Social Media in Business: Recent and Future Trends

In: Computers and Technology

Submitted By tmswifty
Words 2603
Pages 11
Social Media in Business:
Recent and Future Trends

Social Media in Business:
Recent and Future Trends
Taylor M. Smith
Eastern New Mexico University

Social Media in Business:
Recent and Future Trends
In today’s world, technology surrounds us. Our society is constantly evolving, and is ruled by technology. One of these technologies is social networking through social media. Social networking is becoming a part of everyday life for many people around the world. Social media sites such as Facebook, Twitter, and Linkdin are completely free and allow users to interact with other people across the globe in a matter of seconds. Although these sites may have been originally intended for personal use, individuals are not the only ones using social media sites to communicate with one another. Business, small and large, are also implementing social networking strategies and professional networking to access more potential customers. Social media allows businesses to reach out to their customers – for free. This interaction with customers via the Internet is known as social customer relationship management. Effective social CRM and social media use can be an indispensible marketing tool to a firm by helping to build customer relationships and loyalty, engage customers in conversations, and offer promos and discounts. These are just a few of the many benefits that social networking has to offer businesses and companies. To understand how social media can be beneficial for a business, one must first understand exactly what social media and social networking are. The Oxford Dictionary defines “social networking” as follows: “a network of social interactions and personal relationships.” The idea of social networking is to share content with other users. This content may include information, advice, friendship, shared interest or membership, and typically some level…...

Similar Documents

Social Media Effects on Business

...Social Media Effects on Business Contemporary Business – Dr. Professor March 10, 2010 Social media is a popularity tool for individuals and business. As an experiment in the infancy of globalization it has outgrown its original hypothesis’. If sites such as Facebook were their own countries, they would be placed in the podium of power internationally. (Divol, R., Edelman, D., & Sarrazin, H. 2012) So, it would be safe to assume that star power is worth its time spent creating. By publishing high quality work and building a massive amount of followers; your audience will share your information with their audience. (Gunelius, Susan. 2013) However, from a marketing stand point business can’t rely on social media alone. “If you spend all your time on the social Web directly promoting your products and services, people will stop listening. You must add value to the conversation. Focus less on conversions and more on creating amazing content and developing relationships with online influencers. In time, those people will become a powerful catalyst for word-of-mouth marketing for your business.” (Gunelius, Susan. 2013) Gaining popularity in the business landscape of the twenty first century is quite different than that of the past century, and adversely more evolved than the nineteenth century. Prior to the industrial revolution consumers learned of new products and services by word of mouth, the occasional publication, and pounding the ground beneath their soles. The...

Words: 2542 - Pages: 11

Social Media and Business

...There has been a recent boom in social networking; this has led to an increase in the amount of social networks available today. Social networking can be described as “the use of Web sites or other online technologies to communicate with people and share information, resources, etc.” (Dictionary.com). This has led to increased efficiency in the exchange of information. I.e. Information is exchanged more rapidly. Organisations are realising the benefits of utilizing social networking. “Social media helps enhance all the basic pillars of good business, such as engaging with the public, converting on-the-fence onlookers into revenue-generating clients, and addressing customer service issues.” (Stewart, 2013). Social Media sites are a great way of exposing your business and products or services and promotions. This is knows as social ‘network advertising’, “a term that is used to describe a form of Online advertising that focuses on social networking sites.” (Social Network Advertising, 2013). Most of the more popular social networking sites are free, so businesses can advertise for little or no cost. Because of the vast amount of people who are active on these social websites the business is able to reach a wide audience and attract new clientele which would lead to sales increases without having to pay for advertisement. I would use social networks to promote products or services being offered at my business and to announce promotions or sales as it allows me to reach a wider...

Words: 570 - Pages: 3

Social Media Past Present and Future

...with the Social Media there was not so much conflicts with people, children as well with the communication. There was not to much violence , children killing each other the social media as well was not so crazy and bad as it is now. Very good Example Face Book back then we didn’t have that or Tweeter , Etc. Nothing back then was so complicated and crazy as it is now. The Social Media at this time Present is at this has affected a lot of people teenagers are now involved in so many things that affect them , in school , emotionally , kids , at home , the media now has become like a addiction specially to the teenagers that are in schools etcs a lot of this has helps people that are mean out there to be able to communicate with children that are under age, perfect example the topic Bully now a days the Social Media people use it to bully other children that for them is the easiest way to either bully, or get children under age involve in things that have nothing to do with there ages. I think that the media should be more careful in regards to tracking little kids that don’t have to be involve when it comes to the face book or tweeter, for me I don’t think that it should exist because due to all this face book some people commit either suicide it has become more close in , and write things that some of there own family will not even find out till it is too late. Specially children that some parents are not involve there are the perfect example when it comes to the media ,......

