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Impacts of social media on business
Impacts of social media on business
Impacts of social media on business
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As the Internet technology continue to evolve daily to accommodate the need for society to be interconnected through social networking, all businesses that aspire to have competitive edge must make social networking a decisive component of a business. Primarily, social networking sites have empowered individuals and groups to share information about anything across the globe in real time (Lane, 2012). Also with social media capabilities coupled with fast Internet, all the business customers are capable of researching, selecting, and reviewing particular brand of goods or services anywhere at any time. Then the readily available mobile access makes it easier for customers to share their experiences on a particular services or goods in their own time. As a …show more content…
First, the social networking is being primarily for knowledge management and expertise locations with companies according to Kho (2007). Secondly, the social networking is powerful organizing tool to organize groups of people or customers in this case. Also on social networking platforms, users can exchange information easily on products which business could adopt for organizing business events and customer information exchange (Ladhani, 2011). In regards to Lamont, a senior writer from KMWORLD, social networking primary impact to business is the incorporation of social networks into established business process. As an example, many business incorporated their social networking such LinkedIn into human resourcing programs such as recruiting, customer service, and innovation (Lamont, 2009). Third, some companies has set internal social networking to bridge communication between departments within the organization. Lastly, the social networking platform makes it possible for companies to use profile to get in touch with a larger number of people than any face-to-face
The increased interest of social media usage has led numbers of company and business to provide new experiences for their customer to leverage media platforms to make more efficient and effective purchases (Rad, 2010). In addition, the emergences of Web 2.0 technologies are dramatically changing the web collaboration concepts, which made the web more social and interconnected. The aforementioned phenomenon is called “social commerce”. It is a subset of electronic commerce, which utilize social media, or online media that support interaction and user contributions to enhance the online purchase experience.
With the invention and development of the Internet, communication has changed in to a revolutionized platform. The Internet has evolved from a means to facilitate data, to a stage of public communication through the use of social media. Social media has affected every aspect of interaction from personal lives to the business world. The business world however, has been especially impacted by the application of social media. Social media has opened up a plethora of opportunities for businesses to advertise, promote and market themselves to consumers. Social media “is one of the fastest growing and most promising strategies a business can employ to boost sales and conversions” (Adobe). As social media continues to grow as a marketing tool, more and more companies have incorporated social media into their daily business activity for brand awareness, target market reach, business expansion and customer interaction.
Social media is a modern way to manage the business; this is a useful to the companies to manage the existence in the market approach to the brand and consumers. Also, using a social media they are able to get the feedbacks from customers and able to improve their business. Additionally, social media is used everywhere by everyone and people go on it a lot of times in a day. Therefore it is important for the business to fit to the changes occurring in the market frequently in order to keep the business working properly and not losing customers.
It is proved that developing social media has improved the marketing platform. According to many marketing consultants, social media marketing efforts get up to 50% better return than tradition average tv or radio spot (Horovitz). These reviews show the growing connection American has with social media. Also, according to my research, “more than 80% of small companies use social media to promote their businesses list Facebook as their top marketing tool, followed by LinkedIn and Twitter, according to a recent survey of 2,292 small businesses by Webs” (Loten). This information shows the impact of social media on small businesses. According to Penenberg, “ Social networking sites, a component of social media, was responsible for more than 13.8 billion display advertisements in August 2009, which accounted for at least 25 percent of all display advertisements viewed via the internet” (Penenberg 125). This shows that, social media has changed global marketing, where marketers are not only depending on just communicating to a target audience, but also discovering new methods to impress people through Social
Within this paper reflects the qualitative and quantitative recollection of how social media and other masses of media having over-run our lifestyle. The influence of daily routine had been shaped by merely checking our phones every other minute. Markets growing and becoming more socially interactive with their customers has been good for business and shown an increase in attracting the appropriate people towards business and with that has our society grown and been influenced to become a more socially interactive unit. We live our daily lives surrounded by social media and mass media just by the way we divulge the information we know we utilize it every day and everywhere and it seems only inevitable to become more technologically advanced if we are to keep up with our growing society these days.
