E-MARKETING

The Role of Social Media in Modern Businesses



Table of Contents

Executive Summary1

Introduction2

Social Media2

Social Net Work3

Blogs4

Wikis4

Podcast4

Forums4

Content Communities4

Micro Blogging5

Modern Organizations and Social Media5

Social Media and Marketing7

Effectiveness of Social Media9

Future of Social Media Marketing11

Conclusion11

References13

Executive Summary

Social media is a term that is used to refer practices, activities and behaviors, among communities of people sharing online opinions, and knowledge by using conversational media, Web based applications in conventional media allowing its members to create and share text, pictures, audios and videos with others. The popularity of social media marketing for companies and its importance can be understood by the fact that 100% of the companies in Fortune 100 belonging to Computers, Telecommunications, and office equipment industries are present on Facebook. Companies now include career sections in their Facebook pages, customer complaints, new product launches, and information details on their Facebook page. The traffic generated on a web page is also a signal of public demand and likeness of a particular service or product. In this was companies gauge the demand in market, which helps them maintain their production or accommodation as per demand estimates. The benefits of engaging in social media are multifold. However there are some setbacks, social media is not only used by the companies to make their impression but also by customers who are not happy. There have been examples famous for making the companies come on to knees to customer because dissatisfied customers launching campaigns on social media. Still, the use of social media is likely to be increased due to its potential advantages, low investment requirements and increasing digitization of business world. However, businesses will need to learn and devise models for calculating return of such efforts for greater accountability of such programs.

The Role of Social Media in Modern Businesses

Introduction

Social networking is not a new phenomenon and is a natural process inherited in human beings. However, its digital form is relatively new and in infant stages. The popularity of social websites is because of its flexibility, low cost, wider reach and fewer restrictions. Businesses are now addressing this new relatively new paradigm in the competitive landscape, and each business is investing effort to understand the benefits and ways to utilize it in their best interest. This paper, evaluates the social media and its role in marketing. The effectiveness of such program is also evaluated in conjunction with future use of such tools in marketing. The kinds of social media typically use and how the companies are using such Also, the potential barriers to social media marketing will be discussed.

Social Media

Businesses have transformed with technologies and have their methods to attract, and retain customers. Computer, internet and websites have changed the very landscape of competition among companies. Social media is one such term which was virtually inexistent a few decades ago and even not very popular since now. Social media is a term that is used to refer practices, activities and behaviors, among communities of people sharing online opinions, knowledge, by using conversational media. Web based applications in conventional media allowing its ...