How Social Networking Sites Can Change Your Financial Life

No one could have seen it coming until the finish of the twentieth century, but social networking websites are assuming a noteworthy part today in everyone’s budgetary life.

Social networking platforms have really grown up in their roles from being simple facilitators of connecting people together to stepping on the verge of becoming the money suppliers of tomorrow.

In line with an extremely fast-moving marketplace, this is how social networking is changing your financial life:

From Customer Service to Customer Engagement

  • Social sites are evolving from mere facilitators ofcustomer service to providers of customer engagement.You can now connect easily with banks that have got out of their comfort zone cabins and have started connecting to the customers in a more informal manner.

  • You can now get easy-to-understand solutions online on any financial topic. This in turn helps a good will and trust to develop between you and the company you are dealing with online
Fig: You can get instant reaction to your financial complaints

  • Several financial services are using global social media sites like LinkedIn and Twitter to reach out and respond to customer queries. In India too, social sites have come up that go beyond providing general stuff like music or high resolution wallpaper to providing a Biz-Zone for professional networking and gives a chance to get jobs and make a career.

  • With the use of hashtags, you can also get regular educational material about any changes to financial regulations, product offers and launches

From Interaction Based Centers to Money Making Sectors

  • Social network in India is now breaking out of the mold of pure interaction based centers to money making sectors. It is becoming a resource unto itself.

  • It is giving a chance to monetize or make money by allowing you to showcase your talent to the world.For instance,if you are a musician or singer then you can upload your original songs online and let the world hear them. The more people play your numberonline, the faster you can fill your pockets with cash!
Fig: You can earn money from home by presenting your skills online

  • For anybody who wishes to become an entrepreneur or currently is, it is vital to know about WEB ADVERTISING and FEES online. This is again an interesting way of making money.
It works in the following 3 ways:
  1. The more popular the website the easier it is for you to make money by advertising. Advertisers pay more if your web portal has a large number of visitors
  2. You can also charge a subscriber fee from users and give them membership along with additional features which free subscribers will not get
  3. Incorporating a Developer’s Fee can help generate revenue. Developers can create applications and you can ask them to pay a premium fee for their apps to be incorporated to your site.

From Traditional to Digital Loan Lender

  • A big shift has happened for those who wish to do business but don’t have the time to run to banks for loans. Social networking websites are being used by moneylenders to credit rate candidates. For example,China has even given its site, Alibaba, the credit information department licenses.
Fig: You can get easy loan online to start your business
  • An initiative like ‘Make in India’ requires the ‘Ease of doing business’. Moneylenders are currently utilizing online networking to credit rate candidates, and they are approaching individuals to utilize web-based social networking for references, which means more people are getting credits who might not have been given a moment’s look previously.
Share your experiences about social networking in the comments section below. It will really interesting to see how you perceive this topic. And, thanks for reading!

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