ASSIGNMENT-5 1. Explain the concept of connecting with others digitally and how it has evolved over time. Discuss the impact of social networks on communication, relationships, and society as a whole. answer:There are many forms of digital communication, but not all are considered social media. Social media refers to websites or applications that support content sharing, user interaction and the exchange of messages within a collaborative framework. The emphasis here on sharable content and social interaction is key. While many platforms support uploading content, social media enables greater engagement and collaboration between users. The context for these interactions can be broad or niche depending on the purpose of the platform. For example, some networks may be focused on business connections and furthering professional development, such as LinkedIn. Others may target image sharing over text, such as Instagram, or cater to a specific demographic. Increasingly, social platforms are facilitating new mediums, such as live video streams or digital retail. Many celebrities and notable professionals also use these networks to communicate directly with fans and supporters in a more intimate format than traditional media allows. The definition of social media may evolve as the platforms themselves do, but the central component of community engagement should endure. Precursors to social media While social media itself has only been around at scale since 2003, there were some initial platforms that paved the way for this kind of digital community. Early adopters of the internet quickly recognized the technology's capacity for communications. Bulletin board systems let people connect to software that hosted public message boards, which displayed news and bulletins to all users. Some bulletin boards offered multiplayer gaming, while others enabled direct messaging or chat rooms. Prodigy was an individual online service that quickly amassed subscribers thanks to its vast content offering of news, weather, messaging boards, stocks and travel. While the email system was originally launched to support digital advertising and online shopping, it quickly became a peer-to-peer messaging tool. The other two popular services of the day, America Online (AOL) and CompuServe, followed a similar trajectory and grew such large subscriber bases that they collectively became known as the "Big Three." However, despite seeing substantial popularity in the 1980s and 1990s, none of the Big Three programs could successfully compete against affordable dial-up internet and newer web browsers, with each service fading out of popular use in the late 1990s. Internet relay chat was another precursor to modern social media. IRC is a form of text-based instant messaging that was designed for group conversations as opposed to one-to-one connection. While IRC remains in use today on servers such as Libera Chat and OFTC, it requires a client connection to an IRC server. Users began to migrate toward more user-friendly chat options. Today the top 100 IRC networks only host a combined total of 230,000 connected users at peak times. AOL Instant Messenger was introduced to the landscape in 1997. It was spun out of America Online and eventually became a standalone messaging application. Yahoo! Messenger and MSN Messenger quickly followed in 1999. These tools helped people stay in contact from the convenience of their living rooms -- a foreshadowing of the convenience of smartphone communication. Early social networks After this initial wave of applications, the first true wave of social media networks emerged on the market. SixDegrees launched in 1997 and was based on the idea of the six degrees of connection. Users could list their contacts and invite nonmembers to join, with the ability to message first, second and third-degree connections. Bulletin board functionality ensured the presence of community-wide interaction. The site shut down in 2001. Less of a traditional social media platform, LiveJournal paved the way for the self-documenting side of social media. Launched in 1999, LiveJournal lets users create a personal blog, journal or diary and share these posts with their friends and community. Users can also list other members as "friends," but this has limited functionality and doesn't need to be reciprocated as on Facebook. It is more like following someone on Instagram or Twitter. Posts have a comment section, which encourages engagement between community members. The platform is still functioning today. Next came Friendster in 2002, one of the sites most directly comparable to modern-day social media platforms. This site supported photo sharing and video sharing, alongside more traditional text posts and link posts, that would direct users to other locations on the internet. It was also used as a platform to discover new media and events. Users could search for each other and communicate directly or within larger networks. Friendster was so popular that it reached 3 million members in its first few months. After failing to compete with the social media giants that came after it, Friendster was rebranded and relaunched as a social gaming platform in 2011. It eventually shut down in 2018. In 2003, MySpace launched and quickly became a global phenomenon. MySpace was the most popular social media platform in the world between 2005 and 2008, becoming the most visited website in the U.S. in June 2006 -- as calculated by internet tracker Hitwise, now defunct. One of MySpace's most popular features was the ability to embed music and YouTube videos into a user's profile, which could also be customized using basic HTML code. Music played a key role in the platform's success thanks to the MySpace Music feature, where artists could upload their music for greater discovery. This was a precursor to Instagram and TikTok for finding new music. Although popular for years, MySpace was ultimately just not able to keep up with its closest rival, Facebook, which finally outpaced Myspace in terms of unique monthly visitors