Social-media is one of the technologies that have greatly revolutionized the way business is operated…
The Positive & Negative Impact of Digital Media on Business
Today, digital-media is no longer confined to a television, radio-show, newspapers or advertisement like in the past. Instead, media can be created from text to videos and sounds and after saved or shared electronically from your computer or mobile-devices. In fact, this type of digital-transmission has made a powerful positive impact on the way businesses and people communicate today but it also has some negative-effects which all be explained below.
Positive Impacts of Digital-Media on Business:
- Faster information exchange between businesses and customers: with digital-media, companies can easily get their information out to the public quickly instead of printing inserts for newspapers or using television-advertisements like in the past. In fact, today companies can easily lest their customers know about an exciting promotion through the use of emails, social-media, websites and even internet-ads which are very convenient and cheaper.
- Wider reach to customers: with improved digital-media, businesses can easily reach more customers than ever before. For example, a simple promotion featuring a giveaway or freebies can help businesses get hundred-to-thousands of Facebook fans coupled with email-subscribers and text-message subscribers that businesses can send messages with just a touch of a button in case there is a new promotion.
- Integration of new technologies into businesses: Using digital-media actually implies implementing new technologies for creation and supporting the media. In fact, new technologies can be an asset for businesses like adopting Smartphones and laptops which can be used for digital-media and can even influence other areas of your business. Additionally, adopting mobile-technology into your business will help to make communication easier among employees thus increasing of working efficiency.
- It offers different options of advertisement: with digital-media, businesses now have many options to choose from when it comes to advertising their businesses. In fact, companies can easily create media that is a combination of visual, audio, text and interactive-media and after share or advertise this information on the internet using different platforms. The wider options to choose from help businesses to reach a larger audience with differentiated preferences.
- Improved customer support by businesses: today, digital-media has actually made it very easy for businesses to contact and provide great support services to their customers. For example, some business use social-media pages to provide customer-support while other use automated chat software to provide their customers with real-time feedback. In fact, customer-support is very essential for business growth and that’s why most businesses today have integrated digital-media into their support-sections in-order to increase on the efficiency of their services.
- Digital media boosts productivity and flexibility amongst workers: today, digital-media is actually changing the way work is done by simply boosting productivity and enhancing flexibility amongst workers/employees leading to better provision of services by companies. In fact, new digital communication technologies are providing workers with different ways of getting work done no matter their location or time of the day. All in all, today many jobs can be done from anywhere at any time as long as employees have access to digital-data, high speed internet and better messaging, audio and video technology.
- It allows businesses to outsource new skills: with digital-media, companies can easily out-source to experienced employees in-order to get certain tasks done. In fact, this allows talent to flow in and out of organizations thus boosting agility, productivity and competitiveness with companies. On the other hand, as more work gets done outside the traditional employment structure, organizations will have to become more flexible, collaborative, interlinked and permeable in-order to allow tasks to be completed by the most capable talent whether they are a full- or part-time employee, freelancer or an employee of an outsourcer.
- It’s a source of learning-materials and problem-solving ideas for businesses: with the use of digital-media, businesses can easily learn new strategies on how to promote their products and online-courses can be undertaken by employees’ in order to enhance on their knowledge on certain skills required to accomplish some tasks within a company. On the other hand, businesses can also get information on how to adapt to changing business-environments and even get information about social and cultural behavior which gives them an opportunity to succeed in a competitive business world.
Negative Impacts of Digital-Media on Business:
- Digital-media can easily spread bad information about a company: Although digital-media is great communications-tool, it can also spread bad information about a business very fast. For example, a bad faux video or picture taken with a Smartphone and shared on Facebook can go viral within minutes leaving your business’s reputation damaged.
- Increased Cybercrime with businesses: with the use of digital-media, businesses can easily lose their confidential information to malicious employees and hackers. Additionally, hackers can even steal company funds digitally and there have also been situations where company-websites have been hacked and shut-down hence affecting their performance.
- Digital-Media technology integration is expensive: some new digital technologies are very expensive to implement into a company. For example, implementing a new technology into a company will require training the employees and purchasing new equipment which can actually be costly for some businesses most especially startups.
- Increased competition within a business environment: with the increased use of digital-media today, there has been an increase in competition within the business environment making it very difficult for smaller businesses and startups to grow or compete with larger corporations. On the hand, competing companies may manipulate digital-media elements in-order to create negative online publicity towards other companies in the same industry.
- Ever-changing technologies: Today, digital-media technologies are always changing and this implies that companies should always have the required resources to implement the new-technologies. However, this is very costly and it’s only a few big corporations that may afford new-technologies thus leaving small-businesses and startups behind or even kicking them out of the market.