The Impacts of Social Media on Businesses Student’s Name Course Professor’s Name Date The Impacts of Social Media on Businesses Introduction This presentation aims to discuss the impacts of social media on businesses. The advancement of technology and the wide use of social media platforms have given businesses a new dimension of relating to their customers and promoting their goods and services. Social media use has increased tremendously across the world and businesses have taken the advantage to use the social media to promote their products and keep in touch with the customers. There are various advantages of social media to both individual people and businesses. However, the use of social media has been found to have its shortcomings. Impacts of Social Media Customer Relationship Management Social media has enabled businesses to strengthen their relationship with the customers (Evans, 2012). Businesses can have real time online connection with both their existing customers and potential customers where a company can convey information regarding its products. A strong engagement between the businesses and the customers through social media results to greater impact on sales, product improvement, customers’ satisfaction, and brand reputation. Customer Retention Businesses and customers can always keep in touch through social media which result to customer retention (Kaplan & Haenlein, 2010). For example, majority of customers who become followers of
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.
The paper will began by an overview of the social media sector accompanied by its impact on human behaviour. I will then talk a bit about the modern marketing strategies which companies are using through social media. Later on I will describe the Statistics that Show Social Media is the Future of Customer Service. Finally the essay will conclude with my opinion about the impact of social media on today’s business world and human life.
We are successfully utilizing social media as a powerful way to gain positive exposure and connect with our internet-savvy customers in a global and local level. We rely heavily in word-of-mouth advocacy”. (John Mackey, 2012)
Social media has become an essential channel for corporations to build a two-way relationship with their customers. However, having a social media account cannot solve everything. To make the best use of social media in keeping a positive relationship with their customers, corporations ought to seek and maintain influence among their followers in social media, and participate in communications with them.
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
Social media in business continually rises to be an in important tool in everyday business and this means that communication is greatly evolving. In this development period, social media has had a prodfound impact on businesses especially in marketing. As a result, many are using social media as a communication tool regardless of the negative impacts experienced in some aspcts of social media.
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.
Social media has become a prominent part of life for many young people today. Most people engage with social media without stopping to think of its influence on our lives, whether positive or negative. What will the long term effects of today's social media use be for our youth? Social media has revolutionised how most of us communicate, especially regarding young people, even in the most remote Indigenous communities in Australia youth culture is being reshaped through digital technologies. Young people are provided with a range of positive opportunities to maintain social connections and support via online social networks as well as learning and participating with a multitude of interests. Along with these opportunities there are also risks associated with social media such as social isolation or loss of privacy as well as cyberbullying and self-esteem pressures. We need to develop the opportunities offered by digital and social media to promote learning and wellbeing for our youth that is inclusive of young people’s input and ideas.
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
The purpose of this report is to show that even though some state that Social Media has fallen short of their expectations, it is actually good for business, given that it enhances the visibility of their brand and helps businesses stay connected to potential customers.
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.
This presentation is on social strategies that promoted relationship with customers. The internet is the tool used today to communicate; the power lies in the hands of the user. Almost everyone can share their opinion and can express themselves freely through social media. We begin this presentation by introducing social strategies that promote relationship with customers. In Piskorski (2011) researched, he demonstrates three components that bring a successful social strategy. Each of these components will be address. Anyone using social media must be careful so it is important to understand how information is communicated. We will review the 7 Cs of communications and recommend Talpau (2014) marking components that are
Prior to the evolution of the internet and social media, organization relied on traditional marketing to market their products or services. However, present day organizations should focus on social customer relationships to market their brand. A social customer relationship involves a connection between an organization and their customers. More specifically, relationship marketing will allow an organization to keep in touch with specific target markets while keeping them engaged (Janet, 2013). The communication between an organization and a customer through social media allows organization to be transparent (Greenberg, 2010). Moreover, customers are able to receive information from an organization at “real time”, while giving feedback about a product or service. This allows the customer to be empowered ad enable them to receive continuous and interactive access to an organization. SHLD should look into a social customer relationship management system to prove to their customers that they are working for them. This system will promote customer priority within the organization, thus generating relationships between the organization and clientele at a rapid rate.
To gain more number of consumer shares, a particular brand company need to be actively present on Social media as the way social media has grown in past few years the best way for any brand to build the brand trust. The era of technology has changed the way of almost each and everything and so has affected the branding and community engagement. Marketers in the current scenario find it difficult building one on one relationship with the customers as it takes a lot of time and cost although being beneficial, due to