Effects of Social Media on Modern Business

In: Computers and Technology

Submitted By frostbite
Words 3390
Pages 14
The effects of social media in modern business
Introduction
Thesis statement: Social media affects modern business positively and negatively. Social media alludes to web-based applications that facilitate interactions in which people exchange information in virtual networks and communities. It requires Internet and mobile technologies to develop interactive platforms that allow users to generate, modify, discuss, and share content. Reach, immediacy, frequency, and permanence are some of the features that distinguish social media from traditional media. Social media technologies have many forms, including Internet forums, social blogs, vlogs, weblogs, wikis, podcasts, social networks, microblogs, and videos/pictures/photographs. Popular social media platforms include YouTube (for video-sharing), Twitter (for microblogging), WordPress and Blogger (for blog hosting), Flickr and Photbucket (for photo-sharing). LinkedIn, MySpace, and Facebook (social networks), Digg (a social news site), eHow (an article directory), and Wikipedia (a collaborative project and wiki-based encyclopedia). Others are content communities, such as DailyMotion, virtual social worlds (Second Life), and virtual game-worlds (World of Warcraft) (Kaplan 129-130). The present paper will discuss the positive and adverse impacts of social media on modern business.

Positive effects Social media outlets have broadened the channels that companies can use to market their products/services. Businesses no longer need to rely on print and broadcast media, which can be expensive in terms of paying for advertising space and airtime. Through social media, businesses have an inexpensive and fast way of making their products/services known to their target markets. “Thanks to digital media, companies can get their information out to the public faster than ever. Instead of printing inserts and waiting for…...

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