This blog will highlight the positive and negative impacts of social media on Business.
Social media has been a catalyst of change for the way millions of people communicate. https://blog.hubspot.com/blog/tabid/6307/bid/6244/7-Reasons-Social-Media-Is-Bad-for-Marketing.aspx#sm.0001jt6cuyddrd36w6s2pf1qh7ux3. Social media users are growing day-by-day. There are over 3 billion internet users—and over 2 billion of them have active social media accounts. https://blog.hootsuite.com/social-media-for-business/.
Facebook is a two line interaction which helps companies and organizations to utilize its platform to connect with their customers or audience. There are over 600,000 regular users worldwide using Facebook. https://www.singlegrain.com/blog-posts/impact-of-social-media-in-todays-business-world/. Social media is a great platform to run your business in terms of advertising your products and staying connected with your customers. It is with the help of social media, the companies got another new way to run their online business. It helps them to stay connected with their customers instantly which also build personal relationship with each other.
Some of the positive impacts of social media on Business are:
- Information on social media web moves faster– the digital media has made it more simple and faster way for the businesses to get their information out to the public instead of waiting for the next day to advertise it in newspapers. It is much easier to share content which reaches to the customers and targeted audience.
- It has increased customer power– if customers are happy with your company’s products, they can also influence others to shop with your company and benefit from the services. Positive customer comments and reviews will increase your company’s reputation and sales. Good publicity also spreads very fast with good customer reviews.
- It builds good relationship with your customers. Social, media is a two way platform. If your brands or products are good then it helps the company to maintain good relationship with their customers. If customers are satisfied with the brands then it helps your business to grow faster and maintain your customer’s lifetime.
- It also increases exposure– social media is a way to stay on top of your customers mind. This will also help you to maintain your current customers and also attract new customers.
- Plenty options– Before the businesses were having only limited ways to advertise their business such as radio commercial, TV or a print advertisement but now thanks to the digital media where the business gets more options to choose from. The business can advertise on social media platforms or even create their own web-sites. http://smallbusiness.chron.com/positive-negative-impact-digital-media-business-20910.html
Some of the negative impacts of social media on Business are:
- Information moves faster on social media- Social media has become a greatest media platform for customers to complain about the business. The more complain you get, the more your companies brand will suffer. Negatives comments from customers may put your business in risk because social media platforms reach more than 30 people in one minute. Negative reviews will allow other customers to think not to purchase anything from a company they have heard a bad thing. It is easy to raise your voice by just updating a status or by tweet. https://moondogmarketing.com/the-negative-effect-of-social-media
- Bad publicity spreads too- Repetition of a company’s business is very important therefore negative reviews and comments about your company or even inappropriate posts on your account can cause damage to the business.
- If any information is accidently released which was supposed to be confidential, can also be harmful to your business. Once information is put on social media, it cannot be easily taken away because information spreads faster on web. Even if a mistake made on social media is hard to correct or fix.
- It is also your employees who represent your brand image. It is hard to control and monitor your employees on social media but it should also be their responsibility that they should not post any information about their companies matter unless they are given authority.
Facts and Figures
Only one in seven companies has a formal process in place for the use of social networking in their businesses, a survey by Cisco Systems Inc. revealed in 2010. The same survey also noted that only one in five companies has established a policy about the use of social media. This lack of formalized attention is unfortunate considering the varied risks and negative effects on business that are associated with social media. http://smallbusiness.chron.com/negative-effects-social-media-business-25682.html
Social Media Examiner’s 2015 Social Media Marketing Industry Report holds valuable insight into how marketers are incorporating social media, how much time they’re spending and what is on the horizon. With 92% of marketers reporting that social media is important to their business, it’s clear that marketers believe social media holds weight, but what is the true impact on their business?
What other benefits made the top ten lists?
- Improved Search Rankings – 58%
- Grown Business Partnerships – 55%
- Established Thought Leadership – 55%
- Improved Sales – 51%
- Reduced Marketing Expenses – 50%
Top 3 Most Important Social Platforms for Marketers
- Facebook – 52%
- LinkedIn – 21%
- Twitter – 12%
http://www.toprankblog.com/2015/05/report-social-media-marketing/
In my opinion, social media has changed the way companies do the business online. It is indeed true that social media is one of the best way to advertise your business and connect with your targeted audience. It helps to create awareness and engage with the users. We also cannot avoid the fact that social media has negative impacts on businesses. In order to avoid these negative impacts, the business should know how to handle matters professionally with causing any harm to the business and your customers. It is important to always avoid posting something which is sensitive to your customers. Social media helps to grow your business and engages you with your audience which extents your business. The only thing a business can do to maintain its reputation is to develop their monitoring skills (Monitor, Respond, and Repeat).
Take action now before it’s too late.
Follow this blog: 50 Ways Social Media Can Destroy Your Business https://blog.kissmetrics.com/social-media-can-destroy/ which provides detailed information with examples.
https://moondogmarketing.com/the-negative-effect-of-social-media
http://smallbusiness.chron.com/negative-effects-social-media-business-25682.html
https://www.revechat.com/blog/7-negative-effects-social-media-may-business/
http://smallbusiness.chron.com/positive-negative-impact-digital-media-business-20910.html