...Executive Summary Social media, online social networking service, has been existed for a long time. In that time, people use social media as an effective way to expand our social circle. People who use these sites form a social network, which provides a very strong and powerful way to connect, share interests, and keep in touch with others across the miles. However, as “the valuation of Facebook raised in a significant way, settling at figures in excess of $80 billion just after the company’s developer conference in September, 2011” (O'Dell, 2011). This valuation of the social media is only ranked second to Google’s. Even an obtuse CEO can realize the important impact on the business industry that social media will bring. Such a high valuation is not only because Facebook provides more than 600 million users a platform to communicate with each other, both in their leisure time and at work. Therefore, it is obvious to observe the social media’s economic impact. The economic impacts of the social media are increased work opportunities, decreased business cost, positive push in consumers’ purchasing behavior, increased opportunities for small businesses, and increased employees’ productivity. However, one thing should be noted that there may some different economic impacts in different countries because each country has their own cultures, economies, and business structures. Introduction of Social Media Social media, online social networking service, is among the most popular...
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...About Social Media Social media websites and applications allow users create online communities to share content, such as videos, personal messages, pictures, ideas and other information about themselves. Most forms of social media accept individual users as well as organizations, such as businesses and nonprofit groups. A business's social media profile may include links to its website, contact information and pictures of products or services the business offers. Marketing Businesses are constantly finding new ways to implement their marketing strategies through social media. Prior to the development of social media platforms, businesses relied on fliers sent through the mail, television commercials and word of mouth. While these marketing tactics are still useful, businesses can now use social media to instantly inform consumers about sales, the arrival of new products and exclusive promotions. Consumers can connect with their favorite retailers online to stay informed about new developments. Communication Social media also affects the way many retail businesses communicate with their customers. Instead of calling the store, writing a letter or sending an email, many customers prefer to communicate with a business using its social media profile. Customers may send private messages to the business, or they may post information publicly. Customers use social media to provide both positive and negative feedback about products or customer service. If a customer posts this information...
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...Power of Social Media in Business Makeba A. Smith Rasmussen College Author Note This research is being submitted on December 02, 2012, for Pamela Wren’s B371/GEB3110 Section 05 Research and Report Writing course. Power of Social Media in Business The topic I chose to conduct my research paper on is the impact or the power social media has on business. The reason I selected this topic is because social media has become very popular among people today. In addition, many businesses have incorporated the use of social media sites to publicize, communicate, advertise, and promote their companies. The use of social media in businesses have been met with many opposing forces, but the purpose of my paper will be to focus on all the positive impacts social media has in the business world. Should the power of social media in business be considered to have negative impact on companies? This is an important question to me because I use social media sites all the time. In my opinion the use of social media does not impact businesses negatively and as a result I intend on presenting a paper that will bring a positive light to those that oppose social media being used in business. In order to present my reasoning I will have to conduct research to obtain background information on businesses and the impact social media has on their productivity. I may also have to present information regarding the ways that businesses use social media to promote their companies. During the course...
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...Research Report Impact of Social Media on the Workplace By Abdul Asif 300817244 Rajdeep Kaur 300816572 Divyeshkumar Patel 300823773 Surya Chandu Sanaka 300831648 Sai Sravani Velaga 300829096 Submitted to: Prof. Phillip Alalibo GNED 219-071 Winter 2015 1. Introduction of Topic and Clarification of Research Statement “Our research topic is - The Impact of Social Media on the workplace and our research statement states that Social Media have a significant and positive impact on the workplace.” Social media is turning into an inevitable part of our society. It serves as medium to globally link people together, regardless of their physical location. Generally, people are using social media for various reasons, such as to share information, to get in touch with their loved ones, and to look for business colleagues...
