ASSESSING THE ROLE OF SOCIAL MEDIA IN FOSTERING CUSTOMER RELATIONSHIPS, MARKETING, AND CRISIS MANAGEMENT

This study explores the role of social media in modern business communication, focusing on customer relationship management, marketing, and crisis communication. With 91% of U.S. businesses using social media for marketing by 2021, platforms like Facebook and Instagram have transformed business strategies. The research employed a mixed-method approach, surveying 150 business owners and analyzing case studies of brands like Nike and Starbucks. Results show a 20% increase in customer loyalty for businesses actively engaging on social media, while 78% of companies with crisis plans are better equipped to manage reputation. Conclusions emphasize the importance of real-time engagement and tailored strategies to foster customer loyalty and mitigate crises.