Social Media Strategy & Business Growth

In: Business and Management

Submitted By limore12
Words 733
Pages 3
Social Media and the effects of Business Growth
Limor Elazar
Columbia Southern University

Introduction “Simply put, social media is an “open media for interactive communication led by normal people”” (Dong-Hun, 2010, p. 112). Social media represents new opportunities for businesses to expand their customer base and brand. Implementing social media outlets such as Facebook, Twitter and Tumblr is the innovative way to mobilize immediate marketing. Social media can be a critical factor for business image, many sites allow for customer reviews. Not all of the company’s reviews will be positive but the way the company responds will have numerous consequences for the company’s image.
Problem Statement “One of the biggest threats of social media inaction is to risk having a big, dark cloud cast over the brand” (Overhulse-king, 2010, p 42). Many companies are not aware of the information on social media and do not engage in the use. This can be very harmful for the organization brand. Lack of participation in social media handicaps the organizations by not building positive relations with customers and minimizing negative ones.
Current Situation
All businesses have inherent threats, competition, branding, company image and cost. In order for an organization to continue to grow economically they must integrate social media strategies.
“If corporations were to analyze their opportunities for social responsibility using the same frameworks that guide their core business choices, they would discover, as Whole Foods Market, Toyota, and Volvo have, that CSR (corporate social responsibility) can be much more than a cost, constraint, or a charitable deed – it can be a potent source of innovation and competitive advantage” (Porter M. E., 2006). Social media use in corporation is a tribute to the consumers and surrounding communities. Corporations should view…...

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