Negative Impact of Social Networking

Negative Impact of Social Networking

Social Networking Has a Negative Social Impact

The level of hype regarding social networks continues to reach new heights, with much being said about how these websites and platforms can bring companies and customers together more effectively than any other medium before (Bernoff, Li, 2008). These benefits can easily be attained by other strategies and approaches in place, arguably more effectively than social networks provide. Social networks serve only to distract, not deliver value, and set the foundation for behavior that people would not otherwise not attempt if done in-person.

Social networking's popularity is driven by narcissism and has shown to be an exceptionally expensive waste of time. Studies indicate that tens of billions of dollars a year are lost in productvit8y due to employees being on Facebook, Twitter, and other social networking sites instead of working (Hathi, 2008). The opportunity costs associated with these hours lost however are incalculable, as market windows open and close over time, presenting then taking away significant revenue opportunities with customers. If a business is not vigilant, entirely new opportunities will emerge and disappear. When employees are on social networks they are not paying attention to market conditions or opportunities, and instead of capturing new growth ideas they are updating their status on Facebook, Twitter, Friendfeed or any of the many other social networking sites that steal time (Bennett, Owers, Pitt, Tucker, 2010).

The lack of appreciation for time and its value are what make social networks' drain so highly quantifiable and relevant to any business attempting to stay profitable today (Hathi, 2008). The illusion that social networks somehow accelerate greater sales and service is dangerous because companies invest millions in these strategies only to find less than 5% of their customers actually use them for this purpose (Bennett, Owers, Pitt, Tucker, 2010). The much-promised value of social networks is then an illusion, with benefits that could easily be attained through other means.