Social media is one of the fastest growing internet phenomenons over the last few years and with such sites as Facebook and YouTube being so popular the reasons why are quite simple.  Particularly among teenagers and students, these websites dominate their lives and provide them with hours of enjoyment in which they sit down all day and delve deeper into the vast content these sites share.

The thing with these social media sites are that they often interlink with one another.  Often people post videos on Facebook which then are links from sites such as YouTube, Flikr or other sources such as news sites.  Social media can be described as a means by which people can communicate, share and exchange content between one another.  However, this doesn’t just have to be between peers and colleagues.  Businesses see social media as an opportunity to engage with and connect with their customers in order to build greater relationships and gain knowledge about one another.  Brands create FaceBook and MySpace pages in order to allow for their customers to post comments about what they like and what they don’t.  This is a great market research tool as the cost is either next to nothing, or indeed nothing.  It is also non invasive and allows the customer to decide when and how much feedback to give unlike other market research methods such paper questionnaires or telephone calls.

So not only do social media sites allow for friends to stay in contact with each other and share media content, but it is also a valuable source for businesses to communicate and gain deeper understanding about their customer base.

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