Social media are becoming one of the essential parts of everyday lives and economic activities of large percentage of people worldwide. Therefore, social media has entered almost every aspect of people's daily lives by using enormous economic benefits of Internet and its most visible part i.e. World Wide Web that already made data, information and communication available to people in a matter of seconds. This is considerably emphasised when it comes to the power of social media in marketing, both the traditional one; where advertisements are inevitable and surrounding consumers on every step, and the modern one (often called digital marketing and/or online marketing) which strives to implement new ways of displaying advertisements. Thus, all social media have deeply changed the way marketing functions and because of them the completely new discipline of marketing was subsequently coined i.e. social media marketing, with communication strategies being one of its most significant parts. Based on the premise that, in order to deepen relationships with and to enhance exposure to, potentially interested people, social media marketing and its communication strategies utilise the principle of networking within social media, authors have decided to conduct the research in order to determine economic benefits that can be expected from their timely and effective implementation. Purpose of this research is to find examples of economic benefits that modern marketing can achieve across a variety of social media by communication strategies that have potential to be viable, as well as to analyse and synthesise research results on the topic of this paper that was made and conducted by its authors. With regards to used approach, authors have combined these scientific methods: induction and deduction, analysis and synthesis, abstraction and concretization, generalization and specialization, classification, description, compilation, comparison, statistical, mathematical, historical, empirical and survey. Finally, main results and implications of this paper are presented as carefully composed and thoroughly elaborated theoretical parts in conjunction with the aforementioned survey that is actually completely original authors' contribution to the worldwide academic research in related scientific disciplines.
