What is the impact of social media on consumer behavior and marketing? How are companies monetizing this technology?
Social media has seen a huge growth over the last ten years. People from all ages and backgrounds use social media in their everyday life. According to Pew Research Center as of 2014 74% of all Internet user have some type of social media account. As social networks begin to become more popular amongst all Internet users, the functionalities for social media have increased. Originally users were attracted to social media because it allowed for them to stay in contact with family and friends, while meeting new people from all over the world. However, social media is now being used as a way to promote small business, music, share …show more content…
The ability for the product to appear on a user’s social media platform and then on other websites through the form of advertisements is beneficial in directly reaching the customer. According to We’re All Connected: The Power of Social Media Ecosystem “Digital technology enabled marketers to bring these passive bystanders on-board as active hunters, with Internet-based campaigns.” Additionally, referral traffic has also helped websites receive traffic through promotion on another website or social network. Partnering with other websites can help companies notice trends about their consumers and better service them through advertisement. For example, they can find the most popular items by researching which items get the most pins on Pinterest or the most likes on Instagram. This information is easy to quantify and a cheaper form of customer surveying which is very beneficial to the …show more content…
The website is a place to share and post photos of clothes, food/recipes, hair styles, pets, home décor, travel, and a lot more. Users browse through an abundance of pictures and then like the ones that grab their attention. Liking a picture is called pinning and is then added to the users own board. The users can have many different boards and they can browse the boards of their friends and others who share the same interest or style as them. The best part of the business model is the ability to click on a picture and be instantly redirected to a page that can give you further information on the picture. The information can be in the form of a website to buy the desired item, the recipe behind a tempting food picture, or how to DIY (do it yourself) to a home
Social media has seen a huge growth over the last ten years. People from all ages and backgrounds use social media in their everyday life. According to Pew Research Center as of 2014 74% of all Internet user have some type of social media account. As social networks begin to become more popular amongst all Internet users, the functionalities for social media have increased. Originally users were attracted to social media because it allowed for them to stay in contact with family and friends, while meeting new people from all over the world. However, social media is now being used as a way to promote small business, music, share …show more content…
The ability for the product to appear on a user’s social media platform and then on other websites through the form of advertisements is beneficial in directly reaching the customer. According to We’re All Connected: The Power of Social Media Ecosystem “Digital technology enabled marketers to bring these passive bystanders on-board as active hunters, with Internet-based campaigns.” Additionally, referral traffic has also helped websites receive traffic through promotion on another website or social network. Partnering with other websites can help companies notice trends about their consumers and better service them through advertisement. For example, they can find the most popular items by researching which items get the most pins on Pinterest or the most likes on Instagram. This information is easy to quantify and a cheaper form of customer surveying which is very beneficial to the …show more content…
The website is a place to share and post photos of clothes, food/recipes, hair styles, pets, home décor, travel, and a lot more. Users browse through an abundance of pictures and then like the ones that grab their attention. Liking a picture is called pinning and is then added to the users own board. The users can have many different boards and they can browse the boards of their friends and others who share the same interest or style as them. The best part of the business model is the ability to click on a picture and be instantly redirected to a page that can give you further information on the picture. The information can be in the form of a website to buy the desired item, the recipe behind a tempting food picture, or how to DIY (do it yourself) to a home