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Social Media Impact on Businesses

In: Business and Management

Submitted By tropang7
Words 1009
Pages 5
QUESTION:
Does the availability and use of social media on the Internet really provide businesses with new and different useful information? If so, how? If not, why not?
MY POSITION: The availability of social media can and will provide business with new and different useful information.
DISCUSSION:
Social media is now widely used throughout the world. Below are some statistics in the social network use in the United States. * 38,000,000 people in the US age 13 – 80 said their purchasing decisions are influenced by social media, a 14% increase in the past six months (Graham, P., 2011) * 1,000,000 people view customer service related tweets every week, with 80% of them being critical or negative in nature (Dugan, L., 2011) * 132.5 million people in the US will use Facebook this year; by 2013 the number will increase to 152.1 million (Reese, S., 2011)
These numbers are still expected to grow in the next couple of years. With the popularity of social media a lot of different use has emerged in the past years. Advertising organizations are now well engage in the social network trends. Advertising through social media can reach not only national customers but global customers. Feedbacks from a consumer using a product can be posted and seen by hundreds if not thousands in a matter of seconds. These feedbacks are very useful quality improvement of a product. This information is essential when competing with hundreds of different organization in the same “playing field”. Gathering customer feedback for a product used to be a slow and long drawn process. Utilizing feedback forms and tallying and reading each feedback once the customer sends it back to the company. In today’s technological advances these information are now widely available in the world of social networks and forums. People are posting their reviews and experiences on the product

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