Topic > The Impact of Social Media on Business - 1517

A Use of Social Media in BusinessThe Harvard Business Review Analytic Services (2010) study showed some interesting facts. The research was implemented by interviewing 2,100 companies in 2010. It may be a little old, but its results are very understandable and authentic. It found that 75% of companies had no idea what their customers were talking about. And about 30% of them used social media without measuring its effectiveness. It might seem that at that time companies were struggling with how to use social media in business. However, around 50% of companies have already recognized social media as a significant component of their marketing strategy. In the survey, the usage of social media and the types of mediums used by media companies were also revealed. Almost 90% of companies used social networks while Twitter or other blogs were used by about half of companies. Furthermore, it was found that around 25% of companies use two to four social media as combinations. Overall, the study indicated that social media has not yet been used effectively because some boards have still failed to see how important the use of social media is. In marketing aspects, this part discusses more about social media and companies' communication to their customers. According to Kotler and Keller (2012), social media for business is the sharing of text, images and video information between customers and companies. They say that consumers' use of word of mouth when talking about products and services is very powerful, and companies today know it's valuable. Furthermore, they mentioned three main social media services used by online communities, blogs and social networks in businesses (Kotler and Keller, 2012). F...... half of the paper ......reading or apprehension. However, this does not mean that there is a way to avoid using social media. It is obvious that using social media in businesses is no longer a new strategy, but is becoming mandatory. Social media isn't everything for businesses, but not incorporating it into their businesses gives them less of a chance to survive. Therefore, companies may still be looking for the best way to use social media in their businesses. However, it may seem that companies now use social media because their competitors use it. In this circumstance, companies can finally gain a competitive advantage and facilitate their activities when they discover optimal use of social media. Furthermore, technologies ultimately do not always wait for people, but must catch up with them. Overall, there is no doubt that social media makes marketing very efficient.