The Benefits and Risks of Social Media Marketing

The Benefits and Risks of Social Media Marketing

Definition of Social Media Marketing

The use of social media websites and social networks to market a company’s products and services. Social media marketing provides companies with a way to reach new customers and engage with existing customers (Radcliffe, 2017).

How Social Media Marketing can be used

Value comes not from the platform itself but from how a particular social media platform is used. More importantly, social media applications have the potential to provide additional value beyond familiar e-commerce activities such as distributing content or driving sales because they enable the formation of online customer communities (Culan et al. 2010).

A useful link here for a quick insight into what Social Media Marketing can be used for: https://www.bluefountainmedia.com/blog/advantages-of-social-media-marketing/

Benefits of Social Media Marketing

Increased Brand Recognition – New channels for your brand’s voice and content, which is important as it gives another channel for new/existing customers to find information on your brand and products. By focusing on the right channels and balancing the content, you can increase brand recognition and penetrate to your target market.

Social media channels are a key way to interact with customers and build those human relationships (Sklar, 2013). Which can be pivotal when the customer then comes to choose whether to invest in your product and can make the difference. As customers are more informed and have more choice than ever before, so if their expectations aren’t met, they’ll move on quickly (Sklar, 2013).

Specifically, social media can offer a powerful way to track your brand awareness online. This can be done in several ways. Conversation can be tracked to see what customers are saying about your firm and measure change in this over time (Frederiksen, 2015). This can be measured through ‘Social listening tools’ such as Echobot (Echobot, 2017). Also, you can track the expansion of your reach online by your number of followers, fans, and contacts.

‘Viral’ Campaigns – Can be described as an ‘internet meme’ and is often a video, image or a story that spreads rapidly across the internet. Sometimes memes are randomly spread or can be controlled (Brown, 2011). An example of this is a recent viral campaign run by Poundland on twitter, which became an instant internet hit by sharing controversial ‘elf on the shelf’ images (Shown below). Viral campaigns can create massive amounts of traffic to your social medias but however are extremely hard to pull of and tend to require the ‘bandwagon effect’. They tend to not last long and are faddish but do give a huge surge in traffic (Brown, 2011).

Promotion Tool – You can use your social media page to offer exclusive deals on products or services, which can attract customers to your page. Even use it to gain customers to other marketing channels in Chaffey’s model, such as offering a deal if you sign up to the email list (Litster, 2017).

For extra information and in-depth points, these links are handy:

https://www.forbes.com/sites/jaysondemers/2014/08/11/the-top-10-benefits-of-social-media-marketing/2/#4d883630743f

https://www.theguardian.com/media-network/media-network-blog/2013/mar/13/social-media-customer-engagement

https://www.americanexpress.com/us/small-business/openforum/articles/8-best-practices-to-promote-your-business-on-social-media/

Risks of Social Media Marketing

Impact of Word of Mouth – Especially through social media sites, news can spread like wildfire and especially in situations of negative connotation. When Netflix announced it was changing its pricing structure, its customers revolted, posting 82,000 negative comments across its blogs and on Facebook and Twitter. Within months the company lost 800,000 customers and two-thirds of its market value (Benioff, 2012).

Cyber Security Risks – Social Media accounts can be prone to security breaches, breaches of client confidentiality, leaks of intellectual property, and violations of the firm’s policies or codes of conduct (Culan et al. 2010). Breaches and leaks could have devastating impacts on a company’s brand image, leaving customers and clients unlikely to invest in a company’s products or services if the strike is potent enough. Also, these types of leaks could lead legal action, which is why social media accounts should require strong passwords and firewall protection.

Employee Credibility – In a firm’s social media team a large number of employees may be creating content or interacting with customers on behalf of the firm (Culan et al. 2010). These employees must be trust worthy as they are the face of the company online. Poor responses or answers can cause viral outrage, which potentially could cause the company to lose potential customers.

Example of how social media can be used effectively

Apple – Using the #Shotonmyiphone as a marketing campaign across Facebook, Instagram & Twitter. Which helped to increase engagement across its audience. To be featured in this campaign all you had to do was use the hashtag “#ShotOniPhone” and you had a chance to be featured on Apple’s social media accounts.

