Pros and Cons of social media within business
Social media has grown in popularity with each new generation. Many people have been taking the advantage of the rise by promoting their businesses and setting up online. It has proven to be one of the most powerful digital marketing tools for brands and businesses to date. There are many benefits to marketing your business online and a few things to consider.
Audience - When promoting your business online, many people will be able to see your businesses posts worldwide. This, in turn, should bring in more clients to the people that read them. Social Media platforms such as Facebook are used by millions of users across the globe each day. What better way to get your business reputation up!
Feedback - Most Social Media sites have an option for users to comment on posts. Your business can benefit from this massively as your target market can give you instant feedback. Taking on board this feedback and listening to your target audience will help your business grow and progress.
Communication - Social Media sites usually have the option to instant/direct message other users. With this, businesses and companies can communicate one to one with their clientele, enabling them to sort out any issues and get to know their target market. Better customer relations! Due to its more personal approach, businesses that get involved with their customers online can interact on a personal level as if they were talking face to face.
Cost - Marketing your business through the use of Social Media is one of the cheapest forms of marketing. Most Social Media sites are free to use with extra options such as Facebook with their option to pay a small cot to promote posts.
Higher conversion rate - Recent studies have shown that around 91% of retail brands who use 2 or more Social Media accounts have a higher rating of sales than businesses who have no accounts.
Insight - Marketing through Social Media allows you to closely monitor how your audience behaves and reaction to your ongoing business through social media listening. You can also gain a lot of insight of what your target audience are interested in so that you can relate to topics that will keep your clients interested. The majority of businesses today, usually have at least one social media account so you can visit their sites to check out competition and see how you can possibly improve you get the best out of your businesses social media accounts.
Time - One of the main issues with using social media is time... Maintaining an interactive feed is key for good customer relations and maintaining your business. A lot of time is spent on writing content to post on each social media account. Around 58% of businesses that use social media, spend around 11 hours each week updating their content to keep their audience interested. But luckily there are digital marketing firms out there that give you the option to pay someone else to write the content for your business so you can focus on running your business.
Image - A thing to consider when posting online is content. Make sure the information that is being posted on your feed is relevant to your target audience and your business. If the content is irrelevant, this may impact on your companies/businesses image. Once something has been posted online it is hard to fully take it down so making sure the content is correct is key for a good reputation.