There was a great article on Mashable recently about the 4 Ways Social Media is Changing Business. Here’s an excerpt:
“In this new era of social media, companies are asked to be increasingly transparent and personal. Of course, traditional advertising and press releases will still have their place, but social sites such as Twitter and Facebook allow a whole new type of communication to take place that has previously been unknown to most businesses. Possibly more important for businesses than getting a large number of followers on social media sites, is following through on the opportunity to forge more genuine and direct connections with their customers.
Businesses who choose not to adapt to the new culture will be at an increasing disadvantage, as their customers slowly build personal relationships with their competitors. We are now in the age of open communication, engaged dialogue, and transparency, and business success may now have less to do with the size of ad budgets, but on the quality of interactions with customers.”
You can read the full article here, at Mashable.