The Influence of Social Media on Businesses

Jimmy Pizappi

Social Media’s impact on the world in general

Apple

Twitter

More and more people join social media everyday The number of Twitter users increased 24% in the past two years (Statista)

Since 2010, the number has jumped from 30 million to 317 million (Statista)

Social Media’s impact on the world in general (cont.)According to the surveys I handed out, everyone

in this class uses social media in one form or another

As consumers, we take note of social media advertising and recognize its importance when it comes to businesses communicating with us

Businesses had no choice but to take notice As social media users increased, firms took actionSocial Media funding increased 33.5% in a year (LePage)

Michael Dawson, manager of Allendale Bar & Grill, knows the importance of online advertisements

Dataslices

Businesses had no choice but to take notice (cont.)Twitter’s revenue from social media ad space increased 60% in one year (LePage)

Instagram is expected to to haul in around 2 billion dollars from social media advertisements by 2017 (LePage)To sum it up, this is only getting bigger

Social Media means immediate feedbackThe post-purchase section of buying something is the most important for businesses Social media allows people to reach out with feedback, whether it is positive or negative, and incite an instantaneous responseFirms have had to hire people specifically to run their social media accounts, it must be handled diligently and professionally

Social Media means immediate feedback (cont.)It used to be emails; private, two way conversations. Now people tweet or make Facebook posts with typically negative responses Spirit Airlines: “Hate Thousand Miles”

http://inside.chick-fil-a.com/chick-fil-a-brings-back-original-barbeque-sauce/LA Times

Youtube: The Pioneer of Online Ads According to Fortunelords.com, about 40% of major companies run ads on Youtube

Youtube is so popular and well run through Google, that it is responsible for 6% of Google’s total ad revenue The amount of Youtube users that make six figures increased 50% from 2014-2015 due to the amount of users Youtube

Promotions My manager stated that if not for his Fishbowl account, he would have trouble relaying promotions and information to loyal customers. This is another example of social media keeping him connected in a timely manner and helping him run his business Again, see Chick-Fil-A and Spirit Airlines

Social Media Applications are Free There is only one way to make money for these businessesThey have to prioritize revenue in order to pay their constantly growing staff

USA Today

Statista