The Importance of Social Media

26 09 2010

Social media has become a necessity for our modern society. Most of us would have more than one social networking account, whether it’s two, three, or more accounts it all shares a fundamental purpose, and that’s to share contents and converse within different networks. The most important element of social media is in the group, the network of people which lies behind it. Without it, social sites are utterly pointless to anyone. It was for this reason that made Facebook and Twitter the champions of social networking.

Due to the fact of this so-called network effect, many organizations saw the potential of benefiting from such hype. It’s an excellent tool that will allow customers to give you feedback, criticism, and recommendation about a certain product. For instance, customers are now finding it hard to believe TV commercials that would normally give false promises to certain products. As a result of that, they would normally turn to social media to find out more information about that particular product. This also enables them to make a better judgment before purchasing it; since it’s easy to communicate and exchange opinions with other users, customers are more confident when buying the product.

Let’s go back a few years and imagine what it was like before..

The image above portrays the evolution of what it once was like not too long ago. There’s a significant difference between the response times in 1998, as opposed to 2009 due to the enhancement in technology. It’s apparent that organizations should leverage on such technologies to increase their interaction speed with customers. After all, as the saying goes, time is money and money is time.

Now are you going to be in that 1998 time line and get left behind? Or are you willing to enhance your organization’s interaction with customers?

I would like to end this blog post with a video that basically sums up the very essence of social media and why you should take advantage of it:

 
 
References

  • Neagu, C. 2009. Social Media, Evolution and History
  • Benckenstein, G. 2009. Social Media Importance for Companies and Institutions







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