SOCIAL MEDIA SITES FOR BUSINESSES

Prepared forBusiness Communication 300

Prepared byJack Li

April 4, 2015

TABLE OF CONTENTSExecutive summary........................................................................................................... 2Introduction.......................................................................................................................5Facebook6Twitter..8Youtube10Conclusion11

LIST OF ILLUSTRATIONSFacebook chart7Twitter chart ..9Youtube Graph10Infograph..11

EXECUTIVE SUMMARYIn the digital era, everyone is connected through social media and soon, it wont be just a luxury for businesses, it will become a necessity. There is nothing to lose when using social media for your business but plenty to gain. There are many different social media sites that can benefit your business but the top three that will benefit your business the most is the following:Facebook. This is the #1 social media site in the world and it is a great place to go for engaging with your customers. 62% of millennial research their product on Facebook before making the purchase. If there is no information for them to look at, they wont purchase the product.Twitter. Twitter is a great place to post updates about products. In 140 characters or less, businesses can give updates or information about upcoming events. Hash tags are also created so people can be linked to the businessYouTube. This social media site is great for demonstrating products. It can also be used to create attractive content revolving around your product, which will attract a bigger audience. On These findings, Most company expand their brand name exponentially after using these social media sites. They also have a huge revenue increase so businesses should definitely use these social media sites.

INTRODUCTION: SOCIAL MEDIA FOR BUSINESSES

Background:Since the start of the 21st centuries, social media has changed the way businesses work and function. Social media is websites and applications that allow users to create and share content with other users. In the business world, social media has allowed businesses to announce contents, promote their products and connect to consumers. Problem:Many businesses today still don't have knowledge of using social medias to benefit their business. Significance:Ceo of Maximize Your Social, Neal Schaffer says, "Social media replaces nothing, but compliments everything." Social media will only benefit your business and this is the reason why all businesses should use it.Scope:There are many different types of social media and they have their different functions. This report will explain the types of websites and application and the ways it helps businesses.Organization:The top Social media sites for businesses are currently Facebook, twitter and Youtube. The following report will discuss each topic and their own benefits.

Facebook, the Mother Ship of Social MediaFacebook is a social networking service created in 2004 by Mark Zuckerberg and his colleagues. It is currently the number one social networking service used today with more than 1.39 billion active users. With this many active users, there is no reason to not use Facebook as a tool for your business. These are three reasons Facebook should be used as a tool for businesses:1. Engaging with customers2. Good source for advertising3. It's Free!

Engaging with customersFacebook has made it easy for businesses to engage with their customers. Businesses can create a fan page, which they can access and communicate with consumers who like the page. With a fan page, a business can get feedbacks from customers about a product and also respond to those feedbacks. This will build a better relationship with the customer.Good Source for AdvertisingWith more than 1.39 billion active users, Facebook makes a great place for advertising. By creating a post on your fan page, customers who follow you are allowed to like and/or share that post. The average user on Facebook has 139 friends and when that user likes and/or shares the post, all their friends will also be able to see that post on their newsfeed. It's Free!The best thing about Facebook is that it's free. It doesn't cost anything to create a fan page and make post to that page. Because its free, the business has nothing to lose and only customers to gain from using Facebook.

The Pie chart shows The percentile of people who are likely and unlikely to recommend brands that they are a fan of. 56% of fans will recommend after becoming a fan. The second pie chart shows the percentage of people that will buy from the brand they are a fan of. 51% of peoples will buy from the brand they are a fan of.

Twitter, Keeping Customers UpdatedTwitter is a micro-blogging social media service that enables users to express their thoughts in short 140-character or fewer messages. Twitter currently has more than 284 million active users, which also makes it a great place to engage with customers. Keeping Customers UpdatedTwitter is a great place to keep customers updated about what is going on with the company. Whether its a big announcement coming soon or just a minor fix to a product or service, you can let your customers know with a simple tweet. Brand MarketingTwitter is a great place to get the name of your brand out. Through hash tag links, other users can click on that link and see that brand. By creating creative tweets, other users can retweet and allow their followers to also see the tweet. Statistics-67% of users are likely to buy from the brands they follow-79% of users are likely to recommend the brands they follow-41% of active users share opinions about product/companies-39% of active users make recommendation about product/companies-31% of users ask for recommendation about product/companies-19% of users seek customer support from twitter

The following chart shows the Active roles of twitter in purchasing decision making.

YouTube for Viral MarketingYouTube is the place to go for viral marketing. YouTube is the second largest search engine. YouTube is where a huge percentage of viewers go to for videos and it is a great place to gain audience. Demonstrating productYouTube is a great place to demonstrate a product or have people review it. 81% of customers research their products online before buying it and YouTube is a place where people go to see the product in action. By demonstrating how well a product works on YouTube, customers will be more open to buying that product. Attracting New AudienceYoutube is a great place for attracting new audience. By using creativity and making good content people want to watch, Videos will go viral and the brand name will expand. Once people get to know a product, they are more likely to purchase from that business. The following graph shows the top 100 brands investing onto YouTube and their revenue is increased.

Summary, Conclusion, and RecommendationsAfter analyzing the following Social Media sites, facebook, twitter and youtube are the best. It is no longer a luxury to have social media for your business but a necessity. Many businesses owners are now using social media sites to attract new customers and connect to them. The following have their own functionsFacebook. Used for attracting fans and getting brand names out. Creating a fan page will allow users to like your page and keep updated with your business.Twitter. Great tool for updating customers. Customers can hashtag your brandname and create a link for others to see and click on.Youtbe. Great tool for viral marketing. You can create content and attract bigger audience which will expand the name of your brand.Here is an Infograph that sums up why businesses should turn to social media.

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