Social media in business - Bussiness ( BUS123) | Đại học Hoa Sen

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TRƯỜNG ĐẠI HỌC HOA SEN Internet Research Task BUSINESS ENGLISH Topic
BENEFITS AND DRAWBACKS OF SOCIAL MEDIA IN BUSINESS  Gi ng viên h ả ng dẫẫn: ướ Nguyễễn Thi Thanh Ph ng ươ Thực hi n: ệ Ph m Thùy An. ạ Msvv: 22010693. L p: ớ 1008-2134.
BENEFITS AND DRAWBACKS OF SOCIAL MEDIA IN BUSINESS
Social media is a type of digital communication that takes place on social
networking sites. You can use social media in your business to better reach your
customers, sell and promote your products and services, and so on. Businesses can
use social media in a variety of ways: including text, images, video, audio, stories,
posts, and live streams. It is a potent tool for your company. It can also assist your
company in expanding its market reach, including international markets.
Social media can reach millions of people all over the world. Even if you have
saturated the domestic market, you can connect with new customers who will bring
you more revenue. As a result of the international market is a single outlet for
excess products, exporters can lower costs, and improve profits. This facilitates to
increase in the volume of goods sold. Increase company revenue, extend product
life, and capitalize on existing advantages in the untapped market. Trung Nguyen
Coffee first opened its doors in 1996. Trung Nguyen is a relatively new Vietnamese
coffee brand that has quickly established itself as a household name among both
domestic and international consumers. Trung Nguyen has grown from a small
coffee company to a powerful corporation in just ten years. Trung Nguyen first
appeared in Ho Chi Minh City, with 100 Trung Nguyen coffee shops. With the
tagline "Bring creative inspiration." Trung Nguyen has been present in more than
60 countries around the world for more than 20 years, with a focus on the United
States, ASEAN, Japan, Canada, Singapore, and China. Roasted coffee is popular in
many markets. Become a corporation promoting the growth of the Vietnamese
economy, preserving national economic autonomy, and arousing, demonstrating a
desire Dai Viet to discover and conquer dress.
The second thing that businesses require is the ability to engage customers,
collect customer feedback, and build customer loyalty. Customer loyalty is the
primary driver of the company's growth. When a customer becomes loyal to a
brand, they are not easily swayed by its price. They are willing to pay more as long
as they receive the same quality product or service that they love. Customer service
on social media platforms is an effective way to increase customer loyalty.
Customers prefer messaging apps for chatting, providing feedback on products,
and purchasing processes over call centers or email. Businesses will receive a large
number of new potential customers as a result of this. This will help businesses
grow well in the market and expand the scale of development. In addition, listening
to issues and acting on customer feedback can help businesses improve their
performance and avoid negative feedback in the future.
The final advantage I'd like to highlight is the ability to shape a brand's
personality. Through consistency in logos and brand stories on a business's social
networks, social media is a way to convey brand personality to customers.
Customers will remember your brand more easily as a result of this. Brand logos
and slogans perform as beacons in all marketing activities, regardless of form or
stage. Every customer will be impressed by the brand's image, and it can gain
customers' trust in the product. Slogans, as a visual introduction to the business's
target audience, can help increase customer trust in the brand. It gives your brand a
distinct identity that people remember.
They can instantly recognize your brand based on the slogan alone, without the
need for the product or the brand name to be present. After McDonald's, KFC is the
world's second most famous fast food restaurant brand. The phrase "Well it's
finger-lickin' good" became KFC's slogan and was quickly adopted. Furthermore,
Disneyland is unquestionably the best amusement park in the world. The park is
linked to well-known characters such as Mickey Mouse, Donald Duck, and
princesses. Disney created a slogan that is easy to remember and resonates with
everyone with the essence of a park serving all families and ages.
As a result, the slogan "The Happiest Place on Earth" was born. Furthermore,
there are many well-known brands in Vietnam that people recognize simply by
mentioning the slogan. This is a standout product for the TH True Milk brand. TH
True Milk wants to demonstrate that its emphasis on dairy products is rooted in its
green pastures and modern technology. As a result, a message was created that
makes every customer recall "Thật sự thiên nhiên".
Social media has astounded the world by introducing so many new
technologies. It is crucial in the business industry because most businesses operate
online. People have been exposed to new goods and modern products more quickly
thanks to social media. Aside from the benefits, social media has several
drawbacks for businesses and customers. When conducting business online,
business owners must exercise caution because many things can go wrong. Some
businesses are primarily targeted by web scammers and eventually fail. Social
networks, like two sides of a coin, have advantages and disadvantages.
Many hackers now use information obtained from the internet to steal personal
information. They can also change the information and profile picture on your
company's social media pages to reflect their interests. They may even post content
that is detrimental to your business. This may lead people to believe that your
company is fraudulent or untrustworthy, resulting in lower sales and revenue.
The second point I'd like to bring up is negative comments and feedback.
People freely share their thoughts and experiences while using the product on these
platforms. However, some customers have provided negative feedback. This is
extremely risky for brand owners and businesses because they are exposed to
negative feedback about their products and services. If influential people post
negative feedback about your company, things can quickly get out of hand.
According to Forbes, 94% of users avoid purchasing from businesses with negative
reviews. Bad reviews on Google Reviews and Facebook can have an impact on
your revenue. Business revenue will be reduced by 33% if their stars on these
pages fall between 1-1.5 stars.
Another disadvantage of using social media is that it necessitates continuous
attention. This can be time-consuming for businesses, especially if no one is
assigned to manage some of your social media sites. Because social media works
around the clock and is directly related to your business, you need people who can
constantly monitor and update pages. Customers expect businesses to respond to
their inquiries at all hours of the day and night, so ignoring them will result in poor
customer service and dissatisfied customers. Former customers who are pleased
with your products and services are repeat purchasers.
Social media has both positive and negative societal consequences. No one can
deny that social media has made our civic life more accessible by allowing us to
communicate with each other beyond the borders of the country. The advantages of
social media are enormous, such as confirming the business's position and
attracting many foreign customers. You will also face numerous other risks, such as
spreading fake news and negative business reviews. So, educate yourself on the
various social media platforms and devise the best marketing strategy for your company. References
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