We are in the 21st century, and there have been much advancement in every sector. Media has emerged as an important factor due to the invention of machines like the radio, television, computers, etc. unlike earlier, information and messages can be shared across distances in a fraction of a second.
What is a business?
Business in simple words is the exchange of goods and services between the enterprise, firm or an organization and customer. It is one of the oldest modes of earning money. It can be between two individuals, two organizations or between an individual and an organization.
Social media & business
Social media has had a huge impact on our lives and has a deep connection with the business. Social media sites like Facebook and twitter has made the way of communication very easy. Apart from this, there are other facilities also like video calling. Development of these social media sites has encouraged many businesspersons to use social media for business. Social marketing is an important marketing tool and cannot be neglected by businesspersons. It directly affects the sales of the organization. There are many businesses firm in the social media. E-commerce, a sector that is developing so fast is also a business start-up.
Social Media as a Marketing Tools
Businesspersons and marketers have found social media as a significant marketing tool. Before the development of social network sites, email was the main source of promotions. Emails were sent to thousands of users to market their products. It was known as email marketing. Email marketing was time taking and required a lot of attention. However, with the development of social networking sites you can reach out to millions of users at once. This feature of social networking has led to its popularity.
Advantages of business in social media
Social media has revolutionized the medium of communication and businesspersons are adopting it to establish their business and achieve new heights. There are many advantages of using :
- Businesspersons can interact with their clients.
- It provides a platform to businesspersons to market their products.
- Save time.
- Quick information sharing.
- Helps to understand the demand in the market.
- Increase website traffic.
These are the advantages of doing business in social media.
Disadvantages of business in social media
Along with the advantages, there are certain disadvantages as well like –
- Negative feedback from the customer are public, creates a bad brand impression.
- Promotion tracking is not possible on social sites.
- Finding the best way to interact with customers can be tricky sometimes.
- Small business persons may hesitate to invest time in social media.
- Choosing the best social media from the large pool of its kind.
At last, I want to say that social media has not only provided new ways of communication, information sharing, and many more but has opened new ways for organizations and businesspersons to establish their business and take them to great heights. Social media like every technology has its own merits and demerits, but we need to accept the merits and try to minimize or neglect the demerits.