Top 5 Advantages and Disadvantages of Social Media Marketing
I’m always happy to pass on great info, and this is great info! I’ve included a few snippets below lifted from the full article.
Social media has become one of the most popular channels for digital marketing. However, many companies using social media marketing like Facebook ads for example, are frustrated with the low return on their investment. There are pros and cons for all digital marketing strategies, including our five advantages and disadvantages of social media marketing:
In this business blog, let’s also look at when social media started and how popular it is with users today.
Social Media Timeline
Social media started in 1997 with a site called Six Degrees.
Fast forward to the early 2000s, and famous sites, including Facebook, which started in 2004; Flickr, MySpace, and YouTube, emerged in 2005; and Twitter in 2006. Where there are now hundreds of millions of users on social media sites. Where the people are, businesses are sure to follow. Using the platforms in much the same way as ordinary users, companies found a way to advertise their goods and services.
Advantages
The most obvious advantage for businesses using social media for marketing products and services is its size. For example Facebook has 2.7 billion monthly users according to Statista.
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Increased brand awareness
By 2027 Statista predict 5.85 billion people will be using social media in one form or another. Therefore given that almost every person owns a smartphone, desktop, or laptop and they spend a lot of time on social media sites, doing any sort of SMM, if implemented correctly, should, at worst, increase brand recognition for your business.
Disadvantages
Social media has been around for over 25 years, so we’re more comfortable with it now and trust it more. However, it’s not always been this way. Take Facebook, for example; using it was a steep learning curve, and too many software updates altered displays and usability. Then the default user privacy setting was set to ‘public’ which, after user backlash, still took Facebook five years to change to visible to friends.
Competitors
Social media marketing enables you to study your competitors’ strategies. However, they too can analyse your business marketing, social media strategy, brand reputation, and so on through your social media platform. Marketers need to know what competitors are doing on social media. If there are copycat campaigns, you know what you’re doing is working. Staying ahead of competitors requires investment in innovation and crafting unique personalised campaigns.
Check out the full article here ...
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