in April 2008. Other platforms around this time also launched to various degrees of success, including game-based social platform Habbo in 2000, Hi5 in 2003 and Bebo in 2005. However, none of these have achieved get the same cultural foothold as the following platforms, which continue to dominate the industry nearly two decades later. Modern social media platforms Although many social networking sites shut down over the years and faded into obscurity, there are still many social media apps for modern users to choose from. No longer the domain only of the youth, some of these networks have been able to maintain a strong hold over older demographics even as they win new users. The most successful ones have become ubiquitous, with major businesses, famous individuals and everyday users maintaining accounts. LinkedIn (2003) The only professional-focused community on this list, LinkedIn was the original business networking tool and has maintained its social position throughout the last 20 years. Both users must agree to be first connections, but anyone can "follow" another member and see their public posts. In-platform messaging tools, comment sections and an interactive job board help professionals develop their networks and follow the careers of those they know. LinkedIn has been owned by Microsoft since 2015 and has become a popular place for people to showcase their work histories and publicize their achievements. Facebook (2003) Perhaps the most well-known social networking app of the modern age -- with an average of 2 billion daily active users -- Facebook was created by Mark Zuckerberg in his Harvard dorm room. Originally only available to Harvard students and then those with an American college address, Facebook quickly expanded and was the third-most visited website of 2022, after Google.com and YouTube.com. The platform lets users "friend" each other, share pictures and videos, engage with each other's posts, and create events. Small businesses and community pages are also a big draw for users, creating miniature networks within the larger Facebook network. Facebook is free to use but has made money through ads and selling user data. It also now offers a paid verification option, which proves a user's identity. The company has faced criticism for its handling of private information and a few data breaches. YouTube (2005) YouTube is the go-to platform for video content, counting more than 2.5 billion monthly visitors who consume as much as a billion hours of content collectively each day. It launched in February 2005 and was bought by Google a year later. YouTube is now the second-most visited website in the world, after Google Search. While predominantly a viewing platform, YouTube's comment section, interactive livestreams and "Community" feature enable the kind of collaborative engagement that defines social media. Users can subscribe to channels, create their own and respond to each other's content. A comprehensive advertising model has also made it a popular revenue stream for individual creators and businesses alike, with many millionaire influencers originating on the YouTube platform. Reddit (2005) Reddit is beloved for its old-school aesthetics and simple, text-heavy aesthetic. This website encourages users to upvote or downvote other people's posts, in addition to commenting on them. These votes dictate how visible a post is on the platform. Redditors can also create "subreddits" within the community and share posts, pictures, videos and links, with a mix of administrator- and member-moderators. There is a greater sense of being run by the community rather than other social media networks, which has made Reddit popular with niche groups that want a safe place to convene online. However, Reddit has recently come under fire for charging for access to its API. Twitter (2006) Twitter has been the platform of choice for many writers and creatives due to its focus on microblogging; each post has a set character limit of 280, so users must be concise. Twitter also replaced the mutual friends model with the follower model, where anyone can opt in to see public posts -- or tweets -- of other users in a central newsfeed. This made it easier for people to grow a following and establish a public identity while still allowing for private messages and tweets. Images, videos and links can also be shared, but the emphasis has always been on text captions. Billionaire Elon Musk acquired the platform in 2022, and it is currently undergoing some changes, such as replacing its legacy "blue check" verification system with a new paid subscriber system. Learn about some Twitter alternatives here. Tumblr (2007) Tumblr is another microblogging platform, popular with younger demographics and fandoms. Users can create and follow each other's blogs, in which they share text or multimedia posts. Instead of a newsfeed, Tumblr members have dashboards that highlight recent posts from people they follow. Users can also ask questions of other blogs anonymously and not associated with their account. Pinterest (2010) 2010 saw the emergence of photo-dominant platforms, beginning with Pinterest. This site lets users bookmark, or "pin," images from the internet and collate them into different themes and boards. A digital version of a traditional pinboard, Pinterest also added a community aspect by letting users "re-pin" each other's posts and follow each other's boards. Users can upload content from elsewhere on the internet and use Pinterest as a personal catalog. They can also browse existing images that others have uploaded. Instagram (2010) Although originally the domain of photographers and artists, Instagram quickly became popular across all ages and backgrounds. Like Twitter, following people on Instagram can be a one-way relationship, which has made it popular with celebrities and other public figures. However, users can also set their profile to private, which requires them to approve any potential followers. On each post, followers can like, comment or save the image. The photo-heavy