Social Media And Its Impact On Business

Social media being an ever growing industry, companies have incorporated their marketing and strategies to better their businesses. We explore that the reasons for the importance of incorporating this is: The daily use of handheld devices to access social media on a daily basis amongst computer use, Big data: online tracking produces oceans of data, challenging business analytics programs, Twitter, Facebook, and Pinterest

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.

In this essay I will be writing about the Social Media’s impact on Global Business and the changing life lifestyle of human. Later in the essay I will write about the statistics which are showing, how Social media is a future of customer service. In present time social media is one of the most important factor which is impacting global business, now a days there is a revolution happening and there is a significant fundament shift in how we communicate today and social media is touching almost every aspects of our personal and business lives. The growing social media industry is generating jobs and also created a new branch of marketing and education.

People from almost all age groups, especially the teenagers and adults prefer to socialize through various social media websites for networking and this trend has been increased since the last decade with a wider internet utility. Though the social media websites are not less than any golden opportunity for online marketing in business, however, many cases have been reported for the job dismissals due to the controversial personal posts to the social media by the employees. The posts that have been done to the social media websites can be in the form of personal messages, photos, video clips, audio recordings, and comments on other’s posts. Hollifield, the Winter Part Employment Attorney

Social media is not new. Facebook has been around since 2004, YouTube since 2005, and Twitter in 2006. What is new is how social media sites like Facebook, YouTube and Twitter are affecting the way businesses market their products and services. Never before in our history have consumers been able to communicate so effortlessly with each other and with the businesses they frequent. Never before have businesses been able to interact and react to customer feedback so quickly and efficiently. However, just because businesses have the ability to use social media for their marketing and advertising efforts, does not necessarily mean they should. This paper intends to

We cannot deny how big of an impact social media has on our lives now, not only on people but businesses too. It has opened a whole new door to the business world and given them a big opportunity to interact and attract a larger amount of customers. It’s given us a new and faster way of communication by exchanging pictures, stories, news, blogs, online discussions, etc. In exchange businesses have benefited by a long shot just by the click of a button. With the help of the Internet a company no longer is dependent on a particular customer base to survive because now it can reach out to a worldwide audience within seconds. It’s imaginable the countless business attributes of all social media to this day and still is growing. Social media

Even though the original intention and many conservative business people still see social media as only intended for connecting friends, it has grown to be an important tool in management of both business and customer information as well as a marketing tool. As a result, social media has been one of the best business innovations in transforming the way business is transacted. Regardless of the conservative lot mentioned above, majority of business leaders have taken up social media as a tool in management of employees, marketing and communication.

Social media is capable of connecting a brand with its consumers and discover how they are being perceived, it also has the power to change perceptions and identify the key people within the business network. The unique feature of social media is that it can provide corporations and businesses solutions developed through operating with consumers and stakeholders. Basically, social media serves as a visible connection to one’s corporation and its stakeholders, consumers, suppliers, etc, who each have a defined role within the system to filter and regulate information. As mentioned earlier, the influence of social media is spreading in a proliferative pace that has resulted to an essential transformation in society, technology and business customs.

Before the invention of the Web, organizations had only two significant choices in order to attract attention: they could either buy expensive advertising or get third-party ink from the media. The old rules of

Today, many businesses are experiencing the effects of social media. Government, businesses, and communities interact through social media and use it to access their investors and potential customers. According to Donovan (2016), “Most types of businesses today make use of different tactics and techniques to make a significant exposure of their website to its target customers.” The goal is to use social media to maximize their potential in order to be one of the strongest participants in the business world.

Social media is defined as a group of Internet-based applications which build on the platform of Web 2.0 and the contents of these applications can be modified by all users in a participatory and collaborative method (Kaplan and Haenlein, 2010). Social media creates a platform for companies to talk to their customers as a hybrid element of promotion mix. With the emergence of social media, the tools and strategies for companies to connect with customers have also changed (Mangold and Faulds, 2009). To adapt with the emergence of social media in the marketing, companies should have unique insights about these significances (Quan-Haase and Young, 2010). The significances of social media embody three main aspects which are technology, decision-making and purchase behaviors of customers.

Social media or social collaboration has fundamentally altered the way we collaborate, create, communicate, and even consume. Social media has had a transformative impact on customer relationships. According to a 2012 Nielsen’s social Media Report, almost half of U.S consumer use social media to ask questions, report satisfaction or to complain, and a third of social media users prefer “social care” to the phone. Customers are in charge and influence each other in their buying decisions on a large scale never existed since the 21st century, where the word of mouth served as the only information channel. Customers through social media have a powerful voice that can reward organizations that listen to them and punish those that do not. Per Mark Schwanhausser, a senior analyst at Javelin Strategy and research, Social media is rewriting that rule and increasing the speed with which banks have to respond. (Quittner, 2011). The energies and opinions of customers are captured by social media. The contents of social media may be a review, information to fix or configure something or an innovative way to use or optimize a product. The contents may represent an invaluable data source against which a company can perform analytics and derive insights and trends, customer purchasing trends, and an early warning of safety or satisfaction problems. These insights and advanced warnings provided can inform the decision making process, such as go-to-market and support strategy, continuous

For decades now Silicon Valley has been the capital for major US technology firms and has become a thriving ecosystem for innovation. Household names in tech ranging from Apple to WhatsApp continue to drive innovations that improve or replace today’s major industries and business practices. Although many start-up companies fail to gain traction or widespread success, a handful of companies have risen to world-wide success and multi-billion dollar valuations at a pace never before seen in business history. The well-known social media company Facebook has built a value of over $245 Billion dollars and the car service phone application Uber has seized a notable share of the taxi cab market although neither company existed 12 years ago. These rapid innovations and a general culture of innovation are overthrowing well-entrenched incumbents and revamping the structure of a diverse array of markets. Large, successful firms that fail to adapt their products, business models, and strategies will inevitably decline at hands of small disruptive competitors. Destructive innovation, however, is not a new concept. Technological advancement has been the cornerstone of growth for most economies and particularly for the United States for hundreds of years. Disruptive innovation and growth leads to the reallocation of value amongst firms within any given sector and between the sectors of the greater economy.

Generating sales leads or locating new customers can be quite the challenge in today’s business world. While technology has made it easier to expand the presence of a business, thanks to the usage of social media’s such as twitter and facebook, other competitive business will also be utilizing these tools. Although some people believe that the usage of social media’s isn’t the best method but instead leading up with webinars and trade shows tend the have a much bigger impact. Plenty of companies tend to disagree, swear that Linkedin and Facebook are perfectly valid ways of locating new customers.

In the last 15 years, social media platforms are perceiving as becoming various actual perspectives around the Arab world, and in particular, in Kuwait, it has been noticed that social media that enhance the quality of life of people moving it to another aspect where people use certain platforms for such need. In addition to Business profitability and governmental interaction with the society. Users do, However, the