Social Media for Business: Help or Hindrance?

Social Media for Business: Help or Hindrance?

The impacts of using social media on your business

Over 3 billion people are active social media account users.

 

Social media is an ever-growing platform which enables people to communicate from wherever they are.

 

Family members and friends post images and videos, share articles, and voice their opinions and thoughts on many topics. Not only are people communicating with those they know, many follow celebrities and 80% of people follow at least one business account on Instagram. Social media is a perfect way for people to connect with brands as all information is present in a known, comfortable environment to them.

Social media

There are many ways your business can gain an online presence: LinkedIn; Twitter; blog posts and other forums are just a small number of ways you can access the social media world. Here your business is exposed to such a large number of potential customers. However, this also leaves you open to business competitors.

 

Potential Risks

With other competitors also online, there are areas of interest relevant to your brand which can be monitored - keeping an eye on what customers are liking as well as things they feel they are missing from other businesses similar to yours, provides information that allows your own business to develop and improve. This information can aid success based on pitfalls and triumphs another company may be experiencing with their own customers. 

 

However, the other side to this is that other companies can access the same information about you, is this something you wish for competitors to see?

 

To investigate a business, you only need to Google its name. This is where sites such as TripAdvisor, can make or break a business - just one bad experience can be logged online for all to read where opinions are formed by a third party, all based on what they have not personally experienced. Although, if people are exposed to positive reviews about your business, you become known for good reasons, putting you in the best possible place for business growth to occur. The idea of internet reviews shows how it takes such a long time to build a plausible reputation, yet it can be destroyed in just seconds.

Social media

 

Social Media Business Benefits 

With many other business partners also on the market, you need to ensure that you stand out. Social media benefits a business in many different ways:

  • Brand awareness increases as more people are exposed to the concept of your business. Other similar businesses will also link to yours in ‘similar’ or ‘recommended’ sections in the media, and this is why it’s so important that your online presence is respectable, in order to stand out among competitors.
  • A real human connection is created, customers can understand your businesses’ values and ethos. Social media is often second nature to a user which might mean more people feel inclined to approach you once they’ve seen there are real people behind the front of a business.

 

Social media is undeniably going to continue being an important part of business. Yes, there are potential risks, however the benefits to using social media far outweigh any possible concerns. Customers are able to view real life feedback, both the good and bad, which enable them to make informed choices on which company to choose.

 

Overall, social media aids business growth, and allows customers to clearly evaluate potential business partners.

 

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Summary

Author:
Katie Parker
Date:
16/08/2019

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