platform has a "Stories" function where all content only lives online for 24 hours, similar to SnapChat's temporary content. More recently, Instagram launched a dedicated short video product, Reel, to compete with other video-first networks. The platform has been owned by Facebook -- now Meta -- since 2012. Snapchat (2011) Snapchat's appeal is short-form content, with peer-to-peer and public "Stories" functions. This emphasis on temporary communications and inclusion of various fun filters has made it popular with a younger crowd. Snaps can be pictures or videos, and users can add text, visual effects or drawings to both. While it is possible to take a screenshot of a temporary message and therefore make it permanent, doing so will alert the sender. Most recently, Snapchat introduced a new AI chatbot called My AI, which can respond to queries. My AI is a generative AI tool powered by OpenAI's ChatGPT. Discord (2015) Discord is a little different from the other platforms on this list, with an emphasis on voice calls as well as written communication. Discord supports real-time instant messaging, video calls and voice calls across all the major platforms: MacOS, iOS, Windows and Android. The site has a large gamer membership due to the voice call technology, but it has also found popularity among smaller communities who want to set up their own private servers within Discord. Each server can support up to 800,000 members, and the platform is free to use. TikTok (2017) Despite being the newest addition to this list, TikTok quickly became one of the most popular social media networks for a younger audience since it launched in the U.S. market. Although the platform recently adjusted its settings to accommodate longer videos, the premise is short-form video content and the ability to duet with other users on the platform, increasing interaction between members. Each video post lets users like, comment, save and share. Users can also layer saved audio tracks over their videos, which helps users find related content. An AI algorithm delivers suggested content to members' "For You" page, leading to a highly curated experience. Learn about some alternatives to TikTok here. Brief fads Though those titans of social media all found success, other apps have struggled to find the same audience. Clubhouse was a brief addition to the market in 2019, which offered an audio chat room experience -- a sharp difference to the visual focus of competitors. Despite the growing market for podcasts and other audio content, Clubhouse never quite found its niche, and in April 2023 the company cut its staff by 50%. Vine was a short-form video platform that Twitter bought in 2012 but ultimately discontinued in 2017. How does social media affect society? Social media has many uses, including sharing personal updates with friends, brand marketing and publicizing professional work. Some pros include the following: Users can connect instantly with an audience, fostering relationships and building valuable communities. Brands can grow an audience and compete with larger rivals. Jobseekers can find new career opportunities. Local communities can organize around politics or social issues. Users can seek out like-minded people as well as connect with family and friends. But there are also some cons to social media: Users can hide behind anonymous accounts and attack other members online. Users can spread disinformation. Users can exacerbate their insecurities by seeing unrealistic portrayals of their peers. The platforms are at risk of data breaches. How has the role of social media changed? Initial social media platforms were targeted at the public and designed to help people connect digitally with friends. Over time, they have become spaces welcoming commercial business, brand marketing and the collection of user data. As userbases grew, small communities developed within these larger networks, making them resources for local organizing and finding new connections. The high levels of engagement also made these social networks valuable channels for public figures to share their messages with a large audience without going through traditional media. The future of social media Social media has only been around for a couple of decades, but it has already undergone several evolutions. As end users change, so do the ways they use these platforms. In response to these behavioral shifts, technology adapts to offer new features and ways to connect. One possible clue to figuring out what's around the corner is to look at social media trends in Asia, which tends to be an early adopter. There, livestream shopping is much more prevalent on social media, and micro-influencers are frequently used for brand marketing instead of celebrities. This shift is already starting in the U.S. AI will also likely become more prevalent across the main social media platforms, whether in the form of chatbots or in more advanced curation algorithms. While businesses will continue to use these platforms to better connect with customers, there may be a backlash to this consumerism among users who enjoy the more pared-down experience of Reddit or Discord. 2 .Differentiate between various types of social media platforms, such as social networking sites, microblogging platforms, photo-sharing apps, and professional networking sites. answer:We all know that social media is an integral part of our modern lives. Around two billion people around the globe are on some form of social media, and by 2020 there will be more than three billion of us participating. And while most people think of Facebook as the biggest player in town (and it’s certainly up there!), here’s what you need to know about seven different types of social media platforms. 