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"We don't have a choice on whether we DO social media, the question is, how well we DO it."
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What is Social Media?
Social Media-forms of electronic communication (as Web sites for social networking and micro-blogging through which users create online communities to share information, ideas, personal messages, and other content (as videos).
There are so many types of social media. Three major ones are: Facebook, LinkedIn, and Twitter. Facebook is a social utility that connects people to keep up with friends, upload photos, share links and videos. Similarly, LinkedIn is a networking tool for professional connections. Also used to recommended job candidates, experts and business partners. Twitter, is a social networking and micro-blogging service utilizing instant messaging, SMS or web interface allows 140 character updates.
Today, more than ever, businesses are utilizing social media networks. Why? Because millions of people use social media everyday. What better when then to connect with your customers through Facebook, Twitter, or LinkedIn? It is inexpensive, easy to use, and doesn't take a lot of time.
When using anything there are always advantages and disadvantages. The disadvantages are:
- Legal Risk
- Multiple Platforms
- Hidden Costs
- Measuring Results
The main legal risk is false advertisement. Companies need to understand that this can happen using social media and they need to be careful what they advertise on the internet. There are multiple platforms which business can use to promote their products; Facebook, Twitter, and LinkedIn are the most popular. However, there is Pinterest, YouTube, GooglePlus, Blogger and a hundred more. Will your company commit to several or should they focus on just one. If they choose more than one do you understand how much time can be consumed maintaining it? Also, for business advertising on these main social media sites cost money. Is it worth the money? Lastly, a disadvantage is measuring the results. Experts differ on the monetary "like" of Facebook or the "follow" on Twitter. Has this helped your business?
However, there are several advantages to social media:
- Inexpensive
- Establish Brand
- Build Relationships
- Reach Internationally
- Accessibility
- Traffic
- Word of Mouth
First, social media is inexpensive compared to other types of advertisement which saves your company money. Social media helps your business to establish it branding which creates a specific identity for your service or product. Building relationships with your customers is vital in this day and age. This is a way to connect specifically with your customers on a personal level like never before. Because social media is on the internet it is out there for all people to see, including people all over the world. No longer are businesses confined to just a building, they are able to connect with their customers on the internet. On the flip side customers are able to connect with business on the internet and it is very accessible to them. Traffic is so important for businesses. Once you products and/or services reach a viral status they can be plastered on major search engines which increase marketing for your company. One of the main reasons social media is a major advantage for businesses is because word of mouth is so important. 90% of customers trust peer recommendations compared to 14% that trust advertisements. People will tell others if they liked your product and services which in turn with will create more customers if they have had a positive experience.
The main legal risk for companies using social media is false advertisement. Don't do it. Even when using social media there is an "unspoken" code of ethics that a company is expected to follow. Is it right to false advertise? No. It is very important that your business is aware of this and all your employees.
So what do you think? Is social media important for companies to embrace? Here is a short video to end this blog post. Enjoy!
Sources:
- "Social Media Networking for Job Seekers." 14 June 2012. PDF file.
- "How Small Businesses Are Using Social Media (Infographic)." Intuit Websites. Intuit, n.d. Web. 25 Feb. 2013. <http://www.intuit.com/websites/small-business-social-media-infographic/>.
- Sandilands, Tracey. "Disadvantages of Advertising with Social Media." Azcentral. Gannett,n.d.Web. 26 Feb. 2013. <http://yourbusiness.azcentral.com/disadvantages-advertising-social-media-5467.html>.
- "20 Reasons Your Small Business should Use Social Media." Blissfully Domestic. Ed. Shana Albert. N.p., n.d. Web. 26 Feb. 2013. <http://blissfullydomestic.com/life-bliss/20-reasons-small-businesses-should-use-social-media/7414/>.
Hello Anna,
ReplyDeleteI love the video! That was a great selection for your post.
It is important for businesses to embrace social media. The video you shared stated that 93% of marketers use social media in business. That is proof enough that businesses have embraced this form of advertisement.
To err on the side of caution, we as the consumer must be vigilant when it comes to the user agreements and privacy protection. I was surprised to learn that SlideShare (a form of social media used to share PowerPoint presentations) will provide my profile information internationally. That will remind me to read and reread user agreements prior to acceptance of terms.
I am in agreement regarding legal risks for businesses using social media. It is not right to false advertise. My husband experienced “bait and switch” at a local electronics retailer. It was very disappointing and when he asked for assistance, he wasn’t offered any consolation. We won’t ever shop at this retailer again. So, the question is, was it worth it to false advertise? Our purchases may have accumulated to a couple hundred dollars per year, but multiply that by other consumers who are no longer loyal and that is a lot of money for a business to lose.