Social Media

Executive Summary

The biggest development after the development of the internet was that of social media. The internet helped to connect the world, social media took this to another level with the whole world now at the fingertips of individuals. Services such as Facebook and Twitter have changes the way we communicate and spend out spare time. The connection between business and social media has given further importance to it as people can now find, review, and purchase goods online without having to leave the house. Social media has further been developed with the introduction of smartphones. Now people are networking on the go thus making communication easier and assessable to the masses without having to bear high costs. With social networking continuously developing, the future is bright and it is expected that the world of commerce will be undergo a radical change.

Executive Summaryii

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Introduction1

The Rise of Social Media1

Drivers of Social Media2

Mobile Phones2

Proliferation3

Evolution of Social Media3

The Global Mailbox3

Social Care4

Influence of Friends4

Social Media in Business5

Online Business6

Social Media and Journalism6

Conclusion7

Introduction

Social networking and media are no longer something new to mankind as it has developed significantly and has been around for quite some time. It emerged two decades ago and since then it has become an important part of our lives. It now offers customers meaningful and new ways to engage in communication with brands, events, and people. Today, this development is a global phenomenon (Watkins, 2009).

Social media has transformed the world by making people more informed and is currently assisting them in their everyday life. The ease of use and its cost effectiveness has led to its spread all around the world. This has made it lucrative for businesses to target it as it provides a stronger platform compared to websites. The fact that websites have to be visited by consumers in order for them to know what the company is offering means that the company has to first market its website. However, in the case of social media, the company markets an attractive product of service which pulls the customer towards the website and in this way the company is able to sell its offering without many efforts.

The Rise of Social Media

A few years back, having a website was sufficient for businesses in order to broadcast and disseminate information. However, things have changed today with social networks playing a role more important than the websites of businesses. Social networks such as Facebook and Twitter are the new driving forces of business in this online global environment. These network's not only facilitate the interchange of information but also helps expand social interaction, and increases the collaboration and exchange of information. Everything from the marketing of products to disaster response are all prominent uses of social media (Walz, 2008).

Although aimed to get people connected with each other, social media has been targeted by businesses as the means of targeting markets. It has developed in a way that can facilitate users in being aware of the ongoing events in the ...