Social networks are living their big explosion and organizations can not remain outside it. Improve positioning, branding, business communication, creativity, participation, knowledge management. Multiple business processes can be benefited through use. Sites like Facebook and Orkut, with over 300 million users, 210 MySpace, Hi5, Twitter, Tuenti, with respectively more than 80, 50 or 40, surely they are already
Social media is pertinent in use of communication throughout today’s organizations. There are many social media platforms that allow organizations to convey communication to potential consumers, stakeholders and the public. “It is essential for leaders to integrate these technologies and seek the best way to use social media and networks to the advantage of the business” (Billington, 2012, p.1). Business owners find that keeping up with current technology trends is essential in having a competitive advantage in the market place and having a strict set of standards and strategy is important in quickly adapting to social media trends.
Today’s leader must learn to manage and use social networks as a communication tool with customers and suppliers, and convey the importance of these new technologies to their partners, and to promote innovation processes within the company, which in times of globalization is essential, due to the large number of companies that are on the market. This requires organizations to always be at the forefront, offering the latest in products and services.
Social media is a form of online communication channels devoted to society input, intercommunication, and cooperation. In social media, people can talk and interact without restriction, exchange and debate information with each other about their lives by using many different combinations of the words, personal multimedia, photos, and videos. Also, in social media, individulsa and groups can create, edit, comment on, and engage in personal conversations. There are numerous types of social media, for example, wikis, blogs, social network site, micro blogging services, and sites sharing media. At the beginning, social media was limited to a few networks sites, for instance, Bulletin Board System that allows people to communicate with each other and post a comment. Today, social media has transformed from ineffective sites to more useful and effective websites, for example, Facebook, and MySpace. Some companies are using social media to achieve their goals which is attracting more customers to company website. Three advantages of using social media in business are: raising brand consciousness, building customer relationships, and increasing performance measurements.
Social media start as a very personal tool for users to communicate with their friends and closely related people. Soon after, business area have also take the advantage of this innovative way of exchanging information.
Since social media users grow larger and larger, many companies take the opportunities of using social media marketing to reach more customers. Companies use social media marketing in order to achieve marketing communication and branding goals. Social media allows companies to see what prospects are saying about their brands and competitors. It also allows companies to build deeper relationships with existing customers that drives them to purchase again and again. Not only it can help them generate new leads, but it allows them to build deeper relationships with existing clients that drives them to purchase again and again. It has become common for businesses to branch out and experiment with multiple networks with the aim of reaching the maximum amount of costumers.
Among the billions of social media users, there is a percentage dedicated to businesses who use social media as part of their marketing strategy. The sheer number of people who use services like Facebook and Instagram on a daily
Started as a way for individuals to communicate and connect with one another over the internet, social media has evolved into a valuable tool for business. Social media is not only beneficial to modern businesses, but necessary. The biggest reason social media is so important to businesses is the size of the audience that they can reach. From a public relations standpoint, social media is a very powerful tool. It allows a company to instantly reach out to the public and receive feedback just as quickly.
Social media is a internet-based tools that promote collaboration and information sharing. Social media can be used in academic settings to promote student engagement and facilitate better student learning. The students can use the social media to find any information because can save time and faster to access information. The students also can improve their knowledge and language level when using the social media in students daily routine. Social media can promote community development through collaboration and information sharing. When use the social media it can provide opportunities for individual expression as well as interactions with other users. Current research has indicated that using social media as an educational tool can lead to increased student engagement. Social media can give more experience in daily life and give more knowledge
Deepa S. D., Chopade, N., & Ranjith, P. V. (2012). Social Networking Sites — A New Era of 21st Century. SIES Journal Of Management, 8(1), 66-73. Retrieved February 8th, 2014, from EBSCOhost