Impact of Social Media on Consumer Behaviour

1094 Words5 Pages
SOCIAL MEDIA TURNING TO COMMERCIAL CHANNELS Social media is a revolutionary idea with a very bright future with further scope for advancements. The opportunities provided from this medium are immense and many organisations are making use of this medium to better their practices. Organisations are no longer at the mercy of the media to advertise or convey their message. With the help of social networking they can advertise or communicate in a more efficient way. Online communities and Blogs are becoming very popular and moreover since the advancement of embedded systems people can use them “on the go” with the help of handheld devices like cell phones or palmtops. IMPACT OF SOCIAL MEDIA ON CONSUMER BEHAVIOUR Social media has completely changed the way people communicate and maintain relationships. Of late, Facebook has become the most common social networking site. As more and more of what people think and is being communicated through the social networking sites, it is inevitable that social networks will start affecting what consumers buy and how they shop. If the new medium of social networks is creating challenges for companies, it is also handing them an opportunity. Retail, consumer electronics, and media companies are among the many types of organizations that have followed consumers into the social arena, creating Facebook fan pages, sending microblog messages, and building communities. The next phase will go beyond mere communication and influencing. Consumers will transact commerce inside social networks—selecting products, adding their selections to shopping carts, and completing purchases through payment with credit cards and points. As they do so, the era of social commerce will commence in earnest. EARLY DEVELOPMENTS IN SOCIAL COMMERCE In the beginning certain developments took place. For instance, 1-800-Flowers, a floral retailer that has ridden

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