Recommendations for Social Media Activities to Positively Influence the Economic Factors

Abstract

Social Media has become an important part of people life today, all over the world. The number of social media users has grown rapidly during last decade and are projected to keep growing. In this article the statistics concerning social media usage and the global characteristics of this phenomenon were presented. According to researchers, the number of social media users will exceed 3.02 Billion by 2019. Such a huge number of active users, have a strong influence on various economic areas. Social media has changed, the way companies carry out marketing and branding activities, the flow of information or news in the global scenario, international trade, public awareness, transparency of government or public administration, employability or talent acquisition etc. These socio-economic or micro-economic factors inevitably influence the economic factors of each country. In this article, the different aspects of growing number of social media users were analysed. Also, we recommend a set of guidelines for individuals, businesses and government which would positively impact the efficiency of social media usage. These recommendations, brings about a balance between the social, personal and professional aspects of individuals. For businesses and governments, they yield a better connectivity with the citizens / customers. A combination of both these outputs results in positive influence on economic factors.