Social Media in Business

Topics: Marketing, Social media, Social network Pages: 8 (2715 words) Published: July 26, 2014
Running head: Social Media in Business

Social Media in Business

Contemporary Business

June 1, 2013


Social media has become one of the most seemingly necessary interactions that we participate in. It has also changed the way companies of all sizes interact with their customers. While there are certainly major benefits to using social media for business, there may also be some ways that it can be seemingly detrimental to business for some companies. In my research I found that one of the best things about using Social Media for business is that it is free; you can sign up to Facebook, Twitter, LinkedIn, Google+, Pinterest and countless other popular sites at no cost to you. These profile pages will allow a company to build endless lists of followers and post as much or as little information as they like, all for free. Then there’s the added advantage that not everyone uses every site so by using more sites yourself you automatically get more followers and friends, which will ultimately lead to more for your business. It’s very beneficial as long as you do not spread yourself too thin (which brings us back to the new hire to run social networking interactions). Every social media program is different, and not every social media network will suit you. The informal style of Facebook may work for you, but you may struggle to make relationships work on LinkedIn. If you do struggle with an account, it might be better to close it and focus on those that help your business better. Everything you do online needs to be a true reflection of you and your brand, so if something isn’t working then either figure out how to get better results, or try something different. Pinterest is very popular at the moment, but if your company of marketing strategy is not very visual, this is not the network for your company. Not being able to fully function on a particular network could cause your reputation more harm than good. If you are seen to be inactive or inputting low quality content it could turn away clients or lose their attention. Social media is much cheaper than traditional media, enables everyone to publish, share and access information. Looking to the higher investment in industrial types of media, private sector individuals now concentrated towards the social media to publish the information of the companies in a less formal ways that has been traditional in press releases, newsletters, and brochures which can helps the organization to give a human face and voices to the mass public. Social media becomes a very effective ways to build strong networks of individuals and relationship with them. In today’s business environment, social media is becoming more and more popular as marketing tools, where the big corporate as well as small and newly established ones can take advantage of marketing techniques to reach a board market quickly in expensively way. In social media marketing, the business people can use web marketing through social media sites with a purpose of promotion of products and services, sharing of new ideas and concepts, raising visibility of the companies’ information, establishing managing personal relationship, branding and reputation of the specific companies, etc.

Advantages and Disadvantages of Social Media Marketing
Advantages
Taking an advantage of social media marketing, companies or business individuals simply forms an advertisement that reaches out to the wider target audiences in quick, attract more customers and enhance customer retention at convenient and inexpensive method. Using podcasts, blogs, references, online audios and videos, messages boards, posts and comments on social networking sites the specific companies can reach to the mass target audience. Small-medium enterprises can afford to promote their products and services on the internet with less capital investment. Social media marketing plays a role of direct marketing and creates a business too, it allows...

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Edwards, K. (2013). SEC gives companies OK to use social media. Tribune Business News. Journal of Academic and Business Ethics. vol. 7
Honsley, F. (2011). Pepsi 's Hashtag Campaign. Wall Street Journal
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Wells, M. (2010). Strategic Marketing through Social Selling. Wall Street Journal.
Boone, L., Kurtz, D. (2012) WileyPlus Interactive Case Study, The Pepsi Refresh Project: Viral Marketing Contemporary Business 14e
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