Social Media Impact on Business

10617 words 43 pages
Contents:

1. Introduction 2
2. Social Media and Business 2
3. Types of Social Media and Their Importance for Companies 4
4. Social Media Functionality Blocks and Their Implications for Companies 7
5. Social Media and Information Half-life and Depth 10
6. LinkedIn Poll 12
7. Recruitment and Search for Talent 13
8. Advertising and Brands Enhancement 17
9. Customer Profiling and Customer Service and Realtionship Management 21
10. The Future of Social Media 25
11. Conslusion 28
12. References 29

1. Introduction

Before the invention of the Web, organizations had only two significant choices in order to attract attention: they could either buy expensive advertising or get third-party ink from the media. The old rules of marketing were
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Most of us are active members and participate in some of these types of social media with personal content and purpose, but it is essential to understand that most of them provide important business opportunities.

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Webber uses the term "social web" instead of social media, and defines the social web as "the online place where people with a common interest can gather together to share thoughts, comments and options". The social web is a new world of very cheap media created by individuals or enterprises on the web and they include: ➢ Reputation aggregators are search engines such as Google, Yahoo!, Ask and Live. They aggregate sites with the best product or service to offer and usually in order of reputation.

➢ Blogs are online journals where people can post ideas, images, and links. Some appear on personal or corporate sites, while others are hosted on Blogger, Weblog and other blogging sites. (Webber 2009) In the simplest terms, a blog is software that allows anyone to post content to a website or blog home page. The content is generally displayed much like a journal might be written, in reverse chronological fashion. This content can be anything the author chooses to write, or post, as it is referred to in blogging terms. (Lets talk) Anyone can post on a blog as often as they like, and can promptly read posts from other like-minded bloggers.

➢ Microblogging has its roots from the advent of the web log – the blog. With time,

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