Recommendations for Social Media Activities to Positively Influence the Economic Factors

Yash Chawla, Grzegorz Chodak, Petra Maresova, Pavel Jedlicka, Ivan Soukal
2018 Proceedings of the international scientific conference Hradec Economic Days 2018 part I.   unpublished
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.
more » ... al 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. The main purpose of this article is to recommend important points that should be applied by social media users, i.e individuals, businesses / firms & government, for positively influencing the economic factors. The growth of internet through mobile devices and the vast usage of social networking sites by users around the world have direct or indirect effect on various economic factors. The recommendations for activities stated in this article can positively influence these economic factors, resulting in GDP growth of the country. The structure of the article is as follows. In the first section, current statistics concerning Internet and social media usage are shown. There-after the mutual relations between social media and economy are analysed. In the section after that, recommendations, for effective usage of social media, are enlisted for individuals, businesses and government. The last section includes short conclusions.
doi:10.36689/uhk/hed/2018-01-032 fatcat:obphihomnncixgdozz4ddf2lmq