Topic for assignment: effects of social media on business ... HELP?

[Annonoymous]

Hello,

I need help for some topics to talk about throughout my assignment on "The Effects of Social Media in Businesses"

Does anyone have any ideas?

Thanks!

David.
** College course; Small Business Management.

[Robert B]

positive or negative? Is this a College course or high school and what course?

[Joseph]

Positive

Market Your Business
After you create your business niche that sets you apart from your competition, use social media avenues to drive your message out to the public. The special aspect of your brand is what your business provides better than any other business. With business accounts at websites such as Facebook, Twitter and LinkedIn, you can professionally present your company and its message for customers, peers and potential employees to see. Social media can also be an effective way to promote loyalty incentives and sales to customers. Entice customers to interact with your company on social media websites, promising discounts.
Relate to Customers
Use social media to create a place where you interact with customers regularly. Not only will this increase your visibility within your industry, but it can also help to create a sense of community for your customers. Regular interaction with customers can keep them engaged with your company and foster deeper feelings of loyalty. Use social media to answer questions about your products or services and to promote your expertise.
Attract Quality Staff
Present your company as a winning place to work by promoting your business on social media. Create a positive representation of your business with social media accounts. Encourage your current employees to network to promote your business as well. You could even use social media to connect with universities and other professional organizations to increase your exposure and recruit high-quality individuals to your business.
Resolve Problems
Issues inevitably arise where customers have complaints, but you can turn a potentially negative situation into something positive for both the customer and your business. It can be easier for a customer to take a complaint to your business via a social media website. When the customer visits your business this way, respond quickly and personally to solve the issue. A fast solution not only wins you a loyal customer, it also serves as evidence of your winning customer service for other people, who see the way you handle the situation before their eyes.


Negative Impact

Burden of the Marketing Shift
Business marketing now involves personal engagement with customers; campaigns that do not invite consumer interaction risk being unsuccessful. While social media-based marketing can be used effectively, businesses that are used to providing a one-sided sell must now learn how to develop a relationships with people buying their product. Instead of releasing statements about product lines, companies have to develop stories that promote the culture of the product instead of simply outlining its particular benefits.
Increased Customer Power
In the days before social media, negative company experiences might stay within an individual's circle of friends; now, stories of bad customer service and disappointing products can run quickly through social media networks. It has become more difficult for companies to contain its negative publicity. The upside is that as much as bad publicity spreads more quickly, good publicity spreads more quickly as well.
Tracking Negative or Misleading Statements
Social media is an enormous conversation everyone is invited to join; with all that talk, it's difficult for businesses to track statements about their brand that are negative or even defamatory. Companies have the added burden of tracking statements and responding when necessary; the response, however, might be of limited effect if the negative statement has already made the social media rounds.
Accidental Release of Confidential Information
Individuals with inside knowledge of the company might inadvertently blurt out confidential information, damaging the company's competitive advantage. Before social media, a letter sent to the wrong address or even an email that ended up in the wrong inbox could be retrieved and the information kept under wraps. In the world of social media, the sheer numbers mean that once confidential information is out, it's out.
Unauthorized Employees Speaking on Company's Behalf
It's difficult for companies to monitor employee social media activity and prevent them from speaking on company matters without authorization. In the era of engagement, companies might strive for employees to have the ability to assert their personalities online; however, this freedom comes with the risk that even a well-meaning social media post about a company's perceived objectives and direction can damage the company's reputation or challenge the company's assertions to investors.