Social Media 's Impact On Business

According to a survey report done by the Kelly services with 170,000 people from 30 different countries, 55% of all the participants believe that the use of social media for both the personal and professional posts can cause problems in the workplace (Bennett, 2012). According to a study done by the proof point, many US companies that have hired the employees more than 1000 in number face a real problem with their employees to use social media (Ostrow 2009). Almost 17% of these companies had faced serious disrepute due to the offensive comments on the social media websites (Ostrow 2009). Almost 13% of the US companies have investigated the use of personal text messages that have been found to infringe the company’s law (Ostrow 2009).

According to Wright State University newspaper The Guardian, writer Jessica Schirtzinger expresses how technology has helped businesses create a globalized economy overcoming geographical, cultural, and language barriers. Technology brings people together easier. It is more convenient making a Skype call to numerous people in different parts of the world because of technology. Social media is also a tool businesses use to advertise their products. Social media allows businesses to interact more with customers. For example, on twitter customers can easily tweet a restaurant or company complaining or praising their product and the company or restaurant can quickly reply. In the graph below found in the 2014 Social Media Examiner report, although sales only improved by 50% there are high numbers in exposure and loyal fans which is still beneficial to businesses (Fig. 1). Overall, technology has helped businesses grow and work more

In today’s modern society, a business can’t simply operate successfully without having a digital footprint, the Incorporation social media into business is a virtue. Social media and mobile technologies have forever changed the way we work and communicate with one another, transforming our worlds into one global community. Social tools will continue to evolve, as will the expectations of how people utilise them.

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.

The number of people that rely on social media for this purpose continues to rise year after year. For this reason, businesses of all shapes and sizes should learn more about how social signals can affect their business and how to utilize them to their advantage.

Issues include the inappropriate use of social media for personal use, defamation, harassment, misleading and deceptive conduct and uncertainty over the ownership of intellectual property such as blogs and contact lists. Though employers are not in control of the use of social media itself with regard to what is and not published, they can control the conduct of their employees during work hours. Social media now presents a real legal threat to employers, and it is an absolute must for businesses to have dedicated and well-communicated social media policies governing the usage of these technologies

In the years that followed the dot com bubble, social media has made great headways in the way internet users connect with one another. With advances in the way communication channels have opened up, majority of companies did not immediately join the social media revolution. Instead they took to the sidelines, observing the actions of interactions rather than taking part in the development and monitoring of these operations. This could have been attributed to the unclear understanding of how social media could be beneficial in the long run. Unlike traditional media, such as broadcasting centers, and other media outlets, social media allows for a two-way interactive experience to solve problems that could arise in the operation of businesses. Even with the establishment of such current pathways of communication, there is a downside to social media that argues for the privacy, security and the protection of intellectual property.

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.

The day where the only method of advertising for businesses was paper advertisements is long gone with the creation and evolution of social media. Social media websites such as Facebook and Twitter allow for a greater interaction between businesses and their customers. There are many different ways that businesses use social media today to promote their brand. For example, some companies offer special promotions for their social media fans. The number one focus when using social media is communication between current and potential consumers and the business itself. This may be in the form of advertisements, or even offering customer service through social media (Gleeson (2012)). This is a popular way for airlines and other companies to provide customer service, as many consumers are sick and tired of waiting on the phone, can now simply go online and get customer service instantly, leading to increased customer satisfaction.

In the globalized world, social media has becoming increasingly (Madden & Zickuhr, 2009). The social media applications have dominated the way people interact with each other, it also impacts on the way we do business in comparison with that in the last decade. The question should be mentioned firstly ‘what is social media?’ There are some ways to define the term social media; however, in general, this is considered as a place where meets the demand for social interaction by using technological advancements such as web-based technology (Constantinides, 2014; Kaplan & Haenlein, 2010; Safko & Brake, 2009). Similarity, Tuten and Solomon (2013) also defined social media as ‘the online means of communication, conveyance, collaboration, and cultivation among interconnected and interdependent networks of people, communities, and organizations enhanced by technological capacities and mobility’. There are some types of social media and ‘there is no definitive typology of different types of social media’ (Kaplan and Haenlein, 2010); nevertheless, it can differentiate towards social networking (e.g. Facebook), professional networking (e.g. LinkedIn), video sharing (e.g. you tube) and so on. From these meta-analysis, it also cannot be denied that nowadays, social media plays a key role in giving the democratization of information, knowledge in which it allows individual and entrepreneurs to take part in social communication in some way that have never ever existed before (Fischer and

A lot of research has been done over the last few years to prophesize social media as a new form of customer-centric relationship building. Building a network or using social media to deepen customer intimacy has become the norm of today. However, what is often overlooked is the impact of social media to change behaviors, and the potential to use social media to impact a professional’s decision-making processes. This article discusses the effects social media has on business, its advantages and disadvantages. Social media can affect business’s marketing, communications, reviews, transactions, day to day operations, and other business

It was explained earlier in the paper what factors will be analysed in order to draw conclusions. These elements are how Facebook revolutionized contemporary marketing approach, the effect on big brands and small businesses, Facebook’s role in a business and all the tools and strategies they offer will be presented, analysis of the businesses who include Facebook as a marketing key in their business. Comparative data will show the competiveness and efficiency between Facebook and Twitter.

In today’s world everything revolves around technology. Left and right people heavily use and rely on their phones and computers to stay connected with one another and the rest of the world. People use social networks several times a day for variety of reasons. More than ever before people use the internet to shop for a wide variety of items. With a click of a button a person can find and buy just about anything on the internet, from houses to clothes to plane tickets. The things and possibilities social media offers are endless. People not only get to shop and search the web for the best prices for the same or similar product, but they also get to find out more about the specific item by reading reviews left by other customers. Although, internet can be a very useful tool it can be a very dangerous one as well. There is no denying that social media has become an important part of our lives, and with that being said businesses nowadays feel extreme pressure to be where the customers are.