Quiz 14: Social Media

Business

Advantages and Disadvantages of Social Media Social media is an important tool in marketing. An organization must have an interesting presence in the virtual world for capturing maximum consumer attention. The following advantages and disadvantages have been discovered: Advantages : 1. Social media eases establishment of a brand. It provides a wide platform with large audience to present a brand's story. 2. Social media connects an organization directly to its customers closing communication gap. 3. Once a brand is identifies and connects to its fans through social media, it forms a long chain of growing customers. Disadvantages : 1. Social media is hindered by grapevine rumors which can cause huge losses to a brand. 2. A major disadvantage is the loss of brand's reputation because over advertising or committed sales promotion. 3. It requires longer time, patience and a steady flow of investment to gain results from social media compared to other means.

The analogy used in Marcom Insight explains the current scenario of competitive advertising and over analysis on F. It also highlights the discomfort of users as their personal information is posted on public outlets. One can understand the reason behind F's eroding popularity by comparing it to a restaurant's reputation if its walls were filled with sales campaigns and intruding servers. The analogy is aptly used to explain F's prevalent conditions. The analogy clearly explains the negative aspect growing on F. If F doesn't control its advertisement and protect privacy of its users, then it is most likely to face troubles. F will continue to exist and grow until a competitor comes in with better privacy options and less sponsoring ads.

Every brand tells its story to connect to its audience on social media. The brand's story creates the base for engagement. But with growing competition in social media one has to take a step forward to generate interest. A brand should create curiosity among people by creating an aura of mystery uncovering rewards. A brand's story must combine cause and a challenging game to occupy the heart and brain of its potential customer. When people do involve in a game or puzzle they get attracted towards the brand. There are following key steps or ideas to achieve a place in social media: 1. Identifying likes of audience, 2. Targeting their needs, and 3. Refining ways to reach target audience. There are following essentials for Brand Differentiation and Identification on Social Media: • Give your brand a personality, • Connect with people of common interest, • Share your story with the audience to get them engaged, and • Update with latest news connecting to your brand.