Over 25 percent of the Fortune 500 companies have sites that are public, 35 have an active presence on Twitter. According In the year 2012 high 10 Social Media advertisers obtained over 20 billion impressions. One of the companies that have been in the list commented since it will become a communication station that was anticipated that people will stop talking about it. Some of those birds who executed it and realized the abilities of this concept in the business world have begun reaping the benefits.
Social Media is all though some station. Web 2.0 facilitated development of its platforms e.g., Facebook and Twitter etc. where people can produce such contents, have conversations, express thoughts and post other media components photos and videos etc. and build virtual communities where these contents can be evolved and shared. Business organizations can leverage this platform for creating brand identity, fostering cooperation, creating knowledge pool and locating resources etc. more efficiently.
There are Opinions concerning the definition of Social Networking and social networking, and their range overlap. This document considers Social Media as Social Networking and a concept among its implementation stations that are prominent. Social Media itself covers the other stations, e.g., blogs, virtual communities etc. as well. Primarily goal driven Organizations are leveraging the Social Media for attaining one or many of these objectives:
- Productivity improvement
- Operational efficiency optimization through cooperation, communication and feedbacks
- Innovative and innovative products, solutions formulations and problem solving
- Business Relationships improvisation- clients, employees, business partners, suppliers and other stakeholders
The Majority of the internet Users spends a significant amount of the time on the social networking sites. That makes it an exceptional medium for promotions and advertisements. Though advertising expense on it is comparatively low when compared to the advertisement spending over the web but it will soon catch up and is growing. A lot many organizations are currently using it for promoting their products and creating brand awareness.
Since people Interaction is at the core of the Social Media, news here runs through the word of mouth. And this provides an avenue for getting new clients based on the recommendations of another satisfied and happy client. Many businesses have begun considering polls as a thing of the past and use it for getting satisfaction levels and customer feedback. It gives an opportunity listening to the feedbacks given to the goods of the competitor as well that may be a value-add that is fantastic; and it is free. For receiving the market trends, product comparisons and so forth, this set of comments can be compiled and examined.