1) Social networking sites 7 tips for using social media sites safely - Saga Social networking sites, like Facebook, Twitter and Instagram allow users to create profiles with photos and connect with other users who share their interests. Users can’t send each other messages without becoming friends first, as well as comment or ‘like’ others’ posts. In addition to personal use, many brands use social networking sites as a marketing tool to promote the business and connect with customers. Facebook is currently the biggest social media platform with nearly 2 billion monthly active users worldwide, followed by WhatsApp, Messenger, and QQ. 2) Social bookmarking sites This type of site allows users to store links from other websites online. Once a user posts a link on a social bookmarking site, it can be accessed by anyone who has an account with that specific site. Reddit is the most popular example of this – you can read more about how Reddit works here. 3) Social news sites Here users share articles or videos they find interesting with others on the network. Instead of posting links to external websites like on social bookmarking sites, social news sites often post articles or videos right on the network. Many social news sites are known for their open nature, whereby anyone can share links with others on the site, but some have stricter posting guidelines. Reddit is one of the most popular social news sites, where users can submit links to be voted up or down by other members in order to rank content. 4) Micro-blogging websites List of top nine Microblogging sites | Pensitdown Like Twitter, micro-blogging websites allow their users to share short updates about themselves publicly. Other users are then able to follow these updates and interact with them directly. By default, tweets are made public so anyone can see your updates even if they don’t have an account with that specific service, but there are ways you can make your updates private on some social media sites. Twitter is the most popular micro-blogging site with over 330 million monthly active users as of March 2017, followed by Sina Weibo and Sina. 5) Social networking sites for professionals Many people use social media to network professionally, whether it’s LinkedIn or Xing in Europe or Indeed or BranchOut in the US. These types of platforms allow job hunters to connect with potential employers, as well as share articles through their news feeds and post status updates about their work – just like Facebook or Twitter – although they have a strong focus on professional contacts. LinkedIn is currently the biggest professional social networking site worldwide with 364 million registered members as of October 2016, followed by Xing and Viadeo. 6) Social media video sites Video-sharing social media networks allow users to share and view videos. Users can either upload their own videos or link to a video on a third-party site. Twitter acquired Periscope, a live streaming service, in 2015 and allows users to broadcast live video from smartphones whilst Facebook has bought the popular virtual reality technology company, Oculus Rift. Google has also invested heavily in YouTube which is currently the biggest video-sharing network worldwide with over one billion monthly active users as of February 2017, followed by Youku Tudou and iQiYi. 7) Live streaming sites This type of social network allows users to connect with each other via broadcasts – either public or private – where viewers can post comments that stream in real-time. Twitch is the most popular live-streaming site worldwide with over 15 million monthly visitors as of January 2017, followed by YouNow and Ustream. 8) Real-time messaging sites These social networks allow their users to share messages or ‘updates’ with others on the network in real-time directly from a mobile device. Snapchat was one of the first social networks to gain popularity for this type of sharing – you can read more about how Snapchat works here. WhatsApp is currently the biggest real-time messaging service worldwide with 1 billion active user accounts as of February 2017, followed by Messenger and QQ Mobile. 3. Explain the concept of social media marketing and discuss strategies for businesses to effectively promote their products or services. answer:Social media marketing involves using platforms like Facebook, Instagram, Twitter, LinkedIn, and TikTok to effectively reach a wider audience and communicate with customers. Social media marketing is necessary for any small business marketing strategy and requires a robust plan. Your customers expect engaging content and the ability to communicate with you through direct messaging and comments. Effective social media marketing for small businesses gives you the unique opportunity to humanize your brand and drive traffic back to your website. With social media advertising, you can also generate leads and sales while increasing brand awareness. Many small businesses even use social media for customer service, allowing customers to message them directly to have issues resolved and questions answered. How to market your business on social media Social media is integral to any marketing strategy, but it may seem daunting for small business owners who don’t know how to use different platforms. Luckily, social media marketing is fairly easy to learn and doesn’t require too much time or money. Any budget can support a robust social media marketing strategy as long as you get to know your customers and can create engaging content regularly. Here’s how to promote your business on social media. 1. Identify your audience Many businesses make the mistake of trying to reach everyone. But understanding and organizing your audience can help you send the right message to the right people and more effectively meet your marketing goals. This begins with identifying your target audience. The details about who these people are should be based on the audience data you already have, as well as your market research. To find your target audience: Compile data. In order to reach your target market, you need to know what they’re like. It’s important to know things like your audience members’ ages, locations, and engagement patterns to market effectively to them. While it may seem daunting to gather this information, customer relationship management software stores and sorts this data and makes it easy to put into action. Use social media analytics. Many platforms, like Facebook and Twitter, have built-in analytics that can tell you about your followers, including when they post, where they post, and other interests. Plus, these tools are free to use with business accounts. Check the competition. Understanding your competition will give you insights about how to talk to your audience. You can look at what your competitors are doing wrong to fill any gaps in your current strategy. Once you’ve identified your target audience, it’s important to keep up to date with their interests and to implement a social listening strategy to understand their wants and needs. 