Social Media Importance for Businesses - Assignment Example

Companies now opt for mobile communications channels, context-based services, and social media in creating digital relationships with consumers.... Businesses get more information about their consumers through; social media, online chat, e-mail, Web pages, tweets, and mobile apps (Accenture Technology Vision 2013 25).... businesses appreciate the fact that consumer information is valuable for future insight.... Consumer information should assist businesses in answering specific questions that will aid businesses in attaining their goals....

However, a business network can also be the establishment of a relationship between different businesses.... Instead of only assessing the financial aspect of the business, involving the firm into the society can also be beneficial especially in new businesses where penetration of the market is being conducted and competing with the already established businesses in terms of finances is very difficult.... An example would be an informal business network that exists when a certain Chinese family handles different kinds of businesses, which is the usual case and is able to gain access to different businesses....

nbsp;social media is instrumental in any businesses given its implied benefits in various platforms.... social media is defined as a set of applications that offers information; rather it allows for the interaction of persons while giving information (Bonsón and Flores p.... nbsp;social media is instrumental in any businesses given its implied benefits in various platforms.... social media is defined as a set of applications that offers information; rather it allows for the interaction of persons while giving information (Bonsón and Flores p....

… The paper 'Significance of YouTube to the Small Business" is a good example of a marketing case study.... YouTube is a free website for sharing videos.... It makes it easy for different individuals to watch videos online.... They can upload their videos and share them with others.... It was Launched in 2005....

nbsp;One of the biggest challenges facing many e-businesses is competition.... Because of stiff competition, many businesses have laid various competitive strategies to ensure they remain competitive in their markets.... nbsp;One of the biggest challenges facing many e-businesses is competition.... Because of stiff competition, many businesses have laid various competitive strategies to ensure they remain competitive in their markets....