Andreas Kaplan and Michael Haenlein define social media as “a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content”[Users of the world, unite! The challenges and opportunities of social media, Business Horizons, 2010, Vol. 53, Issue 1, p. 59-68.].
Businesses also refer to social media as user-generated content (UGC) or consumer-generated media (CGM). Social media utilization is believed to be a driving force in defining the current period as the Attention Age. A common thread running through all definitions of social media is a blending of technology and social interaction for the co-creation of value.