Social Media in Relation to Business
While technologies grow, humans have begun to change their communication behavior. Instead of face to face talk and physical feelings, society now sends and receives information through the internet superhighway, specifically social media websites. The most popular of these is currently Facebook, closely followed by Twitter and Google chrome. While the companies that produce these websites and potentially fund them play some economic role on the nation and world, business interactions have changed vastly within the websites themselves. From customer reviews to advertisements, the thought process within the mind of the consumer has become complex and more informed. Even the necessities of the average human have changed with the use of online communication. This includes an increase in fast foods, as well as sufficient equipment to fit the task of taking on a virtual world of peers.
To better understand its effect on business, it is important for one to first have a full knowledge of the use and purpose of a social media website. To keep people connected, some of the first of these websites formatted a search bar to find lost friends, classmates, and family members. At the same time, dating websites started to rise in use, an idea that branched from the possibility that a lover can be picked based on information they share in common. As this became something of the norm for many, a general social media website was developed by a student at Harvard. This, arguably, perfected the idea of laying out semi-personal information to get a quantitative perspective on human personalities. While the format and user friendliness of the websites become indisputably substantial, this website, which goes by the name of Facebook, is used by hundreds of millions worldwide. This caused a chain reaction of other social media websites, which now control not only a large portion of personal information but also fiscal business transactions, in theory. These websites have streamlined and changed the behavior of the growing demographic of computer users.
As part of these websites focus on talking to friends and family, an additional feature of many consists of the socialization with, for lack of a better term, strangers. Talking to new people is not always in the interest of personal information, but also shared interests, which often relate to products within the global business market. Fan pages and company profiles allow users to share their experiences with new phones, foods, and services. As these different goods and sources of revenue change and modify, possibly for the worse, the public now knows about it instantaneously. Profile holders can comment and discuss the benefits and disadvantages they found with the new or trusted product. This proves advantageous, as instead of advertisement, the public can read actual information about what others have to say.
Advertisements alone are the source of power for social media websites. As more members join the websites, there is a higher potential for a company’s advertisement to be viewed, and thus the value of the advertisement is increased. Companies like Facebook, Twitter, and YouTube can make millions by simply giving up a small portion of their home screen. These portions are filled by the highest paying company, usually one with significant corporate merit. They are given creativity to fill this with anything that can catch the eye of a consumer, and in modern days, the advertisements adapt to the page being viewed to specify the type of customer they go after. This has increased the financial success of companies with advertising budget, as well as giving a strong source of income to the creators of such websites.
While it seems that the corporate business world thrives as it resonates with the satisfaction of social media users, there will always be disadvantages. The most common of these is a lack of balance between advertisements and actual content. Others include discrepancies between the website owners and advertisement content. These can hold back the growing trend, but has shown no major dent in the relationship between business and social media.
Websites that specialize in person to person communication have modified the way business is conducted. With online advertisements connected to popular websites, companies can get the word out about their products and services faster than ever. In addition, other users of said products and services can compare and bounce ideas off of each other. As this online habit increases, as will its impact on business.