How To Explore The Impact Of Technology And Social Media On Today’s Businesses

There is absolutely no denying the fact that technology has an effect on every single thing around us. While some may deny the benefits of technology and social media respectively, their existence is extremely tangible. Technology often holds a good reputation, but as soon as the topic of social media arises some brows do too. Social media has been given a bad rap, but the advantages are endless. However, it takes some effort to truly realize what technology and social media can do for new and old businesses today.

Necessary Tools

Before one can even begin to fathom the endless possibilities that technology and social media bring along, there are some necessary tools that businesses must have or acquire. These necessary tools include but are not limited to:

  • Understanding Search Engine Optimization (SEO) – It is very important to know what Search Engine Optimization because it is pretty much the crux behind trying to run a completely online business. A dumbed down definition of SEO can be saying that SEO decides the online visibility of a source on a search engine. This means that it all depends on this feature whether your source is on the first page of internet results or buried somewhere on the 89th
  • Reference Effect – The reference effect can be defined as depending on another company’s reputation to boost your own because they are connected to you in some way. This connection, however, does not have to be something like a proper partnership or sponsorship, it can be as simple as a big company following your small company social media account.
  • Accounting Team – While this may seem like a no-brainer to hire an accounting team, most people disregard it as a luxury rather than a necessity for a small business.

Varied Advantages of Social Media

The most common misconception that people have about using social media is that it is just a form of distraction rather than a business tool in any way. However, there are so many advantages of social media for business such as:

  • Connecting with customers – The ability to connect with your customers is one of the biggest ways that social media impacts businesses. This ability makes it very easy for companies to understand why customers are buying their products, which demographic is pleased with the product, where are people buying the product, and what new thing they would like the brand to explore.
  • Availability – The beauty of the internet is that it is available everywhere. Most people even prefer to shop online from the comfort of their homes. Technology makes it very easy for customers to just order from the online catalog of their favorite store. This feature also comes in handy when the customer is in a brick and mortar store and cannot find the size/color of an item in stock. An online catalog makes it easy to retain business within the same company only on a different platform.
  • Trends – Social media is probably one of the biggest ways to find out what people want. Especially in terms of clothing brands, trends make it extremely easy to sell thousands of an item in as much as a second. This feature of social media also means that most prominent companies can even create a trend that goes viral in what seems like an hour. The reference effect along with trends can make a company big overnight.

Technology builds Reputation in Society

  • Perception of the Company – Some companies are considered big for a reason. They were probably the first ones to completely embrace the word technology. It is not a big feat anymore to create a website because it can be done in minutes at the touch of a button. This leads to the fact that almost all companies have a website no matter what they sell. Some companies even have a website just for general information about the company and other trivia of the sorts. Therefore, companies that do not have a website are perceived as outdated or even ones that do not provide quality items. Even though technology does not impact the quality of your products or services, it makes them look low quality/old. That is the power of technology.

Author Bio-Phrona Brown is the author of this article, and she is quite experienced in writing different social media platforms for marketing. She guides about promoting your business on social platforms. For more details you can visit here

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