Social Media has opened up new channel in Media industry. As the name implies, it is easily accessible by anyone, anywhere and practically can be used for anything (Legal).
Facebook was probably the first to truly capture the space in Social Media. Others like Orkut did not manage to truly capture this phenomenon. Everyone is using Facebook, Corporate class (Facebook page) is using it to interact with consumers. Not only do they run various contests and give away expensive products for free, they also listen to customer complaints and resolve them. Facebook is also used as an Advertising platform which has the potential to reach out to millions of customers. That’s the only source of income for Facebook, as it does not charge any user to create an account.
Every coin has two sides, recent revelation by CobraPost, mentions the negative use of Social Media by IT companies, that help make or break the image of a particular political party, by posting negative comments , fake followers and unprecedented amount of likes over a period of time. An honest user might not be able to distinguish between credible and bogus information that circulates in the whirlpool of Internet. Recently a political leader complained of her account being hacked or phone being misused in her absence. Political leaders have thousands of followers and a negative comment posted by a hacker can cause lot of damages in the society if that message is able to excite communal disharmony.
Facebook is here to stay, despite the challenges in technology, one surely cannot afford to ignore it.