Social commerce refers to online sales together with social media website’s like Facebook, applications like Twitter, and blogging programs like Tumblr and Posterious. Further, it is an element of electronic commerce. They gain advertising revenue via businesses and corporations buying ad space. Little things you can do on these social media giants such as “liking” a product or company on Facebook, or retweeting on Twitter bring great value to the company. Research shows that people are more likely to trust or follow their friend’s recommendation than a business in an advertisement. (1) The emerging role of technologies like Twitter and Facebook provide examples of socially enabled strategies and technologies used in business contexts. Businesses are finding new ways of increasing profits by advertising on these sorts of socially enabled strategies and technologies. It is monumental how valuable what the social media websites and Twitter provide with so much endorsement or negative comments of goods and services in the States and around the world. The fact that word of mouth is trusted more than a typical advertisement, technologies like Facebook and Twitter are providing a new platform for advertising and finding ways to increase the profitability of a company. This could also be bad as when a company is negatively spoken about by celebrities.
You can reach the millions of users on Facebook and Twitter through social commerce; which provides several additional features. It broadens your territory for advertisements. Social commerce is relatively inexpensive. High-speed internet access is often included for free in apartments, but is not absurdly high as to ward off customers. The prices of these new technological advances continue to drop significantly relative to their capabilities and recent polls show 91% of Americans use cell phones. Further, the ease of use is decreasing. These technologies are getting much more powerful. Twitter gives people information on location, topic, and keywords, which makes it easy to find people who tweet on subjects that are relevant to the business. Facebook and Twitter can both be used for social commerce; just in different ways. For example, using Facebook, you can create a fan page for one’s business and advertise and promote on it to make even more income or even sell your product directly. On Twitter, you can use it as an advertisement, advertising when you go on the Late Night Show or the night of a concert. Industries know people respond to Twitter as the more Twitter followers you have, the more you get paid for being on a show, especially Late Night because they know it’s free advertising. Some people have millions of followers that read what they say every single day. Blogs allow a lot of information to be posted at once, whereas Twitter limits the number of characters you can Tweet. Blogs can provide extensive information on a project and allow people to communicate with each other regarding products without restriction on how much one can write; at least for most blogs. (1)
Social marketing builds relationships and creates preference for a brand. (5) This is an example of value that social marketing brings to a business. (5)
“Leading businesses today are employing social technologies like collaboration, communication, and content management to social networks – the connected web of people and assets that impact on a given business goal or outcome – amplified by social media from blogs to social networking sites to content communities” (2). Social business can make a business more efficient and effective. A trend we are seeing is an the joining of computing tools such as Yammer, Chatter, or Jive combined with established communication channels such as face to face interactions, e-mail, phone calls, intranets, and even advertising media. (2)
A trend pointed out by Sandy Petland is that the enterprise for social collaboration content and communication...
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