Impact Of Social Media On Business Essay

The use of social media marketing has become a standard way in which organizations advertise their products or services. Social media marketing allows consumers to have immediate access to other consumers reviews or to post a review about a product or service. There is engagement between the company and the consumer (Evans, Dave 2010). Social Media emerged in the late 1980’s when websites such as Prodigy, Compuserve and America Online. Prodigy was first of it’s kind and was known as a ”consumer online service”. Half of the page is devoted to advertising. Facebook, Twitter, Myspace, Hi5, Bebo and Orkut are all social media platforms that are utilized as platforms today.

One of the key roles of social media from a marketing perspective is the development of a client based platform. It is becoming an increasingly important part of any business’s marketing. Businesses can utilize existing online platforms to build networks of current and potential clients. By being active online allows businesses to connect with their customers in innovative ways to become a trusted source of information and convey the passion they have for their industry.

Appears that anywhere you look today you will find someone using social media. With advertisements and commercials even billboards Social Media appears to be anywhere you look. Social Media is such a big thing today, according to study provided by the website Socialnomics, individuals devote 700 billion minutes every month on Facebook (statisticbrain.com). Social Media has now become so much better for advertising that it is changing how business is done.

In the Information Age, social media has become the new top marketing platform for businesses. Whether big or small, businesses are turning to popular social media channels like Facebook, Twitter, and Instagram for their marketing strategies, since social media has become the new resource of large consumer outreach and high revenue increase.

Nowadays, social media hold a place alongside broadcast and print as a major, essential brand’s product and service channel for your businesses. As such, nowadays social media should be held to the same standards as those marketing channels that contribute a lot more to your bottom line

The three keys to successful marketing are identifying, targeting, and connecting with the right audience. In today’s technological world, having a presence on social media is essential to marketing success. According to studies, more than half of the population of the United States has a profile on at least one social networking site. Marketers who do not take advantage of social media are missing out on a crucial opportunity to connect with customers, and those who do are ahead of the curve.

Social Media is a forum that is heavily influenced by consumers and has become a very poplar way of doing business and expanding it and making people aware of your business. According to Oxford Dictionary social media is “Websites and applications that enable users to create and share content or to participate in social networking.” (Oxford Dictionary, 2015)

In today’s business world, social media is being discussed on a daily basis. This phenomenon has taken over the marketing and advertising industries and has changed the way they handle their efforts to attract customers. There is a big misunderstanding that social media are only popular networking sites such as Facebook and Twitter, but as defined by the Merriam-Webster dictionary, social media are “forms of electronic communication (as Web sites for social networking and micro blogging) through which users create online communities to share information, ideas, personal messages, and other content (as videos).” The rise of these online communities has given companies an opportunity to engage in conversations with their customers. This in

Chanel is a known luxury brand the word over serving millions of people. The company

The 21st century has seen the emergence of Web 2.0 and with it the ever increasing use of Social media. Three of the world’s most popular brands online are social-media related (Facebook, Youtube, Wikipedia) and the world now spends an increasing amount of time on SNS and blog sites (Nielsen 2010). Therefore how companies use social media as an effective tool in their integrated communications mix is becoming of far greater importance to marketers.

With every passing second, we get more connected. The use of social networks is at an all time high among consumers and businesses alike. Facebook boasts 900 million users; YouTube gets 4 billion views per day, and Twitter reports that 1 billion tweets are sent per week. The numbers are staggering, the growth shows no sign of slowing, and the writing is on the wall; if you want to reach consumers, social media is the place to do it. Or is it?

Social media marketing is the use of the online communities, social networks and blog marketing where companies seek to engage with their customers via online platforms. This mode of marketing is growing at a considerable pace explaining why many companies and businesses of all sizes are adopting the style (Neti, 2011). Trust and goodwill is the core in social networking and by marketing in the realm of social media; businesses need to adhere to these fundamental qualities. In addition, this marketing encourages fool proof communication and accountability among business people both the sellers and consumers (Neti, 2011).

The relentless emergence of the diverse Social Media platforms has been impacting the way people and businesses interact and communicate with each other. The purpose of the paper is to highlight the dynamics by which businesses and particularly Business to Business (B2B) companies attract customers and promote their products and services to them using social media. With an increasing competitiveness in various fields and the innovative ways marketers use to bring new prospects, some businesses have been left behind and have known a considerable decrease in their productivity due to the lack of use of the adequate social media channels.

Social media allows you to reach your target demographics, distribute your content and build a following around your brand. It is gradually becoming more challenging for brands to catch the attention of people as competition is getting fierce day by day. Therefore, brands are striving hard than ever to connect with their target audience across a

Today: Social networks are ubiquitous. It is projected that there are more social network accounts than there are people on the planet. They are one of the primary means of communications. We use them to stay connected with friends and family, as well as to stay informed on local and world news events. As an important note, when you consider the utilization of these social media sites, it doesn’t take long to realize the potential exposure that a business could have, if it chooses to leverage it. The social networking evolution has introduced a completely new sales and marketing channel. The impacts and the revenue generated from this industry will be a key focus of this report.