2. Define your goals and KPIs To excel in social media marketing, it’s important to create goals that guide your efforts. The SMART goal strategy provides a helpful framework to create foundational goals and meet your overall objectives. SMART stands for: Specific: In order to measure and meet goals, it’s important to be clear about precisely what you hope to achieve. This is especially important for getting your team onboard as you work collectively towards the goal. A specific social media goal, for example, might be to increase your Twitter followers by 20% this quarter. Measurable: You need to know definitively whether you’ve reached your goal or not. Measurement makes that possible. By using metrics to track your progress, you can also pivot your goals if need be. For instance, if you find that likes and follows don’t lead to website traffic, you can change the metric to something that will help you achieve your goal. Achievable: All goals should be within reach of your business. If you set goals that are unreasonable, you risk discouraging your employees and creating friction in your business plan. As you set specific, measurable goals, make sure to adjust if it seems like you aren’t reaching them. Relevant: Your social media marketing goals should ladder up to your larger business objectives. For example, if it’s your objective to build brand awareness, you could set a goal to get 100 social media followers to click through a post to a landing page that describes your offerings. Timely: To keep yourself accountable, goals should have a time limit. Instead of creating a goal for some undefined time in the near future, make sure to set a specific cadence to check in and ensure you’re staying on track. Though social media marketing has many moving parts, SMART goals give you a starting point, as well as a means to check in and make changes as needed. 3. Allocate your resources wisely For small businesses strapped for money and time, sometimes social media tasks get arbitrarily offloaded onto whoever is available. But social media management requires unique skills, like: Strategic thinking Organizational skills Branding expertise If you have the means, hiring an expert to handle social media can pay off. But if you don’t have the budget for an on-staff social media manager, you can still invest in advertisements on social platforms, which can boost brand awareness and expand reach. 4. Use multiple platforms Consider the multiple social media platforms your customers use daily. Ultimately, your strategy should allow you to reach as many people through social media as possible, and you can’t do that by focusing on only one platform. Depending on your audience, many of them may use Facebook, Instagram, and TikTok throughout the day, giving you three opportunities to get your content in front of them. Social media apps to know include Instagram, Facebook, TikTok, LinkedIn, and Twitter. However, investing in a strategy for all of these platforms isn’t necessary. Instead, consider the apps your customers are most likely to use. 5. Post relevant content regularly Success on social media is a matter of posting compelling, engaging content consistently. Not only will this help make your business look dependable, but it also shows that you have timely knowledge to share and that you care to be in conversation with your audience. Social media platforms change their algorithms over time, but the rule of posting regularly holds true: This practice helps your content show up in newsfeeds. By focusing on consistent, relevant content, you show the algorithms that your posts are worthy of showing up in various newsfeeds and ultimately, will attract followers to your page. 6. Interact with followers Social media users enjoy interacting with brands, and as a result brands experience benefits like: Social proof of your business Expanded market reach Boosted brand awareness Cost-efficiency The opportunity for a high return on investment (ROI) is huge—83% of customers value customer experience, and that includes social media interactions in which businesses make their audience feel seen, heard, and understood. Social media allows you to monitor conversations in real-time and answer questions or concerns from your audience promptly. This can take many forms, like: Asking questions relevant to your offerings Creating a Facebook Group for your audience Using GIFs, videos, and emojis to spice up messages Utilizing platform tools, like Instagram Live to start discussions A good strategy is to allow 1 hour a day to communicate with your audience on social media. However, if there are pressing concerns, you should always take the time to respond promptly. 7. Always maintain professionalism It’s important to remember that as you post on social media, you are always representing your business. Posts are taken out of context all too often, which can lead to conflict and upset followers. If your social media responsibilities are allocated to other staff members, consider creating a social media policy to guide their posts and conversations. Typically, a standard social media policy will include: Clear expectations about what to post Instructions on how to respond to negative posts Platform laws and rules to follow Brand considerations Security protocols By investing in a social media policy, your business can be ready for any scenario. It’s important to remember that at the core of social media, you are implementing your customer service philosophy. 