In today’s competitive business world, no business survives without proper branding. Branding is therefore important to every business regardless of the size, because it helps distinguish a business from its competitors. As a key component of branding, brand communication determines whether a brand is successfully established and eventually turns a profit. Since brand communication is not free of cost, it is really hard for enterprises, especially Small and Medium Enterprises (SMEs), of Bangladesh to carry out a successful brand communication program through traditional marketing activities, which include banner ads, text ads, e-mail, radio and television advertising etc. However, social media has evolved over the last few years to become the most affordable springboard for brand communication through engaging customers in innovative ways and making them true stakeholders in the value-creation process. Attracted by its potential to drive sales opportunities and to enhance customer engagement, companies of Bangladesh are also coming forward to embrace the full prospects of social media. This paper attempts to explore the problems and prospects of brand communication through social media in the context of Bangladesh.