How Social Media May Cause Your Business to Fail
Ever since the World Wide Web was brought into existence, the world of technology has seemingly advanced at the speed of light. It is a fact that human beings have made more scientific discoveries and technological advancements in the years following the invention of the internet compared to the years proceeding it. This statement shows the true value of technology, particularly the internet, because of how quickly it has advanced our world.
With these advancements came social media, which has created networks of people interacting with each other through various channels with the ability to share ideas, problems, successes, and personal messages. In the 21st century, social media has taken the world by storm (in a good way). The level of interaction and communication that social media offers wasn’t previously imagined. Whether it is Twitter, Facebook, or Pinterest, all social media platforms are king when it comes to getting the word out.
Social media isn’t only a helpful tool when it comes to individuals, it is also a great way for businesses to reach their customer base. The proper usage of social media can help propel a business to a new tier of success, or it can make ventures fall face-first on the ground. It all depends on how a business uses social media and whether or not they are using it to their full advantage.
Let’s take a look at a few ways social media could be causing your business to fail.
Social Media = Sales and Success
In this modern day and age, a business’s social media presence and activity are considered synonymous with its success. Businesses and ventures that are hugely popular on social media platforms, like Facebook, Twitter, Pinterest, Instagram, or Reddit, often reap the benefits of having a strong online social presence.
On the other hand, businesses that don’t keep up with social media and do not interact with their customers or potential customers, often end up with meager returns when it comes to generating sales and revenue.
Bad Publicity Is Bad for Business
Most business owners and entrepreneurs believe that social media is just a tool to interact with the customers, however, it is important to understand that is is a utility to not just interact with customers, but can be used to market your products and services.
If you are a small business with less capital, you wouldn’t hire resources for the effective marketing of your product. Instead, you want to do the most you can, while spending the least. Social media platforms provide the perfect opportunity to do just that. However, if you are not able to do so, or find yourself involved in a disastrous P.R. situation, you can kiss your earnings goodbye because negativity spreads like wildfire when it comes to online conversations. When that happens, you could end up in serious financial trouble and a trip to your nearest bankruptcy lawyer.
When It Comes to Social Media, Your Employees Represent Your Brand
No matter how great your business or company’s reputation may be, one slight blemish can really ruin it. With that in mind, consider the possibility of your business empire crumbling, because of one mistake from a single employee, after all, your employees represent you.
It doesn’t matter if it was your employee’s personal mistake or they commit professional negligence, it will ultimately come down on your brand. Social media is the first line of attack when people express their emotions and experiences, and when they do so against your brand, you can only hope for a miracle to keep your business afloat.
The Review System
If you are a restaurant or a sightseeing spot, your reputation depends upon the people that visit your location. When these customers visit your business, they form some sort of image in their head about your place of business. You can only hope that their experience was a positive one because if it was not, bad reviews can really run your business into the ground. The worst part is, these reviewers don’t really have any recognized qualification to rate or review your establishment, but they have the tools to do so, which could ruin your reputation further down the line.