The internet is the highest used word of mouth by people. It is one of the fastest growing technologies that I could say I have seen develop over time. Now, almost every business has gone to some form of Social Media in order to get word out about their business. In comparison to old ways of word of mouth was advertising in papers. It seems to me that hardly anybody buys a paper now, everything has gone paperless.
The way that I look at this is that it is an advantage for everybody. Because now that everybody is going paperless, they are saving the environment. As well as, people can now save money by not having to buy a paper as well as pay for the internet. So, people are cutting their costs and still seeing advertisements on the internet of different businesses.
An example of how business users have expanded in social media is the use of those who like AT&T on facebook . In 2005, they had 70,000 members with businesses on their website. In 2010, it raised to 1.7 million people. (AT&T) As you can tell, it is one of the most expanding ways that businesses can get out there. I believe this way of "word of mouth" is going to stick around for a long time.
http://networkingexchangeblog.att.com/small-business/social-media-and-business/ (AT&T)
I would have to strongly agree with this businesses are able to reach much larger markets than ever before. It seems like nearly every company has a Facebook page and thanks to new social media it gives small businesses a better chance to expand and grow.
ReplyDeleteSocial media hasn't just affected the way businesses operate it has also affected education. Many schools are using more E-books and online resources, just think about how much we use the internet instead of papers here at IU, even though its not necessarily business related overall it is a great movement that should be embraced. I believe social media is the best way of advertising and building relationships with customers than ever before, and with the looks of things it's only going to get better.