Question

Explain how Social Media has affected the economy, in your opinion.

Answer 1

Social media has stepped up business. They've learned how to begin investing in digital marketing. They're free to reach new audiences. Brands used to pay a considerable sum of money to advertise on traditional media before the era of social media. Most brands have created the role of manager of social media. Social media managers are well versed in how to reach and engage online consumers. We have special skills to create a new visibility on social media platforms about a business brand. It is a demanding job, as it requires imagination to generate new marketing ideas. This is to catch a curiosity from the customers.

Before the era of social media it was impossible to release new knowledge to consumers. A business had to pay for ads on magazines, radio or television. It was about creating awareness of an enhanced product, or introducing a new product. Today, a company can immediately share information with a global public. A customer can access a brand's social media platforms to learn about his / her goods. We can benefit from reviews written by previous customers about their prices and performance. A individual may interact with the brand via the respective social media pages. We may inquire for their goods or they may complain to request a better service or refund.

A single post, in seconds, will touch a global audience. Because of social media a company moving into new frontiers has become more relaxed. Without a sophisticated marketing strategy it can aim and meet the new users within minutes. The internet made the world a community, and social media platforms allowed the user to communicate with each other.The new phenomenon of social commerce has boosted companies growth. Companies can sell globally directly to consumers without having built up a retail presence. When growth had slowed and consumer spending had plummeted as a result of the financial crisis, new growth was seen as a result of social media growth.