8. Reflect your brand identity Brand identity is what helps people connect to your business and sets you apart from your competitors. This means that all marketing, including print, digital, and social media, should be consistent. Brand consistency can be challenging for businesses, especially when you’re just getting started. But it’s important across channels, and that certainly includes social media. As you are posting, you’ll want to think about: How you talk to your customers, otherwise known as a brand voice Posting similar visuals across the various platforms Focusing on your unique selling point. Not only will a consistent brand identity make it easier to know what to post, but it can also help increase brand loyalty. 9. Prioritize quality over quantity Instead of posting multiple times a day on as many platforms as possible, you should focus on delivering consistent, quality posts. In fact, some social media sites may penalize your account and mark you as spam for too many low-quality posts. Additionally, posting could become overwhelming and problematic whoever handles your social media, whether that’s you or a teammate, and that could wind up hurting your strategy rather than helping. To mitigate these risks, consider implementing a social media calendar. These calendars can help you plan posts in advance while ensuring you stay organized. Categories including when to post, post caption, post visual, and which platforms to post on can help marketers keep track of the various moving parts of social media. Another way to prioritize quality posts is to ask yourself the following questions: Does this content help my followers? Is this original? Is this actionable, inspiring, or entertaining? Does the content have cited sources, if needed? All of these questions can help you create quality content that will engage and attract followers. Learning about the top social media content to create for each platform is key to helping you reach more people online. 10. Measure your results There are many factors that affect social media marketing, and that’s why it’s important to analyze and measure results. Analytics come in handy because they can help: Optimize campaigns Create new goals Assess tracking metrics Before you start tracking, though, you should identify which metrics are most important to your marketing goals. The most common metrics are: Reach Engagement Impressions Mentions Post clicks Video views 11. Develop a unique strategy You might have the impulse to post on as many platforms as possible, but this could actually derail your social media marketing strategy. For example, if you’re trying to target people who are over 50 years of age, you’ll find that most of your audience is on Facebook, so it’s not as worthwhile to prioritize Instagram. When creating a social media marketing strategy, focus on: Where your audience is Where your competitors post What your metrics tell you Additionally, you’ll want to think about how to best use each platform, based on what it was created for and the content that does best there: Facebook offers quality video streaming, like live video, as well as a high-functioning messaging platform that allows brands to interact with their followers one-on-one. Instagram supports more visually compelling posts and creative short videos. YouTube is best for longer informational or entertaining video content. Twitter allows for real-time conversations, news updates, and alerts. LinkedIn works well for long-form written content, like blog posts. Pinterest lets users discover content and relies on visuals to catch their attention. Depending on your social media strategy, you may realize that you don’t have to use YouTube if your users are primarily on Facebook. Or if you find that you can say more with pictures than you can with words, Instagram might be more useful. Make sure to research the best strategy for each platform you use to get the most out of your marketing efforts. While there are many tips to grow your small business, social media can help you discover and retain new customers. 12. Partner with influencers and industry leaders Partnering with influencers can help you take your social media marketing to the next level by leveraging their talents to help you grow your business. Influencers have their own personal branding and followers that trust their expertise. Working with influencers in your industry can help you build brand awareness and increase sales. Since influencers are real people, they’re more easily trusted by customers, allowing you to use that to your advantage. 13. Livestream occasionally Live streaming can help boost your organic reach on social media. Because live streaming taps into your followers’ fear of missing out (FOMO), you can reach more people at a time. Live streaming also allows you to be more personal with your audience and give them insight into your business and its products to build trust. 14. Post at the best times Creating quality content can ensure you reach more people and engage your audience. However, if your customers aren’t active on social media when you post, they likely won’t ever see your content. You can find the times when your audience is online by looking at your social media analytics. Many social media management tools also give you insight into the best times to post based on when your followers are typically online. You can also experiment by posting at different times of day to determine how it affects engagement and reach. Benefits of marketing on social media Every small business should invest in social media marketing to promote their business and boost online visibility. A few benefits of social media marketing include: Cost-effective. Social media marketing and advertising is cost-effective. If you want to post content organically, it may only cost you your time. However, advertising your business on social media is one of the most