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What is 'Social Media'
Social media is the collective of online communications channels dedicated to community-based activity, interaction, content sharing and collaboration. A computer-based technology that facilitates the sharing of content, ideas, other information and the building of virtual networks and communities. By design, social media is internet based and offers users easy electronic communication of personal information and other content, such as videos and photos. Users engage with social media via computer, tablet or smartphone via web-based software or web application.
Social media originated as a tool that people used to interact with friends and family but was later adopted by businesses that wanted to take advantage of a popular new communication method to reach out to customers. The power of social media is the ability to connect and share information with anyone on Earth (or multitudes of people) as long as they are connected to the internet and also use social media.
The role Social media & networks play in helping businesses can be very significant. It can help social interactions on e-commerce sites and even facilitate direct communication with customers. The ability to collect information through social and business networks or platforms, helps focus marketing efforts and market research. It helps in promoting products and services, as it enables the distribution of focused, timely and exclusive sales and coupons to would-be customers. It can assist in relationship building, like mentioned, through special bonus coupons a.k.a. loyalty programs linked to social media.
Social media offers an easy and low commitment way for potential customers to express interest in your business and your products. Lead generation and attracting potential customers is such an important benefit of social media for business that a lot of these business and social networks offer advertising formats specifically designed to collect leads.
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