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Essay on The Growth of and Transformation of Social Media

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Chapter 2 2.0 Introduction In the past few years, social media has evolved from just being a basic tool for collaborative creation and the sharing of content to becoming an important part of the present media landscape (Evans & Bratton, 2008; Weinberg, 2009). From a business perspective, companies are actively leveraging social media to create brand communities and crowd sourcing models, gain consumer insights, enhance product/brand awareness, improve search engine optimization efforts, reduce customer acquisition and service costs, and optimize overall marketing and communication efforts (Weinberg, 2009). This chapter seeks to review literature that has been propounded by past and present researchers in the field of social media, its use …show more content…

Social media has established itself as a mass phenomenon with a wide demographic distribution: 75 percent of the US internet users use social media (Miller, 2009). Social media marketing Gunelius (2011) defined social media marketing as any form of direct or indirect marketing that is used to build awareness, recognition, recall, and action for a brand, business, product, person, or other entity and is carried out using the tools of the social Web, such as blogging, micro-blogging, social networking, social bookmarking, and content sharing. Kotler et al. (2008) describes social media marketing as “a social and managerial process by which individuals and groups obtain what they need and want through”. Social networking and social media specifically, have been painted as the new marketing landscape for businesses to engage with their communities of customers wherever they congregate (Solis, 2009). The evolution of social networks allows for personalized interactions between advertisers and consumers (Mabry, 2010). Social media uses A study conducted by The SMB Group found that one in five small businesses have no social media strategy. Without strategy or goals, a business is unable to determine whether or not they are gaining anything through their efforts, or simply wasting

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