Thursday, October 13, 2011

SOCIAL MEDIA: A BOON FOR SOCIAL VENTURES



Social Enterprises are mean to address the social issues. Their main goal is to meet the cause, along with the financial sustainability of the organization. A social entrepreneur would always opt for the way to choose the cost efficient methods to meet its end. The communication and promotion are always tricky issue for such organizations. Social media provide a suitable solution for social ventures to propagate and popularize their product, services or cause without any cost. It would also get new volunteers and potential recruits who would identify themselves with the cause. This is a new boon for social organization.
Social media is a major factor in the success of social enterprises. As per a report in 'The Guardian' about a survey on Social Ventures, two thirds of social enterprises (67%) are using social media in the day-to-day running of their businesses. The majority of social enterprises around 85 per cent, social media to promote their products and services, half of them use these media for networking online with other organisations.
There are similar trends in Indian scenario as well. The social events, a caused based gathering, many time the concept of social organization start on the social media platform. The recent Jan Lokpal movement by Anna Hazare was widely popularized through social media channels. Similarly, the educational organizations are widely adopting social media to enhance their reach and popularity.
The best part of the social media is that the most popular social media channels and social media outlets are often free or low cost. These social networks include some major sites such as Facebook, LinkedIn and Orkut, these networks are widely used by social enterprises. Micro-blogging on twitter is also gaining momentum. Even big corporate houses such as Reliance and Tata, are relying on social media for their social initiatives. These advantages of social media have given the much needed panacea for social enterprises.