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BMT 203: Social Media In The Business World

1051 Words5 Pages

Social Media in the Business World
Tori Powers
Wor-Wic Community College
Author Note BMT 203 Kimi Lichty October 27, 2014

Abstract Social media allows companies and their clients to communicate directly and frequently, forming strong relationships and even allowing them to collaborate on projects. Up until now, social media has not been a necessity for businesses.

One of the world's leading thinkers on social media and co-founder of the Altimeter Group, a research-based advisory firm in San Mateo, California, predicts that companies that do not get on the social media bandwagon within three to five years-will not survive. It's not an exaggeration to say social media is transforming every aspect of business. The change is the brink of a new social media ecosystem: …show more content…

"We asked ourselves was there a way of creating a better product that was more customizable to the consumer's taste? Once we'd gone down that path, all the social media aspects came in. If a consumer creates a new product, it has to be saved in a database. It has to have a new name. Then we have to figure out how to sell it to other consumers. Really, social media is part of the fundamentals of the product." In fact, Kidron and his team have a cradle-to-grave social media strategy for the 4food burger.

Social media technology has helped 4food cater to a range of tastes that would be unthinkable in a traditional restaurant. "It's how we communicate. New companies will have social media in their DNA. Some will do it badly, some will not be quite right, and some will change the way things are done. The most important thing is to make sure that social media has a unique purpose and is not just an adjunct or gimmick." Building a new enterprise from the ground up using social media is much simpler than reconstructing it into an older

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