 

References

Benioff, M. (2012). Welcome to the social revolution. [online] BBC News. Available at: http://www.bbc.co.uk/news/business-18013662 [Accessed 22 Dec. 2017].

Brown, R. (2011). Public relations and the social web. London: Kogan Page.

Culan, M., McHugh, P. and Zubillaga, J. (2010). How Large U.S. Companies Can Use Twitter and Other Social Media to Gain Business Value. MIS Quarterly Executive, [online] 9(4). Available at: https://www.researchgate.net/profile/Mary_Culnan/publication/279893388_How_Large_US_Companies_Can_Use_Twitter_and_Other_Social_Media_to_Gain_Business_Value/links/56548c4f08aefe619b19f3c6.pdf [Accessed 28 Dec. 2017].

Echobot. (2017). Online Media Monitoring with Echobot: Powerful and simple.. [online] Available at: https://www.echobot.io/online-media-monitoring/ [Accessed 22 Dec. 2017].

Frederiksen, L. (2015). The Top 10 Benefits of Using Social Media Marketing for Business | Hinge Marketing. [online] Hinge Marketing. Available at: https://hingemarketing.com/blog/story/the-top-10-benefits-of-using-social-media-marketing-for-business [Accessed 22 Dec. 2017].

Kaplan, A. and Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of Social Media. Business Horizons, 53(1).

Litster, C. (2017). 8 Best Practices to Promote Your Business on Social Media. [online] OPEN Forum. Available at: https://www.americanexpress.com/us/small-business/openforum/articles/8-best-practices-to-promote-your-business-on-social-media/ [Accessed 28 Dec. 2017].

Radcliffe, B. (2017). Social Media Marketing (SMM). [online] Investopedia. Available at: https://www.investopedia.com/terms/s/social-media-marketing-smm.asp [Accessed 28 Dec. 2017].

Sklar, C. (2013). How to use social media to understand and engage your customers. [online] the Guardian. Available at: https://www.theguardian.com/media-network/media-network-blog/2013/mar/13/social-media-customer-engagement [Accessed 22 Dec. 2017].

53 thoughts on “The Benefits and Risks of Social Media Marketing

  1. Hello everyone, I can offer you a means of making a good living. With a little Investment you can make profits of $5000 or $10,000 every one week with crypto market. No hidden charges. Contact me on my WhatsApp number for more info + ‪1 (516) 360‑2979 email:
    rm3580785 at gmail . com

  2. Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. Keep it up!

  3. Thank you for providing this interesting article! Social media marketing may help your company grow, develop a larger following, and reach a wider audience with your products and services. There are also a variety of low-cost marketing tactics that will drive organic traffic to your website. If you want to learn more about how to improve your company’s image, I recommend working with a professional digital marketing services provider like Joseph Studios. For additional information, go to https://www.josephstudios.net/.

  4. Thank you for such your great article .I was looking for this type article few days. It’s very great work .thank you again your information to know people
    . Visit best smm panel for any kind of Social Media Marketing Services.

  5. Benefits and Risks of Social Media Marketing is what we need to understand before using it, and this article is really can help to understand, thank you for such great content.

  6. Social media marketing is a very effective way to start and upgrade a brand. It however needs you to know what aspects to really focus on and be intentional about it.

  7. Very well explained! I as a Digital marketer working with a digital marketing firm and running a social media marketing campaign for a health company. I was reading some of the latest updates about social media & digital marketing and found one of your articles too, even this article is not updated still I have learned a few things too and will implement them wisely for my client. Thanks, team Brighton!

    Team https://www.wordpressdevelopment.co.in/best-wordpress-hosting/

  8. Thank you for sharing your blog, seems to be useful information can’t wait to dig deep!

    Really enjoyed your article as its highly informative

  9. A wonderful post about the risk and benefits of social marketing . Its true , social media is a tool for Promotion and brand recognition of product. The social media management services company like Trak Marketing help to boost our company.

  10. Brandboyz.com is best Digital Marketing agency in Raipur. we offer the finest marketing services under one roof. Our expert marketers manage search engine marketing, social media marketing, online reputation management, and content creation to optimize your ROI.

