The Fate Of Location

      Businesses and their decisions will no longer have to rely on location as a key component. Smaller business will be able to compete at the same level of bigger businesses. Social media has played a huge role with the upbringing of small businesses. I have specifically noticed small boutiques are using Instagram, Facebook and Twitter to not only reach out to their demographic, but also spread their business to consumers who didn’t even know about them. They are constantly posting new merchandise, their locations, store details and special sales/clearances. The public is able to respond, put items on hold, interact with employees, ask questions and even purchase items online. This strategy not only markets new products, but also boosts sales and creates a closer connection with consumers. Small businesses have boomed with the help of social media. Some companies even offer a percentage off of your purchase if you follow their page. In this situation, both the producer and the consumer are gaining incentives. The producer (small business) gains popularity and ultimately more sales. If one person follows and hears about the sale, then they may tell a friend who may tell another and so on. Every time someone creates a like or expression, more data is being generated and shared. The consumer also benefits because they are keeping up with the latest items that the store is displaying as well as receiving a discount. Location is not a problem because through social media, businesses are able to connect with buyers and are able to ship their items to the appropriate destination. Businesses benefit greatly from the use of social media, if not better than through regular marketing. As Forbes magazine once stated, “Social has become the new ‘production line’ for business... Social businesses that embrace this phenomenon are able to build expertise by making knowledge more accessible; fuel innovation by crowd sourcing ideas; improve productivity with better collaboration; and expand customer sales, loyalty and advocacy by providing exceptional digital experiences.” I could not have worded that any better myself!

        The entertainment industry has various dynamics with smaller corporations. It takes small businesses a lot longer to make there way into bigger entertainment industries. YouTube, a site that hosts user-generated videos, was quickly becoming a phenomenon in the entertainment industry. When it first came out, it started off slow and transformed into a successful business, which was later bought out by Google. However, not all small entertainment businesses have success stories. It is more difficult in the entertainment industry for smaller corporations to compete with larger ones. When it comes to businesses, I believe that social media is more effective than media such as television; however, it also heavily depends on the demographics. It is crazy how technological innovations have the power to change the physical and social world.

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Hebner, S. (2014, January 27). Forbes. Retrieved from Three Ways Social Networking Leads

To Better Business: http://www.forbes.com/sites/ibm/2014/01/27/three-ways-

social-networking-leads-to-better-business/