Words: 533 - Pages: 3

Social Media: a Future Beyond Imagination

...Social Media: A Future Beyond Imagination No small or big business can be wrong having a great presence on social media platforms as they provide the opportunity of reaching millions who are potential users of their products and services. The world continues to embrace social media, and the way that social networks are being used is becoming clearer. Companies are choosing to include social media in their marketing strategy, and the social network variety it offers in reaching the consumer is staggering. Social media is a one-way message; there is no dialogue, no feedback, no interaction, and its future goes beyond the imagination of its users. Google is catching up with Facebook; Google+ is breathing down its neck. As an embedded web asset, it provides data such as demographics, usage and content popularity. Twitter is many different things to many different people, and with its great tool to communicate short and snappy messages, has become a favorite target for social media marketing. LinkedIn is recognized as the most conservative of the social networks, because it is all about business and the network of choice for most professionals. The more social it becomes helps to enhance its user penetration and attractiveness. Pinterest and Tumblr are closing in as the fastest growing social networks on the planet (Bullas N. pg). The visual web is what drives this increase in the growth rate. Tim Mullaney, in his article, Social media is reinventing how business is done,......

Words: 1468 - Pages: 6

The Role of Social Media in Business

...Digital Age The Role of Social Media in Business 07.....................................................................................................................About Wipro Technologies 07.....................................................................................................................About WCIR 07.....................................................................................................................About the Author 06.....................................................................................................................References 05.....................................................................................................................Conclusion Employees and Society 05.....................................................................................................................The Social Business - Connecting with Customers, of Digital Natives 04.....................................................................................................................Redefining the “Social” Life - Changing Norms and Values 04.....................................................................................................................The Internet as a Utility 03.....................................................................................................................Abstract Table of contents 03 norms, and behavior are making paradigm shifts. evolutionary trends both in......

Words: 2067 - Pages: 9

Social Media in Business‐to‐Business Branding

...Haakon André Elveslett Jensen    Social media in   business‐to‐business branding  How B2B companies can thrive in the new era of digital  communication            Master’s thesis  Trondheim, June 2010  Academic supervisor: Arild Aspelund      Norwegian University of Science and Technology  Faculty of Social Sciences and Technology Management  Department of Industrial Economics and Technology Management              Executive summary  The objective of this study is to explore the implications of social media for business‐ to‐business brand management. Thought leaders of social media and branding in the  online environment are currently doing their work out in the field, whilst the  academics are lagging behind. In order to shed some light on issues regarding how  B2B companies should manage opportunities and challenges in the social media  space, this master thesis seeks to address the topic by conducting an exploratory  study on how B2B companies can utilise social media to enhance the brand.  The study is conducted using a qualitative approach. The purpose is to give an aerial  view of how B2B companies should approach social media, what opportunities and  threats exists, and how they should focus their online strategy to enhance the B2B  brand. The theoretical part of this study builds upon business‐to‐business brand  management due to the growth of B2C brands in social media. The empirical data of ......

Words: 40131 - Pages: 161

How Has Social Media Affected Music Business in Recent Times

...How has social media affected the Music Business in recent times? Introduction This report will discuss in relative brief; how social media, has affected music industry and the power of record labels. It will attempt to review the effects that social media has had on the music business; discuss the changing roles of record labels; and the methods in which the industry is trying to adapt in order to reap the highest potential benefit from this modern global digital landscape. Audio Engineers are a group of people in an industry that has been subject to rigorous changes in recent years courtesy of the the digital age, the internet and social media. It is therefore important to understand the effects of social media, the changes in the music industry, and the possible solutions in order to attempt to forecast the future of the industry. Technology since the turn of the millennium has advanced with great strides and in the future will most likely be perceived as the true beginning of the digital age. The digital age has undoubtedly advanced humanity in many aspects, including in music, but is not without its problems. Piracy is a major cause for concern in the music industry caused by a lack of control within the music distribution channels, particularly in the earlier stages of p2p file sharing. This was a time when the industry did not really know how to react to digital music downloads; to embrace or fight it. Regardless of legal issues and lawsuits still......

