1. Social Media on the Internet affects our Economy 1
Social Media on the Internet affects our Economy
Shannon Chambers
Full Sail University

2. Social Media on the Internet affects our Economy 2
Statistics show that 32,7% of the world population were using the Internet in 2012
compared to the 0.4% that were using it in 1995 (Geho & Dargelo (2012). The history of
marketing dates back a long way but most of it dates back to the last decade. The
development of social networks such as Twitter, Facebook, and Pinterest, has enabled
social interactions throughout the world by creating more jobs, new ways for
collaboration, and an increase in creativity and entrepreneurship.
The first benefit that social media on the Internet has had on our economy is a
high increase in employment. In 2011 there were 155 social-media related jobs offered on
Monster compared to the 88 that were offered the previous year (Li, 2011). Bloggers,
social media specialist, public relations brand managers, online community manager, and
social media marketing managers are among the topped ranked social media jobs offered
by companies in the last few years (Payton, 2012). The virtual world is constantly
transforming and the explosion of social media is allowing businesses to offer more jobs.
Another benefit social media on the Internet has had on our economy is greater
flexibility through telecommunication. Businesses and people (consumers) are able to
connect together throughout the world by using the Internet, opening new ways for
collaboration and discussion. According to Bennett (2013), “89% of marketers said that
social media has generated more exposure for their businesses.” Due to the amount of
people that now have access to the Internet, the development of social networks has been
growing faster in the last few years. Social media has become a major instrument for
company’s to use.

3. Social Media on the Internet affects our Economy 3
Finally, social media on the Internet has created an expansion of entrepreneurship
in our economy. Its relatively low cost has allowed entrepreneurs and small business
owners to market their products, brands, and services on the Internet. Entrepreneurs use
social media to create brand awareness around their values, benefits, and advantages.
Today’s job market has been tough but our society has begun to thrive on social
media in the business world. The Internets continuous growth has showed rapid growth
on the global economy. According to North (2011), “ Social media have created a
participation culture. We no longer merely watch and consume culture. We created,
share, and interact with it.” Social media on the Internet has had a beneficial impact on
the economic based on high growth in employment, flexibility through
telecommunication, and the expansion in creativity and entrepreneurship.

4. Social Media on the Internet affects our Economy 4
References
Bennett, S. (2013, June 11). Facts, figures, and statistics-the marketing benefits of social
media. Retrieved from http://www.mediabistro.com/alltwitter/marketing-benefits-social-
media_b44694
Geho, P., & Dangelo, J. (2012). The evolution of social media as a marketing tool for
entrepreneurs. Entrepreneurial Executive, 17, Retrieved from
http://www.questia.com/library/1G1-294371186/the-evolution-of-social-media-as-a-
marketing-tool
Li, S. (2011, September 28). Employers are liking-and hiring-social media workers. Los
Angeles Times. Retrieved from http://articles.latimes.com/2011/sep/28/business/la-fi-
social-media-jobs-20110929
North, K. (2011, October 7). Steve jobs and the rise of social media. CNN Opinion.
Retrieved from http://www.cnn.com/2011/10/07/opinion/jobs-social-media
Payton, S. (2012, February 21). Retrieved from http://smallbiztrends.com/2012/02/where-
social-media-jobs-are.html