Advantages and Disadvantages of Social Networks in Business

Advantages and
Disadvantages of Social
Networks in Business

Table of Contents
1. Introduction.......................................................................................................................................3
2. Project Objective...............................................................................................................................4
3. Project Scope.....................................................................................................................................4
4. Literature Review..............................................................................................................................4
5. Conclusion.......................................................................................................................................10
6. References.......................................................................................................................................11
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1. Introduction
Social Network is one of the best network platform for connecting with friends, family, office
collogues, customers and audience with sharing images, audios, videos and personal
information.
We have many Social networks on the web but few are most popular and user-friendly. Most
popular Social networks are like Facebook, LinkedIn, Twitter, Myspace and Instagram. By
these friends and family keep connecting around the worlds and creating new connections.
Social Networks are free for users to connect and sharing information on this. (Affilorama,
2018)
Some Facts about Social Networking-
 Nearly 50% of all Twitter users have never sent a tweet.
 In 2013, a study showed that 79% of all adults in the United States had at least one
social network profile.
 2.1 billion People in the world have social network accounts.
 Mobile phones now make up 72% of internet traffic on social sites. (Hampton, 2011)
 70 million images and videos are uploaded on Instagram every single day, and it is
steadily rising.
Most Popular social networks in the social media are as per following –
I. Facebook – This is biggest and fastest growing social network and this has grown by college
age group. It has grown from college age to global network and as of now millions of peoples
are connected on Facebook. It has a user-friendly function by which we can find any person
(if he/she already connected on this social network) by searching, Name, location, age,
college, school, working company and place. Facebook also having additional functionality
by this we can target a specific audience and promote our product accordingly to get the best
result for growing the business (Computerhope, 2018).
II. LinkedIn – This social network designed especially for professionals and business network.
Basically, professionals and business colleagues are corrected and make new connections. It
is also providing the place to connect with potential customers, clients and business. Also,
helpful to get the job to provide resume and recommendations on this network. A business
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can hire an employee through this social site as target specify criteria like age, qualifications,
experience etc.
III. Twitter -online news and social networking services provided by Twitter. This is quick
information providing network and a person can share a short message on this and ask the
question openly, follower or anyone who has an account on this can revert on that openly. All
big leaders and political parties, companies have accounts and they have a number of
followers and with that, they relate to peoples. Twitter basically use leader and they connect
with audience day to day life and give directions for growing. Politician are making more
benefits by this (Copp, 2016).
IV. Myspace – This is one of the big social networks firstly but when Facebook came in this
social networking rapidly it is declining. It has more than 200 million users available on this
platform. In past, it was very useful for businesses to make brand and promoting the business.
In other term, we can say about a social network that “it is a media share site on that a person
can share Images, Audios, Video and personal information to other person and can connect
with that”.
V. Instagram- this is one of the most popular social sites basically for photos and videos share.
On this, a person can be popular in a day. It is fast growing and basically, it is used by college
age group and stars. They share real time images on this site and interact with fans and
customers.
2. Project Objective
The objective of this project is to understand of social networks for business purpose, how a
business gets the advantage of social networking, what are this disadvantage of this for the
business. Also, we will focus on how a business target to customers for promoting the
products. It is the best platform for introducing product and business to make awareness to
the customer and grow the business (Futureofworking.com, 2018).
3. Project Scope
Social media has a wide scope for the business, in terms of promotion of a product, introduce
a new product in the market, and connect with the existing customer and potential customers.
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