Words: 3847 - Pages: 16

Social Media and Business Ethics

...Social Media’s Impact on Business Ethics Introduction: The discussion of ethical problems associated with social media in the workplace is a relatively new occurrence. Approximately ten years ago technology entered a new phase evolving from the internet and email to an entirely different era (Ramos-Hernadez, 2007). Suddenly people who normally worked a 9 to 5 shift leaving work to transition into their personal lives. Facebook, Twitter, MySpace, and Flicker to name a few changed all of that (Ramos-Hernadez, 2007). People who ordinarily kept a strict barrier between the two worlds were putting all sorts of their personal information out in the open for all to see. The data for all to see included not only the intended recipients, but their employers or most important perspective employers. Horror stories immediately started to pop up all over the world. People were being fired because their boss saw vacation pictures from Cabo when you had taken time to go see your ailing grandmother. The pictures from your freshman year in college showed up on a friends account and subsequently took you out of the running for your dream job or promotion. The technology literally erased any expectation of keeping your business and personal lives separate if you chose to participate in social media circles. New Employee Categories Recent studies have been led by the Ethics Resource Center (ERC) one of the oldest non-profit organizations in the U.S. that has historically been dedicated...

Words: 1335 - Pages: 6

Social Media and Business

...Social Media and Business Social media has always been a threat to not only security but also reputation of a business. Employees today have access to all kinds of social network sites to include Facebook, Myspace, Twitter, Instagram, online blogs, and many more. These sites are easily accessible to the user from their computer, tablets, and cellphones through various types of applications. Through my research I was able to find a trend in users using these media outputs to accidently leak information unintentionally and even intentionally. I found that any business can be susceptible to having data leaked and reputations tarnished from employees not handling social media correctly. I will cover this area of expertise, technology involved, future trends, security issues, some businesses involved, regulatory issues that arise, what business can do to handle social media, and global implications. When you consider what technology is being used most users will think of physical equipment. While this is the case that is the access medium that is used when thinking of social networking. Social media can be accessed in various ways to include your home computer, office computer if they allow you to view such sites, tablets, and your phone that could not be regulated depending on if it is a company phone. These access mediums must be regulated and users educated on the proper use of these devices. There are different types of online technologies that can be used to access social...

Words: 3437 - Pages: 14

Social Media Business Success

...Social Media Business Success Professor Brown Group Five Table of Contents Introduction……………………………………………………………………..1-3 What is Social Media Marketing………………………………………………..4-5 Social Media Success story……………………………………………………..5-7 Interview………………………………………………………………….……7-10 Social Media Do’s………………………………………………………….….7-10 Social Media Don’ts………………………………………………………….11-12 Why the principles are central to good social media………………………...12-13 Summary……………………………………….………………………………..13 References………………………………………………………………………..14 Social media is a popularity tool for individuals and business. As an experiment in the infancy of globalization it has outgrown its original hypothesis’. If sites such as Facebook were their own countries, they would be placed in the podium of power internationally. (Divol. 2012) So, it would be safe to assume that star power is worth its, time spent creating. By publishing high quality work and building a massive amount of followers; your audience will share your information with their audience. (Gunelius, 2013) However, from a marketing stand point business can’t rely on social media alone. “If you spend all your time on the social Web directly promoting your products and services, people will stop listening. You must add value to the conversation. Focus less on conversions and more on creating......

Words: 3508 - Pages: 15

Social Media Business Proposal

...Social Media Business Proposal MGMT 550: Managerial Communication Bonnie Adams October 18, 2015 Executive Summary Stone Goose Company is a manufacturer of sporting footwear and is searching for new opportunities to reach their target market. Stone Goose’s competitors are major, high-end brands such as Nike, Adidas, Puma, Under Armour, Asics, and Puma. Stone Goose Company is lacking the resources that many of their competitors have, yet they are contenders in the market. Therefore, a new social media policy is needed to better reach their target market and become competitive in the market of sporting footwear. Stone Goose Company currently does not utilize social media for marketing purposes. In order to introduce new merchandise and broaden its marketing reach, newer marketing techniques should be implemented. Looking for newer ways, such as social media, to introduce their products will enable Stone Goose to effectively reach their target market and will also provide immediate access for customers to company representatives. Employees at the Stone Goose Company are also fond of social media platforms, such as YouTube, Instagram, Facebook and Twitter. When managed appropriately, employee’s personal use can enhance their overall job satisfaction and improve their commitments to their jobs. Providing employees access to social media sites, as a representative for the company, is an effective way to......

