For individuals, social media is used to keep in touch with friends and extended family, network for career opportunities, find people from all over the globe who share a common interest, share content and more. Those who engage in these activities are part of a virtual social network. For businesses, social media is an indispensable tool for finding and engaging with customers, sales, advertising and promotion, gauging trends and offering customer service. Governments and politicians utilize social media to engage with constituents and voters.
Over the last several years, there has been an explosion of growth in popular social media platforms like Facebook, Twitter, Google+, LinkedIn, YouTube, Pinterest, and many others. It's safe to say that the era of social media is just getting started, and the need for social media in business will only become stronger over time. The whole world has seen the impact of the expansion and adoption of social media tactics, and the rising stats speak for themselves.
Periscope is a live video streaming mobile app that was developed by Joe Bernstein and Kayvon Beykpour. The two started the company in February 2014 and later sold it to Twitter for $100 million in March 2015. Four months after its March 2015 relaunch, Periscope said that it had surpassed 10 million accounts and in December the same year, Apple announced Periscope as the app of the year.
Managing social media isn’t a particularly lucrative profession yet, but it does serve a growing need for a lot of businesses. If you keep an eye out for job postings you might be able to nab a job promoting a company or brand on various social media services. A lot of those jobs are independent contractor positions, many of which you can work remotely. If you’ve got a lot of experience with social media beyond just being a user, though, you may be able to get hired to develop social media strategy. Telling businesses how specifically to approach their social media presence would very likely net you a nice income.
Now as a coach, he works with clients to come up with plans to help them reach their goals. “I think a great thing that I am able to do with my coaching is talk to my clients about not the specific plan that is going to work for them but a plan they believe in enough to execute to the best of their abilities. So, we’re not focused on the social media trends. We’re digging deeper and we’re talking about things that will drive them individually,” says Clark.
Whether you're in the fashion business or part of the technology industry, you can find great products to promote on ClickBank. You can also become an Amazon Associate by promoting the products of your choice and earning commission on them. However, instead of spamming your Twitter with promotional links, post honest reviews about the products you're promoting on your blog or on Facebook. Make sure you mention what you like and don't like about the product. When your followers begin to look forward to your reviews, you'll earn quick money.
According to the Pew Research Center, a majority of Americans at least occasionally receive news from social media.  Because of algorithms on social media which filter and display news content which are likely to match their users’ political preferences, a potential impact of receiving news from social media includes an increase in political polarization due to selective exposure.  Political polarization refers to when an individual's stance on a topic is more likely to be strictly defined by their identification with a specific political party or ideology than on other factors. Selective exposure occurs when an individual favors information which supports their beliefs and avoids information which conflicts with their beliefs. A study by Hayat and Samuel-Azran conducted during the 2016 U.S. presidential election observed an “echo chamber” effect of selective exposure among 27,811 Twitter users following the content of cable news shows.  The Twitter users observed in the study were found to have little interaction with users and content whose beliefs were different from their own, possibly heightening polarization effects. 
Years later, another entry point into entrepreneurship for Clark was in 2016 when he decided to quit his job. It was then that he decided to take the skills he had been building and couple them with his influence online to make money on social media. “I was determined that I was going to make all of my monthly income coaching. But, I wasn’t quite up to par in terms of my sales page and how I structured my lessons and how I marketed myself. So, it was hard to get clients. I had to take some time and realize, “hey, I am incredibly broke…maybe I should change some things.”
On social media, consumers are exposed to purchasing practices though peer sent, written messages. Learning through social media includes strategies such as "modeling, reinforcement, and social interaction mechanisms" all at the same time. A study, that focused on peer communication through social media, has revealed that communication between peers through social media is positively related to purchase intentions in a couple ways. First, is a direct impact through conformity. Second, is an indirect impact by stressing product engagement. Lastly, from this study, we learned that consumer-related communication between peers on social media has a positive relationship with product engagement. 
Social media content is generated through social media interactions done by the users through the site. There has always been a huge debate on the ownership of the content on social media platforms because it is generated by the users and hosted by the company. Added to this is the danger to security of information, which can be leaked to third parties with economic interests in the platform, or parasites who comb the data for their own databases. The author of Social Media Is Bullshit, Brandon Mendelson, claims that the "true" owners of content created on social media sites only benefits the large corporations who own those sites and rarely the users that created them.
A really comprehensive list and interesting read. It will be interesting to see how this digital landscape evolves, particularly for businesses operating online. I think the rise of messenging apps, such as FB messenger, and the use of bots to automate conversations with prospects and customers is adding a new dimension to digital marketing and will be an area to keenly watch, study and explore, over the next 12 months.
Physical products, on the other hand, require larger capital in the development stage and one should go for them only once you have validated the product idea and have sufficient capital to invest in its development. That said, physical products like designer jewelry, crafts, and other home/living products are relatively easier to develop and sell online (for such product categories you can visit Etsy.com).
It has been estimated that some 81% of Americans used social media as of 2017, and increasingly so. Over one-fifth of an individual's online time is spent on social media, according to one estimate. In 2005, the percentage of adults using social media was around 5%. Globally, there are roughly 1.96 billion social media users. That number is expected to rise to 2.5 billion by the end of 2018. Other estimates are even higher. According to the Pew Research Center, social media users tend to be younger (some 90% of people ages 18 to 29 used at least one form of social media), better educated and relatively wealthy (earning over $75,000 per year). The United States and China lead the list of social media usage:
Some social media sites have potential for content posted there to spread virally over social networks. The term is an analogy to the concept of viral infections, which can spread rapidly from person to person. In a social media context, content or websites that are "viral" (or which "go viral") are those with a greater likelihood that users will reshare content posted (by another user) to their social network, leading to further sharing. In some cases, posts containing popular content or fast-breaking news have been rapidly shared and reshared by a huge number of users. Many social media sites provide a specific functionality to help users reshare content, such as Twitter's retweet button, Pinterest's pin function, Facebook's share option or Tumblr's reblog function. Businesses have a particular interest in viral marketing tactics because a viral campaign can achieve widespread advertising coverage (particularly if the viral reposting itself makes the news) for a fraction of the cost of a traditional marketing campaign, which typically uses printed materials, like newspapers, magazines, mailings, and billboards, and television and radio commercials. Nonprofit organizations and activists may have similar interests in posting content on social media sites with the aim of it going viral. A popular component and feature of Twitter is retweeting. Twitter allows other people to keep up with important events, stay connected with their peers, and can contribute in various ways throughout social media. When certain posts become popular, they start to get retweeted over and over again, becoming viral. Hashtags can be used in tweets, and can also be used to take count of how many people have used that hashtag.