cost-effective advertising solutions available for small businesses. You can set a budget for as low as $1.00/day on Facebook. More exposure. Marketing your business on social media allows you to reach more people. Engaging content will likely be shared, helping you increase your online visibility. Boost brand awareness. Social media is a great tool for increasing brand awareness by boosting online visibility. However, if you want to take advantage of social media to raise brand awareness, consider creating advertisements that expand your reach. Drive traffic to business websites. Your social media marketing should drive traffic back to your website, where customers can complete actions like filling out forms or making purchases. Support customers quickly. Social media allows you to handle online customer service requests quickly and easily. When someone messages you directly on social media, you can answer their questions in real-time, giving them a fast response that improves their experience with your business. Increased credibility. Posting engaging and educational content can increase your credibility, helping new customers learn that you’re a thought leader they can trust. Effectively market your business on social media with Mailchimp Social media marketing is necessary for any business that wants to stand out. Your competition is using social media to reach new customers, so it’s time for you to enhance your efforts. Mailchimp makes it easy to market on social media by offering content creation tools to help you build targeted ads. You can also use our social media marketing tools to schedule posts and publish at the right time. 4. Discuss strategies for mitigating risks and maximizing benefits when engaging with social media platforms. answer:1. Social media security risks Social security risks can harm your info and identity. Avoid sharing too much, weak passwords, or strange links. Stay safe with strong passwords, cautious sharing, and distrust of unknown emails. Just like locking your door, secure your online stuff! Here are different kinds of social security risks for brands: Reputation damage: Negative comments, reviews, or misinformation can harm a brand’s image. Data breaches: Hackers gaining access to customer or employee data can lead to trust loss. Phishing attacks: Employees might unknowingly reveal sensitive info to fake emails. Social engineering: Scammers might manipulate employees for confidential data. Account hijacking: Hackers taking control of a brand’s social media accounts can spread false information. Inappropriate content: Sharing or being associated with offensive or inappropriate content. Intellectual property theft: Competitors or others stealing a brand’s ideas or content. Crisis mishandling: Poorly managed crises can worsen public perception. Lack of control: Employees’ personal posts reflecting poorly on the brand. Miscommunication: Messages being misinterpreted can lead to PR issues. Did you know! “Up to 40% of social media users are estimated to have experienced some form of social engineering or phishing attack.” (GITNUX) The CNN hacking case Social media risk example of CNN social accounts hacking In 2014, the official Twitter and Facebook accounts of CNN were compromised by a hacktivist group, the Syrian Electronic Army (SEA). The hackers posted false information, which spread rapidly, damaging CNN’s credibility and potentially influencing the public. CNN’s response CNN’s initial response was somewhat delayed and lacked coordination, allowing the false information to gain traction. However, they swiftly regained control of their accounts, deleted the false posts, and issued clarifications. What could have been done? To enhance crisis management, CNN could have benefited from faster response times, clear communication strategies, and pre-established protocols for social media account security. This case underscores the need for organizations to proactively prepare for digital threats and have effective crisis communication strategies in place. 2. Legal risks Social media legal risks encompass potential legal problems arising from online activities, such as copyright infringement, defamation, and privacy violations. Here are different kinds of social media risks brands need to be aware of: Copyright infringement: Sharing content without proper authorization can lead to copyright claims. Defamation: Posting false or damaging statements about individuals or businesses can result in defamation claims. Privacy violations: Sharing personal information without consent might lead to privacy lawsuits. Trademark violations: Unauthorized use of trademarks can result in legal action. Advertising regulations: Violating advertising laws or not disclosing sponsorships can lead to penalties. Data protection Laws: Mishandling customer data may breach data protection regulations. Contractual Issues:Breaching contracts with influencers or partners can result in legal disputes. Employment matters: Employee social media usage can lead to HR and legal challenges. Regulatory compliance: Not adhering to industry-specific regulations can lead to fines. Misleading content: Sharing false or misleading information might breach consumer protection laws. Interesting read: How to Understand and Maximize Your Reach on Any Social Network 3. Financial risks Managing social media risks effectively is crucial to mitigate these potential financial impacts and maintain a positive brand image, customer trust, and business growth. Here are some major financial impact on brands that occur due to weak social media risk management: Customer loss: Poorly managed social media risks can lead to a loss of existing customers and difficulty in attracting new ones due to negative perceptions. Legal expenses: Violations such as copyright infringement or privacy breaches can result in legal fees, fines, and settlements, draining financial resources. Crisis management costs: Dealing with social media crises requires resources for crisis communication, PR efforts, and reputation