Social media has changed the course of many businesses in terms of marketing, its ability to spread a brand at low marketing costs. With the new arising startups, the question arises whether social media can help or create hindrance in getting these small brands off the ground. The following are the pro and the cons that social media has paused to startups.
Importance include; if used correctly, social media gets large audiences at low cost. It becomes a valuable marketing tool for the startups. Using SEO it increases traffic on brand website. Social media also improves on customer engagement and give an opportunity to get feedback, which is useful in conducting market research. Social media also improves the networking techniques, with other similar brands, all these lead to expansion opportunities and eventual growth of sales.
...Depending on the type of business, social media gives businesses the ability to generate leads on a limited budget (Matyka, 2011).
The challenges include: the thought and planning the social media use requires may be overlooked, media presence should be in such a way that it suits a company’s needs. Social media strategy and policy to manage the potential impact on the brand may be under examined by startups. Social media may be cost effective but there is the cost of daily monitoring required and other resources to manage the social media accounts, the small brand may be overwhelmed by large scope and scale of work that does into managing social media. There is also the negative exposure that a brand may receive, it is a risk that comes with social media.
Social media has changed the landscape for startups as they interac
with customers, statistics show that social media is the best targeted engagement platforms for companies today, it has also becomes the way for external engagement at low costs. This has enhanced lead generation and customer retention (Matyka, 2011).
References
- Matyka, D. P. (2011). Company success among German internet start-ups: Social media, investors and entrepreneurs' personalities. Hamburg: Disserta-Verl.
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