Before starting to use this approach, you should know what are some of the pros and cons involved, as it's very easy to get carried away.
Social media can help you to know what are people's perceptions of your business, and increase interaction with clients and customers. You can also use it for promotional giveaways, mobile applications, and advertising.
Social media has the potential to cause your business to:
• accelerate the movement of traffic to your website and improve its ranking in search engines.
• set up customer networks and promotion to up revenue
• carry out market research and cut marketing costs
• improve pm the way you conduct business by swapping ideas
• build your brand
• take on specialized staff through job networking websites like LinkedIn
• enhance your market reach, as well as global markets
• attract customers, nurture customer allegiance and receive customer feedback
Social media will not be fitting for all businesses. If you are unprepared and launch your social media presence without planning, you will, most likely, end up wasting valuable time and money.
Please be mindful that:
• deceptive or incorrect claims made on your social media (by a client, a customer, or your business) can be challengeable under consumer law. You could be penalized if a customer fan posts inaccurate or false information that's mostly competitor-related
• neglecting to vigorously manage your social media presence can result in zero benefits
• social media is immediate and requires monitoring daily
• you may have need of added resources to manage your presence online
• not having a clear strategy for social media or marketing will result in no benefits
Whatever risks there might be, having a social media plan and organizing your procedures and policy prudently beforehand can aid you in managing them.