Economic Impact Of Social Media

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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.
For example, the power of Yelp can also put a business on the map. Atlas Eats Kitchen and Bake Shop boasts a 4.5 star average, with nearly 100 reviews, though its hours are limited and the location admittedly odd. "This was supposed to be our small little,
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Social media is the modern version of the paper plus more. In modern society technology runs the world and the same applies to advertising and a company’s success because social media can spread the word fast and get your business recognized by a lot more consumers. Social media is "A unique opportunity for companies to stay on top of mind with current customers and get on the radar of new customers on their preferred platform." (Zeckman) Social media has a positive impact on businesses because Zeckman claimed that due to the rise in social media, more businesses can become closer to their customers and develop the trust and security that they are the right brand for their customers. In addition, Zeckman stated all businesses can use social media to their advantage by social media to get customers more interested and thinking about their product and to get new customers drawn in by ads that if we’re not posted some people would have never heard of the business. In connection it has been shown in research and surveys that social media has a very important effect on modern businesses and Ashely Zeckman continues to support this because in her article she states that "70% of marketers found that social media activities increased traffic to their website while 75% of businesses engaging…show more content…
It may possibly be the deciding factor of a business’s customers and overall income if people start to learn about the negative aspects they will be driven away and not consider going to a place that has negative reviews and ratings. Consumers do this because it has also been proven that people trust most everything they see on the Internet. Consumers are making a decision without even visiting and creating their own opinion on something. Instead they took someone else’s opinion that they have never met and most likely does not share the same viewpoints as them. Due to this trust of Internet reviews along with ratings that may or may not be biased, a small business can become less and less popular and may possibly even drop current customers and slowly go bankrupt. In connection mostly the entire predicament is allocated to a couple pessimistic people that perhaps may not have the same viewpoint as possibly an additional consumer would have if they did not have dependence resting on Internet reviews of random strangers that are benefitted by different things at that moment in time then themselves may feel in the same scenario. Edward Mercer said that “Everything from negative reviews and comments about your company to unauthorized or
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