SOCIAL MEDIA AND IT’S IMPACT ON BUSINESS

Dr.Bhagya Lakshmi Burra

SOCIAL MEDIA AND IT’S IMPACT ON BUSINESS

Authors: Dr.Bhagya Lakshmi Burra

Unique Paper ID: 175280
Volume: 11
Issue: 11
PageNo: 2538-2542

Keywords: No Keywords Found

Abstract:
In the recent era of technological advancement, social media in business is slowly being appreciated by organizations globally. This is because the internet is viewed as the new frontier for doing business. It provides a platform where organizations can reach a wider audience while bypassing various difficulties like time, availability, accessibility, and distance of reach. The sector is growing at a phenomenal rate. Facebook, YouTube, Instagram, Twitter, and other social media play an essential role in how online users discover, research, and share information about brands and new product businesses. An online survey reported that around 60 percent of consumers who research products online learned about a specific retailer or brand through social networking sites. Active social media users are more likely to read product reviews online to learn more about the product and to get to know the credibility, reputation, and history of the company before purchasing. Another essential use of social media for any business is to keep track of organizations competitive positions by providing vital market information and statistics around an industry. Social media also fosters the exchange of knowledge and expertise, thus speeding up innovation and the development of new products based on the feedback, suggestions, and recommendations of consumers. Finally, social media holds several real benefits for businesses with few negative impacts on business development.

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Cite This Article

ISSN: 2349-6002
Volume: 11
Issue: 11
PageNo: 2538-2542

SOCIAL MEDIA AND IT’S IMPACT ON BUSINESS

Available:https://ijirt.org/Article?manuscript=175280

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UGC Approved
Journal no 47859

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