SWOT Analysis for Social Networking Services

Today I would like to talk about SWOT for social Networking Services. On the usual concerns, I think it is helpful to work on a SWOT analysis of social media or networking services as an information vehicle for any person or company. It will be great if you could leave your comment below so we can work on a final, more official version of this SWOT. Thanks in advance!

Here they come:

Strengths:

• Social sites provide better ways to keep in touch with our classmates, friends and family.
• Creating your network of contacts goes beyond geographical and cultural differences as you get to know and meet people.
• Procuring information on a specific subject is faster and easier.
• It leverages to reach more and more people with less effort to spread the words.
• It is cost-effective in the sense most of the platforms are free. They just demand time.
• There is a human factor that means a brand becomes more HUMAN as there are real people behind your Twitter, Bebo, LinkedIn, Facebook account.
• It can also build strong, long term relationships through online social networking.
  

Weaknesses:

• It is very personal. To ensure you get the best out of social networking service as a channel, these efforts should handled by individuals who MUST understand the company.
• Because the channel is in continuous change and improvement, this means that companies have to adapt effectively and promptly.
• Making up for mistakes: The time-frame to correct errors that affect your audience is less.
• Because you are heavily exposed, your company has to take action more promptly than if you weren’t

Opportunities:

• Your efforts in Social media, together with the effort of your following may mean that your audiences become your best sales people.
• Because Social media is for everyone, sooner or later you’ll come across people you never though of as your client. This opens the doors to building new relationships but also to valuable feedback that can help you develop your products or services more intelligently.
  

Threats:

• You can sometimes forget that the whole world can see your information. This might be your address, age, name, phone number.
• Identity theft and fraud are two bothersome concerns that have come out of social networking sites. The e-mail address, name, location, age, and many others are personal information that users give out, and others can use them in performing illegal activities.
• There are also people who pretend to be somebody else and convince you that they are in for a business deal. But, the truth is they are there to rob you out of your money.
  Virus’s and hackers are the biggest downfall. Never knowing when the site your viewing is secure or just a scam in order to get your personal information.
• While this is an opportunity it is also a threat because during conversations humans can make mistakes and your following will notice.

(Accessilbe on http://www.channelship.ie/blog/post-570-social-media-swot-analysis-whats-your-opinion.php