I’m working on a business question and need guidance to help me study.
Respond with 150 words – Rebecca
Twitter, Instagram and Facebook can represent a major opportunity or threat for a company. Regarding the opportunities, these social media can add new dimensions to the company’s omnichannel customer service. Many customers use them as the primary way of interacting with the brand since they receive prompt attention. The company has the opportunity of delivering omnichannel customer service through a tool like REVE Chat. With it, a company can streamline its clients’ chats across Twitter, Facebook and Instagram, in providing excellent customer service and increasing productivity (Bhattacharya, 2020). Social media also helps the company influence bigger audience, increase exposure for the business and create brand awareness. Through Twitter, Facebook and Instagram, the company collects first-hand information from the customers, thus getting to know their likes and dislikes, which allows it to improve its reputation, image and strengthen its relationship with customers.
However, social media can pose a significant threat to the company. A company can lose its IP and sensitive data in theft or leakage and risk of unsuitable release of information to the company. Social media also involves compliance violations (DeLoach, 2020). A company has the chances of communicating information and data that breaks applicable rules and guidelines, including data security issues, breaches of privacy rights, copyrights, infringement of trademarks and mishandling of electronic communications. Social media also can lead to a company’s reputation loss. Therefore, when consumers’ opinions spread quickly through Facebook, Twitter and Instagram, the company needs to give effective feedback in a crisis.
Respond with 150 words – Kelly
Technological forces have presented companies with many opportunities. Sites like Facebook, Twitter, and Instagram are platforms that have allowed companies to reach vast audiences of all different walks of life and with different characteristics. This has opened up opportunities to target customers with marketing campaigns, build brand awareness, interact more easily with customers, and even measure referrals from your social media activity to sales (“Social media best practice for business”, n.d.). When you know how social media ties into the amount of sales you are making and who those sales are coming from, you have more data to work with in knowing who you want to target and how you can target them.
On the other hand, if a customer has a bad experience with a company, they have a social media platform that they can take their complaint to which can quickly spread around to others being aware of the issue that occurred. This can create negative press and a bad reputation for that company, depending on how severe the problem was. Just in the same way that bad experiences can be shared, great experiences can also be shared and attract positive attention to companies and their initiatives. Our textbook highlights that it is important for companies to monitor the online reviews that they receive, despite it being a redundant task (David, David, 2020). Customers are especially opinionated and when given the opportunity on an online platform, will share their disdain or satisfaction with ease.
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