The Potential Social Media Offers to Businesses

2780 Words6 Pages
bulb-icon

Recommended: Critical assessment of role of social media marketing

Today: Social networks are ubiquitous. It is projected that there are more social network accounts than there are people on the planet. They are one of the primary means of communications. We use them to stay connected with friends and family, as well as to stay informed on local and world news events. As an important note, when you consider the utilization of these social media sites, it doesn’t take long to realize the potential exposure that a business could have, if it chooses to leverage it. The social networking evolution has introduced a completely new sales and marketing channel. The impacts and the revenue generated from this industry will be a key focus of this report.

Competitors and Their Market Share

Depending on who conducted the survey and the framework of the questions, the rankings for the top 15 most popular social networking sites varies significantly. With the exception, that Facebook is far and away the #1 most popular. And Twitter consistently represents the #2 ranked site. eBizMBA’s most current study, as of April 1, 2014, shows the top 5 rankings as follows:

1 – Facebook with 900,000,000 – Estimated Unique Monthly Visitors

2 – Twitter with 310,000,000 – Estimated Unique Monthly Visitors

3 – LinkedIn with 250,000,000 – Estimated Unique Monthly Visitors

4 – Pinterest with 150,000,000 – Estimated Unique Monthly Visitors

5 – Google Plus+ with 120,000,000 – Estimated Unique Monthly Visitors

One would have to assume that marketers would focus efforts on driving revenues from the most popular sites; however, there are additional factors that must be considered. For example, does the consumer of the site align with the typical market consumer? It wouldn’t make sense to market on a popular site...

... middle of paper ...

...sual.ly/social-media-market-share-2013

• http://www.ebizmba.com/articles/social-networking-websites

• http://en.wikipedia.org/wiki/Twitter

• https://blog.twitter.com/2013/vine-a-new-way-to-share-video

• http://bits.blogs.nytimes.com/2014/03/20/twitter-rolls-out-easier-faster-video-playback/?_php=true&_type=blogs&_r=0

• http://www.sramanamitra.com/2014/02/11/twitters-strategy-for-addressing-slowing-user-growth/

• http://www.cnbc.com/id/101175790

• http://a16z.com/2014/02/25/future-of-news-business/

• http://techcrunch.com/2013/09/14/twitter-co-founder-evan-williams-lays-out-his-vision-for-medium/

• https://twitter.com/

• http://en.wikipedia.org/wiki/Twitter

• http://www.bloomberg.com/news/2014-04-29/twitter-user-growth-slows-as-mobile-chat-competitors-gain-steam.html

• http://allthingsd.com/20131216/twitter-promoted-account-ads-for-mobile-go-mainstream/

Show More
Related

  • How Social Media is Used in Small Business Industry?

    1464 Words  | 3 Pages

    Social media has set in a new wave in the business world. As per the recent study carried out by Internet Advertising Bureau UK, a business having social media presence is likely to attract 80 percent more customers in future (The Guardian, 2013). Especially, for small businesses having limited time and budgetary constraints, it is important to chart out an effective social media marketing policy to give the required boost to the business expansion. There are different purposes for different small scale business organizations to use social media. Major ones are discussed holistically in the essay.

    Read More

  • The Impact Of Social Media On Small Business

    1187 Words  | 3 Pages

    It is proved that developing social media has improved the marketing platform. According to many marketing consultants, social media marketing efforts get up to 50% better return than tradition average tv or radio spot (Horovitz). These reviews show the growing connection American has with social media. Also, according to my research, “more than 80% of small companies use social media to promote their businesses list Facebook as their top marketing tool, followed by LinkedIn and Twitter, according to a recent survey of 2,292 small businesses by Webs” (Loten). This information shows the impact of social media on small businesses. According to Penenberg, “ Social networking sites, a component of social media, was responsible for more than 13.8 billion display advertisements in August 2009, which accounted for at least 25 percent of all display advertisements viewed via the internet” (Penenberg 125). This shows that, social media has changed global marketing, where marketers are not only depending on just communicating to a target audience, but also discovering new methods to impress people through Social

    Read More

  • Understanding Social Media: Platforms, Participation, and Impact

    930 Words  | 2 Pages

    Social networks help the business in a various ways. Common marketing mediums such as the radio, TV commercial and print advertising are completely outmoded now and requirement for millions of money. However, with social media the businesses can connect with their targeted customers for free, the only cost is energy and time. Through LinkedIn, Facebook, Twitter or any other social website you can lower your marketing cost to a significant stages.

    Read More

  • Technology: Recruitment Via Social Media

    2012 Words  | 5 Pages

    Before social media, people accessed the internet mainly to check their e-mails; they were physically social by meeting other people personally to communicate. Businesses were focused on using traditional mediums, such as TV, print, etc. to advertise their product and services. Nowadays, people have become virtually social; social media have made it easy for more meetings to be conducted through social networking rather than just meeting face-to-face. More and more businesses are investing a considerable amount of time and money to understand the use of social media and how it can benefit them.

    Read More

  • Marijuana Advertising Ethics

    1075 Words  | 3 Pages

    Among the billions of social media users, there is a percentage dedicated to businesses who use social media as part of their marketing strategy. The sheer number of people who use services like Facebook and Instagram on a daily

    Read More

  • Social Media as an Advertising Tool

    989 Words  | 2 Pages

    There was once a time when companies used to spend heavily on publishing, compelling, ads on newspapers and magazines just to put the word out there, but times have changed and so have the medium used to broadcast these ads. Nowadays, companies use the internet to spread the news, to be more specific, companies use the social media as an advertising tool. Over the years, social media has vastly changed the way we communicate and interact with one another, some examples of such social media might be Facebook, Twitter, and YouTube etc. This kind of interacting tools are now been used by businesses to sell or advertise their products, one might say that the social media is the modern day substitute for newspapers and magazines. One company that has been doing this heavily is Android (owned by Google), Android ads can be seen in every corner of the internet whether be famous sites like Facebook or now extinct ones such as Myspace, although one such social media that they haven’t been using is XDA developers. The site predominantly focuses on software development and discussion for Android, Windows, Ubuntu Touch, and Bada phones etc. The following paper will discuss and analyze their audience and argue why XDA developers is the best social media platform to advertise smartphone operating system companies such as Android to the general public and developers.

