The benefits are clear for businesses that are using social media. Whether companies focus on B2B or B2C, all can use the marketing strategy to their advantage. However, recent research from the International Data Corporation* found B2C companies are ahead of B2B firms when it come to social media integration.
According to the survey, retailers are leading the way in social media adoption. This strategy gives businesses the opportunity to increase awareness of products and services among customers. Marketing degree
students can learn that when social media is done correctly, it can be part of a cost-efficient advertising plan.
"Industries that are consumer focused such as communications, media, and recreational services are spending a larger percentage of their IT budget on social media as it is easy for them to make the shift to adopting the way consumers communicate," said Eileen Smith, program manager, global technology and industry research organization at IDC.
Online retailers can use social media platforms to usher in better communication with customers. According to Time magazine**, another benefit of using social media in the retail world is that engaging with customers on social platforms will allow these businesses to receive payments in a time-efficient manner.