IndexSocial media and young peopleAccessibility and consumer researchChanging how business worksSocial media and FordGoogle Plus: failure or growth potential?Government regulation and conclusionsSocial media is a rather new concept in the world academic and also for the business world. For the average individual, social media includes the various Internet applications, such as Facebook and Twitter, that allow users to connect with others. Solis provides a broader definition as “social media represents the democratization of content and the changing role that people play in the process of reading and disseminating information” (2009). This interpretation of social media is accurate as it allows us to broadcast our opinions and influence others with the click of a button. Social media has begun to change not only our business practices, but also the way we connect and communicate with other human beings. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Social media allows us to connect with others on an unprecedented level. It allows us to connect and build relationships with individuals old and new. It played a key role in the Arab Spring and sparked revolutions in the Middle East. Social media was also used by President Barack Obama's campaign to organize at the grassroots level which allowed him to go on and win the presidency of the United States. Businesses have also started to realize how social media can be used to their advantage as individuals can influence each other through these websites. Social media and young people Social media has become increasingly popular among businesses. As a new technology that reaches many young people, who are the main consumers of products, companies are trying to use social media more often in their advertising and marketing practices. Businesses have also turned to social media as it represents the new form of technology that will take precedence over other older forms of technology. Audiences fast-forward through commercials on their DVR players, listen to satellite radio that has no commercial breaks, and no longer read paper newspapers. Companies can no longer provide visibility for their products with the old way of advertising. Businesses have largely turned to social media because they are forced to do so with the advent of new technology. “Companies lost 100% of their communications a long time ago. People are discussing their brands, products, and services right now through multiple forms of social media, with or without them” (Solis, 2009). Companies may not necessarily want to engage in the social media revolution, but they are forced to as if they didn't, they would be left behind. To remain competitive in the modern technological age, these companies must use social media, otherwise they will find themselves at a disadvantage compared to others. Advertising isn't the only area where companies have started using social media. All aspects of a business have been impacted by the advent of social media. “Social media lives and breathes and touches every part of an organization, from customer service, to front-line sales, even to human resources and information technology” (Qualman, 2010). Companies have started using social media to hire employees. Social media sites, such as Facebook, have also been used as screening tools fordetermine whether a candidate is appropriate for a job position. Companies have also started using social media sites for customer service tools as customers can contact customer service representatives through the use of instant messaging. Customers can also receive support from websites to resolve issues they are experiencing with their technology. Customers can connect with other consumers to ask whether they should purchase a product or not. Businesses must not limit themselves to experimenting with or imitating other entrepreneurs in their use of social media. To be successful, companies must find new ways to use social media. Accessibility and Consumer Research One of the main benefits for businesses in using social media is that they are able to access more people than they could with television. or newspapers. “The statistic that 'one angry customer will tell up to 20 other people about a bad experience' is a no-brainer. With the use of social media such as blogs, Twitter, and Facebook, those 20 people can quickly become 20,000 or even 200,000” (Safko, 2010). Companies are also able to access these people while spending less money than they would have with older forms of technology. Since social media is a relatively new force, advertising can be purchased at more affordable prices. All a new business needs to do is create a free Facebook page and ask people to "like" it. Once a group of people like a page, their friends will like it and word will spread like wildfire. Social media also allows companies to conduct more effective research on their consumers at a more affordable price. “Social media brings customers back to the center of the organization and gives marketers a new set of tools to listen to them and encourage them to interact with the brand” (Smith, 2011). Instead of paying researchers a lot of money to research consumer trends, a company can visit websites like Twitter or Facebook to monitor trends. Companies are able to use these trends to tailor their advertising to the specific needs of their consumers. This allows companies to be more resourceful with their advertising. Instead of marketing a product to thousands of people of whom only a handful can purchase it, companies are able to market it specifically to that handful of people who would be willing to purchase the product. Businesses increase the chances of their advertising being effective with social media. While these tools allow companies to tailor advertising and products closer to consumer preferences, the tools have been accused of invading consumer privacy. As Qualman argues, the positive aspects of the social media age come with costs. “However, this does not come without a price; most of what we consider our personal privacy may be a thing of the past” (Qualman, 2010). Consumers may feel outraged by the invasion of privacy involved in refusing to participate in the website or purchase the product advertised by the company. The invasion of privacy can have negative consequences for society as a whole as people are no longer seen as individuals but as mere robots who will buy whatever they see posted on their Facebook page. Companies will have to learn how to balance the privacy of their consumers while at the same time taking advantage of the advantages offered by the social media age. Changing the Way Businesses Work Another downside of the social media age is that businesses need to change the traditional way theythey conducted their activities. Commercial activity. “It