The Influence Social Media has on Businesses: Good or Bad?

I chose to do my project on the influence social media has on businesses.The reason why I am choosing to research this topic is because social media is a major part of our everyday lives. Before social media, people met others and learn about pretty much anything through the T.V or even word of mouth. With social media you can create and share anything you want, with anyone around the globe.With social media at such an all time high usage there are advantages and disadvantages that businesses face. I will be discussing both aspects, the pros and cons on the influence of social media on businesses. I will be discussing in detail how businesses use social media to increase their consumers, retention rate, brand image and brand loyalty. I would also like to discuss in detail examples of companies who have used social media to their advantage and what they gained out of it and examples of companies who haven't adapted to the times and what negative and/or positive effects it has had within their business.This is just a brief summary of what I will be touching on in my project.