Social Media Affects on Global Markets?

Just as the internet has allowed for world wide communication, Social Media is now in markets all over the world. Although social media is very young in developing countries, global competitors such as China and India are at the forefront in implementing social media into their businesses. Still in its infancy, many large companies have yet to buy into the social media craze. Only a third of companies with revenues of more than $100 million each are using Facebook to connect with customers in local markets around the world, and 43% of all companies, according to a new research from Harris Interactive commissioned by social media marketing firm Buddy Media. Scott Monty, head of social media marketing for Ford Motor Company, stated that, " in the global marketplace, they must target their consumer base where they are live, Social Media." Monty believes that its more important to understand what your potential customers are saying about you, more that what you say about your brand or product. Ford Motors ability to monitor their consumers thoughts in real time, gives them the ability to address problems in a quicker fashion. Thus, giving consumers better satisfaction in resolving issues.



Sources:

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=133184

http://www.dnews.com/social-media-goes-global/article/118726/2/

Best Buy Makes Social Media Work Everyday

Best Buy is one of the most successful companies in the world in in the implementation of  Social Media . Best Buy has created an atmosphere where social media is the norm rather than the exception. By using social media such as blogs, forums  Best Buy has taken customer service to another level.as a way of reaching consumers with the latest products and deal. Social mediums such as: Facebook, Geekblog, IDEAX, Youtube,Ratings and Reviews and Twelpforce on Twitter are all centered on making the customers experience a delight and not a chore.Even the Chief Marketing Officer, Barry Judge has his own blog, which shows the lengths they will go to show the consumer that Best Buy cares about their concerns. Brian Dunn, CEO of Best Buy bought into the potential of social media after using Twitter. Even after having his Twitter account hacked,Dunn stated, " it didn't diminish my enthusiasm. I learned a couple lessons along the way. I can engage for 5 or 10 minutes and get a great sense of what's going on in our stores. But when I encounter someone online who's having a problem, I want to reach out and fix it myself. I did that once early on and suddenly I was inundated by others. I'd set myself up as an answer center, and that's not my job. We'll have more than 1.5 billion customer interactions this year, and we have great processes for helping customers"
If companies could only realize the potential that awaits those the buy into Social Media, they may have the same results as Best Buy.
Sources:
http://www.businessweek.com/magazine/content/10_50/b4207104653437.htm
http://www.bestbuy.com/site/null/Community+Landing/pcmcat191300050013.c?id=pcmcat191300050013

Can Social Media ruin you professional career?

Can Social Media ruin your professional career? That is a question that every employee or potential employee must answer in today's age of instant information. Are mediums such as Facebook, MySpace and Twitter the blame for potentially ruining the career of an employee? With the perverted need to post one's actions to the world on a minute by minute basis, I say no. Individuals must understand that corporations use the same media to evaluate potential employees and monitor current employees. Employees and professional must be aware that any picture or posting is done with the knowledge that, no matter how cute or harmless it may appear, companies can and will use these post to determine whether an individual is worth their investment. I found a very good article on the net that give four simple guideline to protect yourself in this age of Social Media.
1.Think before you post. Is the post worth the price of losing your job? If not, keep it to yourself. If you decide it is worthy of posting, use filters that are available from the website to limit its viewing.
2. Do not complain about your job online. Remember in many cases, employers can see the same thing you do. Most importantly, is the complaint worth your job.
3. You are the face of your company. This is probably the most important guideline. Companies will not allow their brand to be tarnished by improper actions of an employee whether its online or in a social setting. To disregard this guide could lead to a trip to the unemployment office.
4. Always be positive. Employees can be recognized for the positive things they post online as well as the negative. If you enjoy the company you work for, don't be afraid to let people know.
http://www.reputation.com/how_to/how-your-online-reputation-affects-your-professional-career/

Is Social Media here to stay?

If you look at what has become the fastest growing and most used technology known to mankind, one must wonder and ask themselves, where does Social Media go from here? Internet access has created such an ability to buy and trade, meet new people and keep up to the minute with day to day life has change the way we view others and ourselves. TechNews Daily (www.technewsdaily.com/social-media-huge-and here-to-stay)has given us a little glimpse into the monster that social media has become: 1. 1 out every eight couples married in the U.S. in 2009 met through social media. 2. Social media has overtaken porn as the number one activity on the Web.3. If Facebook were a country , it would be the third largest country in the world besides China and India. Websites such as LinkedIn allows opportunity for networking within the business field aiding in the ability to find work in this difficult job market. Youtube has become the second largest search engine in the world. The list of new sites and network seems to grow daily. If we believe this information explosion will just go bang and then die, then we think as they did in the 14th century, that the world was flat and if went far enough, we would just fall off the earth. Social media is here to stay, and we have only scratched the surface.