Today, over two billion people are actively using Facebook. That is a third of the world’s entire population. Websites like LinkedIn have 500 million visitors whereas Twitter has 320 daily users. Social media outlets like Snapchat, YouTube, Instagram, Pinterest, and Google+ are rapidly becoming a big part of everyday lives in the 21st century. While many may view this as a disadvantage, such kind of exposure has also given way to an increased number of entrepreneurs under the age of 30.
According to Tata Consultancy Services, 33 percent of all young individuals frequently use social media outlets to hire, communicate, and even network with potential clients and employers. This helps them develop skills from the comfort of their own homes. 62 percent of the studied individuals claimed that social media is the best place for them to find employment and to grow their business organically.
Experts have debated but have come to a conclusion that an entrepreneur must incorporate several different social media platforms to grow online. Numerous social media outlet exposures can lead to increased service views which would then end up bringing more customers to the online and physical stores of any entrepreneur.
Social media has a lot more to do with than just to communicate. Even though society has significantly shifted in terms of technology, it is communication that is the root of it all. Social media, which was essentially only designed for communication purposes, now utilizes that towards influencing people. In comparison to an average internet user, a social media user is 26 percent more likely to voice political opinions, 19 percent more likely to attend sporting events, and 44 percent more likely to share their opinions on TV shows.
There are two types of schools of thoughts, one strongly favors the use of social media for product promotion as it believes that it is an inexpensive mode of doing business whereas the other strongly believes that it is nothing but a colossal waste of time. Keeping both of the ideologies in mind, I believe we must find middle ground. While social media is a great outlet for small businesses with limited funds to grow, one must not completely be reliant on it. The end game should always be to open locations and to start doing business with customers face-to-face which is better than any form of online interaction.
While most people tend to look at the negative side of what the social media can do, and it can do a lot, we cannot ignore that it does equally good as well. Millions of small business owners all over the world have been given an opportunity to start online stores while they do not have the funds to open physical ones. It gives them the kind of exposure they need to one day open a location of their own without going deep in debt.
There are many entrepreneurs still unaware of all that social media has to offer to their businesses. Social media exposure can lead entrepreneurs onto the right path where they bypass all boundaries that markets with leading competition has to offer. Once these small businesses have access to the same tools that big businesses have to grow, they will play on the same field.
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