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How can Social Media promote your buisness?, Source: - Coggle Diagram
How can Social Media promote your buisness?
Benefits of social media for business
Examples:
Do market research and reduce marketing costs
Increase revenue by building customer networks and advertising
Increase your market reach, including international markets
Develop your brand
Attract customers, get customer feedback and build customer loyalty.
Exchange ideas to improve the way you do business
Recruit skilled staff, for example through job networking sites like LinkedIn
Increase traffic to your website and improve its search engine ranking
Disadvantages of social media
Examples
You may get unwanted or inappropriate behaviour on your social media site
The risk of getting negative feedback, information leaks or hacking
Social media is immediate and needs active daily monitoring
The risk of having false or misleading claims made on your social media (by your business or a customer).
Needing additional resources to manage your online presence
Source:
Australian Government Website