Name: Tebogo Mokoena
Student Number: 201414924
Lecture: Sithembiso Khumalo
Due Date: 11 March 2016
TOPIC: “Discuss the impact social media has on the global economy as far as business-related interaction is concerned”
Introduction
This report is about the impacts that social media on retail businesses. It will start by defining what social media is, it will also discuss in broad the nature of social media. It will follow by defining customer in relation in business perspective together with discussing the management of customer relations in a business retail. This research report will conclude by discussing the impacts that social media has on marketing, reputation, profitability and customer relation of the business, it is
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Social media allows businesses to interact or to reach a number of people whether they actual or potential customers. It is affordable for businesses to promote their products and services on social media as they also build relationship with their customers. Businesses get instant feedback from their customers when using social media platforms. Social media provides businesses access to their potential customers which will lead their customers to be loyal.
Customers use social media to know more about business companies they know little about. Social media provides improved customer service for businesses. Using social media platforms benefits businesses by creating efficiencies within the enterprise and creating innovation as well as creating new services that did not previously exist within the business enterprise. Engaging in social media will help strengthen the brand experience which will support brand building. Through the use of social media, a business becomes attractive to its customers. Social media will help in building good reputation for the business retail. Through the use of social media, the company can repeatedly reinforce the brand name. Customers experience a brand privilege while using a product and also when interacting with the
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There are five principal risks that businesses has in regard to social media. The first challenge is a perceived loss in staff productivity, data leaking from staff gossiping freely in an open environment, damage a business’ reputation. Posting on social media is vulnerable to cyber criminals’ activities by disseminating wrong information that can cause embarrassment to the business. Employers worry that staff are wasting time on social media during working hours, weakening productivity and increasing risks to the business retail company by sharing data externally. Employees who spend time on social media such as Facebook and twitter has resulted in employers banning the use of social media during working
Justine,T & Cassie,H (2014) Social Media in the Workplace-The Good and the Bad/Workplace…Retrieved from www.workplace/awardstrategy.com.au
This paper will discuss and identify the effects of social media, and what will make social media better through research on best practices. Social media is an imperative public relations tool for companies to utilize in their business practices. Social media cannot be regulated so anyone can say what they want about the company, whether it is good, bad or ugly. Social media is developing rapidly and there are new platforms daily, making it necessary for companies to not only be familiar with those platforms, but also know how to reach the consumer through them.
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.
Since the introduction of internet in the 1990’s, its importance worldwide has always grown tremendously. From the first email send to the domination of Facebook and other social media websites, it has changed the way people communicate. The use of social media is increasingly becoming the preferred way people share their daily activities, ideas and knowledge and that is why it’s the most talked about and used platform. Many companies are encouraging their employees to use various social media platforms and engage online for office productivity, posting opinions and presenting their thoughts. Corporations realize that Social Media tools such as blogs, forums, podcasts and social networking websites makes internal communications faster, more convenient and effective. Social media is a low-cost, high-impact tool that can also complement and reinforce your existing communications efforts. It gives a new dimension to internal communications in many ways: building relationship with employees, leads to diverse thinking and innovation, and reduce costs and Increase Productivity. Social media has impacted positively in the business world, but its downside has impacted teens in high school, with issues such as cyber bullying, and people using Facebook and twitter to get over their boredom and research proving that the more they use social networking websites the more envious they feel.
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.
Technology has come a long ways from its existence till today. In today’s modern world, people are surrounded by technology everywhere. In the present, people are surrounded by disrupting technologies every day. Today innovators are always creating new technologies that will make an impact on the daily lives of millions. Technology has made the lives of many people easier. The influence of technology has made an impact on social media. Social media has impacted the society in many ways. Whether it is the life of an individual to how successful a company is going to be. Social media is not just about tweeting about what you just accomplished or instagraming what food you are about to eat at a very nice restaurant. The uses of social media is way broader. Now most social media companies are buying out and merging with many other companies that will be off use to them. The people of society has certainly come from a long way. Social media is influencing consumers in what they are going to buy next. Social media is helping businesses to become more aware of their impact they have on they customers. Social media has a big presence for an individual and a business. This research paper is going to be over how social media impacts an individual. Then it is going to be about how much of an impact it has on businesses. Afterwards it is going to go over the pros and the cons of social media in society. Then this research paper is going to conclude on where social media is heading towards in the near future and so on.
Although social media has provided todays society with instant forms of communication and ways to connect, it also created a new standard for living and has caused problems for many groups of citizens in all walks of life and has caused society to re-think its usage. There are two views about social media, either. It is a positive addition to society and its benefits outweigh the risks, or that social media causes more harm than good and it’s usage should be limited. Some of the ideas that are central to the idea that social media is a benefit to today’s society are that social media encourages increased communication with friends and family, provides fast access to breaking news and other information, and helps businesses attract new business and correspond more quickly with their existing customers.
Today 's generation is all about social media. It is the new way to have instant connection to thousands all over the world. Today 's company are now doing less traditional television, radio, and print advertisement and more promotion via Twitter, Facebook and/or Instagram. Companies are invested in getting famous people to post pictures or tweet about their products, knowing that, one person can connect with millions with just one post. Over half of the world has access to social media, making them great consumers. Social media benefit marketing by giving the companies the opportunity to learn their audience/consumers, having access to instant feedback and bring awareness to here product.
Platforms such as Facebook and Twitter allow users to access company information, photos and employees as well as ask questions and express personal experiences with the company. It also allows potential employees to understand the vibe of the organization and gain a deeper and more personal understanding than a website. However, with social media, it is important to not ove...
Social media is a controversy topic in today’s society. Some people think that social media destroys human interaction and real life human relationships. While others think that social media is a bless to humanity. Social media makes human interaction much more convenient and much faster than real life human interaction, it makes globalization a reality, it gives a chance for introverted people to express themselves, and it also benefit develop international relationships whether its business or social.
..., which can result in decreased productivity. An employee may be spending more time viewing their friends’ posts and pictures, rather than focusing on their job. Social media can be addicting to some people. This should be monitored by all business owners. Employees can attend a party with people taking pictures, and then the pictures can be misconstrued or distorted. Online reputational concerns can be critical for businesses along with their employees. It can result in loss of employment, loss of economics, and unforgivable social humiliations. Businesses are at another disadvantage while using social media because followers can post negative comments on the business’s Twitter, Facebook, and Instagram site. Also, a hacker can retrieve the company’s page and post false information. A business or organization’s reputation will suffer from these actions. (Oravec 97)
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.
Secondly, the social media has made it easier for businesses and business people such as bankers, business owners, brands, and even celebrities to communicate faster and to get things accomplished. Through social media interaction networks such as Twitter, Instagram, What...
In the end, social media provide a way of keeping in relations with friends, also allow many companies to reach a large number of costumers and to be more productivity. At the same time, media are changing the ways in which we communicate and interact with others. Social media is a very interesting thing in our life. It was made for the free exchange of lots of information all around the world without boundaries but we have to know well how and why to use these media.
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.