Social media became more prominent in business world along the growth of social media. The study of the usage of social media in fortune 500 1and Inc. 5002 shows that large number of companies is very familiar to social media and adopts them to run their business (Barnes, 2010). Several kinds of social media are around nowadays, however, not all of them are effective in business. Although the adoption rate of social media is growing year by year, some kind of social media are declining such as Podcasting, message board, and blogging. The reasons why those social media are declining can be found in the difference of method of connecting people and perception between customer and companies. A company has to use right social media in …show more content…
Figure 1. Which of the following types of social media does your company currently use? (Barnes & Lescault, Social Media in the 2009 Inc. 500: New Tools and New Trends, 2009)
Benefit from Social media
In the first place, what type of company dose use social media? Even though social media is prominent in business nowadays, it is not for all business. For example, if a company in niche market has business with only a few customers, a direct communication or advertising is more efficient and effective rather than using social media. Furthermore, using social media has some risks too, such as illegal act or the abuse of social media by employees. Thus a company has to ensure the environment is managed in accordance with use of social media.
Social media will bring an enormous profit to a company once the right social media is used in the right way and right place. There are four benefits of using social media,
Low cost and higher spread rate of information
Raising brand awareness
Tool for communication with costumers
If a company want to build its own website or email newsletter system, it will cost a lot and it is not affordable for small businesses. On the other hand, by using Facebook, a company can have its own page for free and broadcast information to everyone regardless of age or country at anytime. In the case of web page or email newsletter, a consumer has to know the brand first and visit website or subscribe email,
Why use social media: We need to use social media in businesses today because almost everyone is constantly connected through some sort of social media. Using social media is one of the fastest ways to reach new and current consumers of any place of business. When using social media you can upload pictures, videos, and unlimited access to updates and other possibilities for advertising.
This source shows how the Social Media scene has grown radically and is right now woven significantly in our social society. The development and advancement of Social Media has likely affected your business or industry too. The author worked in the Internet Marketing and Search Engine Optimization (SEO) industry for more than 10 years and the significance of an emphasis on Social Media has been in a quick rise for as far back as quite a long
Social media is different from more traditional marketing tactics as it offers a free platform that is easily accessible to anyone with internet access. This allows for the increase communication for organizations to foster brand awareness and often, and
The use of social media has a very wide variety of advantages and disadvantages for companies. In essence it’s an extremely cheap way to reach consumers, and help them develop a brand perception. Companies can use it to hit a wide audience, and show them about a new product, or deal going on. They can also use social media to develop conversations with their consumers. This can positively shape thoughts and ideas about the brand. Also companies can use analytic services figure out the demographics of who is interested in their
There are many ways you can use social media in a business setting. You can use it to advertise your products and to promote your business on social networks such as Facebook, Twitter and other media sites that are popular with the public. You can use it to interact one on one with your customers if they have any questions or want to know if you have a certain item. But as a business on social media you have to make sure you are going to be ready to respond to your customers wishes and needs. There is a lot of other competitor out there on the social media
Social media can bring up many impact for the user. There are positive impact and negative impact or the advantages and disadvantages of social media. And now social media becames a necessity for people to have it.
In the past few years, social media has become a powerful influence as a new marketing tool. It is still relatively new, but it continues to be a part of marketing strategy for various industries. According to the article "Integrating Social Media into the Workplace: A Study of Shifting Technology Use Repertoires." By Walden, Justin, this study demonstrates that social media is used routinely, employees are distracted from tasks and threatens of personal privacy. The learning curve is still pretty high for most companies. Knowledge by professionals is through trial and error as social media marketing evolves more over time. There are many challenges businesses are faced with everyday plus managing the use of social media. It can be overwhelming and frustrating for companies understand this confusing network of navigating social media in the workplace.
Even though the original intention and many conservative business people still see social media as only intended for connecting friends, it has grown to be an important tool in management of both business and customer information as well as a marketing tool. As a result, social media has been one of the best business innovations in transforming the way business is transacted. Regardless of the conservative lot mentioned above, majority of business leaders have taken up social media as a tool in management of employees, marketing and communication.
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
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.
In modern days people and organizations rely so much on the internet as the main source of information. Every business organizations must, therefore, evolve and develop a platform where people can access information about them. Social media as a tool for doing business as Wang (2013) continues to grow and in recent years it has seen an increase in usage as compared to mainstream media as a source of information and communication channels by customers. It offers a great platform which organization can use to create awareness and advertisements. Use of social media in any business entity has many advantages but Odden (2012) also observed that it also require commitment, strategy, and defined systems. Social media allow entities to increase brand recognition campaigns, improve brand loyalty and create more opportunities to reach covert customer (Saravanakumar and SuganthaLakshmi 2012). It is achieved through accessing many peoples and by having high conversation rate with potential and existing customers.
In this Research paper I am going to discuss about the Impact of social media on organizations and business. In this paper I am going to start from the initial stage of the organizations technologies and how they are promoting their technologies and products using the different kind of forms. And how the organizations and the business are going to interact with the customers easily through the social media and also the there are negative shades along with the positive shades on the organizations. While many organizations think that they are much influenced by the impact of social media on them, as the recent studies and statics proved that. Examples of the different organizations and business which are got effected by social media are discussed in this paper. The ethical issues related to social media on organizations and business are also discussed in this paper. And the different effects and the positiveness of the social media also discussed. And the conclusion for overall impact of social media on the organizations and business are well discussed.
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.
Businesses use platforms such as Twitter, Instagram, and Facebook as a modern tool to share information with their customers. Facebook offers the option for businesses to create a fan page for their company or product. Twitter allows the use of 140-character posts that users can follow, tweet, or retweet. Blogs are less commonly used, but allow businesses to write in journal type format. YouTube offers a video-library to its users with millions of viewers around the world. There are many other types of social media but most of them follow similar general communication capabilities. Utilizing these
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.