Over the past week, we have been looking into a few different online resources for keeping up to date with the newest trends in social media. We were to browse through Mashable, Social Media Explorer, as well as, TechCrunch. We had to spend some of our time finding different stories that we found interesting on each site and discuss the impact that story has on the world of business. The plan of this blog is to analyze the different articles and express my views on each one, relating to the above information. The three articles I chose were ‘Why It Takes So Long to Restore Power in New York After Sandy’ on Mashable; ‘The Economics of Bad Outreach’ on Social Media Explorer and ‘Twitter Releases Number Related To Hurricane Sandy: More then 20M Tweets Sent During its Peak’ on TechCrunch.
The first article I am going to talk about is ‘Why It Takes So Long to Restore Power in New York After Sandy’ posted on November 2nd, 2012 by Lorenzo Franceschi-Bicchierai. This story discusses the large impact Hurricane Sandy had on New York City, which includes leaving the city without power for days. Everyone is asking the question: Why is it taking so long to restore power? and there is one simple answer. The entire electrical
grid was damaged, Sandy was one of the most severe storms the Northeast has ever seen, knocking down countless amounts of trees and power lines and flooding many areas. This storm clearly wasn’t going unnoticed, leaving approximately 930 000 people without power for days. Many things are discussed that deal with the fixing of the issues, as well as ways to avoid this happening again, this may include a waterproof system and no cables that are easily exposed to water.
In my opinion, this situation has a huge impact on the world of business. The article mentioned how 1600 external contractors were hired to conduct repairs and inspections. Although this isn’t a good thing to happen to a city, there are positives on the business scale because now many people who don’t currently have a job, are given the opportunity to work. Insurance companies would also be getting a lot of business from a situation like this.
The second article I am going to talk about is ‘The Economics of Bad Outreach’ posted on November 1st, 2012 by Mark Smiciklas. This article analyzes whether or not a lazy approach has an impact on business value.
Details are discussed about if a lazy approach is taken then there could be a potential loss of revenue opportunities and when there is no care or effort shown, that could potentially lead to a greater service problem. Mentioning names negatively in a pitch could also reflect poorly back on you, which could decrease the value and trust people have in your brand. This article also discusses how a company could avoid these things in their outreach; getting information on the brand, following there stories from a few months back and get as many details as possible before throwing a pitch.
This type of situation, as discussed above, could be a huge economic pitfall for a business. It is very important for companies to be well informed of every aspect that they are pitching. If one thing goes wrong, or something is not researched it could cause much larger problems then companies might want. Trust could be lost from consumers, which means revenue decreases. Other potential opportunities for a business could be destroyed, and once word of mouth gets around, which these days happens quite fast, a businesses success can quickly be ruined. It is important for a company to cover all grounds and make sure their outreach is well thought through and researched.
The third article I will be discussing is called ‘Twitter Releases Numbers Related To Hurricane Sandy: More then 20M Tweets Sent During its Peak’ posted on November 2nd, 2012 and written by Drew Olanoff. This story mentions how through the devastating times of Hurricane Sandy, millions of people turned to Twitter to talk about what they were going through, replacing the landlines and cell phones that weren’t working.
Over 20 millions tweets were sent out from October 27th through November 1st, between Saturday Oct 27 and Tuesday Oct 30, tweets mentioning the Red Cross increased 30x, and all of this shows that people weren’t only tweeting their own information but they were also searching for answers, help and taking in information.
Twitter is becoming more involved with the business world everyday. This event is a perfect example of how important social media tools are becoming for businesses to get information out into the public. This article proves that more and more statistics are showing Twitter, along with Facebook and other social media sites are becoming the number one place for people to discuss their concerns and post their problems. Also, many businesses have caught onto this trend of how many users are on Twitter and are beginning to use social media for advertising. This is such a smart thing to do because of how many people it reaches at no cost.
Each of these articles have their own personal effect on businesses; lots of job opportunities and work available for people around the New York area, where Hurricane Sandy hit. The potential success or failure for a business that is pitching their idea to the public, along with the incredible amount of people using Twitter and other social media sites to get their information and opinions out.