Social Media in Today's World, Introduction

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She argues that small business owners need to become better-educated about what social media is, how it works, and why it is so appealing to consumers. By understanding the nature of social media's success, perhaps through the Kietzmann honeycomb framework, the problem of small company marketing disadvantage can be overcome by using social media.

Smith and Zook (2011) argue that companies must make social media a centerpiece of their marketing communications strategies. Because social media is so revolutionary with respect to its impact on communication, companies need not only to participate is social media but they have to. Large competitors will also be using social media, so there may not be much source of competitive advantage from having a social media presence, but small business owners can gain advantage from superior use of social media.

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As Jack Welch once pointed out, the ability to get things done faster than the competition is a source of competitive advantage. This highlights one advantage of social media for small businesses -- the decision makers are the ones receiving the feedback, so they can act on that feedback immediately.

Small companies face high marketing costs when dealing with standard advertising channels. Social media can be a solution to this problem, since the costs are lower. Social media, however, is also a threat to small business, because the message control is not as good as with conventional marketing. It is important, however, for small businesses to understand how social media affects them in order to create the optimal social media strategies.

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