Social media has evolved from direct electronic information exchange to a virtual gathering place, retail platform, and a vital 21st-century marketing tool.
It has been around since the 1980s and more and more population of the world are going into the social media space.
Social media had since gone from desktop and laptop computers to mobile phones. This had made it more accessible to a lot of people.
According to smartinsights, more than half of the world now uses social media. 4.55 billion people around the world now use social media, 400 million new users have come online within the last 12 months. 5.29 billion unique mobile users mean more than two-thirds of the world have access to a mobile phone.
Because of the evolution of Social Media, businesses have taken advantage of this new consumer mobility by serving their customers new, simpler methods of interacting and new ways of buying goods and services.
A brand needs to have a social media presence.
This is because it is where you interact with your customers, get their feedback, and communicate with them on a more personal level.
Is Social Media perfect?
With Social Media, you reach a larger audience and build your brand.
There’s always a bad side to everything good.
Social media is good for your business because it has so many advantages. It can also have a negative effect on your business when used wrongly.
In the course of this advantages and disadvantages of social media to your business article, we’re going to explore the advantages and disadvantages of social media to your business.
Advantages of social media for your business
- Connecting with customers: With social media, you can get to know your customers better by gaining insights about them. This will help you better direct your marketing campaigns to the right audience.
- Building brand awareness: Social Media will offer your business the platform to be present in people’s lives. Once they come online, they can see your brand. With social media, a lot of people will see and know your brand.
- Building brand reputation: When you manage your brand awareness positively and create valuable impacts in the lives of your customers, they would enjoy being associated with your brand. This will lead to them telling other people about your brand and with time, your brand will stand out. Social media would help you make a good impression on your business.
- Marketing: With the advent of social media ads, your business can go to the next level. You can create a marketing campaign on popular social media sites like Facebook, Instagram, Twitter, etc. These platforms have a user data system that will help you to market to your specific target audience to make your ad more effective.
- Analysis and monitoring: Most social media platforms collect the data of their users. This will give you insights into how your consumer thinks. It also analyses your marketing goals and tells you what works.
- Social media is flexible: You can try out a lot of things with social media. You can share different forms of content like texts, videos, audio, stickers, pictures, etc. With social media, different trends come up for your business and you can use a suitable one to promote your business.
Disadvantages of social media for your business
- It is time wasting: It takes a lot of time to see results on social media and you have to wait. Your business has to spend a lot of time on social media to get an effective result. Getting the best out of a social media marketing campaign involves a lot of trial and error.
The remedy for this problem is to be patient. Nothing good comes easy.
- You can receive negative feedback about your business: Social media is where people share both their good and bad experiences. Anybody can come on your page and leave a bad review. Other people would see these bad reviews and have a bad perception of your business. This is not good for your brand’s reputation.
The remedy for this is to provide quality products and top-notch customer services.
- Risk of hacking: Your Business page could get hacked. These hackers can use your page to extort your customers and create a bad image of the brand.
The best way to avoid this is to ensure security. Turn on two-factor authentication on all your pages. Announcing the punishment for anybody that hacks your page can help.
- It can be costly: Social Media will cost you. For you to get the most out of social media, you have to invest more. Ranging from advertising to promotion to content creation to management, everything involves money and resources.
To solve this problem, your brand should always have a budget allocated to your social media activities. This will help you stay organized and avoid the risk of running into debt.
- You need qualified personnel: It takes professionals to do something well. Social media is not exempted. You need to put in your best in your brand’s social media presence and that includes involving the best people. The best people should manage your page, the best people should create your content, the best people run your campaigns etc. Finding the best people can be difficult but it’s worth it.
Always seek to bring the best people to your team.
- You’re vulnerable to competitors: Your competitors are also on social media. Everybody is watching what the other person is doing. Brands are on the lookout to outdo their competitors. This can be a problem because everything you’re doing, your competitors would see. They can copy you and ruin your plans to make your brand stand out.
You can solve this problem by being innovative. Always be the first to think out new ways of doing things. Always be the first to launch. This will give you a first-mover advantage and make you stand out.
- You’re exposed to trolls and this can lead to extortion: People can come up with negative things about your brand and ask you to pay money to clear your name. Because every piece of news on social media can go viral, this news can affect your brand’s reputation.
You can manage this problem by being extra careful with the way you manage your brand’s information. You shouldn’t give people the chance to know the things they’re not supposed to know about your brand.
In conclusion of the advantages and disadvantages of social media, irrespective of the disadvantages social media offers your business, you need to invest your time and money in social media marketing strategies. You cannot know what to expect from social media because it involves humans, and human beings evolve with time. But that should not stop you from expanding your business online. Research on how to do business better online and find help from professionals to avoid landing on the wrong side.
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