Tuesday, April 2, 2019

Social Media And Its Impact On Global Business

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Social Media And Its Impact On Global Business

By James Byrd
It can be said that social media has structured the processes of how consumers share their common experiences in terms of brand acceptance and that of furtherance of the innovative processes of various products going forward; in general, the social media tool enhances the future capabilities of the firm going forward. The social media procession has, in fact, created channels that not only reach the almost next to impossible frontier of customer care and product developments, but it has also created avenues or channels of direct engagements, whereas companies can better capture the direct feedback of customers via surveys and suggestions, instantaneously, (Solis, 2011).
This emergence of the new channel of communications gives the consumer somewhat of an enhanced involvement within the development processes of business as usual. This emergence of user-generated content (UGC) does indeed have a far-reaching effect on the developmental stages of the current commercial environment and how it does business as usual. The idea is that, as of now, the customer is not at the whim of a firm’s product developments and services design flows. Social media has ushered in a power shift that currently integrates UGC towards the expectations of the consumer, and not so much the putting of content in front of consumers that businesses with their potential customers to see. With this it can be said, what makes sense to the customer is the output of UGC, (O’Brien, 2011).
In conclusion, the main focus is on UGC and its effects on current commercial business-to-consumer relationships. This so call relationship gives more say so to the demands of the users or consumers. That factor could induce, or somewhat increase productivity – that would be a valid expectation, (O’Brien, 2011).
With these new technologies, business as it was once measured, in terms of turnovers, needs new milestones or mechanisms to be able to better understand economic growth. The extent of these economic measurements should be such that they encase the global impact of these new channels of communications. In broader respect, the more transparency, the more trust the consumer will have when it comes to UGC.
Sources:
Solis, B. (2011). Engage! Revised and Updated: The Complete Guide for BRANDS and BUSINESS to Build, Cultivate, and Measure Success in the New Web. (2nd ed.). Hoboken, New Jersey: John Wiley & Sons, Inc.
O’Brien, C. (2011). THE EMERGENCE OF THE SOCIAL MEDIA EMPOWERED CONSUMER. Irish Marketing Review, 21(1/2), 32-40. Retrieved from http://connection.ebscohost.com/c/articles/71525214/emergence-social-media-empowered-consumer

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