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

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The Power of Social Media and its Impact on the Current Business Environment The number of internet users has increased over the last decade due to the development of new technologies, internet availability and improved connectivity. Various online communications platforms have been invented and are widely used for both personal and business purposes world wide and social networking is the latest communication platform helping people connect to each other across different places. Its introduction has changed the way groups of people are connecting and communicating in business via online communities and professional networks. In business, many multi-national companies are currently moving beyond traditional media channels and using…show more content…
Due to the fact that these two social networking services possess millions of people's profiles, demographics and personal interests, thousands of multinational companies have turned their focus on new social media strategy to reach their target online. The term 'social media’ has become the most recent area focused on by marketers, advertisers and public relations professionals in various business sectors and many experts have studied and tried to understand the benefits and functions of the term social media. According to Turner (2011), the Chief Content Officer of the 60 Second marketer reported that social media is about creating and having conversations among networks in online forums, blogs, and social networking sites. The key fundamental function is to use them as a medium for contacting, sharing and promoting data and contents. But when it comes to business, the main objective of operating social media is far beyond that. In business, social media is currently claimed to be the best tool in helping a company gain larger numbers of their target consumers just by providing a digital experience related to their products and services. Social media is also playing an important role in driving consumers brand engagement. According to Schmitt (2009), studied about digital brand experience and the result indicated that consumers who have a chance to engage with a brand in social networking sites can evolve from passive
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