<p>Social media is a collective term for websites and applications that focus on communication, community-based input, interaction, content-sharing and collaboration.</p><p><br></p><p>People use social media to stay in touch and interact with friends, family and various communities. Businesses use social applications to market and promote their products and track customer concerns.</p><p><br></p><p>Business-to-consumer websites include social components, such as comment fields for users. Various tools help businesses track, measure and analyze the attention the company gets from social media, including brand perception and customer insight.</p><p><br></p><p>Social media has enormous traction globally. Mobile applications make these platforms easily accessible. Some popular examples of general social media platforms include Twitter, Facebook and LinkedIn.</p><p><br></p><p>What are the business applications of social media?</p><p>In business, social media is used to market products, promote brands, connect to customers and foster new business. As a communication platform, social media promotes customer feedback and makes it easy for customers to share their experiences with a company. Businesses can respond quickly to positive and negative feedback, address customer problems and maintain or rebuild customer confidence.</p><p><br></p><p>Social media is also used for crowdsourcing. That's the practice of using social networking to gather knowledge, goods or services. Companies use crowdsourcing to get ideas from employees, customers and the general public for improving products or developing future products or services.</p>