Definition:

The term “social media” refers to forms of electronic communication through which users create online communities or networks to share information, ideas, personal messages, and other content.

The Stage

This Best Practice Report focuses on how social media has changed the way consumers use the Internet. Whereas, previously, they would simply log on to buy products or services, consumers now use social media platforms-such as Twitter, Facebook or LinkedIn-to learn about these products and services, as well as to share information about them, recommend them or even criticise them. This new consumer behaviour can have a significant impact on a company’s sales, reputation and even survival. Yet, many business leaders avoid or ignore this form of media because they don’t understand what it is, the various forms it can take or how to engage with it and learn from it.

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