Given that there are more than 3.5 billion social media users worldwide (which is equivalent to 42% of the world population), more businesses are adopting social media marketing these days than ever.
But with all the benefits social media offers to businesses, it is not without its bad sides.
In this blog post, we are going to talk about the advantages and disadvantages of social media for your business.
Initially, social media was used as a tool for interaction among people, but with time, it became a tool for businesses to connect with target customers and promote their products or services.
Let’s get started.
Advantages of Social Media for Your Business
Increased Business Visibility
These days, almost everyone accessing the internet has a mobile phone and 54% of these are using social media to discover products or services.
Social media is an affordable marketing channel compared to other traditional methods of marketing and can be used to put the word out to the world.
As a rule, business owners are required to create business profiles then work hand-in-hand with business partners, employees, and sponsors to get people to know that they are open for business.
When people interact with your social media posts, they share them with their friends, so many people get to know that you exist.
Better Customer Service
63% of customers expect businesses to offer customer support through their social media networks, and 90% of customers have had their problems addressed by businesses via social media.
Social media was developed for people to connect and socialize but it has now become a good communication channel for both businesses and customers.
Customers these days expect to hear from brands immediately or within a short period. Besides, customers hate automated responses.
If you can reply and acknowledge your customers as they interact with you on social media then you can increase brand awareness and build a reputation.
Social media marketing is more affordable than traditional marketing. Almost all the social media channels allow businesses to create accounts free and if you decide to promote your content using paid promotions, the cost is much more affordable than other marketing channels.
This is not to mention that apart from being cost-effective social media generates greater ROI.
Enables Businesses to Create Organic Content
Posting anything on social media is free and this is a huge benefit for businesses especially startups.
According to Essaywritinglab- one of the best UK essay help providers, posting organic content helps your business to connect with a wide audience without paying a dime. And this is perhaps the main reason why no business can ignore the power of social media.
The good thing is that when it comes to posting content, you are not limited to images. You can also post videos, infographics, GIFs, etc. all this to attracting and engaging your audience.
Drives Traffic to Your Product Pages
Almost all social media platforms allow users to include links to websites. If you want your audience to know more about your business, you can create compelling content and then share in on social media with a link back to your website.
When a user clicks on the link, they are taken to your site so they can learn who you are, what you do, your team, etc.
This is the best way to let your customers understand your business.
Better Conversion Rates
When people discover your business, it becomes much easier to convert them into real buyers. The blog posts, videos, images you share may make people want to know more about your business.
People prefer to do business with other people and not businesses.
And when you interact with your target customers you create relationships.
Improved Brand Authority
We mentioned above that people prefer to do business with other people than companies and when prospects see your business sharing content and responding to people’s comments, you establish credibility.
By interacting with your followers regularly, it shows that your business cares about what they want and is reliable in times of need.
When customers are satisfied with your business, they will become your brand ambassadors, which is a free advertisement for your business.
This is the other side of the coin, let’s turn it and see what is on the bad side.
Disadvantages of Social Media for Your Business
Social Media is Involving
With social media, if you don’t engage with your followers, you lose, if you don’t monitor people’s actions, you will not provide value for them and this all requires you to be active on channels your prospects spend most of their time.
Also, social media keeps on changing frequently and requires one to stay updated. Besides, social media users expect to hear something new from businesses which can be tiresome for marketers in the long run.
Security and Privacy Concerns
Just the other day millions and millions of data were leaked on Facebook. This, is especially risky, given that when using social media to advertise your business you are required to provide your personal and public information which when exposed leaves your business at risk.
The fact that you will need to commit your time and effort on social media to get better results invalidates people’s perception that it is free. Besides, even if you can access free or affordable social media tools, you will still have to devote your time to achieve your goals.
Can Damage Reputation
Social media is an open field where anyone can post anything about everything. This means that your presence there is no different from exposing yourself to both the good and bad people.
Besides, some people are out to tarnish other businesses. This is especially hurtful if your business is still struggling to grow and you are hit with negative comments.
It’s a Long Term Investment
With social media marketing, it may take long before you start to see promising results. If you are looking for quick results then social media might not be for you.
Need Some Expertise to See Good Results
Of course, anyone can create a business profile on social media but everyone can benefit from it.
To use the platform profitably, you may want to get some classes and if you don’t have the time then you will have to hire qualified personnel, which is an addition of cost on your business.
Publicity May Work Against Your Business
Even though brand awareness is good, social media marketing exposes you to your competitors who can study you and beat you with your strategies.
Advantages and Disadvantages of Social Media
Whether social media is good for your business or not will depend on your social media marketing goals. Even though social media helps to boost your business, it’s important to consider its effect on your business before adopting social media marketing.
Note that, the advantages and disadvantages of social media we have discussed above should serve as a precaution and a motivation for you to ponder before you start using social media for your business.