The concept - Social media is information content created by people using highly accessible and scalable publishing technologies. At its most basic sense, social media is a shift in how people discover, read and share news, information and content.
It's a fusion of sociology and technology, transforming monologue (one to many) into dialog (many to many) and is the democratization of information, transforming people from content readers into publishers.
Social media has become extremely popular because it allows people to connect in the online world to form relationships for personal and business. Businesses also refer to social media as user-generated content (UGC) or consumer-generated media (CGM). Its the intersection where commerce and common interest meet. Today anyone can create anything and share it instantly at lower cost.
However, the primary objective of social media/networks are to communicate and relate with friends, colleagues, or, in general, people. Because of its popularity and lower cost, it is now seen as a tool for to grow business. And companies are constantly trying to find opportunities that these technologies can bring. Today Social Media is becoming an effective tool of communication - PR and Advertising. I remember few days back somebody mailed me asking if the Soc Med is "Public Relation" or "Advertising", I believe its is the cusp of both. Social Media has a larger base, reach and total penetration than the traditional PR methods.
For most of the social media, the platforms are still free. Today Blogging can be much more effective than traditional media. If you can create interesting content (videos, useful articles, remarkable statistics etc.), people will want to spread that among their networks and write about your information.
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