Social media is a web based sites or web based communication tool that allow people to interact with each other, share a lot of content, express their views, promote their product or services. Some common social media platform are Facebook, Instagram, LinkedIn, Twitter, Pinterest. People or business are so dependent on social media because almost more than 70% of population across the globe are into social media and there is a frequent use of social media. so it is easy for a brand or business to promote their product/service, to connect with their customers and also people are on social media due to their personal use.
If we talk about personal use of social media, there are several benefits and that are Social media network and instant messaging service is much cheaper than telephonic communication. Identity buildup on social media platform. You can learn all about social media by doing Digital Marketing Courses in Pune.
For business social media plays a vital role and here are some benefits of social media for business-
1) You can attract new customers, get the feedback for customers about your product, brand or service and build customer loyalty.
2) You can increase your market reach including international market.
3) As compared to traditional marketing, marketing cost is reduced because of social media.
4) You can increase your revenue by building customer network and advertising of your brand.
5) You can grow your brand, increase your site reach.
6) Social media can increase traffic to your website and improve its search engine ranking.
7) You can use of social media posting to announce upcoming product, upcoming events or anything related to your brand.
8) The use of hashtag makes easy for your brand/business to reach up to several other people on social media.
9) Social media influencers can help your brand/business to grow and help to build your networking group.
10) People who follow you since a very long time, who are your clients then they refer you to others who become your client and this way social media can work for lead generation.
If there are benefits of social media, then there are also some risks of social media. Some risk of social media-
1) Misunderstanding about brand or business can easily arise when people share their views or comment on any post or content.
2) If something went wrong related to product or brand, then public humiliation is a possible consequence of it.
3) Risk of using personal information related to your brand or business on somebody else’s account and posted in wrong way, then there is risk of getting negative feedback from people.
4) If your social media account is not actively managed, not able to post daily or connect with people on regular basis, then you may not see any real benefits.
To Conclude, social media is important for business to grow, it is a useful communication tool, so use it wisely to avoid the potential pitfalls.