History & Evolution of Social Media in Business

Before social media business would pay to have ads shown in newspapers, television and radio. With all society spending more and more time online, the way businesses are advertising is changing. Less and less money is being spent on traditional advertising and more is being spent on internet advertisement (Chaney, 2009). Why? Because that’s where the consumers are.

There has been a digital shift all around us. It’s obvious that social media has been integrated into people’s lives and society, so business organizations need to adapt to the change in order to survive (Hinchcliffe, 2012). Why should we adapt? Well, does your business want to improve in…

-financial performance

-sustainability

-competitive positioning

If your answer was yes to any of these, social media is the tool you need to use.

Although social media is a new and continuously changing tool, it has given businesses the ability to utilize a cost efficient and extremely meaningful costumer business relationship (Hinchcliffe, 2012). Social media provide analytics that can help to figure out the nine that works and the one that doesn’t. It provides businesses with information like, how many clicks did ym website get? How much time did the visitor stay on my site? Did they search for my company? These small bits of information can make all the difference in figuring out which strategies work and which ones don’t (Chaney, 2009).

Chaney, P. (2009). The digital handshake: Seven proven strategies to grow your business using social media. Hoboken, N.J: Wiley & Sons.

Hinchcliffe, D., & Kim, P. (2012). Social Business By Design : Transformative Social Media Strategies for the Connected Company (1). Hoboken, US: Jossey-Bass. Retrieved from http://www.ebrary.com

 

You may also like...