How Social Media Assists Business Development

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How Social Media Assists Business Development
Social media is a collective term used to describe applications and websites designed to enable people to quickly and efficiently share content. Some of the commonly used social media platforms include Facebook, Twitter, Instagram, YouTube, and LinkedIn. This computer-based technology is crucial in modern society as it facilitates the sharing of opinions, ideas, and information among people from all parts of the world. Content shared includes personal information, documents, photos, and videos. Originally, social media was designed to facilitate interaction between friends and family.
Nevertheless, businesses have included the channel in their operations, which they are using to reach out to consumers. They are exploiting the ability of social media to connect and share information with people all over the world or with many people simultaneously. Businesses are targeting the younger generation, individuals aged between 18 and 30 years because they form a large percentage of people using social media. This portion of the population is also relatively wealthy and better educated, making it a perfect target for businesses. Therefore, if a business anticipates establishing a strong presence in the contemporary market, it is crucial to incorporate various social media platforms such as Facebook, Instagram, Twitter, LinkedIn, and YouTube among others into its operations.
One way social media can foster business development is by generating revenue since various platforms can be used as promotional tools. Companies have now turned to social media as the main tool of advertising their products and services and are abandoning traditional mass media due to their ineffectiveness and higher cost. Social media platforms such as Facebook, Instagram, and YouTube do not charge advertisement fees, and through these websites, companies can reach many customers with a single click. The net returns of advertising on social media are higher compared to that of mass media, and the business is more likely to tap more customers using social media than traditional forms of advertisement. Subsequently, any business using social media as an advertisement tool is more likely to generate higher revenues than the ones that use other means.
Moreover, social media plays a crucial role in strengthening the brand of a company because it allows customers to connect and interact with the business on a more personal level. Giving customers an op...