IMPACT OF SOCIAL MEDIA
Over the years communication has evolved into a revolutionary platform, through the invention and development of Internet. The Internet has evolved from a means to facilitate data, to a platform of public communication through social media. Social media has opened up a plethora of opportunities for businesses to advertise, promote and market themselves to customers. This research paper discusses how social media has changed the scope of the traditional customer relationship marketing in today’s business world.
IMPACT OF SOCIAL MEDIA
Since the beginning of time, communication has always played a major role in normal day-to-day activity. Communication has evolved and gone …show more content…
“ YouTube is currently one of the biggest search engines being used today. YouTube is a video-sharing website that is primarily updated by subscribed users who upload videos. Individuals, subscribed or unsubscribed, have the ability to watch videos, like them and comment on their thoughts of the videos.
Social Media in the Business World Since the development of these various social media tools, companies have used they’re development and growth to gain competitive advantage in the markets. Companies use social media tools to market their brand and interact with their target market. One of the primary reasons businesses utilize social media to market is because social media marketing reduces the cost of advertising. With forums such as Facebook, companies have the opportunity to create a profile for their product or service and inform their target market about what they are all about and the benefits of their product with out having to spend a dime. Social media marketing is one of the most cost effective ways for a company to gain exposure and advertise a company. Social media also creates spreadability or exposure for a company among consumers. Mills states “spreadability refers to the ease with which a campaign flows across social networks.” (Mills, 2012). The ability for a brand or company to spread through social media tools such as Twitter and YouTube, give the company leverage and
One of the key roles of social media from a marketing perspective is the development of a client based platform. It is becoming an increasingly important part of any business’s marketing. Businesses can utilize existing online platforms to build networks of current and potential clients. By being active online allows businesses to connect with their customers in innovative ways to become a trusted source of information and convey the passion they have for their industry.
It is interesting how social media today is influencing the marketing role of many companies and how it’s playing a big role in their success. The more the company advertises on social media, the
The paper will began by an overview of the social media sector accompanied by its impact on human behaviour. I will then talk a bit about the modern marketing strategies which companies are using through social media. Later on I will describe the Statistics that Show Social Media is the Future of Customer Service. Finally the essay will conclude with my opinion about the impact of social media on today’s business world and human life.
Social media is not new. Facebook has been around since 2004, YouTube since 2005, and Twitter in 2006. What is new is how social media sites like Facebook, YouTube and Twitter are affecting the way businesses market their products and services. Never before in our history have consumers been able to communicate so effortlessly with each other and with the businesses they frequent. Never before have businesses been able to interact and react to customer feedback so quickly and efficiently. However, just because businesses have the ability to use social media for their marketing and advertising efforts, does not necessarily mean they should. This paper intends to
Social Media has changed the communication setting for all marketers. “Perhaps the greatest value of social media marketing is your ability to foster and engage with a community of people” (moz.com). An involved audience is one of the greatest resources a brand can have. There
| First, marketers must realize that they often do not control the content on social media sites. Second, the ability to share experiences quickly and with such large number of people amplifies the impact of word of mouth in a way that can eventually affect a company's bottom line. Third, social media allow marketers to listen. It is no longer one way communication. Marketers now can actually have conversation with customers and get feedbacks. Fourth, social media also provide more sophisticated methods of measuring how marketers meet and interact with consumers than
Social media are computer-mediated tools that allow people to create, share or exchange information, ideas, and pictures/videos in virtual communities and networks. (Wikipedia) Business use social media to advertise,
Marketing is continuously changing and growing within the business field. Recently, social media is becoming one of the main marketing strategies used by companies, which is known as social media marketing. Twitter, Facebook, Instagram, YouTube, and blogs are some of the platforms used in this area of marketing. These types of social media allow consumers to be updated by following their favorite companies. It is not a surprise companies are starting to regularly use this form of marketing due to the role social media has in today's society. Social media does, however, impact a company in a multitude of ways. There is much debate on whether companies should or should not use social media to market themselves. Even though there are some flaws
Social media is a necessary component for businesses in order to expand their market. By using the right social media tactics it will bring company enormous benefits. Not all companies can find the right platforms or method at the first time, but when use it more frequently, you will find the best way to market the company. I believe social media will be more advanced in the future and it will become a main tool for businesses to
Youtube is one of the most popular video sharing website on the internet. Everyone has seen a youtube video at least once in their life. Most of us watch videos on youtube weekly if not daily. It is playing an important role in defining todays pop culture.
The use of social media has a very wide variety of advantages and disadvantages for companies. In essence it’s an extremely cheap way to reach consumers, and help them develop a brand perception. Companies can use it to hit a wide audience, and show them about a new product, or deal going on. They can also use social media to develop conversations with their consumers. This can positively shape thoughts and ideas about the brand. Also companies can use analytic services figure out the demographics of who is interested in their
The marketing industry is an elaborate network that links companies to their consumers, primarily through written communication. The main objective of marketing is to identify trends and patterns in consumer behavior, and utilize the data to influence consumers to purchase more goods. From a macroenviroment standpoint, the general conditions of a market are heavily dependent on global environmental factors. The most significant factor that influences the markets today is technological advancements. Since the release of Facebook, Linked-in, Twitter, and Myspace in the early 2000s, the number of people using social media has increased to over sixty-five percent. The ever-growing dependency on social media platforms, has given marketers the tremendous opportunity to further market potential consumers. Social media marketing is a specific form of marketing that focuses on producing ad content that social media users will post on their own networks. This particular marketing technique is effective because ads and content are created, based on what personal information users post on social media. Firms and organizations that advertise their brands on social media are more likely to increase their customer base and annual revenue. By doing so, companies are able to increase exposure of their brand and widen previous hidden, customer bases. As a marketer, the fine line between right and wrong is often blurred. The amount and
In today’s business world, social media is being discussed on a daily basis. This phenomenon has taken over the marketing and advertising industries and has changed the way they handle their efforts to attract customers. There is a big misunderstanding that social media are only popular networking sites such as Facebook and Twitter, but as defined by the Merriam-Webster dictionary, social media are “forms of electronic communication (as Web sites for social networking and micro blogging) through which users create online communities to share information, ideas, personal messages, and other content (as videos).” The rise of these online communities has given companies an opportunity to engage in conversations with their customers. This in
Social media is defined as a group of Internet-based applications which build on the platform of Web 2.0 and the contents of these applications can be modified by all users in a participatory and collaborative method (Kaplan and Haenlein, 2010). Social media creates a platform for companies to talk to their customers as a hybrid element of promotion mix. With the emergence of social media, the tools and strategies for companies to connect with customers have also changed (Mangold and Faulds, 2009). To adapt with the emergence of social media in the marketing, companies should have unique insights about these significances (Quan-Haase and Young, 2010). The significances of social media embody three main aspects which are technology, decision-making and purchase behaviors of customers.