For the past 5 years, websites like MySpace, Facebook and Twitter have been growing exponentially. So much so that marketers have actually started to find ways to incorporate advertisements into these sites to reach mass audiences. This has led many to wonder, is this a change in how business is done, or is this just another internet fad?
Personally, I believe that while there are some signs that this could just be another fad, I really think that this has some weight behind it. I think that this is the next change, the next way that not only advertisements will be presented, but eventually, how business will be completed.
For example, many businesses already use applications such as Skype for long distance business calls and important meetings. As of the past 6 months, Facebook has integrated Skype into its chat function, allowing people to communicate via video chat through a social media website. This could eventually be easily incorporated into the business world.
In terms of advertisements, sites like Facebook and Twitter have integrated it greatly into their applications. For example, Facebook tracks our status updates and finds the basic topics and then offers ads on the sidebar related to our interests. Facebook also allows businesses to make fan pages where their customers can "Like" their page, and then offer them immediate sales or coupons for liking their page. Twitter uses their trending topics and hashtags to incorporate advertisements. Companies can spend money to make a certain hashtag a promoted topic.
I really believe that this is the next big change in the business world. Social media allows immediate advertisements and outreach to their customers and allows them to promote at a cheap cost.
