IMPACT OF SOCIAL MEDIA IN BUSINESS

Abstract

In the recent era of technological advancement, social media in business is slowly being appreciated by organizations globally. This is because the web is seen as the new frontier for doing business. It provides a forum for organizations to obtain a broader audience and circumvent various barriers such as time, accessibility and distance of scope. The industry is rising at a remarkable pace. Facebook, YouTube, Instagram, Tweeter and other social media play a vital role in the discovery, study and exchange of knowledge about products and new product companies by online users. An online survey revealed that through social networking sites, about 60 percent of consumers who study goods online learned about a particular retailer or brand. In order to learn more about the product and to get to know the credibility, integrity and background of the business before buying, active social media users are more likely to read product reviews online.