The Power of Social Media

If you ever plan on running a business, it is crucial to understand the power of social media and how it can affect your business. I recently read an article that describes it perfectly:
             
      "With social media, everyone’s a broadcaster and the snowball is on steroids"

If you upset one customer and they're an avid social media user, news will get out fast.  The article is about a non-profit organization, Susan G. Komen for the Cure Foundation. This foundation is one of the biggest charities for breast cancer research in the US. Komen recently decided to stop founding another non-profit organization, Planned Parenthood. Komen provided planned parenthood with resources for mammogram examinations for over 5 million Americans that can't afford to apply for the screenings.

When news broke out that Komen had cut the funds, supporters were outraged. Komen clearly did not do an audience analysis and did not realize how her supporters would react to this decision. Especially when you are a non-profit organization and you're source of income is from donations, you can not make a decision like this without thinking about the end result. Komen has since reversed her decision, but supports are still upset about the decision and she will most likely lose funding from some supporters.

http://www.inc.com/janine-popick/3-lessons-from-the-susan-g-komen-for-the-cure-disaster.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+inc%2Fheadlines+%28Inc.com+Headlines%29&utm_content=Google+Reader