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...SOCIAL MEDIA MARKETING Bizuayehu D. Weretaw Submitted to: Professor Yohannes Abate, PhD. Contemporary Business (BUS508) Strayer University, Takoma Park Campus November, 2013 Introduction In these days of technology, our daily activities and social interactions are becoming dependent on social media. This is not limited to people who are living in most advanced countries but in less technologically advanced countries as well. This, in other word, indicates that social media has become a global phenomena. Published and unpublished sources show that over a billion of people around the globe visit social media at some time regardless of the amount and nature of use. Understanding the ever growing number of subscribers, software programmers are developing various social media platforms considering the cultural and linguistic background of the user society. The most popular social media sites, as most of witness or could guess, are the Facebook and Twitter but the Chinese Qzone, the Orkut of the Brazilian (which is owned by Google), Friendster of the Malaysian and other less popular social media platforms are already in the market being visited by their respective users. Some of these social media take in the form of social networks, some others take in the form of internet forums, social blogs, pictures and videos, etc. For individual user, social media may be entertaining or the user have fun simply by interacting with his friends or groupies or listen to a...
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...Abstract Social media marketing refers to the process of gaining website traffic or attention through social media sites. Social media marketing programs usually center on efforts to create content that attracts attention and encourages readers to share it with their social networks. A corporate message spreads from user to user and presumably resonates because it appears to come from a trusted, third-party source, as opposed to the brand or company itself. Hence, this form of marketing is driven by word-of-mouth, meaning it results in earned media rather than paid media. This paper contents five items: 1. Evaluate the reasons Social Media Marketing has become exceedingly popular among businesses of all sizes. 2. Analyze the advantages and disadvantages of Social Media Marketing for business entrepreneurs. 3. Assess how Social Media Marketing is helping Pepsi gain more customer insight than it would have otherwise. 4. Discuss two other businesses that have used Social Media Marketing to their advantage. 5. Speculate what impact Social Media will have business over the next decade and identify what skills you need to improve to take advantage of the changes. (Nix, Gary Jul 18, 2012) Pepsi Refresh Project Online and interactive media have already changed the nature of advertising. Starting with simple banner ads, Internet advertising has become much more complex and sophisticated. Miniature television screen images, called widgets or gadgets, can carry marketing messages only...
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...history of social networking 2 THE IMPACT OF SOCIAL NETWORKING ON BUSINESSES 2 THE FORMS OF BUSINESSES WHICH DEPLOY SOCIAL NETORKING SITES TO ACHIEVE COMPETITIVE ADVANTAGE 4 THE EXTENSIONS CAN BE BOLT ON TO MAKE SOCIAL NETWORKING SITES MORE ATRACTIVE 6 CONCLUSION 8 REFERENCE 9 INTRODUCTION The history of social networking Over the last few years, the Internet has extended with dominant applications such as video, online maps, multiplayer gaming, online news, blogs, instant messaging, e-commerce, VoIP (which includes peer to peer voice communication), podcasting, photo sharing, GPS services and a lot of other conditions have entered into the vocabulary as these services became accepted with people who use them. As the Internet came out with more and more complicated services, encouraged entrepreneurs brought many of these services together into sites that intended to join people. With such widespread use, it was only natural then that people began using the Internet as more than just a means of seeking information. People found that the Internet could be used to connect with other people, whether for business or commercial purpose, and also to make new friends and to renew old friends and long lost connections. The social networking revolution was born. Today, social networking sites form the mass of most lists of highly valued Internet companies. This is because just about everyone who uses the Internet is a member of at least one and often many online social networks...