is critical that social media is an integral part of a company's overall strategy” (Qualman, 2010). With the advent of social media, companies must adopt new positions within their organizations, update technology and adapt new marketing strategies. This would require a large amount of investment from the company to improve its business. It is also a risky business to invest money in a new technology that may not succeed. Many new websites that jump on the social media bandwagon won't be the next Facebook. As websites like Myspace and Friendster prove that not all social media ventures are successful. Investing money in an unsuccessful social media site could be disastrous for businesses trying to enter a new market. Even a company like Pepsi, which has been around for decades, has had to evolve with the age of social media. Social media is helping Pepsi gain insights into their consumers that they were previously unable to do with the practices they had previously attempted. “Pepsi bypassed a Super Bowl ad for the first time in 20 years to move these millions of dollars to social media” (Qualman, 2010). Pepsi's level of commitment to social media demonstrates how business is shifting to this new mode of media. In past years, companies spent millions of dollars on coveted Super Bowl commercials because they knew millions of people would watch the game. Pepsi instead recognized that it would be able to reach this number of people through social media. Pepsi has also begun to engage consumers in the types of social media they use. Instead of using other social media sites to promote their product, Pepsi converted their website into a social media site. By allowing users to generate their own content on their site, Pepsi allows their customers to be involved in the marketing of their product. Pepsi recognizes the influences that people can have on other individuals. While this is a common misconception among marketers, social media demonstrates how much influence our friends and family can have on our purchasing habits and preferences. This new understanding of the influence social media can have on other people is being replicated by other companies who are changing their business models to adapt and succeed. Social Media and Ford Another company that has changed its business practices to adapt to the social media age is the Ford company. Qualman describes how the company used social media to promote its new car. “The Fiesta movement, where we gave away 100 Euro-sized Fiestas to digital influencers for six months, produced amazing results. Let them do what they normally do: tweet, blog, post videos and photos, and tell everyone they know about the experience” (2010). User-generated social media promotion has helped move the company forward from some tough economic struggles. The website has generated thousands of views from numerous other social media websites such as Youtube and Flickr. The campaign also helped sell more Fiesta than expected as it exposed the vehicle to more consumers who may have purchased other vehicles if they had not been exposed to the vehicle through the campaign. The user-generated social media campaign resulted in the Fiesta selling as many, if not more, models than other, more popular vehicle brands that had already been on the market for two or three years. Fiesta hasused a similar model to Pepsi's social media campaign. Instead of advertising on Facebook as other companies had done, Ford created its own website that allowed its consumers to participate in the building of a vehicle. This concept is the epitome of social media's principle of connecting consumers with businesses. Ford was also able to use user input to generate new designs and ideas based on consumer desires. Following the success of this campaign, Ford continued to make changes to their business model to incorporate more social media into their marketing. “At Ford we have adapted our marketing activity so that 25% is digital and social media” (Qualman, 2010). Ford recognized the direction the company needs to continue moving in as the social media campaign was a resounding success. Ford has made the necessary changes that the company needs for all future initiatives. Since Google is a company already created by the technological age, it would not seem to need to change to meet the advent of the social media revolution. However, Google has attempted to adapt and must continue to do so. As social media became more privatized and pursued profit, Google was able to place search engine listings on pages like Facebook. Google has also partnered with Facebook to promote their products such as Google Chrome. (Kanga, 2007). The collaboration resulted in more users using the browser as well as seeing their friends using the website. Google Plus: Failure or Growth Potential? Google has not had similar success with other social media initiatives such as Google Plus which serves to act as a browser with a social media component where you can add friends and share similar features or searches. Although Google Plus has been the fastest growing site in recent months, users who have signed up to the website have not used the features provided by the website. Although the promotion of the website has led many to sign up immediately, the functionality of the site dissuaded them from using it. Google must be able to learn and adapt from the failure of Google Plus. According to Kangas, Google must also be able to expand its social media sites from just advertising since they will not continue to grow if they do not innovate as social media sites emerge. new and more successful social media. While these examples of forward-thinking companies provide evidence of how social media works for these companies, not all companies have gone the social media route. As Solis described, many companies are hesitant to pursue the use of social media. “However, only a few sectors are embracing it and taking things forward. Even though social media is driving participation and engagement from companies, not all companies believe this is the right step." (2009). As these companies are left behind by companies embracing social media, we will see companies' use of social media broaden and expand. These companies will also create new ways to use social media, as Pepsi and Ford have done with their sites, in order to innovate and create new avenues for using social media. We will also see companies change their business models and change their revenue allocation. As companies like Pepsi and Ford begin to dedicate a larger share of their revenue to funding social media rather than traditional forms of advertising, we'll see other companies follow suit. As more and more money is devoted to social media, we may see traditional forms of media like television, radio and newspapers lose dollars.