Social media-business transparency and engagement

Reference no: EM13327831

Social media is helping to forge a new era in business transparency and engagement, creating both new challenges and opportunities. Gone are the days when companies could rely on carefully crafted press releases or flashy ad campaigns to communicate with their customers, often in an attempt to convince people that their products are the best in the field. In the age of social media, the rules have changed radically, and people today demand a more honest and direct relationship with the companies with which they do business.

Companies now face a clear choice: wall themselves in and become increasingly controlled and hidden, or use social media and other means to reveal their human side, welcome transparency, and forge new relationships with their customers. The old game is undoubtedly over, and the question now is, “what can businesses do to transition and succeed in this new era?”

Reference no: EM13327831

Questions Cloud

Calculate the coefficient of variation for each alternative : Coefficient of variation Metal Manufacturing has isolated four alternatives for meeting its need for increased production capacity. The following table summarizes data gathered relative to each of these alternatives.

Businesses who take social marketing seriously : Businesses who take social marketing seriously and take it as a long term investment are the ones who are getting dividends out of it. Social networking is bending the rules of online marketing and businesses are quick to exploit this tremendous mark..

Determine what will be the value of the house in 7 years : Say that you purchase a house for $150,000 by getting a mortgage for $135,000 and paying a $15,000 down payment. Assume you get a 15-year mortgage with a 6% interest rate.

What is virtual memory : What are character devices and block devices? What is the difference between them? What types of devices are represented by block device files?

Social media-business transparency and engagement : Social media is helping to forge a new era in business transparency and engagement, creating both new challenges and opportunities. Gone are the days when companies could rely on carefully crafted press releases or flashy ad campaigns to communicate ..

What will the monthly payment be of new sports car : You want to buy a new sports car from Muscle Motors for $86,000. The contract is in the form of a 72-month annuity due at a 7.65 percent APR. What will your monthly payment be

Tool intended purely for social engagement : Social media may have begun, as its namesake implies, as a tool intended purely for social engagement, but the commercial value soon became apparent and it has become the marketer’s new best friend too.

Despite the potential fallbacks of social media : Despite the potential fallbacks of social media, it is easy to see why it is increasingly overtaking traditional forms of marketing. Take television commercials for example, they can cost millions;

Calculate the weighted average cost of capital : Calculate the weighted average cost of capital (WACC) for existing capital

User Account

All Pages