The Power of Social Media and Its Impact on the Current Business Environment

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.

One of the key roles of social media from a marketing perspective is the development of a client based platform. It is becoming an increasingly important part of any business’s marketing. Businesses can utilize existing online platforms to build networks of current and potential clients. By being active online allows businesses to connect with their customers in innovative ways to become a trusted source of information and convey the passion they have for their industry.

The usage of social networking sites in today’s society has reached new levels due to the recent advancements in technology that are available to worldwide users. Because of the improvements in technology, it is common for many businesses to make adjustments to its policies and procedures to meet the needs of their customers. This strategic planning allows the companies to reach new audiences, a strategy which further enhances the company’s relationship with its customers.

In addition, with the growing use of social networking sites like that Twitter or LinkedIn, corporations are now searching for useful methods for conveying their messages inside their particular marketplaces. At the present, a lot of people make use of these platforms for personal communication, interaction with

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

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

Every social network have their own functionality or tools that allows a business to promote its identity and services. We need to understand that the development of the social media was primarily targeted to the casual internet users who are very much inclined in today’s technology and services such as creating information, content and other types of media such as text, photos and videos. As day goes by, developers are very much keen to enhance the experience of the social media, they were able to apply on how can a businesses to take advantage of the tools and functionality of a social media to the potential

Marketing is continuously changing and growing within the business field. Recently, social media is becoming one of the main marketing strategies used by companies, which is known as social media marketing. Twitter, Facebook, Instagram, YouTube, and blogs are some of the platforms used in this area of marketing. These types of social media allow consumers to be updated by following their favorite companies. It is not a surprise companies are starting to regularly use this form of marketing due to the role social media has in today's society. Social media does, however, impact a company in a multitude of ways. There is much debate on whether companies should or should not use social media to market themselves. Even though there are some flaws

The company might decide to use social networking to increase boost customer base, sales and productivity through the creation of a virtual community where all its stakeholders interact easily regardless of the distance between them (Settle-Murphy, 2012). The use of social networking will

Social media is a great asset for businesses to use to help grow the American economy. Everyone's lives run much more effectively and smoothly when the economy is thriving, and the economy can no thrive without businesses booming. A great way for the business word to stay in the up and up is by using the media. Businesses can reach out to there clienttell to advertise a product with these sites (social media in business). Staying in touch with the people is the only way to hear their thoughts and concerns The business can grow when they are able to reach out to either existing clients, or catch the attention of a new base of clientele. With an ever changing economy it is crucial that businesses stay on top of what is trending in the markets.

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.

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.

Today, many businesses are experiencing the effects of social media. Government, businesses, and communities interact through social media and use it to access their investors and potential customers. According to Donovan (2016), “Most types of businesses today make use of different tactics and techniques to make a significant exposure of their website to its target customers.” The goal is to use social media to maximize their potential in order to be one of the strongest participants in the business world.

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.