The way people find information has now become a lot more easier. Consumers no longer rely on referrals and expect advice in making decisions as to which product or service solves their problems in the best way. They will first do a research and seek opinion from real users of the products and services. Social media has offered various ways of finding that vital information without reference to the seller or service provider.
Facebook is here to stay. When it started spreading across the world, many businesses looked on Facebook (and for that matter social media) as a threat to productivity. Employees were banned from using Facebook during office hours. A few years later, it is the businesses themselves that are signing up to Facebook. The problem that most businesses with Facebook profiles is how to convert their networks into sales; in simple terms how to monetize their networks.
Social commerce is a combination of two terms: social media and e-commerce. It is basically how businesses are taking advantage of social media to do business. There is no doubt that the last few years have seen businesses trying to stick with social media, with the year 2010 being the most substantial in this direction.
The current development is a clear going from what used to be a negative effect of businesses about social media. Before 2010, most businesses saw social media as time wasting and so employees are not allowed from using such sites as Facebook and Twitter during working hours. In some places these sites were banned and access blocked on company systems. This has changed a lot and the companies themselves are creating pages on Facebook and Twitter.
Believe it or not, the social media has taken over the business arena. More and more people are using various social media platforms in their daily interactions and decisions are being influence by information gathered from places like Twitter, Facebook and MySpace. Businesses have started taking advantage of this to review and redirect their overall marketing strategies. The concept of social selling which is a way of entering into a discussion with the customer has taken over from the coercive marketing strategies that existed before. New trends have emerged in social media selling.
Today if you take the number of the most popular social networking sites, Facebook will be on the top ranking. It is extensively used by the people all around the world. Facebook is a social networking script i.e., it is an Internet based web page where one can create their own profile describing about themselves along with personal information and interests, you have features like chat, blog, send personal message, add, photographs, videos, etc. Most of us spend majority of our leisure time on such social networking communities like Facebook, Twitter, MySpace, etc mainly to keep in touch with friends and family. Instead of just surfing through such sites have you ever thought of monetizing your fans or followers?