Effects Social Media Has on Business - 3238 Words

The Effects Social Media Has On Business Communicating in the 21st Century July 30, 2011 A lot of research has been done over the last few years to prophesize social media as a new form of customer-centric relationship building. Building a network or using social media to deepen customer intimacy has become the norm of today. However, what is often overlooked is the impact of social media to change behaviors, and the potential to use social media to impact a professional’s decision-making processes. This article discusses the effects social media has on business, its advantages and disadvantages. Social media can affect business’s marketing, communications, reviews, transactions, day to day operations, and other business†¦show more content†¦As well as word of- mouth promotion and past experiences are the largest contributors to consumer choices in regards to consumer purchases. The Internet, with the help of instant messaging and social networking sites, has hyper-accelerated the rate at which people talk to each other and has greatly expanded the range of topics they discuss and how they discuss them. This has led marketers and small business owners to turn to the Internet as an avenue for cost-effective marketing, employing email campaigns, website advertisements and viral marketing (Daniasa, Tomita, Stuparu, Stanciu, 2010). Viral marketing capitalizes on the nature of word-of-mouth promotion in order to convey a message through a potentially self-replicated, growing campaign where, ideally, one person tells two people who tell two more people each (Phillips, McFadden, Sullins, 2010). The nature of social networking sites such as Facebook, Twitter, MySpace, and YouTube are perfect for marketing strategies. Facebook is the most popular social media outlet at 77 per cent, followed by YouTube at 65 per cent and MySpace at 20 per cent among internet users (Wolchak, 2009, p. 6). The Web is rapidly becoming the most important marketing medium. Marketing has to wrap around the social web. Marketing is being reborn as a consumer-centered craft. The core of viral marketing isShow MoreRelatedSocial Media and Business Expansion1181 Words   |  5 PagesSocial media has without a doubt, reinvented the way business is done. Facebook, Twitter, and even Pinterest present an opportunity to capture the attention of po tential customers while constructing a brand image. By creating a Facebook fan page, a company can update followers of the page with updates and information quickly and conveniently. Some companies go as far as to create applications for smart phone users as a way of reaching their audience. 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