Words: 1590 - Pages: 7

Social Media at a Small Business

...Title: ‘Final Essay’ Word Count: 2,561 Social media at small businesses Introduction Social media is defined ‘as the way in which people interact to create, share, and exchange information and ideas in virtual communities and networks’ (Katona & Sarvary, 2014). Few of the most common social media platforms are differentiated into social networks (such as Facebook, LinkedIn, Google+, instant messaging), collaboration networks (examples: slideshare, Wikipedia, Prezi, Google docs, Zoho docs, survey monkey), image sharing (Instagram, Flickr, Pinterest and Picasa), blogging (Tumblr, Blogger and Word-press), micro-blogging (Twitter) and video-sharing platform (YouTube, Blip and Vimeo). Apple does not use Facebook or Twitter for social media marketing because it is a multinational corporation, but not every business is as large scale and successful as Apple. Social media now represents a new horizon of marketing opportunities to businesses. Marketing is a practice, which establishes what products or services the customers might be interested in. Social media supports the development of marketing of businesses, to have a different perception about the brand; this allows creative methods to implement basic marketing. Social media marketing provides the tools that the businesses needs to be able to observe discussions through the internet efficiently (Assaad and Gómez, 2011). According to Gamboa and Gonçalves (2014) social media marketing has increased customer......

Words: 3551 - Pages: 15

Social Media on Business

...CHAPTER 1 THE PROBLEM AND ITS BACKGROUND INTRODUCTION The world is undergoing rapid change as well as technology. Before the computers, mobile phones, and tablets were invented, there were typewriters, and books. We even need to go to a library to search something. Now, with just one click or tap, we can now access or learn different things in the internet. One of the leading social networking site is the Facebook. There are 1.59 billion users are active all over the world and still counting. Facebook has affected the social life and activity of people in various ways. Facebook allows people using computers or mobile phones to continuously stay in touch with friends, relatives and other acquaintances wherever they are in the world, as long as there is access to the internet. Before, we can only see advertisement through television, posters, and newspapers, but now that Facebook has launched a new portal for marketers, it is easy for them to promote their products. BACKGROUND OF THE STUDY Facebook is a social networking service launched in February 4, 2004. It was founded by Mark Zuckerberg with his college roommates and fellow Harvard University student Eduardo Saverin. The website’s membership was initially limited by the founders to Harvard students, but was expanded to other colleges in Boston area, the Ivy League, and gradually most universities in Canada and the United States corporations, and by September 2006, to everyone of age 13 and older with a......

Words: 5146 - Pages: 21

Trends on Social Media

...Trend analysis (Technological, markets and societal-cultural trends) One topic that can relate technology, market and social-culture can be social media. Social media has been becoming in one of the best form to create marketing and popularize an idea or project, all the benefits that can be achieve with social media can be adapted and used in the hospitality industry and tourism. The use of social media has been increasing and becoming a powerful tool to do advertisement campaign and reach a great amount of people around the globe, we think that this can be an instrument we can use to become more popular and also take advantage of the trend that’s going on the world on the use of social media. (Pew Research Center, 2014) The graph above shows us how the use of social media has been increasing in a fast way, only in 2012-2013 was a little decrease. This can show us the potential amount of people which an advertisement campaign can reach, and increasing. The Cicero can use this technological tool to increase the number of users and on this way become a more popular website for people traveling around the world. Thecicero.com can make a viral marketing that’s is directly focus on the use of social media as the main channel of transportation of the idea of what thecicero.com is. Another important trend that’s happening right now is that......

Words: 1359 - Pages: 6

Social Media Marketing for Business

...Social Media Marketing for Business What’s the movement in business today? It’s social media of course!  What’s the most underrated trend in business today? It’s social media of course! It’s hot, it’s cool, but it’s also an unknown. When tapped into, Social media becomes a valuable marketing resource for business. It becomes part of doing business. Traditional marketing focused on push advertisements. The “in-your-face” advertising that continually pushed brands in buyers’ faces. Those days are gone now. The rules have changed and marketing is no longer based on one-way interruption.  David Meerman Scott says, “One-way interruption messaging is yesterday’s message (Scott, 2010, p. 7).” It is now collaboration. Social media is where buyers are spending their time one and where savvy businesses are engaging with consumers. Social media is everywhere.  Buyers are talking about brands and products and making buying decisions using social media. Marketing is now collaboration. Before social media we had new media. New media advertising had become widely popular in the past decade. With new media, advertising became targeted and more direct than with traditional advertising.  Some of the methods of delivering new media advertisements include pay per click advertisements such as the advertisements seen on search engines, banner advertisements, and interactive advertisements.  In The New Rules of Marketing and PR, David Meerman Scott writes “Your best......

Words: 1322 - Pages: 6