Justification of social media opportunities and Treats Social media as an opportunity has been depicted by various researchers in the Indian context. According to Sharma (2012), social media has become an important tool to create brand awareness, engage current and prospective buyers by small corporate house. The importance of social media in co creation of advertisements with an important campaign during Pepsi IPL 2015 in India. The motive behind the social media and their usage pattern is also quite valuable in enhancing companies’ performance. Social media marketing when integrated with existing CRM system positively enhance companies’ performance of IT firm and develop a firm’s distinctive competency. On the contrary, social media has also made the customer powerful and has destabilized the situation for companies by exposing negative publicity, consumer attacks, and status damage. The advent of social media has roped in several threats to companies. Customer can easily create control and share data with bigger audience and friends. Such interactions and market players via social media and can reach wider audience. Hence the power of customer challenging to respond to consumer attacks. Conclusion The findings presented in this study conclude that even though social media is more effective than some of the traditional advertising channels, it cannot be implemented in isolation without augmenting it with other forms of traditional advertising channels. The implications
The use of social media marketing has become a standard way in which organizations advertise their products or services. Social media marketing allows consumers to have immediate access to other consumers reviews or to post a review about a product or service. There is engagement between the company and the consumer (Evans, Dave 2010). Social Media emerged in the late 1980’s when websites such as Prodigy, Compuserve and America Online. Prodigy was first of it’s kind and was known as a ”consumer online service”. Half of the page is devoted to advertising. Facebook, Twitter, Myspace, Hi5, Bebo and Orkut are all social media platforms that are utilized as platforms today.
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.
Research on the subject of using social media for advertising began with the review of several scholarly articles. The Journal of Marketing published an article named “From Social to Sale: The Effects of Firm-Generated Content in Social Media on Consumer Behavior” on January 1 of this year. The authors conducted a study on consumer behavior linked to social media and e-mail advertising. Their results are promising. A separate article was published in April on the use of social media in sales. This article, “The Use Of Social Media In Sales: Individual And Organizational Antecedents, And The Role Of Customer Engagement In Social Media”, tested a model
Social media has become essential as a marketing tool for CU's, which is why 74% of marketers are incorporating social media into their marketing budgets. The CMO Survey released in August 2014, indicates that “marketing budgets are expected to increase by 7.2% in the next year.” With 1.65 billion social accounts that are active globally, social media has become an effective
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
Businesses use platforms such as Twitter, Instagram, and Facebook as a modern tool to share information with their customers. Facebook offers the option for businesses to create a fan page for their company or product. Twitter allows the use of 140-character posts that users can follow, tweet, or retweet. Blogs are less commonly used, but allow businesses to write in journal type format. YouTube offers a video-library to its users with millions of viewers around the world. There are many other types of social media but most of them follow similar general communication capabilities. Utilizing these
Clever marketers already know about this benefit which is one of the reasons why they were the first ones to use social media. Research has shown that by creating social media strategies small businesses are creating new ways to connect with their customers. A recent survey revealed that the best benefits of social media marketing are producing more business publicity, increasing traffic, and increasing search engine rankings. All of these benefits are particularly imperative for small businesses with reduced capital as the owners frequently have many positions in the company and consequently have many requests. Social media can play a major part in helping small business owners save money and cost by forming a way to accomplish many assignments at the same time making sure that business operations are efficient and finances are taken care of. (Schaupp and Belanger 187). The most important economic factor in social media marketing is the time it takes to understand the benefits of all of the hard work. Nevertheless, advertising costs could possibly be decreased or removed by taking advantage of using social
Social media is an effective media of communication between the consumers and companies. The companies are using social media for improving consumer engagement and brand lift. This essay gives a brief overview of social media platforms and how effective they have been. It shows that the whole marketing concept has undergone radical transformation due to the social media interaction. The essay ends in conclusion depicting what marketers need to take care in order to have successful social media campaign.
The effectiveness of Social Media can be improved depending on what metrics the marketing managers
Social media in business continually rises to be an in important tool in everyday business and this means that communication is greatly evolving. In this development period, social media has had a prodfound impact on businesses especially in marketing. As a result, many are using social media as a communication tool regardless of the negative impacts experienced in some aspcts of social media.
Social media is capable of connecting a brand with its consumers and discover how they are being perceived, it also has the power to change perceptions and identify the key people within the business network. The unique feature of social media is that it can provide corporations and businesses solutions developed through operating with consumers and stakeholders. Basically, social media serves as a visible connection to one’s corporation and its stakeholders, consumers, suppliers, etc, who each have a defined role within the system to filter and regulate information. As mentioned earlier, the influence of social media is spreading in a proliferative pace that has resulted to an essential transformation in society, technology and business customs.
Social media has taken off like a rocket throughout the years. The annoying sound of a modem connecting has turned into a soundless transaction. The wait time to connect is instant, opening a global world of interactions for people. You can now connect with anyone, anywhere at anytime at least once a day. Social media defined by Goyal is “Any platform,which provides the facility of sharing ideas, exchanging information and sending messages over an electronic medium, is considered as social media.” (Goyal,222). This is to include online magazines, Facebook, Twitter, Newspapers,Email, Blogs, YouTube and many more. Advertisers have taken notice to these platforms, utilizing social media to promote their brands, develop trust with the consumer,save money and target audiences faster than ever before.
The purpose of this report is to show that even though some state that Social Media has fallen short of their expectations, it is actually good for business, given that it enhances the visibility of their brand and helps businesses stay connected to potential customers.
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.
Social media is presently one of the best opportunities that is available for a brand to connect with the prospective consumers. Social media can also be treated as a medium for the socialization. For the businesses, the social media is a marketing opportunity for transcending the connecting between the consumers and the companies. The influence of the social media is infiltrating various aspects of our lives(Arca, 2012). Social media is constantly rising and the impacts of the social networking is penetrating in almost all businesses Social media are often used for spreading the knowledge about the changing opinions of the people. Important marketing tactics are applied to these social networks for better outcomes. Businesses with a well-established and ethical social media platform have more chances to become successful in the competition of the social networks. This research report comprises of the detailed explanation for the advantages and the disadvantages associated with the social networks. A rigorous analysis for the subject has been done in the report.