Social Media Impact on Businesses

999 Words Nov 24th, 2011 4 Pages
QUESTION:
Does the availability and use of social media on the Internet really provide businesses with new and different useful information? If so, how? If not, why not?
MY POSITION: The availability of social media can and will provide business with new and different useful information.
DISCUSSION:
Social media is now widely used throughout the world. Below are some statistics in the social network use in the United States. * 38,000,000 people in the US age 13 – 80 said their purchasing decisions are influenced by social media, a 14% increase in the past six months (Graham, P., 2011) * 1,000,000 people view customer service related tweets every week, with 80% of them being critical or negative in nature (Dugan, L., 2011)
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Social networking is sharing information between members and this information can reach a wide audience. This information’s are focused information centered on conversation between groups with shared interest.
Businesses that uses social network and have learned to create content and engage in conversations are already benefiting from these social networks. The number of people that can reach can easily outnumber other types of advertising or survey platforms.
With the continued popularity of these social networking businesses that do not embrace these technologies are at a dis-advantage from those companies that have embraced it. The use and benefits of social network can only be measured by our imagination.
Social network will continue to grow and improve. In the future, businesses will be relying upon social networking as their main platform for most of their activities (i.e. advertising, surveys, product reviews).

References:
Graham, P. (2011) “Social Media Now Influences Brand Perceptions, Purchase Decisions of 38 Million in U.S.” Knowledge Networks. Retrieved on November 26, 2011, from http://www.businesswire.com/news/home/20110614005666/en/Social-Media-Influences-Brand-Perceptions-Purchase-Decisions
Dugan, L. (2011). STUDY “More Than 1 Million People Per Week View Customer Service Tweets”. Retrieved on November 26, 2011 from
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