Chapter 2 2.0 Introduction In the past few years, social media has evolved from just being a basic tool for collaborative creation and the sharing of content to becoming an important part of the present media landscape (Evans & Bratton, 2008; Weinberg, 2009). From a business perspective, companies are actively leveraging social media to create brand communities and crowd sourcing models, gain consumer insights, enhance product/brand awareness, improve search engine optimization efforts, reduce customer acquisition and service costs, and optimize overall marketing and communication efforts (Weinberg, 2009). This chapter seeks to review literature that has been propounded by past and present researchers in the field of social media, its use …show more content…
Social media has established itself as a mass phenomenon with a wide demographic distribution: 75 percent of the US internet users use social media (Miller, 2009). Social media marketing Gunelius (2011) defined social media marketing as any form of direct or indirect marketing that is used to build awareness, recognition, recall, and action for a brand, business, product, person, or other entity and is carried out using the tools of the social Web, such as blogging, micro-blogging, social networking, social bookmarking, and content sharing. Kotler et al. (2008) describes social media marketing as “a social and managerial process by which individuals and groups obtain what they need and want through”. Social networking and social media specifically, have been painted as the new marketing landscape for businesses to engage with their communities of customers wherever they congregate (Solis, 2009). The evolution of social networks allows for personalized interactions between advertisers and consumers (Mabry, 2010). Social media uses A study conducted by The SMB Group found that one in five small businesses have no social media strategy. Without strategy or goals, a business is unable to determine whether or not they are gaining anything through their efforts, or simply wasting
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.
Moving forward, social media has been a major convenience and reward to virtually everyone. On an individual basis, social media allows friends and family both near and far to communicate with one another. Also, businesses are flourishing through the use of social media. Advertising has never been easier. Horn (2013) states, “Our profession, unlike any time before, is demanding we become social media (…) experts” (1). Horn (2013) also states, “More than half of reporters (55 percent) use Twitter and Facebook to source stories” (1). Social media has greatly benefited business life and personal life.
Barker, M.S., Barker, D.I., Bormann, N.F., & Neher, K.E. (2013). Social media marketing: A strategic
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
Social media has now become a part of our modern day society and has a huge impact on our lives on a daily basis. Social media is the use of web and mobile-based technology to support interactive content. This content tends to be user generated and then might be promoted by other users to a new outlet or audience. Social Networking is a great
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.
We cannot deny how big of an impact social media has on our lives now, not only on people but businesses too. It has opened a whole new door to the business world and given them a big opportunity to interact and attract a larger amount of customers. It’s given us a new and faster way of communication by exchanging pictures, stories, news, blogs, online discussions, etc. In exchange businesses have benefited by a long shot just by the click of a button. With the help of the Internet a company no longer is dependent on a particular customer base to survive because now it can reach out to a worldwide audience within seconds. It’s imaginable the countless business attributes of all social media to this day and still is growing. Social media
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.
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 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 can be defined as websites and applications that enable users to create and share content or participate in social networking. As a phenomenon of only the past couple of decades, it has certainly changed the way we live our everyday lives. Whether socially or professionally, it opens the door to incredible amounts of information; most of which is freely shared.