Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
The impact of social media on businesses
The impact of social media on businesses
The impact of social media on businesses
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: The impact of social media on businesses
With the invention and development of the Internet, communication has changed in to a revolutionized platform. The Internet has evolved from a means to facilitate data, to a stage of public communication through the use of social media. Social media has affected every aspect of interaction from personal lives to the business world. The business world however, has been especially impacted by the application of social media. Social media has opened up a plethora of opportunities for businesses to advertise, promote and market themselves to consumers. Social media “is one of the fastest growing and most promising strategies a business can employ to boost sales and conversions” (Adobe). As social media continues to grow as a marketing tool, more and more companies have incorporated social media into their daily business activity for brand awareness, target market reach, business expansion and customer interaction. The use of social media substantially helps gather all types of fans of a brand or company together and allows them to interact and cooperate with one another, create an identity and communicate their interest for this specific brand or set of products. Take for example Kraft Foods campaign for the one hundredth anniversary for Oreo cookies. “Kraft launched the campaign because of its concern that Oreo did not "own top of mind awareness for men and women age 18-24" (Mitchell). What Kraft did was establish the primary target audience, and implemented a strategy to increase the traffic to their Facebook page. “The results of the year-long Oreo campaign were 231 million media impressions and almost a 200% increase on its Facebook page” (Mitchell). With Kraft’s marketing planned accordingly, it created word-of-mouth awareness,... ... middle of paper ... ...se the millennial use of social media, they are the primary target audience for businesses. “Teens and young adults who now publicize and publicly state their likes online are essentially doing what earlier generations did with posters and T-shirts” (Mitchell). Businesses are essentially provided free publicity, therefore increasing the sale force. “Millennial’s more and more define their worth through the number of "likes," "follows," and "re-tweets" they achieve” (Mitchell). With these features, consumers create their own brand. Marketers can use this to create specific marketing strategies that will display ads that will most assuredly catch the attention of a consumer. Social media may have started out as a small marketing tactic, but soon grew to revolutionize the way businesses can create brands, expand businesses, and interact with consumers for the better.
Social media is a modern way to manage the business; this is a useful to the companies to manage the existence in the market approach to the brand and consumers. Also, using a social media they are able to get the feedbacks from customers and able to improve their business. Additionally, social media is used everywhere by everyone and people go on it a lot of times in a day. Therefore it is important for the business to fit to the changes occurring in the market frequently in order to keep the business working properly and not losing customers.
In recent years, the realms of marketing and public relations have changed. Branding has become an increasingly important tool for businesses. As described in Kleppner’s Advertising Procedure, attributes of a successful brand include recognition, differentiation, imagery, and the ability to link all brand communications to that brand (Lane, King, Russell, & Kleppner, 2005 p. 639). In 2016, branding also means having a strong presence on social media. Lisa Ostrowercha describes social media as another way “… for your brand to share its personality with the masses” (Ostrowercha, 2016).
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 in the marketing communications mix and their various areas of convergence in this field of study.
As might be expected, the millennial generations as a whole are passionate about the technological and communication advances in the past decade with the internet and social media. “A new Pew Internet Project report reveals that 93% of young adult’s ages 18‐29 are online” (Andrew January 14 to 27, 2010). This allows access for marketer’s access to the generation in a different way than previous generations.
The biggest part of advertising now is done through social media. Social media has many major impacts on small businesses to corporate businesses. Jeff Bullas couldn’t have been clearer in his research. Jeff Bullas a blogger for social media works for online companies and CEO’s to research their online experiences through social media. Jeff Bullas stated: …
... It's vital that brands see how their fans and clients interface with them on Facebook and Twitter when they want to influence these stages and develop their businesses. For a business to be more successful than their competition, interaction with the customers plays a large role because people want to feel like they’re welcomed. Social media has become an important tool for like-minded individuals because it’s changed the way we learn, communicate and even the way companies interact with customers. Although people learn new information every day, the average person forgets about 80% of what they have learned all together in a given sitting.
Social media has an organic feel that other channels lack and it provides you with a plethora of opportunities to make the customer feel comfortable and good about your brand. You need to harness the power of these channels and make the customers feel like a ‘premium’ member – which means their issues are resolved at a faster rate. Furthermore, it will ensure that the customers become an advocate for your brand and you can extend your reach like never before. Raving reviews and recommendations are the first thing searched by millennials before purchasing from any brand.
Social media gives marketers a voice and a way to communicate with peers, customers, and potential consumers. It personalizes the brand and helps spread the message in a relaxed and conversational way. When the marketing team knows its target market it can then start sending out marketing and advertisement messages on the platforms in which will reach its target market the fastest with the most effectiveness. Marketing can create a relationship using social media with people who might not otherwise know about our products or service (Lake,
Marketing through Social Media (Exploratory Essay) Throughout the ages there have been many intriguing ways that businesses have portrayed their product or services for accessibility. Recently, businesses have been researching how to market the businesses product through the World Wide Web. With websites such as Facebook, Twitter, Instagram, it started becoming popular within the past 20 Years. People have started to rely heavily on the internet over the past decade, whether it be for searching for information on products or people.
Chi (2011) defines social media marketing as a “connection between brands and consumers, [while] offering a personal channel and currency for user centered networking and social interaction.” The tools and approaches for communicating with customers have changed greatly with the emergence of social media; therefore, businesses must learn how to use social media in a way
Social media in marketing is used as an apparatus that builds an identity for a brand and gives awareness that they thought they could have. It does not only respect buyers, but also customer allegiance. Social media is widely-ranged so it can be used in whatever way that best conforms to the strategy and wants of the business. In accordance to the social media marketing report of 2014, a considerable (64%) of marketers use social media for at least 6 hours or more and 41% for 11 hours or more weekly, more importantly nearly (19%) of marketers use up to 20 hours each week on Facebook, Twitter, LinkedIn, Instagram and many more. The report also showed 7 social media platforms that led in 2014 which are Facebook, Twitter, LinkedIn, Google+, Youtube, Pinterest and Instagram.
Furthermore, social media is a large platform for businesses in general. In the morning, the first thing that many people do is check social media to see “what’s new.” Social media is the best and most effective advertising tool. People may still watch TV, but people tend to be more on social media. I wasn’t aware that Wendy’s had chicken tenders until I saw someone I followed post it.
Social media marketing is a new trend of marketing where different Businesses have taken to social media sites to market and promote old and existing products and brands or create more awareness of their new products. Facebook and Twitter are the two most well known sites where firms market and promote themselves. Over one billion users worldwide use both sites everyday; from averages Joe’s to famous celebrities. Such is the power of each social media site that one post can make or break you.
We can now connect with each other instantly over the internet. It is quicker and easier to communicate and share with each other now than it has ever been. Massive amounts of people access the internet every day, and a good number of them use social media. This means that the ability to use social media and use it well is crucial for modern businesses. Whether for public relations or advertising, social media is now one of the best ways to reach consumers.
Social media start as a very personal tool for users to communicate with their friends and closely related people. Soon after, business area have also take the advantage of this innovative way of exchanging information.