Some impacts of social media include

- cheapness (once a campaign is launched, its distribution is "free"; dealing with a tweet is cheaper than a call to a customer centre)

- viral nature (uncontrollable; once information is out there, it is common knowledge; no privacy or confidentiality)

- speed (real time, eg Qantas Flight QF32, Michael Jackson's death; put a question out there and get feedback within minutes;

- data, etc (taps into a great wealth of data, information and knowledge)

- convenience (90% of consumer believe it saves them time shopping; 40% use the web for competitive shopping; home-bound people use the Internet for communications, including contact with friends & relatives, shopping, health care, etc)

 

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