Today, social media has become a part of our life. In addition to people using social media to communicate with each other, to meet entertainment needs, and so on, there are some effects that extend. In various social media, information spreads at an incredible speed, enabling people to learn more quickly and effectively about what is happening in other countries and places around the world. With the rapid development of social media technology, social media has formed a huge industrial group, which has a great impact on social and economic life.
What is social media?
Social media is a tool and platform for people to share their opinions, insights, experiences and opinions with each other. The emergence of new media has actually led to a high degree of integration, or convergence between social and media. Out of this convergence comes a new phenomenon, is social media. Some of the most popular social media at the moment are Facebook, Twitter, Instagram, YouTube, WeChat, and so on. In the old days, social interaction as we know it was face-to-face. And now it is common to see a family eating at the same table without any communication, just bowing their heads silently playing mobile phones. Social networking in the new era is no longer a simple face-to-face social interaction, but an online social interaction with people at the other end through mobile media or mobile media. For example, Twitter is where we are free to post what we want and that includes words, pictures and videos. People can interact with me by leaving comments under what I post. Of course, people can get the latest information from Twitter and leave their opinions in the first place. And people can find things and people by searching for tags. If the network does not give people more initiative, social media will lose the mass base and technical support. Without an interactive model, people’s opinions will not be heard and demand will be suppressed.
The socio-economic impact of social media
As an integral part of the whole social system, the communication system is closely related to other social systems. In social systems, the relationship between the media and the economic system is particularly close. In modern society, social media has become an important part of the communication system (Fujun L & Xin L, 2019). While bringing disruptive changes to the field of social communication, social media has also brought a very profound impact on the field of social economy. In this era of rapid dissemination of information, many enterprises and organizations pass the product information to the public through various media, but also through the media to obtain the information of the consumer market. However, social media is faster, richer, and more interactive in terms of information content. With the popularization and wide application of the Internet, more and more economic activities begin to be carried out on the Internet, the most representative of which is online shopping. Social media and shopping platform clients have become the best choice for people to shop online. The emergence of social media and the popularization and wide application of the Internet bring opportunities to online shopping, which brings opportunities to the economic development of online shopping-related industries such as e-commerce and logistics. The most representative ones are e-commerce and logistics services. E-commerce is the use of social media to achieve consumer online shopping, online electronic payment, and other economic activities. The economic benefits generated by social media are mainly based on the openness and interactivity of the social media environment, and the rapid spread of economic information increases the interactivity of information. Moreover, social media drives experiential services and investment opportunities. The Internet enhances the consumer shopping experience, and social media brings interaction. Consumers can share interactive experiences such as eating in a certain restaurant or watching movies with other consumers. The sharing of shopping experience can make products and services with good word of mouth attract more consumers. The first consumer and enterprises, consumers and consumers can interact and share anytime and anywhere, good service, good sharing, can make a good brand to win more consumers. The second product price is clear, who wins more consumers, who are willing to pay for better experience service, the enterprise will win the market. The little red book app, for example, allows consumers to write reviews of a restaurant or store, and people can comment in the posts of bloggers, who can infer whether they are willing to pay for this service.
The growth of social media has led to the growth of other related industries
The rapid development of the social media industry has driven the development of new media derivative industries and other related industries, such as network construction, website maintenance, cultural creativity, content provision, logistics, technical services, and other industries. At the same time, social media and traditional media are converging. The traditional content production mode and communication channel have been broken, and the new news production mechanism is being conceived and formed (Fujun L & Xin L, 2019). The rapid growth of the social media industry has also driven the development of new media monitoring and analysis and new media services.
Social media has influenced every aspect of economic life and has become an important economic driver. With the increasing development and maturity of new media technology, social media is favored by more and more capital. Investment companies and commercial institutions will strengthen their investment in new media, which will further accelerate the development of social media industry, and social media industry will occupy a greater proportion in the social economy (Fujun L & Xin L, 2019). At the same time, with social media as the medium for the dissemination of economic information, the cost of people releasing and spreading information has been greatly reduced, and the efficiency of data processing has been greatly improved. This brings convenience to the development of social media economy and promotes the development of social media economy towards informatization and digitalization, thus promoting the transformation of social economy.
Fujun L, Xin L. (2019) Social commerce and social media: behaviors in the new. service economy. Information & Management, Vol.56, No.1, pp.141-142. Retrieved from https://www-sciencedirect-com.ezproxy.library.uvic.ca/science/article/pii/S0378720619300692?via%3Dihub