Economic Aspects of Social Media: Facebook’s Potential for Generating Business in Iran

This paper offers an evaluation of the role of virtual media in facilitating business generating activities. The analysis focuses on business generating activities in firms and marketing organizations from internal and external point of views. From internal point of view the paper addresses the role of Facebook in provision of some of the social capital that the economic sector needs and from external point of view it will focus on the role of social media in increasing the customers trust as well as strategic and tactical changes that must be utilized in the field of marketing and advertising. Some of the findings indicate that Facebook contributes to an increase in bridging capital of the Facebook users as well as to flow information needed for the new economic activities. The findings also indicate that many organizations and foreign firms use social media in order to increase their customers trust.