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Role of Social Media in Business

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Submitted By shujata
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Social Media plays a vital role in all aspects of businesses nowadays. It has helped in turning communications into interactive dialogues among organizations, communities and individuals which has led to a much proper propagation of information. It may include web based or mobile based technologies and the existence in multiple forms has made it all the more tempting and has become a necessity today in the business world.
Social media is one of the greatest business gifts of our generation and the reasons why we should take into account social media in business include:
• The brands can be easily advertised to huge audience through social media such as facebook, twitter etc. and these can also be used to discover what the consumers are thinking about other brands.
• Social media can also be used to conduct market research without investing a lot of funds. This will help to find out the target audience and will thus help in increasing the income through better interactions.
• Social media is popular among significant portions of entire human population and they make use of it on a regular basis. Thus these people can be reached out easily.
• Social media also provides an opportunity for relationship building with the customers that is otherwise not possible as it is very difficult to reach out each individual. Also through the use of social media, the retail establishment, consulting firm, or Service Company of any business has access to information, prospects and alliances worldwide.
• Social media can be used to track the needs and demands of the customers which can be used to serve them better.
• Expansions of businesses have taken place through video conferencing and other modes quite easily and quickly which earlier was not possible.
Social media in context with business, ethics, privacy and profits is discussed below:
Business-These days it appears that

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