    Read More

  • The Impact Of Social Media On Business

    725 Words  | 2 Pages

    Sometimes the best way to see if your business needs help with social media is to get your hands dirt with a social media evaluation. Although you might not be a social media expert...yet, you can still use these questions to see how to improve your presence.

    Read More

  • Economic Impact Of Social Media

    1741 Words  | 4 Pages

    Social media avenues are a new, upcoming, and popular way to advertise for businesses and for people to connect to each other. Alexis Ohanian once said that "Being effective at social media, whether for business or personal use, means capturing people who have short attention spans. They 're only a click away from a picture of a funny cat, so you have to make your thing more compelling than that cat. And that can be a high bar." (Ohanian) Powerful usage of social media can have a big impact.

    Read More

  • Benefits Of Facebook Essay

    2552 Words  | 6 Pages

    Social networking has been progressively increasing popularity over the years in the world. Online marketing using a social network is an effective means to use in today’s time. One of the most effective means in online marketing is Facebook. Facebook is a social network that is full of users who are constantly online around the globe. It is a means which is easier for businesses to connect with customers and expose businesses to other potential customers. Though there are claims which reveal the flaws of Facebook and the ineffectiveness of it for business needs, but there are studies and evidences which prove that Facebook is indeed useful and effective. Facebook is the most

    Read More

  • Social Media for Business Communication

    1104 Words  | 3 Pages

    Social media is pertinent in use of communication throughout today’s organizations. There are many social media platforms that allow organizations to convey communication to potential consumers, stakeholders and the public. “It is essential for leaders to integrate these technologies and seek the best way to use social media and networks to the advantage of the business” (Billington, 2012, p.1). Business owners find that keeping up with current technology trends is essential in having a competitive advantage in the market place and having a strict set of standards and strategy is important in quickly adapting to social media trends.

    Read More

  • Effects Of Social Media Marketing

    1157 Words  | 3 Pages

    The most used platform by social media marketers was Facebook, which was leading the chart.

    Read More

  • Essay About Social Media Marketing

    1027 Words  | 3 Pages

    Since social media users grow larger and larger, many companies take the opportunities of using social media marketing to reach more customers. Companies use social media marketing in order to achieve marketing communication and branding goals. Social media allows companies to see what prospects are saying about their brands and competitors. It also allows companies to build deeper relationships with existing customers that drives them to purchase again and again. Not only it can help them generate new leads, but it allows them to build deeper relationships with existing clients that drives them to purchase again and again. It has become common for businesses to branch out and experiment with multiple networks with the aim of reaching the maximum amount of costumers.

    Read More

  • Social Media as a Marketing Tool

    1172 Words  | 3 Pages

    Forbes estimated that in 2011, Facebook and its founder Mark Zuckerberg were worth an estimated 50 billion dollars as a result of its growing popularity. It went from a social network just for Harvard Student to a worldwide phenomenon. Twitter as well has famous celebrities and personalities who are followed by millions. Lady Gaga, Justin Bieber and Katy Perry are the top 3 most followed people on Twitter, with over 14 million people following them and updated on their every single move. Besides the elite list of celebrities and famous companies such as Google or The New York Times using social media sites as an outlet to gain customers, one of the main reasons it is so successful is its worldwide and global appeal. People from first and third world countries are aware of it, and statistics show that one in every nine people on Earth is on Facebook, and Twitter is adding up to 500,000 users each day. Search engine giant Google, perhaps the most famous name on the internet has started their own social networking experiment, Google+, which experts have predicted will also become a powerhouse.

    Read More

  • The Importance Of Social Media On Business

    1240 Words  | 3 Pages

    Communication is now instantaneous. Electronic communication has come a long way in the past century. It started with person to person communication via the telegraph, eventually evolving with devices like the telephone. Communication became quicker and the ability to mass communicate became available to a select few. In recent years further development of the internet has made it possible for an individual or a business to mass communicate on its own. Started as a way for individuals to communicate and connect with one another over the internet, social media has evolved into a valuable tool for business. Social media is not only beneficial to modern business, but necessary.

    Read More

  • Advantages of Using Social Media in Business

    1076 Words  | 3 Pages

    Social media is a form of online communication channels devoted to society input, intercommunication, and cooperation. In social media, people can talk and interact without restriction, exchange and debate information with each other about their lives by using many different combinations of the words, personal multimedia, photos, and videos. Also, in social media, individulsa and groups can create, edit, comment on, and engage in personal conversations. There are numerous types of social media, for example, wikis, blogs, social network site, micro blogging services, and sites sharing media. At the beginning, social media was limited to a few networks sites, for instance, Bulletin Board System that allows people to communicate with each other and post a comment. Today, social media has transformed from ineffective sites to more useful and effective websites, for example, Facebook, and MySpace. Some companies are using social media to achieve their goals which is attracting more customers to company website. Three advantages of using social media in business are: raising brand consciousness, building customer relationships, and increasing performance measurements.

    Read More

More about The Potential Social Media Offers to Businesses

Open Document