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Social Media in a Growing Global Community


Still, I agree that the internet and social media are "long term tools that can strengthen civil society and the public sphere" (Shirky). We are able to share our thoughts and ideas like never before, as well as participate in a quickly expanding and innovative marketplace, while receiving messages that keep us up-to-date on what's "trending". .
             In modern societies, social media exposure is a must-have for businesses operating locally, nationally or internationally. Social media sites and applications have proven to be "excellent vehicles for fostering relationships with customers" (Vries, Gensler, Leeflang). Products of all kinds are being bought and sold on the internet every second of the day. Social media offers entrepreneurs and businesses the opportunity to build customer loyalty to their brands because of the unique nature of interactive advertising. Customers get to participate in their economy in new and different ways. They answer questionnaires, tweet their friends, and like Facebook pages. Studies show that "in 2011, more than 50% of social media users follow brands on social media" (Vries). That was 2011, and the numbers are increasing every year. Also in 2011, there was "worldwide marketing spending on social networking sites of about 4.3 billion" (Vries). Businesses are willing to invest a lot of money on social media marketing because the statistics show that it's worth it. People pay attention to what's trending in the marketplace. .
             Recent studies have performed what's called "sentiment analysis" to measure the impact social media has had on sales, where "the attention parameter captures the buzz around the product in social media" (Asur). One way they accomplish this is by "using text classifiers to distinguish positively oriented tweets from negative" (Asur). These studies have shown that "social media feeds can be effective indications of real-world performance," which means that business consultants and analysts are now able to make more accurate and far-reaching predictions in the marketplace by analyzing data collected from social media sites and applications.


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