repair, leading to additional expenses. Difficulty in ROI measurement: Relying on misleading social media metrics can lead to misguided decisions and ineffective strategies. Measuring the actual return on investment from social media efforts can be challenging. The British Petroleum Gulf oil spill: A risk management debacle Social Media Risk Example of BP Oil Spill The BP oil spill in the Gulf of Mexico is widely known, and social media has played a crucial role in magnifying and uniting public anger over BP’s management of the crisis in that region. BP’s brand value has taken a hit of more than $1 billion as a consequence of the situation. Notably, the “Boycott BP” Facebook page has garnered the support of over 750,000 individuals. Moreover, discussions surrounding “BP” have surfaced across various online platforms, including more than 9,000 blogs and over 23,000 tweets. Impressively, these discussions on Twitter have collectively generated approximately 49.5 million impressions. 4. Competitor risk Social media risks related to competition involve potential negative impacts that arise from interactions and activities on social media platforms involving competitors. These risks can impact a business’s reputation, customer perception, and overall competitive standing. Here are some social media risks related to competition: Comparative marketing gone wrong: While comparative marketing can be effective, it can backfire if not executed carefully, leading to legal issues or public backlash. Customer poaching: Competitors might target your customers with enticing offers or campaigns, attempting to shift their loyalty away from your brand. Stolen strategies: Your rivals might closely monitor and replicate your successful social media strategies, diminishing your unique competitive advantage. Disinformation or rumors: Competitors might spread false rumors or disinformation about your products or services, impacting customer trust and potentially causing financial harm. 5. Innovation risk While social media can be a powerful tool for innovation, it also comes with certain risks. Here are some innovation-related social media risks to be aware of: Premature exposure: Sharing innovative ideas or products too early on social media can lead to competitors gaining insight and potentially launching similar initiatives before you do. Copycat competition: Competitors might quickly replicate or modify your innovative concepts after seeing them on social media, reducing your competitive advantage. Expectation management: Overhyping an innovation on social media can lead to unrealistic customer expectations, making it challenging to meet those expectations in reality. Critique and negative feedback: Innovative ideas can attract critique and negative feedback on social media platforms, potentially discouraging further development or affecting your brand perception. Interesting read: A Complete Guide to Building a Brand Marketing Strategy Social media risk management plan for brands One of the best examples and case studies of crisis management that brands highlight is the Johnson and Johnson’s Tylenol incident. In 1982, Johnson & Johnson faced a crisis when seven people in the United States died after consuming Tylenol capsules that had been tampered with and laced with cyanide. The company swiftly responded by recalling 31 million bottles of Tylenol, worth around $100 million. They cooperated fully with law enforcement and established a hotline to inform the public about the situation. Johnson & Johnson also introduced tamper-evident packaging, which later became an industry standard. Their transparent and responsible crisis management approach is often cited as a model for effectively handling product-related emergencies. Below are more details on this story and crisis management in this video of Retro Report. Here’s a social media risk management plan tailored for brands for effective crisis management. 1. Risk identification: Identify potential social media risks, such as reputation damage, data breaches, legal compliance issues, and crisis events. 2. Risk assessment: Evaluate the potential impact and likelihood of each risk to prioritize them effectively. 3. Prevention and guidelines: Establish clear social media usage guidelines for employees, including appropriate content and engagement practices. Enforce strong password policies and enable two-factor authentication for all brand accounts. 4. Monitoring and alerts: Utilize social media monitoring tools to track brand mentions, sentiment, and potential threats. Set up real-time alerts for unusual activity or security breaches. 5. Data protection: Implement stringent data protection measures, including encryption, secure data storage, and regular security audits. 6. Crisis response plan: Develop a comprehensive crisis management plan with predefined actions for addressing negative events. Assign specific roles and responsibilities for crisis communication and resolution. 7. Legal compliance: Stay informed about relevant laws and regulations related to social media usage and advertising. Ensure all social media content and activities comply with legal requirements. 8. Third-party app evaluation: Thoroughly vet and monitor third-party apps or tools used for social media management. Ensure these tools adhere to strict security and privacy standards. 9. Incident handling: Establish a well-defined incident response process to swiftly address social media-related incidents. 10. Communication strategy: Develop a clear communication plan for addressing stakeholders, customers, and the public during a crisis. – Prioritize transparency and timely updates. 11. Regular audits: Conduct regular audits of social media accounts, content, permissions, and security settings. 12. Employee training: Provide ongoing training to employees about responsible social media practices, data security, and crisis communication. 13. Continuous improvement: Regularly review and update the risk management plan to adapt to evolving social media trends and emerging risks.