Social Media Paper

In: Business and Management

Submitted By robonil
Words 8364
Pages 34
Social Media and the Small Business

IS535 Managerial Applications of Information Technology

October 21, 2009

Social Media and the Small Business

Abstract Social media has gained significant momentum as a business tool in the past five years. In the following study will analyze how selected small businesses currently use social media, how the businesses may expand the use of the social media medium and precautions small businesses should consider when utilizing social media. The business owners interviewed for the research study vary in their product and service offerings: personal training, music, systems consulting and a karaoke machine retailer. The conclusion of the research will include recommendations for how small businesses may consider the utilization of social media as a strategy to gain or maintain competitive advantage. Social Media and the Small Business

Purpose of the Report Social media outlets such as Facebook, LinkedIn, MySpace and Twitter have widespread, worldwide popularity. According to Facebook's Press Room statistics, there are over 300 million Facebook active users worldwide, and more than six billion minutes are spent each day, by users, online (Facebook, 2009). The allure of social networking is tremendous, making it possible for people to connect globally, with ease and free of charge. Many small businesses utilize social media as a marketing tool because it costs nothing and it reaches a large audience. The purpose of this study is to reveal the strategic implications social media and networking provide for small businesses seeking competitive advantage. The research team will first analyze how social media advertising differs from traditional marketing and advertising. Interviews conducted with four small businesses, currently using social media…...

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