Business
16 Pros and Cons of Social Media That Will Affect Your Business Growth
I grew up in a world that is known for making leaps in technological advances and hailing with the benefits of social media. Today from fun and excitement to learning and making business deals, everything is done through social media platforms.
It has become imperative for everyone to be active on social media to ensure success. The last two decades are proof of the influential impact of digital networks on individuals, societies, and businesses.
The simple definition of social media is that it comprises of websites and applications that allow user participation, creating and sharing user-generated content.
To take advantage of a fast, inexpensive, and efficient way to connect with the global audience, let’s dive in and discuss the pros and cons of social media to engage and expand your growth.
A Brief History of Social Media
Do you know that “Six Degrees” was the first social media site founded by Andrew Weinreich in 1997?
Today social media channels are growing at an exponential rate. Facebook is considered the top-ranked social media network. This all does not happen overnight.
Daily we spent almost 135 minutes using Facebook, Twitter, Instagram, or WhatsApp. We can’t imagine our lives without them.
From Six Degrees to Facebook, the last two decades have introduced people to Friendster by Peter Chin, Jonathan Abrams, Dave Lee in 2002, LinkedIn to connect businesses in 2003, Facebook by Mark Zuckerberg in 2004, YouTube in 2005, 2006 boomed with Myspace, 2010 with Twitter and 2011 with Snapchat, the sensation of every teenager.
The list goes on, but Facebook remains irreplaceable with 2.38 billion monthly active users and bold changes to the platform.
What Are the Different Types of Social Media?
Being a social media pro, you must be well aware of social media networks, sharing sites and also about Pinterest and Google Plus. But there is much more to know about making the right choice of platform for social presence to seize opportunities.
To assist you in selection of appropriate platforms, this post will serve as your guide about various prominent kinds of social media and examples under each category.
1. Major social networking platforms
- Facebook – 38 billion active users
- Twitter – 126 million daily active users
- LinkedIn – Over 500 million users
2. Media sharing networks
- Instagram – More than 500 million daily active users
- YouTube – Over 1.9 billion monthly active users
- Pinterest – 250 million active users
- Snapchat – 190 daily active users
3. Social blogging networks
- Tumblr
- Medium
- WordPress
4. Discussion forums
- Quora
- Digg
5. Consumer review networks
- TripAdvisor
- Zomato
- Yelp
6. Social shopping networks
- Fancy
- Polyvore
- Etsy
“I use social media as an idea generator, trend mapper and strategic compass for all of our online business ventures.”
— Paul Barron
8 Advantages of Social Media
Social media can connect you with more than 3 billion people across the globe. Undoubtedly it is the modern-day genie of this digitally revolutionized world to help you engage and expand.
These top 8 benefits will help you understand why social media presence is a must for success.
1. Brand Awareness
Social networking websites are the commanding tools to boost business visibility. It gives a profitable and stress-free digital marketing by networking and targeting your potential customers.
You can see significant improvement in your brand visibility and user experience by spending a few hours on social media weekly. It will monetize your brand and place you on top.
2. Economic Strategy
Are you looking for cost-effective marketing strategies?
If you are nodding your head in affirmation, then social media platforms are the best place for devising a beneficial action plan. Many platforms allow users to create a free account.
You can save your money for utilizing on paid promotions across various platforms to bag conversion rates.
3. Clients Engagement
Use social media for regular interaction with your customers. Effective communication leads to profitable results. Humanize your brand and convey its message to the masses.
Listen to their demands, know their needs and build long term relationships with your customers. Moreover, utilize social platforms to actively respond to their queries and win their confidence.
4. Improved Customer Satisfaction
Social networking sites are the voice of your business. They play a vital role in creating a better image of your brand. The way you handle your customers promptly, it helps to accomplish customer satisfaction.
Instead of giving built-in answers for their queries, take some time to give personally composed replies for leaving positive effects on them to excel in customer service.
