Impact Of Social Media On Business Essay - 2383 Words

ABSTRACT: As the advancement of technology expands, companies and business are gravitating more toward implicating the use of social media. The use of social media can be extremely beneficial to consumers and the business its self. Some of these benefits are the expansion of a business consumers, easier ways for employers to scout out potential employees. Social media also widens the sales market and improves customer satisfaction. Technology will continue to progress and so will the realms of social media. This study will answer the following questions: 1. How companies are using social media to market their brands, products, and promotions? 2. How this form of marketing or advertising is different from other forms? 3. Is the incorporation of social media effective and beneficial to a business? 4. How social media and business intelligence works together? 5. Can social media help a business determine its target market? Keywords: Social Media, Marketing, Effectiveness, Business Intelligence, Target Market INTRODUCTION As the field of science and technology continues to progress, businesses are forced to change the way they once operated. Technology is shaping the world. Individuals are constantly on the internet now with the convenience of mobile devices preferably smartphones. According to a study by the Pew Research Center in 2015, â€Å"92% of teens report going online daily — including 24% who say they go online ‘almost constantly’.† Studies also show thatShow MoreRelatedImpact Of Social Media On Business Essay1288 Words   |  6 Pagesin the direction of social media. Now, more than ever, consumers are wary of businesses and advertisements. As a result, the trust falls to a third party – a brand or person who is not affiliated with the company receiving the promotion. What does that mean for your business? Businesses are encouraged to become their consumers’ friends, chatting about a product or something related, in a manner that is non-threatening, a nd even enjoyable. The most effective way for a business, no matter the sizeRead MoreSocial Media And Its Impact On Business1641 Words   |  7 Pagesof and use social media they only think of it from a personal view. However, more and more companies have discovered that this electronic network can be used for business purposes as well. Social media can provide a platform for companies to share knowledge and opinions, and announce information to their audience of followers. It can also generate valuable data about how a company’s customers think, shop, vote, and spend their leisure time. Many companies have incorporated social media in their businessRead MoreThe Impact Of Social Media On Business Essay1644 Words   |  7 PagesThe relentless emergence of the diverse Social Media platforms has been impacting the way people and businesses interact and communicate with each other. The purpose of the paper is to highlight the dynamics by which businesses and particularly Busine ss to Business (B2B) companies attract customers and promote their products and services to them using social media. With an increasing competitiveness in various fields and the innovative ways marketers use to bring new prospects, some businesses haveRead MoreImpact Of Social Media On Business2529 Words   |  11 Pagesknown as social media. Social media supports interpersonal communication and collaboration through the use of internet-based platforms. Facebook, LinkedIn, Twitter, and Instagram are some of the well-known sites that are used by hundreds of millions of people. Although only 18 percent of managers believe that social media is important for their business today, more than 63 percent assert that they will be important for business within three years (Kiron et al. 2012). The economic impact of social mediaRead MoreSocial Media Impact on Business10631 Words   |  43 PagesContents: 1. Introduction 2 2. Social Media and Business 2 3. Types of Social Media and Their Importance for Companies 4 4. Social Media Functionality Blocks and Their Implications for Companies 7 5. Social Media and Information Half-life and Depth 10 6. LinkedIn Poll 12 7. Recruitment and Search for Talent 13 8. Advertising and Brands Enhancement 17 9. Customer Profiling and Customer Service and Realtionship Management 21 10. The Future of Social Media 25 11. Conslusion 28 12. References 29 1Read MoreImpact Of Social Media On Business1820 Words   |  8 PagesImpact of Social Media on Business: Effects of Social Networking Sites on Organisational / Academic Performance of London College of Business Management and Information Technology (LCBMIT) Index 1. Introduction 2. Background 3. Research Objectives and Methodology 4. Conclusion 5. References 6. Appendix A Introduction: The present study investigates the effect of use of Social Networking sites on organisational performance of LCBMIT. Blogs, tweets, moodle, and discussion boards, facebook updatesRead MoreSocial Media Impact on Business10637 Words   |  43 PagesContents: 1. Introduction 2 2. Social Media and Business 2 3. Types of Social Media and Their Importance for Companies 4 4. Social Media Functionality Blocks and Their Implications for Companies 7 5. Social Media and Information Half-life and Depth 10 6. LinkedIn Poll 12 7. Recruitment and Search for Talent 13 8. Advertising and Brands Enhancement 17 9. Customer Profiling and Customer Service and Realtionship Management 21 10. The Future of Social Media 25 11. Conslusion 28 12. ReferencesRead MoreThe Impact Of Social Media On Business1720 Words   |  7 Pageswith the creation and evolution of social media. Social media websites such as Facebook and Twitter allow for a greater interaction between businesses and their customers. There are many different ways that businesses use social media today to promote their brand. For example, some companies offer special promotions for their social media fans. The number one focus when using social media is communication between current and potential consumers and the business itself. This may be in the form ofRead MoreThe Impact Of Social Media On Business933 Words   |  4 PagesLast year, Sterling argued that there are 25 million active business Pages on Facebook. After the world has entered the Internet age, the internet is not only means large information, but also means communication. The social media is one of the communication tools. Recently, people discovered the increasing number of people using soci al media. Tesikerdekis and Zeadally (2014) states that people find the number of humans that use social media have a 64% growth since 2005; for example, People who useRead MoreImpact Of Social Media On Business Essay1461 Words   |  6 Pageshandbags, cosmetics, haute couture and perfumery among others. A lot of luxury shoppers are currently using the social media to discover new brands while recommending to their friends. It is, therefore, crucial to understanding the needs of the audience and what drives them as they use social media platforms. Social media analytics is a valuable tool in understanding the trends of social media and what a company can do to weigh its audience (Anstead and O#39;Loughlin, 2015, p. 204). The objective