How Does Social Media Influence Companies - Research Paper Example
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The emergence and ascendancy of social media have been awe-inspiring. Social media has become a very powerful communication tool and has revolutionized the way in which people interact and connect with each other. The use of social media is not restricted to individuals alone. Companies have recognized the importance of this media and have jumped onto the bandwagon. It is hard to find a company competing in the present day cut-throat environment and not deploying social media in its communication strategy. Social media is currently being used by companies to advertise their products, communicate internally, engage customers, listen to them and capitalize by generating a positive word-of-mouth. The advertisement spends on social media are expected to continue their northward trend. Globally, companies are expected to spend $23.6 billion on social media advertising this year. By 2017, this expenditure is expected to soar to $35.98 billion. Estimates also reveal that by 2017, advertisement on social media will represent 16 percent of the total advertisement expenditure incurred by companies on different types of digital media (Cohen, 2015). The data clearly establishes that social media has attracted a considerable amount of advertisement expenditure which was earlier incurred by companies on traditional media like television, print, and radio. While there are various social networking sites, Facebook has emerged as the biggest beneficiary when it comes to advertising on social media.
The number of internet users and the projected increase of the online community have necessitated companies to harness the power of social media. This paper analyzes the different ways in which social media influence companies…
According to the report increasingly firms are devising new methods to attract and retain customers over a long period of time, such as innovative sales techniques, increase in sales and reducing the service costs. Social media promotes the free exchange of information among people. A number of the social media technologies are still in the nascent stage of development.
The research study concluded that social media marketing is highly important for the organizations. Almost every other organization is integrating social media marketing with the Integrated Marketing Communication (IMC) strategies. Different organizations have been able to reap several advantages and benefits on the basis of well thought and well formulated social media marketing strategies.
websites that aren't knowingly hosting pirated content”.1 This opposition has caused vast protests last January 18, 2012 from more than 7,000 websites that involved the giant names of Google, Mozilla and Reddit. 2 The social media sites were bombarded with what the public has to say about the SOPA.
In a business, the fundamental aim of marketing is to realize increased sales geared towards the profitability. It is a fact that one of the core objectives of a business is profit maximization, and businesses have various marketing strategies to realize this important objective.
These social sites have facilitated creation and exchange of ideas in a fast rate as compared to the traditional media. The internet has grown at a vast rate into a vast net of services that not only entertains, but also serves as a requisite work aid. Initially, email was the useful internet service for the people.
The broadcast television industry will be a major beneficiary of digital media in the next five years, especially with the convergence revolution. Convergence is a trend via which various aspects of telecommunication, broadcasting, and computing are brought together into one digital bit-stream (Hutchins, 2012). Television revenues are bound to increase significantly, especially as most sport-oriented TV stations have their own integrated TV-mobile-computer system.
The availability of the internet and other forms of media today has given infinite opportunities to the marketers in getting across their messages. Use of the media in consumer marketing involves various techniques that create an argument or an image that favors that particular product.
These are geared towards driving their competitive advantage, simplifying venue operations, and realizing new opportunities for growth (Aris, 2009). Digital media in the sports and entertainment industry has enabled greater growth and innovation.
a tools include social media sites such as Facebook, Twitter and LinkedIn, blogs, content sharing sites such as YouTube and Vevo and specialized online communities. The traditional media, for example the print media, did not feature the aforementioned characteristics as most of
This article has poured much light on effects of media on the society and the type of information that is always conveyed to be either fair or unfair. The paper proceeds to find out whether the work of mass media crosses the line between reporting the news and creating the
4 pages (1000 words)Research Paper
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