Social media is a large part of the world we live in, especially in the business world. It seems like every company has a social media presence, no matter if they’re big or small. It makes sense considering how many users are on social media platforms scrolling for new products and services. Social media is one of the best places for businesses to be because users spend so much of their time on these platforms. Traditional ways of business advertising are on the decline, with magazines and newspapers on their way out. There is no sign of social media slowing down, so it is important for businesses to make their mark now and get their names out there. This article will explain the pros and cons of social media for businesses.
The Pros of Social Media for Businesses
Most of the talk about social media for businesses is all positive because of the tremendous benefits it provides to both big and small businesses. Here we will list all the pros that social media offers to businesses and why you should partake.
Immediate Feedback and Access to Customers
Social media allows businesses to constantly be in contact with their client base. The reason this is positive is that you can immediately see how people respond to a post, product, or service your business launches. This makes it more efficient to see what is working for your company and what is not, so you can plan better in the future. You will be able to know what it is your base best responds to and post things according to that. Before social media, you would have to wait and see how customers reacted to a product or service your business offers. It would take time to see how consumers felt about a product. With social media, if something is not working well, businesses can immediately pivot directions and change strategies. This saves companies valuable time and money.
Increase Brand Awareness
Businesses can perfectly curate their image and how they want to be seen by the world on social media. Social media pages for businesses are perfect to carve out your niche and build your brand. This in turn builds brand awareness because it can make your business distinct and easily recognizable. A business on social media can grow its following organically by producing content on a regular basis and engaging with followers. You can use a variety of social media channels like Facebook, Instagram, Youtube, and Twitter to create a conversation and get people talking about you. Companies have so much control over how they are viewed in the public eye with social media.
Accessible Ad Opportunities
It is relatively simple for a company to place an ad on social media platforms like Facebook and Instagram. You can effectively reach your target base with these ads. The settings on these social media advertisements allow you to filter for age, location, gender, profession, lifestyle choices, online behavior, and even more. With these filters, you can curate these advertisements to best grab the attention of the potential customer and create a sales conversion. Social media ads can instantly show users the product or service your business is offering. These ads are much more affordable than Google Ads, making them more accessible to small businesses.
Customer Service and Support
The ability to be in constant contact with your clients allows companies to provide immediate customer service. A big part of good customer service is timeliness and resolving an issue quickly rather than leaving a frustrated client to remain upset. The longer a client is unhappy with the company, the more likely it is they will have negative feelings towards the business. If this is left too long, a customer might be lost. The reason why social media is such a helpful tool is that companies can help resolve a problem instantaneously. Businesses can utilize an automated chatbot or a real person in the chat to assist customers, which then creates more happy customers.
Platform to Reach International Customers
The reach of social media is expansive and knows no borders, so it allows businesses to be seen by those in foreign countries. This increases the potential customer base and the possibility of expanding your business. If you have a product that has received praise and can be delivered, then you can sell all across the world. The correct advertising and positioning on social media can attract potential customers in other countries.
More Inbound Traffic
More products these days are being advertised and sold online, so with your business on social media it makes it more likely that your website’s inbound traffic will increase. The more people aware of your business due to social media, the higher the chance that more potential clients will visit your website to peruse or purchase a product.
Utilize User Created Content
The biggest benefit of user-generated content is that it acts as effective social proof. As a business, it saves you time, money, and labor while supporting your brand. You can ask customers to write a review or testimonial in exchange for a product, service, or participation in a contest or survey. This engagement benefits the business because it builds customer relations and helps the company gain more potential consumers. It is a win-win scenario. Users get their content highlighted and companies get a good showcasing of their product.
The Cons of Social Media for Businesses
While there are many great upsides to social media for businesses, there are some negatives that are out of your control. Here we will list and explain the possible downsides to the use of social media for businesses.
The Potential for Negative Feedback
On social media, both good and bad reviews are available online for everyone to see. This could potentially harm your business because oftentimes users only pay attention to the negative reviews. You will always get some unsatisfactory reviews since it is impossible to make everyone happy. One way to remedy this issue is to respond promptly and sincerely to these negative reviews to demonstrate your company’s commitment to its product and good customer service.
It Is Time-Consuming
Your business cannot build up its social media overnight. It requires a time commitment in order to work its best. So your company will have to spend time to grow its social media and learn the ins and outs. Social media does not have an immediate payoff and involves constant upkeep and staying on top of trends. In order to organically grow your company’s social media and have an engaging audience, you must build it up over time. Your business might have to hire a social media expert to complete this work to actually grow your company’s social media pages.
Have to Keep Up with Trends
There is always something new happening on social media. For a company to be successful in this sphere, they need to have fresh, relevant content. In order to keep and garner attention from the masses, it is important to maintain a balance and not post anything too risky. This could lead to negative attention towards your business and make you lose credit on social media. The ability to properly keep up and follow these trends also requires skilled experts who are knowledgeable of social media. Trends online change so quickly and something that was hot one week can be irrelevant the next when a new fad comes in.
Social Media Is Not the Best Fit for All Businesses
There are some types of companies that are not best suited to promote themselves on social media. An example of a business that would not work well is one that involves customers making a one-time purchase. Also, businesses that advertise controversial things like weight-loss supplements or advertise dangerous products to a younger crowd could receive a lot of backlash. On Facebook and Instagram, there is a list of prohibited hashtags that could impact certain businesses. So if you have to make sure that the products or services that your company offers are right for social media.
You Cannot Reach Every Target Segment
If you want to reach an older crowd, then social media is not typically the place to do this. Traditional media like magazines and flyers are a more effective way of getting to this demographic. There will always be a segment you can not reach on social media so you will have to utilize other means.
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