Unlocking Business Through Socialized New Media

While people are preparing for an immiment and final conclusion of the world we are living in, social media is getting to the most flourishing time since its birth. Here let’s take a quick look at how it is impacting modern business. In China, new media has become the most powerful media with the fastest growing speed and influence historically. According to the lately published Report of New Media in China 2012 Blue Book, China, the most influential economy with the most Internet population has gained the largest number of micro-blog users and mobile users in the world. New media and the reality are experiencing a deeper convergence and become a new strength promoting the development of society. And socialization has become the most significant feature of new media. In China, e-business based on new media has developed rapidly. On Nov 6th, in Shanghai, China, McKinsey Global Institute issued a report which stated that related social network technology will generate up to 1.3 trillion USD. Seven years ago, people surfed the net for shopping, email and search. Now social media is representing the Internet and has become a social, economic and cultural phenomenon worldwide. Social technologies include a broad range of applications that can be used both by consumers and enterprises. When the public users trying to find their new friends and build their new virtual world online, businessmen are building their public relations and billboards everywhere. For the top 500 companies, China may not be the first target market for social marketing but always a most important and the biggest market. Enterprises have developed business since social media can spread everything quickly. In 2010, Smart fortwo, cooperated brand with Mercedes Benz and Swatch, launched a group-buying event for the first time through Tmall, the most popular B2C e-business platform owned by Alibaba Group. This group-buying activity has made a record of selling 55 cars in 6 minutes while before this event there was only one car sold per day. In May of 2011, Volkswagen also launched an online event called "designed by you". By the end of April, 2012, the registered participants reached to 126,000 and Volkswagen earned a growing market share from 16.8% in 2010 to 18.5% in 2011. Increased e-business suggested a maturity of the application of new media, said the experts. Accordingly, industry analysts said the social network technology would benefit those industries and companies which digitally provide products and experience to the knowledge-based workers who are highly dependent on brand awareness, because they need to maintain a strong reputation in order to establish credibility and consumer confidence. (To be continued)

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