Impacts of Social Media on Business.
Thesis Statement
Social media has unavoidably become a crucial part of people’s daily lives across the globe. In today’s modern world social media has become an integral part of business operations in order to effectively reach consumers, launch new products and generate large customer bases. Though its merits social media has brought both positive and negative impacts to our society.
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Social media has broadened the channels that the business can have to promote their products and services. Businesses no longer need to rely on print and broadcast media, which can be expensive in terms of paying for advertising space and airtime. Through social media, businesses have an inexpensive and fast way of making their products and services known to their target markets. For instance, companies can make the use of Facebook by designing a page where they can advertise their products and services, offer deals, and develop their brand. With Twitter, businesses can use “tweets” to tell current and potential customers about their products and services, release news, and direct buyers’ attention to attractive offers.
Social media allows businesses to enhance their corporate reputation by engaging with individual customers, companies, as well as, other stakeholders, such as the community, media, and government. Social media thrives on the fact that people enjoy conversing with one another. Thus, through tweets, blogs, online chats, and email, businesses can promote the transparency of their operations to stakeholders. They can respond to market needs and queries while correcting any misperceptions that they have about the business. Consequently, businesses can build stakeholder trust and loyalty, leading to a positive corporate image.
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Following customers up through social media channels can influence customer satisfaction...