorway into the inner workings of their company and they can use this information for the betterment of their business. When providing a great service, you are creating loyal brand ambassadors for your company – it’s word-of-mouth for the digital age. Experiences are now much easier to share with people who you have never even met. With this happening we now know that a customer inherits a business and their model. This is a new marketing force that can do so much more than any marketing campaign you have ever dreamed about.

Let’s face the plain and simple reality: you either have happy customers or unhappy customers. This ratio is entirely up to you. Add to this the fact that everyone has an audience in the digital age. What you share on social networking outlets is directly tied to how you run your business. So if you do things right, your audience will promote you or your company.

Putting social media aside, your business is all about improving relationships between your company and the end consumer. By doing the right research and adapting to social media correctly, there is no limit to where a business can go. It is now clear that even the smallest business can now pack a punch and compete with the big boys. It is time to take advantage of social media and engage as much as possible. If you are not utilizing this potent marketing aspect on the web, you are definitely losing out on great opportunities.