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Tuesday, 29 January 2013

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SOCIAL MEDIA AND ITS IMPORTANCE TO BUSINESS




SOCIAL MEDIA AND ITS IMPORTANCE TO BUSINESS


Social media refers to the means of interaction among people in which they create share, exchange and comment on contents among themselves in virtual communities and networks.
Social media also is (as defined by Andres Kaplan and Michael Heinlein) a group of internet based applications that is on the ideological and technological foundations of web 2.0, that allow the creation of user-generated content.
Going further Social media employ mobile and web-based technologies to create highly interactive platforms via which individuals and communities share, co-create, discuss, and modify user-generated content. It introduces substantial and pervasive changes to communication between organizations, communities and individuals.


Note the difference between social media and social networking sites

Social networking sites are just part or type of social media as we also have collaborative media such as wikipedia, blogs such as blogger and  wordpress, and content communities like youtube ,virtual worlds like second life.

As of 2012 social media became one of the most powerful news updates platform such as facebook, blogger, twitter, wordpress, linkedin, pinterest, tumblr, myspace and wikia.
 In this article we wont concentrate on the types and uses of social media rather we will consider the importance of this powerful social media platform to our business.—

There has been an increase in social Medias there by creating new opportunities in particular for businesses, which are able to utilize social media for marketing,  
 
                                                                                                                                research, sales promotion, and customer- to – producer relationship development among others.

Social media provides virtually instant access to information throughout the world. There by giving business (both small and large) the ability to share news about their products and services with people that were once out of reach. Not long ago business were limited to connections with their contacts within their neighborhood or at best their country, but with social media door is open to share your business with the world.

One may ask “how does this relate to my company/business”
Actually it has a lot and a lot to do with your business here is why;

 Social media provides an opportunity to meet people from different country, religion, and culture that you might have never meet in person therefore providing a chance of a successful and beneficial alliance in business with them.

Through social media one can establish valuable relation ship.
 
Social media offers  

1.      healthy business/ product advertising:

as of 2012 the time internet users spent on social media grow at a geometric rate , at that same time the total time spent on social media in V.S across PC and mobile device increased by 37% to 121 billion minutes in July 2012 compared to 88 billion minutes in July 2011.

With this figure in mind on will agree with e that an advert placed on social media is nothing but effective.

2.      helps in increasing customer to producer relationship building

3.      Effective spread of information about company/product.

 With all this you now know that social media is inevitable tool to expand your business through out the world.

But in out side the realm of internet the best social media for business is CO-OPERATIVE ORGANIZATION.

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