Also posted on Podcamp Pittsburgh
Social media is becoming one of the main tactics of marketing, but its popular initiative can be useful and successful not for all the businesses.
Before taking the decision about an implementation of social media into the companyâ€™s activity, the organization should think about pros and cons of such innovation: it will give an understanding what some of the main benefits and challenges of this marketing tactic are.
Social Media is cheap or even for free!Â Social media can be a very economically effective marketing strategy. Using such social networks as Facebook or Twitter advertisements the company can get most of the social media marketing done with for a very low cost or totally for free.
However Social media may be free in advertising cost itÂ requires continual time and effort in order to create a positive and relevant presence of the company. The time spent on this activity can be for initiatives which may suit the company business better. If the company can not set aside the resources and time in order to support its social media accounts then it isnâ€™t a useful initiative.
Social media can assist in creating buzz around the company.Â News is spread quickly in the sphere of social media and this can help to create an engaged audience for the brand of the company. Social media creates a platform for free publicity for new resources, products, and so on.
All news is not always good news.Â Sometimes news is spread too fast for the company to keep up with the reactions from its followers. Any person can have a voice and he can use it to offer its opinion about the organization, with or without its consent.
Social media can help the company to improve relationships with its current customers.Â It can help increase purchase frequency of current customers and strengthen relations.Â The companyâ€™s customer relation levels can increase based on relations nurtured with the help of social media.
Social media is not perfect for customer acquisition.Â In the case, when the companyâ€™s main goal is to immediate and quantifiable results for customer acquisitions it may not get the results it would like.
These are few of the big quantity of pros and cons of social media. The company that wants to use social media in its activity should remember that all businesses are different and while social media may be an effective marketing channel for some, it does not necessary mean that every business should just jump right in! It takes time and commitment the same as every other marketing strategy that is used by the company.