Modern society is characterized by a high degree of development of innovative technologies that have led to the development of such valuable and practical tools for business marketing as social networks. Research states that they can be used “to expand geographic reach to buyers, bolster brand evaluations, and build closer connections with customers” (Li et al., 2021, p. 51). One of the main advantages of using them is the dissemination of information and awareness about the brand. This action can be saddled with the help of various advertisements on online platforms. Moreover, this is the least expensive way that companies can use to attract and spread their influence to the target audience. Furthermore, the constant interaction of people with the company’s advertising or directly with its website is the most pronounced advantage of social networks for marketing. In addition, a significant advantage is to increase brand loyalty. This is due to the fact that online platforms allow you to constantly monitor and analyze the audience. Thus, the company can constantly receive data, the interpretation of which will help to improve customer satisfaction. The third benefit of social networks for business marketing is the geographical expansion of its capabilities. In other words, companies can expand their activities to other markets and attract buyers from all over the world. Therefore, with the expansion of the scope of business activities, the number of the audience increases. This factor leads to financial benefits for the company. This is due to the fact that an increased number of individuals interested in purchasing a service or product will affect the increase in profits. Hence, the above factors prove that social networks positively impact the development of a business marketing strategy.
Li, F., Larimo, J., & Leonidou, L. C. (2021). Social media marketing strategy: definition, conceptualization, taxonomy, validation, and future agenda. Journal of the Academy of Marketing Science, 49(1), 51-70.