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...Social Media Marketing: Getting the Point Across Walter Williams Strayer University Introduction In an age where technology is everything social media marketing has become a major instrument in organizations’ advertising strategies. With the development of several social networks such as Facebook, Twitter, and Instagram there are so many avenues available for companies to advertise their products and services. In this paper I will be discussing why the use of social media marketing has increased dramatically for businesses, the advantages and disadvantages of social media marketing for entrepreneurs, how Pepsi has gain an edge with customer insight with the use of social media marketing, the impact that social media marketing will have over the next decade, and the skills need to take advantages of social media marketing. I will also provide two businesses that use social media marketing and how their use allows them to gain an edge on competition. Social Media Marketing Today Social media marketing has experienced a large increase over the last couple years. An overwhelming 94 percent of marketers, when surveyed, stated they employ social media marketing in their advertising (Stelzner, p. 10). Although, according to Stelzner, this number dropped 7% from the previous year, social media marketing is still highly beneficial to a vast majority of businesses. Influencing the power of content and social media marketing can help increase customer fan base and audience...
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...e-Learning, Vol. 4, No. 3, June 2014 Legal Risks in Social Media Marketing Jawahitha Sarabdeen Abstract Social media is an important communication channel for marketers. The research conducted earlier shows that more than 81% of the businesses are using social media or planning to use social media for marketing purposes. The social media is used for engagement marketing, buzz marketing, building customer relationships and to revitalise brand image. As social media marketing facilitates two way communications between the marketers and the users, the content generated in social media is considered trustworthy and reliable by the customers. The marketers while using the social media should be aware of the legal risks involved in social media marketing. This research paper by using content analysis looks at social media marketing and legal risks involved in social media marketing. Index Terms—Social media, marketing, legal risks, regulations. I. INTRODUCTION Social media marketing is a phenomenon where businesses are seeking new ways to create value. The introduction of social media considerably changes the marketing activities and consumers‘ behaviours. With the introduction of various technologies associated with social media the businesses and consumers participate in marketing activities easily without cost. Though social media is relatively a new media, its popularity is increasing rapidly across the world. Social media is used to engage with consumers, promote the business...
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...Security December 1, 2013 Internet Technology, Marketing, and Security Introduction Social media is a good way for a business to market their products to current customers and also to gain the business of new customers. More and more consumers are using the internet and social media websites to make purchases. Some businesses don’t even advertise in the newspaper anymore or use circulars. It is cheaper for them to go to the internet and use social media websites and they also reach more people. This is definitely the future for businesses. With the success that Pepsi had, I can see more and more businesses doing this in the near future. Reasons social media marketing has become exceedingly popular among businesses More than 66% of small businesses plan to invest as much or more in digital marketing, such as websites, social media and online advertisements, as they did last year. These results were from the 2013 AT&T Small Business Technology Poll, with 1,000 businesses replying to this poll (Eddy, 2013). As we can see from this poll, there is definitely a strong interest from businesses in using this type of avenue for advertisement purposes. I think businesses see that through these social media websites, they can be successful. When you go to the Facebook website, you see advertisements for different businesses. There is also LinkedIn. They are a social media network that caters to people in professional occupations. What a great network to use for...
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...Assignment 1: Social Media La-Nika Romain Gayles Professor Scott Levassuer Business Law I August 10, 2014 Assignment 1: Social Media In this paper, I will explain how Facebook utilizes the four components of legal astute social media marketing manager who utilizes social media outlets for consumer transactions and how each component can mitigate the risk involved in doing business in cyberspace. I will also list and analyze methods of alternative dispute resolutions and determine which would be most effective in resolving genuine disputes that may arise with consumers who may make purchases from links affiliated with social media. In addition I will examine how the federal government make control these transactions, since these transactions can occur across state lines. I will also examine the (3) branches of government and discuss which can make the most significant impact on regulating consumer transactions via social media. Lastly I will explain the agency relationship that exists on social media provider, and business that utilizes sites for advertisement. Social Media Facebook is a very popular social media site where users can express the way the feel freely without being judge. On this specific site they user can post pictures, videos and very amusing status. This site is also a way a person can keep in touch with family and friends from near and far. I can additionally say that I am also a member of the Facebook trend that has caught on and I have been...
