Week 1 – Post 1 Initial Research

Nowadays, social media is the number one daily activity amongst people across the globe. It is said that 93% of companies makes use of social media to promote their business. On account of its ever-growing popularity, having an active presence on social media networks serves a wider area of one’s target audience allowing a business to connect with the customer on a one-to-one basis.

Before jumping into conclusions on which social media networks to use it is of good practice to consider the social media pros and cons.

Pros:
• Conventional promotions may miss certain customers within the target audience, while, on the other hand social media networks allows one to easily access the company’s page, share it, post, etc. with the potentiality of communicating with an unlimited audience.
• Having a one-to-one relationship with users helps in building a brand’s loyalty and enhances reputation.
• Open communication through customer comments can lead to improving a product and/or service.
• A company can learn more about its target audience by studying visitors’ analytics and comments.
• In contrast with other methods used to promote products and/or services, social media is cost-efficient. This remains true even if a team or outsource is employed to manage content needs in social media pages.

Cons:
• Time consuming; contents must be created, edited, approved and published. A company must respond to comments as well as maintain pages.
• Once on a social media page one is open to criticism. Not having proper control on publishes and comments can lead to potential negatives.
• It takes dedication and time to build a relationship and brand loyalty.

Having an understanding of social media benefits and drawbacks helps in planning robustly, thus succeeding in broadening a company’s extent while prepared to tackle eventualities that may arise.

Social Media Examiner recently released its 2013 Social Media Marketing Industry Report, which set out to uncover the “who, what, where, when, and why” of social media marketing. More that 3,000 marketers were surveyed, and their responses provided valuable insights into the benefits of social media marketing. Wishpond, a maker of online marketing tools, created the below info-graphic that illustrates the study’s results.

top-benefits-social-media-marketing-infographic

Info-graphic source
http://www.pamorama.net/2013/06/30/the-top-benefits-of-social-media-marketing-infographic/

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