  11. Excellent blog…Thanks for sharing the information…keep it posting these kind of blog in the future… Mizzle is one of the leading Social Media Marketing & advertising agency in Calicut, Kerala India. We offer best social media managing & marketing services on popular social media platforms such as Facebook, Youtube, Instagram, LinkedIn, Pintrest, Snapchat, etc with affordable packages of your choice. ..… For more details please check our website…
    Graphic design company in Calicut

  12. This is a great article that really dives into the potential benefits and risks of using social media for marketing purposes. It’s a great reminder that any online venture should be approached with caution and a well-thought-out strategy. Thanks for the great insight!

    For more info:-https://www.serpgo.com/cheap-seo-packages-India/

  13. Dowload Smadav 2023 Antivirus is one of the most popular antiviruses on the market. It’s known for its high level of protection and wide range of features. And now, the latest version of Smadav Antivirus is available for download. In this blog post, we’ll take a look at what’s new in Smadav Antivirus 2023 and how it can help protect your computer from viruses, malware, and other online threats. So if you’re looking for a comprehensive antivirus solution, be sure to check out this blog post.

  14. Lantai SPC Patinadesain adalah solusi lantai vinyl yang terbuat dari campuran kalsium karbonat, PVC, dan bahan pengikat lainnya, yang memberikan kekuatan, ketahanan, dan daya tahan yang luar biasa.

  15. Very Nice, Great statement and the principle is very clear to understand, keep sharing some updated information to the admin with correct examples.
    Thank you for sharing informative article.

    Here is some related information I would like to share Visit below link >>> https://brandbaysocial.com/services/

  16. Track Calls log and Spy Call Recording.
    Monitoring SMS text messages remotely.
    Cell phone GPS location tracking. Spy on Whatsapp Messages.
    Free Update and 100% Undetectable.
    Internet Browsing History and Read phone Access Address Book, totally
    worth your money, please no time wasters,They won’t under any
    circumstances work for free, you can reach them by their email: Leonardomitnickhacking@gmail. com and get your job done instantly

  17. Our SEO Services can help your site to be more SEO Friendly on Search Engines, SEO optimization of our website is carried out in an integrated and overall manner, to ensure maximum and effective jasa seo results

  18. By utilizing sewa access point services, you can enhance your network performance significantly. The access points provided by networking companies are strategically placed to ensure optimal coverage and signal strength. This helps to eliminate dead zones and improve the overall wireless experience for users.

  19. It’s appropriate time to make some plans for the future and it is time to be happy. I have read this post and if I could I wish to suggest you few interesting things or advice. Perhaps you could write next articles referring to this article. I desire to read even more things about it! pets

  20. Teak Furniture Malaysia operates as a specialist importer of best quality teak wood furniture solid wood furniture, indoor furniture, Garden Furniture and outdoor furniture . Visit Our Showroom Kuala Lumpur KL and Shah Alam Selangor Malaysia.

  21. Safdriya Quran Online Quran Acadmey provides Online Quran Classes. Safdriya Quran is an online Quran academy where individuals can learn and study the Quran online. Safdriya Quran provides a convenient way for people to learn and explore the Quran from the comfort of their own homes.

  22. Your blog post was a valuable read. I found the content to be informative, and I appreciated the way you addressed potential challenges and provided solutions. To delve deeper into this topic, click here.

  23. It will be bad to keep this alone to myself. I came across the best  Advance ATM CARD hacker  who really helped me to get 200,000 dollars which has a 5,000 daily withdrawal limit, they are very honest and diligent in their work. All I did was to order for the ATM card  and  after  4 working days  I received my own ATM card from the delivery company with the card pin number. To my greatest surprise, the ATM card works at the ATM machine in my country   . Contact her via: advanceatmcard@gmail.com WhatsApp number +33758779954  

  24. This comprehensive overview of social media marketing highlights its diverse advantages and potential pitfalls. From enhancing brand recognition to fostering customer engagement, social media offers a plethora of opportunities for businesses to thrive in the digital landscape. However, it also underscores the importance of mitigating risks such as negative word-of-mouth, cyber security breaches, and maintaining employee credibility. The inclusion of real-life examples like Netflix’s pricing debacle and Apple’s #ShotOniPhone campaign adds depth to the discussion, providing valuable insights for businesses navigating the complexities of social media marketing. Good work, keep going.

    Thanks
    Team DevelopmentTime
    https://www.developmenttime.com/

Leave a Reply to MarkVolt Cancel reply

Your email address will not be published. Required fields are marked *