The Increased Business Risks Posed by Social Media as COVID-19 Forces Remote Working
AGN Global Business Voice:
In this edition of the AGN Global Business Voice, we take a look at how SMEs deal with their social media activities – through the lens of our panel of 46 business advisers/firms across the world.
Last year it was estimated that 3.4 billion people were social media users - that’s 9% up on 2018 and a staggering 45% of the world’s population. In March this year, i.e. peak pandemic, Facebook announced a 50% increase in messaging on its platform in the countries most affected by COVID-19. Between February and March, Instagram recorded 4.4m new users. For
some time, people have become concerned about whether the benefits of the social media phenomenon outweigh the social problems it creates. But, whatever you feel about social media, if you run a business, the statistics tell you it shouldn’t be ignored.
There is increasing scepticism about the commercial uses of social media with some suggesting that the ‘must-have’ digital targeting platforms are less of a laudable gift to SME business than was once thought. There is even the suggestion that Facebook has created a whole generation of ‘bad customers’ – lazy, disloyal, expensive, elusive...and fickle.
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