Ssocial media Essay Example | Topics and Well Written Essays - 1500 words

Ssocial media - Essay Example Social media refers to any of the many online tools that allow people to share information and learn from others through a communication network in an open process. Social media thus refers to online contents that are created and consumed by regular people for communication. As Singh and Diamond (10) noted, it may be comments a person adds at the end of a website- article or family photograph he uploaded to a photos-sharing site or a video he uploaded to a video-sharing site. From some years ago to now, business communication for most of the business had a huge impact, because social media brought tremendous changes in business and marketing communication. It has not only brought greater opportunities for many businesses, but also posed bigger challenges for many to survive in competing with others. It thus becomes very important for a small startup firm to also realize that it needs to utilize the power of the social media well in order to prosper against the big companies that are already established. The marketing and advertising needs to be very sharp; website interface must be very catchy and most importantly, it must be able to gather a large customer base. For a new business to be set up successfully, marketing communication is an extremely important function since its ultimate plan to reach its customers will be successful only if it can communicate with its people about the business and its goals. When introducing a new brand or the existing brand with new product or service to the market, it needs to be communicated to the general public in order to make them aware about it, to inform or persuade them to buy or to keep on reminding them about the goods or brand (Kitchen 21). This can be done by displaying catchy captions and promotional logos of the brand... The paper describes the social media in competitive business contexts. Almost all Fortune 500 and world’s largest multinational companies have established relatively much stronger stance in social media to use it for marketing communication purposes, and they proclaim that social media helped them a lot. A best example is Wal-Mart because as recent reports and studies revealed, social media played a significant role in Wal-Mart’s success. Large numbers of business organizations and government firms use private as well as public social networks. Turban, Bollojuand and Liang (203) found that almost all Fortune 500 firms keep on encouraging its employees to use an internet social media by creating its own applications and social discussions. It proves that social media helps businesses not only for marketing communication, but also to enhance knowledge and experiences of employees and other people by knowledge share of social media networks and thus to improve overall prod uctivity of its people. Websites like Twitter and Facebook allow companies to form their own forums and groups where they can keep in touch with one another and discuss important matters. Such an exchange of ideas is healthy and keeps employees at their toes. Moreover, since everybody checks their notifications from time to time, companies need not worry about the message not going across. For any new or existing business, consumers are the biggest concern. Almost all the businesses today are required to be consumer-centric.