Business Relationship Building
If done properly, social media can lead to great business relationship building. A key component of social media platforms such as Twitter and Instagram is the interaction you get to have with your customer base — you can see their tweets and status updates to get insights into their daily lives. This can give you an edge in adjusting your marketing strategy to suit. What products are they purchasing and why? How do they spend their weekends? What kind of posts do they love to share, and from what sources?
Social media can also be used effectively as a tool for connecting with non-competing businesses, local leaders, as well as media who cover your industry. Sometimes, vital associations can start with a simple share or re-tweet.