Social media: A catalyst for entrepreneurship and marketing

Abstract

Social media has revolutionized marketing, advertising, and promotional practices of business concerns. After the advent of Web 2.0, traditional methods of marketing have become defunct and obsolete. The Global Digital Report 2020 says thatmore thana whopping 4.5 billion people around the globe are usingthe internet, which is nearly 60 per cent of the world's total population. Among them, the count of active social media users is 3.8 billion as of January 2020. Due to its widespread popularity and increasing adaptability, social media is becoming a new platform for entrepreneurs and marketers. It has much potential for business and entrepreneurial opportunities. Hence, the present research paper aims to discuss the importance of social media andits role as a marketing catalyst for entrepreneurs. Furthermore, it investigates requisite marketing strategies for entrepreneurs and various opportunities provided by social media.