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  • Essay / The Impact of Social Media on Business - 1517

    A Use of Social Media in BusinessThe Harvard Business Review Analytic Services study (2010) showed some interesting facts. The research was implemented by surveying 2,100 companies in 2010. It may be a little old, but its results are completely understandable and authentic. It found that 75% of businesses had no idea where their customers were talking. And about 30% of them simply use social media without measuring its effectiveness. It might seem like businesses were struggling to use social media in their businesses at that time. However, around 50% of businesses have already recognized social media as an important part of their marketing strategy. In the survey, it also revealed the use of social media, as well as the types of media used by businesses. Nearly 90% of businesses used social media while Twitter or other blogs were used by about half of businesses. Additionally, the study showed that around 25% of businesses used two to four social media outlets in combination. Overall, the study indicated that social media was not yet being used effectively because some boards still did not see the importance of its use. In the field of marketing, this part focuses more on social media and how companies communicate with their customers. According to Kotler and Keller (2012), social media for businesses involves sharing text, images, and video information between customers and businesses. They say consumer word of mouth about any product or service is very powerful, and businesses today know it's valuable. Furthermore, they mentioned three main social media services that online communities, blogs, and social networks used in business (Kotler and Keller, 2012). F...... middle of paper ......read or apprehension. Either way, that doesn't mean there's a way to avoid using social media. It is obvious that the use of social media in business is no longer a new strategy, but it is becoming obligatory. Social media isn't everything for businesses, but not integrating it into their operations makes them less likely to survive. Therefore, businesses may still be looking for the best way to use social media in their business. However, it could be that businesses are now using social media because their competitors are using it. Under these circumstances, businesses can finally gain a competitive advantage and facilitate their operations when they discover optimal use of social media. Furthermore, technologies don't always wait for people, but they have to catch up. Overall, there is no doubt that social media makes marketing very effective..