Use social media to help increase sales of your product or service.
Social media is online communication that allows you to interact with your customers and share information in real time. You can use social media to:
Reach your customers better Create online networks Sell and promote your products and services
There is so much FREE information out there that can help you better understand how to use social media to grow and market your business. U.S. Small Business Administration is FREE and offers great tools! Check out their FREE instructional videos here: https://learn.sba.gov/learning-center-market/social-media-marketing
Benefits of social media for business
Social media can help you engage with your customers and find out what people are saying about your business. You can also use social media for advertising, promotional giveaways and mobile applications.
Social media can help your business to:
attract customers, get customer feedback and build customer loyalty
increase your market reach, including international markets
do market research and reduce marketing costs
increase revenue by building customer networks and advertising
develop your brand
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
keep an eye on your competitors.
Disadvantages of social media
Social media may not suit every business. If you launch your social media presence without planning, you could end up wasting valuable time and money.
Disadvantages of social media include:
needing additional resources to manage your online presence
social media is immediate and needs active daily monitoring
you may get unwanted or inappropriate behavior on your social media site
the risk of getting negative feedback, information leaks or hacking
the risk of having false or misleading claims made on your social media (by your business or a customer). These claims can be subject to consumer law. For example, if a customer or fan posts misleading or deceptive information, particularly about competitor products or services, you might receive a fine.
To avoid the risks, have a social media strategy with policies and procedures in place before you start.
Sources: SBA and https://business.gov.au/