How Social Medias Affect Small Businesses

Small businesses constantly rely on social medias to become noticed. Studies show that businesses use social medias for various objectives, such as increasing annual growth. As I mentioned in a previous blog, Twitter, Facebook, and Instagram are three of the most common social medias that are used to advertise. In fact, “67 percent of Twitter users who become followers of a brand are more likely to buy the brand’s products” (Chron). As we see today, many smaller businesses that are looking to make an impact and living in the economy today are using social medias more and more.

(http://bit.ly/1OkC2ZI)

Now a days, the average American spends roughly three times more time on social medias than on email. Facebook is the mostly commonly used social media among small businesses. They are able to reach out to many people, especially in their communities where consumers support smaller businesses.  In the United States today, there are roughly 1.3 million small businesses. Not only have small businesses increased over time, but also the number of employees working for them has risen dramatically. LinkedIn plays a huge part in the small business role, promoting unknown businesses to the Internet.

 

How Small Businesses are Using Social Media?

As more and more users of social media are being connected today, this creates more views for advertisements and commercials for smaller businesses, giving them a chance to be seen. Many of the smaller businesses today will often post or tweet very frequently to make sure consumers are staying up to date with new and improved products. Facebook, as of 2010, has dominated paid ads for social medias. 93% of small business owners state that they use Facebook for their companies frequently. Not only do there target certain audiences, but also it allows for all Facebook users to stay engaged and up to date on the businesses.

 

Sources

Small Businesses

Biz Trends

Huffington Post

Vivian: Mass Communication

The Economics of Twitter

Purpose of Twitter 

In 2006, Jack Dorsey, Evan Williams, Biz Stone, and Noah Glass had no intentions of creating a $1.22 billion dollar social media page that would potentially connect everyone worldwide. According to co-founder Evan Williams, Twitter is becoming “an information network, a practically priceless exchange for connections, information, and the resulting activity that ensure”.  There are roughly 232 million active users worldwide that have Twitter accounts. News reporting companies such as CNN, NBC, and Fox News all have prominent and influential tweets on news around the world. For example, the Brussels bombing in the airport that happened just recently, was reported all over twitter by each one of these news companies. There was live tweeting regarding the issues and what was happening for example, at other countries like Paris who strengthened their security nationwide.

Big Businesses Impact on Twitter

Certain name brands such as Nike, Coca-Cola, and Oreos all have a certain fan group that allows users to follow them. The people who follow these certain accounts will be able to see when a product is on sale, or if a change in price is made. Also, discounts play a huge part in the role of name brands on Twitter. Through these accounts, their fans are allowed to interact with companies and customers, take suggestions that others may like, and successfully promote their brand name worldwide. Not to mention, every now and then advertisements will appear on Twitter pages that force users to watch them. Twitter today continues to grow daily in revenue and the number of users.

     

 

 

 

Sources

Business Insider

Twitter Economics

How Social Medias Affect our Economy

Social Medias and the Economy

Social medias have played a huge role in the technological advances that our world is undergoing today.  Between Twitter, Facebook, Instagram, YouTube, and various other social medias all boost the economy due to the fact that people want to constantly stay updated with new technologies.  Millions of teenagers and adults are purchasing these applications that are allowing our economy to expand and grow.  Also, small businesses are allowed explore various social medias and possibly expand on their businesses. Advertisements can play a huge role in the boost of economics when it comes to small and even big businesses. 

How This Relates To Us?

Twitter, among other social medias, benefits greatly from advertisements on their websites.  Not only will advertisements boost the economy, but more productive work and the increase in human capital are all related to the social networking impacting our economy.  These advertisement target the younger generations by keeping them up to date on digital trends.

Various social medias, such as YouTube, have commercials or pop-up ads that you are forced to watch before continuing to a site or video. This is due to the fact that large businesses are aware that younger populations are constantly connected  to the internet via smartphones and tablets every day.

On Instagram, there will be sponsored posts that companies will pay for to show off their products. These products can range from cell phone plans, clothing, or even car insurance. These all also appeal to the younger audiences due to the fact that companies think that teens and young adults have money and will be willing to purchase new items that are being sponsored.

LinkedIn gives people the ability to connect with companies and find connections with anyone in the working force.  This relates to the economic outreaching to not only young adults who are trying to integrate themselves in the work force, but also working adults who have already established themselves in the work force. 

 

Sources

Chief Marketer

Atlantic