Meaning of Social Networking Sites
A social networking site refers to an online platform that allows individuals to create their own personal profiles in order to interact with others who have profiles on the same sites. Each new user has to first register on the site, then create a personalized profile and afterwards establish connections with other users. Most sites allow users to view the already established connections as well as give them suggestions on prospective connections they should try to establish.
A social networking site also can be described as a web application through which people build their online presence, establish social relations with other people with whom they share common interests, activities and social life among others. Some of the social networking sites include facebook, twitter, Instagram, LinkedIn and Snapchat among others.
On the other hand, a social networking site can also be referred to as any website that enables users to create profiles and form relationships with other users using the same platform. This means that you cannot view someone’s profile unless you are also registered in the same site.
Advantages of Social Networking Sites
To business people, having online presence is key to prosperity of your entrepreneurial idea. You need to create interactions with as many people as possible. The online community you interact with forms a huge market size for your venture.
Increase Brand Visibility
Social sites command a huge number of users all over the globe. This means that you can utilize this chance to make your brand visible to many people and through this, many businesses have had a boost in their sales. Proper interaction with prospective consumers will automatically
increase your brand’s awareness.
High Client Conversion Rates
Every post, image or video uploaded on your profile will lead many users to your brand’s website and by so doing turn opportunities to business gains. Proper interaction with different
people will convert them from just being online friends to consumers of your products.
Apart from the local customers you currently have, social media allows you to reach different individuals with different needs all over the world. Every status you update on your site will generate a new customer and going by this trend, the market base for your products will overwhelmingly expand within a short duration. With social networking sites, there is no limit
to whom you may reach.
Every interaction that you make with a new user should promote your product and convince them to buy. This will easily boost your sales
Get Market Insights
There is no better way to know the opinions people have about your products other than interacting with them at a personalized level. Using social media gives you a huge chance to get these opinions and make improvements in your goods.
Other advantages include:
- Customer satisfaction
- Cost effectiveness
- Higher search engine rankings
- Partner with other influencers
- Generate leads for your products
- Stay informed about changes in the market
- Keep informed on your competitor’s inventions
- Customer engagement
- Be on the know on any changes in your line of
- Keep loyal customers
Disadvantages of Social Networking sites
These sites have to be used with great caution otherwise may
ruin your business. Here are the drawbacks.
- Competitors study your business
- Business/products privacy concerns
- Exposed complaints about your business
- Internet trolls about your brand
- Bad publicity
- Personalized interaction with clients online is
- Qualified social media person is required
- Extortion problems to cover up your brand
- Negative feedback
- Harmful product ratings and reviews
- Daily creativity is required in every new post
- Unfair comparisons to other brands
- Bad image created by competitors