Introduction Chapter: Social Media in Today's World, Technology

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Social Media

In today's world, technology is continuing to dramatically evolve how we live our lives. New innovations in technology have changed how we see the world, interact within it, and even communicate with one another. One of the latest trends in the modern environment has been the explosion of social media, where online and viral communications and networking are forever changing how we relate to one another.

For small business, social media represents both an opportunity and a threat. Small businesses today have an imperative to understand what social media is, how it affects them and what they can do about it. Kietzmann et al. (2011) outline the building blocks of social media. Social media consists of various platforms that consumers use to communicate with each other. There is a "diverse ecology" of social networking sites that help users to perform this function. Because this form of communication takes control of the message out of the hands of the company, it represents a risk to small business. Consumers can post something negative about the company on the Internet, and the audience can range from a few friends to an audience of millions. While the latter is a crisis for any business, small businesses can face strong adverse effects even with the former.

Kietzmann et al. (2011) outline the seven building blocks of social media. These are presence, sharing, conversations, identity, groups, relationships, and reputation. For a small business, understanding these distinct building blocks and how to leverage the company's social media presence around the building blocks is essential to success. Jonscher (2012) outlines the potential of social media for small and medium-sized businesses. Often, smaller businesses face marketing barriers because of the high cost of advertising. It is expensive to produce, and airtime can be costly as well. As a result, small businesses are at a strategic disadvantage to larger firms, because the lack economies of scale in their promotional capabilities.

What Jonscher (2012) argues is that social media can help to erase those boundaries. Many small businesses, however, do not… [END OF PREVIEW]

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Social Media in Today's World, Technology.  (2012, November 12).  Retrieved November 21, 2019, from https://www.essaytown.com/subjects/paper/social-media-today-world-technology/6396267

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"Social Media in Today's World, Technology."  Essaytown.com.  November 12, 2012.  Accessed November 21, 2019.
https://www.essaytown.com/subjects/paper/social-media-today-world-technology/6396267.