How Does Social Media Influence Companies Research Paper

How Does Social Media beguile Companies - Research Paper ExampleThe emergence and ascendancy of social media have been awe-inspiring. Social media has become a very powerful communicating tool and has revolutionized the way in which people interact and connect with apiece other. The use of social media is not restricted to individuals alone. Companies have recognized the importance of this media and have jumped onto the bandwagon. It is hard to visit a company competing in the present day cut-throat environment and not deploying social media in its communication strategy. Social media is currently being used by companies to advertise their products, communicate internally, engage customers, listen to them and capitalize by generating a positive word-of-mouth.The advertisement spends on social media are pass judgment to continue their magnetic north trend. Globally, companies are expected to spend $23.6 billion on social media advertising this year. By 2017, this expenditure is e xpected to soar to $35.98 billion. Estimates also reveal that by 2017, advertisement on social media will represent 16 percent of the total advertisement expenditure incurred by companies on different types of digital media (Cohen, 2015). The data understandably establishes that social media has attracted a considerable amount of advertisement expenditure which was earlier incurred by companies on conventional media like television, print, and radio. While there are various social networking sites, Facebook has emerged as the biggest beneficiary when it comes to advertising on social media.