Firms can use social media to conduct a conference with potential clients and also save on travel expenses. They can hire new employees by conducting interviews and demonstrate their product to potential clients by using video conferencing. For a new firm which is looking to enter into a competing market, improved technology helps them to minimize expenses and increase profit and productivity. Along with social media, video conferencing can be used as an effective business tool to get in touch with customers and employees living beyond their geographical zones. This not only saves money but also travel time.
Nowadays candidates like to interact with executives of a company before they apply for a post. They like to gather as much information as they can before they decide to apply in a company. Through this interaction, they can decide if a company is being honest with them. A company has to interact with them to ensure that they exist and are not a hoax.
A firm which does not have an office in every city of the world can attract customers using popular social networking sites such as twitter or Facebook. It can post updates about product launches and events in order to increase traffic flow. In this way it will not only increase number of potential clients but also popularize it’s name with minimal expenses at it’s own disposal.