It has made it possible to make significant changes in how a company manages many aspects. Guha et al. (2018) prove that the application of social media to finance, human resources and marketing have reframed assessment and data gathering. It has made it possible to deliver services and products that are focused on clients with the help of social media. Social media can be used to enhance businesses’ competitive advantage by allowing them to have a direct communication channel with customers.
Social media can be used to develop innovative marketing strategies through word-of mouth, collective thinking and behavioral traits. Guha and colleagues. According to Guha et al. (2018), most businesses use social media for transforming their marketing strategies and creating an online presence. Social media marketing is a faster, more cost-effective, and quicker alternative to traditional methods. Social media allows for new data collection methods and the integration of consumer contacts to deliver client-specific solutions.
Internal obstacles must be removed before social media can become a useful communication tool within an organization. Nisar, et. al. Nisar et al. (2019) state that social media can’t deliver communication benefits if there are social, cognitive and human barriers to knowledge exchange. In the absence of complex structures and productive management of related social context information, social media won’t have any effect on corporate communication.
Social media is becoming more important for businesses as it allows them to enhance internal and external communications. Information is key to competitive edge. The use of social media to communicate information within an organisation, as well as with its customers and market targets, is a great way to do this. But, this tool’s effectiveness depends on its organizational structure. The use of social media for business information sharing and access is crucial.