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...Social media sites are among the most popular sites on the Internet, people invest hours everyday online posting, texting and searching photos. These sites have totally changed the way people interact, in our society and not all these changes are positive. Sites like Twitter, Facebook and Instagram offer both a positive and negative impact on business, politics and social interactions. Businesses have started using social media to build customer loyalty, advertising their products and many other functions, which are some of the positive impacts that social media has on businesses. In doing this businesses are able to fine-tune their products and enhance their strategies for better customer service. Politicians have also discovered the benefits of social media. These sites help to rally people for a cause and help politicians get their message out to the masses. Social media has made it possible for politicians to connect with their supporters and find out what they want. Socially, social media had completely changed the way people communicate. Gone are the days when you have to go to a bar or a club to meet someone new. These sites make it possible for you to interact with not only people from your area, but also people all over the world. Regardless of all the positives, unfortunately, there are a few downsides to social networking. Companies utilize the many benefits that social media has to offer, but any companies block the use of social networks on their...
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...and Bing, to allow consumers to the seemingly best result (“What is SEO/Search Engine Optimization?”). Social media has become a huge part of society in recent years, even though one of the first social media sites was created in 1997, called Six Degrees (“The History of Social Media”). Since then, it has evolved, but it still remains as a way for users to share, view, and connect via online. Top social media sites at the moment include Facebook, Twitter, Instagram, and YouTube. All are similar platforms, allowing users to create content, whether that be a picture, video, their thoughts or opinions, or simply a response to someone else’s content. Facebook is status (post about thoughts), picture, and message based, Twitter is status based with a lot of sharing of ideas, Instagram is photo based, and YouTube is video based (“The History of Social Media). Today, the presence on social media and the SEO reflects on a business in a huge way. Social media users can and do post their opinions and responses to various businesses they frequent, products they have used, and even products or businesses they have not been pleased with. Additionally, social media presence greatly affects a business because people who can’t find a business Facebook page, which often include addresses and hours of operation, might not choose to visit the business. The more involvement businesses have on...
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...Social media marketing refers to the process of gaining website traffic or attention through social media sites. Social media is a platform that is easily accessible to anyone with internet access. Increased communication for organizations fosters brand awareness and often, improved customer service. Additionally, social media serves as a relatively inexpensive platform for organizations to implement marketing campaigns. Social media marketing (SMM) is a form of Internet marketing that utilizes social networking websites as a marketing tool. The goal of SMM is to produce content that users will share with their social network to help a company increase brand exposure and broaden customer reach. Is social media marketing right for your business? * This is the question few companies ask themselves before launching into social media marketing. And, as a result, their forays into social media marketing often result in frustration and, sometimes, failure. Not because social media marketing doesn’t work – just because they didn’t do it correctly. Social media marketing is like any other campaign, it must have an objective and a strategy to achieve desired results. * There are many companies that think it's the quick fix to a struggling business or that it will generate revenue that will help them in a difficult economic time. Truth is that social media can, in fact, affect your bottom line – but, it takes time. * Social media has a sequence of events that transpire...
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...The impact of technology and online communities The importance of social media in today’s generation is really significant, and because of its influence, it is recognized as an excellent marketing tool and could help businesses in building an online presence. Social media paved the way for the evolution of social relations and of people’s interaction. Nowadays, people seem to do everything online: making friends, watch movies, and even transact businesses (admin, 2011). As part of your social media branding, the importance of social media in today’s society is nothing to be overlooked at and it should never be, it was not existed a short few years ago but yet we could not see ourselves without it. Today’s social media is much more than just a website that young teenagers and our children use to talk to their friends. Everybody from big business to independent business owners is using some form of social media marketing plan in their day to day lives. Social media is being used all over the world by many people, different age range but mostly by teenagers and young adults. Social media is being used mostly for businesses, social networking, researching, entertainment and news. The importance of social media has really made the world a smaller place; we can now do business with people from all over the world so much easier and quicker than before (Lodge, 2012). If social media was to be removed, the effects on society would obviously be negative but in a way somewhat positive...
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