The absence of Internet-based social media has made it possible for one person to communicate with hundreds or even thousands of people around the world. Social media has exploded as a category of online discussion where people create content, share it, bookmark it and network at vast rate. Social media includes a variety of applications that, using technical terms, allow consumers to „„post,‟‟ „„tag,‟‟ „„digg,‟‟ „„blog,‟‟ and etc.

Advantages

• Cost-related According to Weinberg (2009), The main advantage of social media marketing is cost-related. The financial barriers to social media marketing are quite low compared to others. The majority of social media sites are free to access, create profile and post information. Whereas traditional marketing campaigns can cost millions of dollars, many social media tools are free even for business use. Businesses can run highly successful social media marketing campaigns on a limited budget. The advantage of reaching your targeted market for little or no cash investment is substantial, and the audience wanting your information voluntarily joins or follows you.
• Social Interaction One of the most notable phenomena of new media is how it has increased and created new forms of social interaction. People spend more than a quarter of their time online involved in communication activities (e.g., emails, IM chat, and social networks), which is equivalent to the total time spent online for general leisure and entertainment.

Disadvantages

• Time intensive As the name implies, social media is interactive, and successful, two-way exchanges take commitment. The nature of marketing changes in social networks, with the focus placed on establishing long-term relationships that can turn into more sales. Somebody has to be responsible to monitor each network, respond to comments, answer questions and post product information the customer deems valuable.
• Trademark and Copyright Issues According to Steinman and Hawkins (2010), It is of the utmost importance for companies to protect their own trademarks and copyrights when using social media to promote their brands and products. A company‟s brands and other intellectual property are often nearly as valuable as the products or services that they offer.

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Source: Researchgate