Benefits of Social Media for Business

ARGUING THE BENEFITS
OF SOCIAL MEDIA IN
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explain different benefit of social media for the business .........................................................1
Explain different risk and issue associated with using social media for the business ...............2
Recommendation through which different issue or the risk can be managed by organization...4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Social media is the collective online communications channels dedicated to community-based
input, interaction, content-sharing and collaboration. This report highlights the benefit which is
brought by social media to the business. After that the report highlights the potential issue or risk
associated with using social media in financial business service. In the end the report highlights
the recommendation by the help of which organization can overcome the different ethical issue
and the problem.
MAIN BODY
Explain different benefit of social media for the business
Social media is the collective online communications channels dedicated to community-based
input, interaction, content-sharing and collaboration. In today's era of globalization and the
technology advancement Social media is one of the platform which is used by the organization to
increase the efficiency of work in the organization. As it provides the variety of the benefits to
the organization in carrying out their operation (Zhang and Luo, 2016). In the case of the
financial institution the organization uses the social media platform to just inform the customer
about the services which is offered by the company and at what prices the company used to offer
the services to the consumer in the market. As there are many rules and regulation in the
financial industry which binds the company to promote the confidential data and information.
Still there are many benefit which is brought by the social media platform to the financial
institution. Some of the benefits of social media to the business are as follows:
Customer Service Improvement: It is one of the biggest benefit which is brought by the social
media platform to the business. As social media provides a platform for the customer by which
customer can easily contact to customer service representative easily than before. Not only that
social media platform help the organization in getting the review and feedback of the customer
toward the company product with the help of the same organization used to develop the product
which help the company in satisfying the need of the customer. As a result this help the company
in improving the customer service in the organization.
Promotion: It is one of the most important function of the social media in the organization. As
social media help the company in presenting the company product in more attractive way in the
market. Social media will eventually help the company in reducing the cost of the promotion in
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