5. Market Awareness
Be mindful of your market and keep an eye on your competitors. In case they are sloping up their content generation, alter your policy to make some buzz.
Try to be one step ahead than your competition to gauge the nerve of the buyers. Social media is potent in grabbing a substantial number of followers to counteract the contest of being the best.
6. Brand Loyalty & Credibility
Sync your social media pages with your online business for customer retention. Their satisfaction and loyalty come hand in hand. Coordinate and establish a special bond with them.
In addition to this, help desks and service channels facilitate customers for direct communication with businesses.
Regular social updates will make them feel cared for and enhance the credibility of your brand in their minds.
7. Drive More Traffic
Create compelling content to generate more traffic. If your social media posts attract the interest of the visitor, it will make him click on your website link.
The quality content makes the chances of traffic generation and the possibility of a higher conversion rate brighter.
8. Fast Communication & Reputation Management
This is the era of hashtags and going viral. Communication builds reputation and promotes sales.
If someone criticizes you or your products on social media, tell your side of the story to your audience in a professional manner. If someone praises you, make him feel a valued client by saying thanks and sending warm wishes.
“Social media allows big companies to act small again.”
— Jay Baer
8 Disadvantages of Social Media
With numerous pluses of social media, some minuses negatively impact users and businesses.
1. Cyber Bullying
With the predominance of social media and digital forums, cybercrimes are increasing day by day. Many young girls and boys are falling prey to cyberbullying every year.
Texts, pictures, and rumors can cause chaos and discomfort in society. Sharing someone’s personal information can result in embarrassment or humiliation. Mostly fake accounts are used to taint an individual or business’ image.
2. Privacy Issues
Our behavior is our reflection. Through regular check-ins, browsing history, interaction on social media, it is easy for everyone to know about all the details of our lives.
Personal and private information is not secured. With just a single click, even the strangers can get details about you.
3. Psychological Problems
Digital platforms are becoming major reasons for mental illness. Too much use of social sites is resulting in depression, anxiety and loneliness.
Especially the youth is facing a lot of problems because of the unnecessary use of social media. Losing appetite and weight, disorderly life and behavior are some of the major issues prevailing at an alarming rate.
4. Addiction
Social networking sites have glamorized alcohol and drugs. Youth, on the name of adventure, and being a follower of their social media roles, models get addicted to harmful substances.
They get addicted to checking social media for hours without being worried about their education or profession. Addiction to check newsfeed and posts is common than ever nowadays.
5. Frauds and Scams
Billions of fake accounts on Facebook, Twitter and Instagram, are deceiving people. Fraudsters make them appear true and reach many people at minimalistic cost.
Criminals are easily adaptable to new technologies and social media is no exception for them.
6. Reduces Family Closeness
Siblings prefer to spend more time on the internet than spending time together. It has made us alienated.
Sitting in the same room, my brother and I spent more time on screens than talking to each other and sharing some quality moments. Couples are cheating on each other.
7. Creates a Deceptive Self Image
We tell lies about ourselves not only to others but also to ourselves. We portray such an image, which is not ours.
We rely on imaginative thoughts rather than remaining genuine to who we are. We share the best looking pictures on social media and show that everything is picture-perfect in our life.
We all hide real identities and make a deceptive image.
8. Distractions
With the phone in our hands, we forget everything. Friends on Facebook, followers on Instagram and Twitter or subscriber on YouTube channel make us feel important and famous.
I remember that there is always a race among my friends who have more friends and followers on social media. But the truth is that we all end up by talking less and communicating more through texts.
Cell phones are the major reason for creating distractions.
“Successful companies in social media function more like entertainment companies, publishers, or party planners than as traditional advertisers.” — Erik Qualman
Bottom Line
Everything, including social media, has pros and cons. The best approach towards anything is moderation. Too much time on social media can affect your mental and physical health.
However, completely ignoring social media’s role in the contemporary world can result in the loss of great opportunities. So, it is essential to create a healthy balance and use social media wisely.