SOCIAL NETWORKS AND BUSINESS: SIGNIFICANCE, BENEFITS AND PROBLEMS

Abstract

The importance of social networks for businesses, especially in the field of international activities (as users are usually not limited by the boundaries to access them) is considered. Today, social networking is understood as a web service which provides an opportunity of communication between large groups and associations of people in a virtual environment divided for interest. The data of the conducted researches on revealing of the most popular social networks which are used in the world and in Ukraine are analyzed. The studies showed that Facebook and YouTube are leading, while WhatsApp and Instagram change their positions depending on the country where Internet users reside. The structure of characteristics of social networks’ users by gender and age is given. It was found that the most active users are women, especially aged 25-44. These results can influence the formation of a portrait of a potential consumer when promoting a business on a social network. The advantages of using social networks by businesses are systematized, among which are: increasing the number of consumers, increasing the level of reputation, low cost of creating pages in social networks and its support, increasing loyalty among Internet users and, consequently, the frequency of visiting the official website, as well as increasing the users’ interest in the brand. Emphasis is placed on the problems that can arise in social networks, namely: destruction or lowering the company's reputation, devaluing its products or services, gaining unauthorized Internet access to the company's data, which can lead to its security breaches, theft of page users who are real clients of the company, etc. The stages of promoting a business in social networks are suggested, namely: identifing the target audience, by creating a portrait of the potential consumer; selection of a social network or several networks that are often used by potential consumers; creating an account and a content; interacting with the target group through social networking. The promotion of businesses in social networks can become the key tool that allows companies to stay in the market in pandemic times, even expanding it, creating a group of loyal users in different parts of the world.