All that aside, I want to share my thoughts on why Social Media will extend the power of public opinion far beyond communication between businesses. Below I have listed 3 marketing words, all of which are vital to the marketing process.
All of these things are connected and dependent upon one another in Marketing. There is however, one without which, all would be meaningless. I'll give you a hint, DATA! The information gathered during market research is what holds a marketing plan together. Data is knowledge and knowledge is power, as a marketer and as a consumer. Within the past 2 decades large increases in technology have continuously reshaped the ways in which Marketers gather, store, and analyze data. Social Media are now playing a huge role in how marketing messages are sent, received, and analyzed by businesses and their consumers. This new medium has given consumers knowledge, and therefore great power over how corporations are perceived externally. Social Media have also changed the speed at which marketers send and receive information. The focus of this blog is to discuss the cause and effect that new technology has on both internal operating/networking procedures for businesses as well as external communication/networking models for consumers. One of the reasons why this topic is so exciting and "talkable", is because regular people like you and me now have more power and influence over how businesses function in a progressive way that benefits both parties mutually. This is also beneficial for businesses because marketers are now able to serve consumers in a way that promotes continuous process and technological improvement. Social Media have given average people a forum that will eventually solve problems far beyond the business world. The power of data and the ways in which it is utilized by businesses as well as consumers will continue to shape the ways in which humans communicate and solve problems mutually. This type of authentic communication forum has the capability to educate and empower consumers and businesses across the globe. With this power comes great opportunity for all participants to not only change the way corporations do business but also how everyone can utilize data without walls to promote worldwide change without borders.