Social Media, Society and Modern Business

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.

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.

This research proposal is geared towards understanding the influence of social media in online business. With the growing number of social media such as Facebook and twitter, the nature of human purchase decision making has been changing. In light of this, there are companies that provide platform to sell and buy goods and services online. This particular research proposes ways to solve purchase decision using Facebook along with the already established mobile distribution technology offered by Airtel and MTN in Uganda. To find the influence the research will use survey and use the social media platform for research .The proposal aims to find how influential social media are in making purchase decision making and building trust between buyers and sellers. This emerging technology will enable various stakeholders to benefit in online business and build competitive edge among themselves.

Social media has grown into one of the most useful digital marketing tools for business owners and corporations and is designed to feed us information at a fast-moving speed. There are many advantages to this development as well as disadvantages. Information is easily obtainable, instant and causes credibility issues. It is important to know and understand all the benefits and disadvantages before using social media because it can alter how a person may use it.

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

Social media plays an important role in how products and services are discovered researched, and information is shared. As a matter of fact 60% of consumers found information on products and services through searches on multiple online sources such as networking sites. Active users of social media are more likely to read product reviews online, and 3 out of 5 create their

Due to the power of instantaneous and free connectivity, social media has grown tremendously since 2006; causing more and more people to reap its benefits. Social media has both positive and negative impacts on society. Its various platforms have encouraged expression, and increased political awareness. Although, many worry about privacy and fraud, powerful measures have been taken to help and protect citizens. But, the question remains: do the positives outweigh the negatives in society as a whole? In other sectors social media has remained, however, specifically, the business world has transformed. Businesses and owners change for the better by providing a stronger connection with their consumers, creating new jobs, maintaining a positive brand image, and increasing consumer

The way that individuals and businesses communicate and interact has radically changed. With the development of technology and the internet, people can connect almost instantaneously and with very little effort. Social media has come to play a huge part in the way that the world communicates with each other. In fact, a recent report shows that in a single month people spend over 25 hours on social networks (“The Digital Consumer”). With consumers committing that much time to social media sites, social networking has become an important aspect of everyday life for individuals—and businesses. Like most marketing activities, social media marketing poses some risk. However, it is advantageous for businesses to exploit this opportunity, and develop an effective and ethical marketing strategy that includes using social media as a marketing tool.

The evolution of online communication methods and development of social networks has transformed the operations and communications of many businesses. As the various social networking sites have continued to attract millions of users, social networking provides numerous benefits to businesses. Griffith (2011) states that users of social media are totally at ease to develop communities with common interests that help them to stay up-to-date through access to necessary information. Therefore, many companies and businesses have started to tap into social-media smarts to transform their advertising and communication strategies.

Over the recent years, new media has impacted on consumers more than ever. With almost half of the global population being active online and 30% of these owning a social media account, new media plays an extremely large role in society. These figures rise drastically each day. Social Media Today states that social media users have risen by a whopping 176 million in the past year (2014) with six new Facebook profiles being created every second. This is undoubtedly a market worth being a part of from a business perspective. Many companies are benefitting from this as they have seen this as an easy way to influence consumer behaviour and pick up on their habits.

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 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 taken off like a rocket throughout the years. The annoying sound of a modem connecting has turned into a soundless transaction. The wait time to connect is instant, opening a global world of interactions for people. You can now connect with anyone, anywhere at anytime at least once a day. Social media defined by Goyal is “Any platform,which provides the facility of sharing ideas, exchanging information and sending messages over an electronic medium, is considered as social media.” (Goyal,222). This is to include online magazines, Facebook, Twitter, Newspapers,Email, Blogs, YouTube and many more. Advertisers have taken notice to these platforms, utilizing social media to promote their brands, develop trust with the consumer,save money and target audiences faster than ever before.

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.

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.