The Benefits of Using Social Media for Business Purposes

1325 Words Feb 6th, 2018 5 Pages
If so, how? If not, why not?
The availability of social media provides businesses with a wealth of information they would not have access to otherwise. The information gleaned from social media can be used to predict consumer behavior, develop new products and services, and target market those products and services. Moreover, social media makes it possible to manage brands and company reputations. As Miliken (2010) points out, social media allows companies to "participate in the conversation" that goes on in the social media universe. Companies that ignore social media do so at their peril, risking isolating social media-savvy consumers and those who read social media sites. Milike (2010) states that the "risks of remaining idle are very very high."
Social media also makes it possible to perform effective crisis management. Owyang (2010) moderates a panel on which the "How to lose a job on Twitter" issue is discussed. A job applicant for Cisco Systems tweeted about the "fattie paycheck" she would get for doing "work that sucks." The issue created a bit of a social media sensation, given that the issue raised questions about Cisco's working environment and about the potential of social media to sabotage an individual employee's chances to be a part of the team.
There are few credible arguments that can be made against the power of social media…
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