I agreed with this article in a general sense, but I would also question which kinds of business truly need a social media presence.
I often try to find online content for businesses I am interested in, to no avail. Or even worse, I find a site or Facebook page with irrelevant or out of date information. This is particularly true for restaurants, at least a menu online should be mandatory!
While information online can be really useful, I sometimes question why a particular business utilises a form of social media. For example, while interning I was tasked with writing the daily Facebook updates for a well known company which competes predominantly on price. I really struggled to find updates - there are only so many ways to say "We're still the cheapest" - I shudder to think what I would have done with their Twitter feed!
For those companies that DO need regular contact with their customers social media is a godsend! Daily specials can be disseminated with ease, and recognition of VIP customers is simple. However for companies where contact/price information is the most important, I feel a website meets their needs more accurately than social media.
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