Implications Of Social Media Essay

703 Words3 Pages
The Implications of social media on the business.
Ever since the inception of Facebook almost a decade ago social media has been of the forefront of world communication. Not only has it made it easier for people to get in touch with one another but it has also had its effects on the business environment.
Social media is becoming increasingly vital to how the business communicates with its external environment and vice versa. It has helped perform with many tasks within the business with less emphasis being placed on location which has removed the major boundaries that businesses in the past where limited by in their quest for globalization. With recent surveys we have learnt of the large number of firms using social media not only for marketing
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It is a medium in which customers can transact with the business, with numerous benefits for both parties, such as: decreased costs for the customer as a result of dealing directly with the business, which will then lead to increased sales and profits; customers complaints, queries and suggestions are acknowledged at a quicker rate leading to customer satisfaction; customers have more access to the product information and new innovations the business is currently working on with minimal effort; The business is able to attract many more potential customers through word of mouth and referrals from other websites on the internet; availability: stakeholders will be able to communicate with the business from anywhere in the world, at anytime
With all the benefits that come with social media, there are also concerns and possible disadvantages in using it. The business will now have increased accountability. The speed in which people are able to receive new information and news means that the business must work harder maintain its good public image. The consequences of even one negative remark by a user online could have a very negative effect on the business as a whole. Businesses must also have people who are able deal with consumers and their personality clashes (e.g. Cell C vs. George
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