It mouth. Not to mention it’s priceless.

It
is undeniable how big of an impact social media has on our lives now, to people
and to businesses. It has opened a new door to the business world and given
them a chance to interact and attract customers by exchanging pictures,
stories, news, and more. In exchange, businesses have benefited a great amount.
With the help of the Internet a company can reach out to a worldwide audience
within seconds. Social media has brought tremendous impact to the business
world because it gives companies higher brand visibility, generates new
customers, is cost effective, and introduces social networking.

Social
media has helped businesses grow to a great extent especially in brand
awareness. For example, when we are scrolling through the internet or social
media, we are constantly bombarded with advertisements. In this way, we become
aware of new businesses or of a different brand that might interest you that
you would otherwise not know exists. The biggest way of a business to connect
with potential consumers is social media. Facebook, twitter, YouTube, and many
more have influenced brand awareness dramatically. According to the
business2community website there are nearly seventy percent of account
ownerships on Facebook globally, nearly fifty percent account ownerships for
YouTube, and around forty-five percent account owners for twitter (Bullas
2013). This tells you how wide of an audience you are able to reach with the
use of social media. Since electronics are taking over ourr lives because we
are constantly checking news, emails, and social media, there is no better way
to market a company online where people are constantly connecting to for work,
school, shopping, and connecting with others. Sharing a business also encourages
one of the most effective forms of marketing, word of mouth. Not to mention
it’s priceless. According to SaleHoo, if a business is shared online by another
business, network, or person, it makes the business stick out from their
competition because it is advertised by a trusted company (De Boer).

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Because
of the internet’s wide audience, businesses are attracting new customers not
just a selected group. According to radiatemedia website, “78% of small
businesses get at least one quarter of their new customers via social media
(Denney 2013).” This shows that there are endless amount of customers you can
gain through social media. People all over the world can now get an idea of a
company without actually being near it. They can share amongst others and therefore
attract even more clients that are otherwise unreachable. Referring back to the
radiatemedia website, “45% of online adults regularly check out brand pages”
(Denney 2013). This says that because of social media people are familiar with
the brand and that’s why they return by choice because it gives them comfort
and keeps them loyal to the brand.

Although
it may seem to be expensive to promote a business, social media can be cost
effective when it comes to marketing. This is because now they can market
themselves online where people connect to daily versus paying extra to
advertise ads on TV or newspaper ads. According to social networking statistics,
there is about 1.4 billion people who use Facebook worldwide, 92 billion people
view a page on YouTube a month, and 190 million tweets people make a day, which
just goes to show the big of an impact social media (Harden, 2013). This proves
social media to be a cost effective way to reach so big of an audience like no
other. Businesses also save costs by only investing in popular websites and
avoiding websites who will have less of an impact on their business.

In
conclusion there is no denying that social media affects us on a daily basis,
which gives a great advantage to business because it increases their brand
visibility, generates new customers through social networking, and is cost effective.
Social media is a very helpful tool that will likely expand in the future. Not
only can social media connect with customers in America but they can also
connect with millions of customers worldwide. The Internet’s vast amount of
users gives shopping a new meaning, competition and consumers.