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it depends on your business, for small business you could sell through social networks, for medium business it helps in public relations and distribution and huge business to collecting data about your customers their needs their feedback, also it have a big role during a market research for a new product ;)
Social media can be an efficient tool to boost your business and can play an opposite role as well. this requires all personnel to publish any comment about their company considering the company privacy rules.
Publicity for any business is importent, you should know how to use it in your favour.
The wrost thing about social media could be bad reviews and comments on your company or products.
But maintaining a good quality of product and also making customer satisfaction your number one aim can sway the majority of your custmers.
Worst could be negative publicity by a competitor, so, one has to be careful and stretch out to reach out to each feedback giver, especially if any negative response and analyse for corrections or expose the motivated feedback.
Another lacuna is that online platform has to be maintained well with resposes and management of updated space so that only what is desirable gets highlighted and what public asks is well responded.
In the past if you sold a faulty/low quality product to a customer, the worst that would happen is a confrontation with an angry customer that would tell his/her circle about you. With Social Media both the posititves and negatives are out there for the world to see, things become pretty much transparent about your company's reputation and image - that in turn is the deciding factor for many if they are going to conduct any sort of business with you.
