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Social media's impact on business
Social media's impact on business
Conclusion about influence of social media marketing
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The importance of Internet use is continually rising (Filipovic 2015). Small and medium enterprises use Internet marketing to reach their segment (Sasinovskaya Anderson 2011). Marketers make numerous of actions to increase brand equity as they believe that the brand value is the final product for the clients (Aaker 1996 and Ding, Cherng G.Tseng Timmy 2015 ). In many developing countries citizens utilize the internet to socialize. Trade companies realized the opportunity to advertise their products or services via the social web using the internet and the social media (Yan Xin, Janice; Ramayah, T; Soto-Acosta, Pedro; 2014). To understand better the application of social media in brand value or brand awareness, it is crucial to underline two …show more content…
Some companies use the social media as the pillar of their marketing communication. As the information disseminates through the social media, companies use the social media to regulate the information. Social media deliver the power for the companies to interact with their clients or with their potential clients to build relationships and increase the loyalty (Smith, Katherine Taken; Blazovich, Janell L; Smith, L. Murphy 2015). The choice of social media for a firm should meet specific needs to fulfill their marketing mix. As Weinberg and Pehlivan (2011) underlined there is a variety of two particular dimensions which categorize the social media. The two factors are the depth of the information and the half-life of information. The extent of the information refers to rich content and the amount of diversity of aspects. The half-life of information refers to the period that the information, is available or appear on the screen (Figure 2-1). According to the marketing targets, the firm could select to use Facebook or …show more content…
The use of the Internet and social media gave a new perspective on these models (Constantinedes 2006). Jager (2007) underlined the discrimination of Product, Price, Place, and Promotion by the firms which use the Internet and the social media. Starting companies spend time and money on Internet (Google Ads, SEO) and social media, they need to create a strategy. A successful Internet and social media strategy benefit companies to save time and money as they can reach their segment more efficient (Schaffer, Neal 2013). Considering, for instance, one basic “P” the Place, the social media gave a broader environment for the firms to advertise their products or services (Bernhardt, Jay M; Mays, Darren; Hall, Amanda K2012). Many companies face competition in a physical world “marketplace” and in a digital world “market-space.” A new attitude of commerce is the “market-face” which is the interface between market-space and marketplace (Tapscott 2000). Juhasz, Jeremy (2014) underline the sententiousness of “5P’s” model in social media analyzed as Plan: every marketer should have a strategy to accomplish the particular goals. Patient: Nothing happens in one day. To create a network, strong relationships and establish the credibility of your brand needs time. Day-to-day activities should refer to long-term goals. Persistence: once the Plan is according to the
Social media is at the core of many marketing plans for corporations in the United States and world-wide. One of these companies at the forefront of social media use is Wells Fargo Bank, N.A. (Wells Fargo). The ability to directly contact customers and potential customers in a real time online environment is crucial to the bank / customer conversation and reinforcing the company’s place in a customer’s mind as the entity that they want to do business with (Wells Fargo Bank, 2014). This case study will discuss the current status of Wells Fargo’s use of social media as a means to building their customer base. Additionally, historical information on the process of the marketing move to social media will be presented and the development of the roles that are involved in this marketing strategy will be discussed. The impacts to the public sphere and society at large will play into the discourse of the social media topic and finally, the underlying theories will be discussed as they pertain to Wells Fargo and social media.
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).
Being a writer isn’t a complicated task, but being a messageful writer requires lot of experience and inner self-presentation. James Baldwin was a very great writer. He expresses his inner feeling into his writing, which makes him true writer. When ever he wrote something always contain some kind of message. Most of his writing about African American culture where he raised. His writing tells the story of pain. He painted cruel history of black community into his writing. His writing contains lot of pain and anger, which could only describe by his writing. He was a one of the leader who speeches his nation by his writing. After reading his piece of art, which was presented via short stories and many books, I have come to perceive James Baldwin as a legendary writer. Through his short stories, Baldwin expresses the truth about his life. It seems that most of Baldwin's life was spent during times of extreme racism and he was strongly discriminated against due to his racial and ethnic background. Some of his stories were written in the middle of 19th century, a time when American citizens were distinguished by their color. It was a time when black and white people had their own separate worlds in which they were living. It was very hard to break the narrow-minded ways of many racist people. In other words, there was a self-created border between both races. In his stories, "Previous Condition" and "Sonny's Blues," Baldwin has developed characters to fight against racism in attempts to live their lives as they please.
Social media has a big role in our perception of brands in today’s world. The two companies have both attempted to integrate social media in their continued attempts to one up their competitor. Google has made attempts to cr...
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.
Social media is pertinent in use of communication throughout today’s organizations. There are many social media platforms that allow organizations to convey communication to potential consumers, stakeholders and the public. “It is essential for leaders to integrate these technologies and seek the best way to use social media and networks to the advantage of the business” (Billington, 2012, p.1). Business owners find that keeping up with current technology trends is essential in having a competitive advantage in the market place and having a strict set of standards and strategy is important in quickly adapting to social media trends.
Marketing through hypermedia, such as television, radio, and social medial, is one of the most popular strategies of corporations at present. It has been proven to be effective in spreading information to consumers across all social levels. Hypermedia marketing is developed through a computerized network utilizing the World Wide Web (WWW) platform to reach out to millions of people and related business enterprises. Consumers are introduced to products marketed over this platform and depending on the quality of the marketing, may be urged to purchase the said products. One of the main objectives of any for-profit organization is to develop a marketing framework that would enable it reach all its prospective clients
The first advantage of using social media in business is increasing brand awareness. Social media can help business to build their brand awareness by increasing interactions with a business brand. Brand awareness means the total percent of a target people who know the company exists and what the company offers of products or services. When the brand awareness is increased, the possibility of buying is increased. Thus, efforts should be made to make the brand a part of the consciousness of customers. For example, Coca- Cola is one of the best companies that enjoy unusual...
Since social media users grow larger and larger, many companies take the opportunities of using social media marketing to reach more customers. Companies use social media marketing in order to achieve marketing communication and branding goals. Social media allows companies to see what prospects are saying about their brands and competitors. It also allows companies to build deeper relationships with existing customers that drives them to purchase again and again. Not only it can help them generate new leads, but it allows them to build deeper relationships with existing clients that drives them to purchase again and again. It has become common for businesses to branch out and experiment with multiple networks with the aim of reaching the maximum amount of costumers.
In particular, the Internet and the evolution of technological trends such as social media, mobile technology, cloud computing or big data have offered new ways of doing business and leads to digital business models (Uhl et al., 2014, p. 1). Digital technologies provide new channels for selling products but also change consumer behaviour by empowering them in having unlimited access to a huge quantity and quality of information, hence they can choose between competitors. This digital revolution represents a fundamental change in the business of all sizes and especially has shaken marketing to its core. Companies are facing new ICT enabling an interactive communication with customers and the brand message can be delivered through various new
Among the billions of social media users, there is a percentage dedicated to businesses who use social media as part of their marketing strategy. The sheer number of people who use services like Facebook and Instagram on a daily
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 are using 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 access consumers. Especially when it comes to younger generations, if you aren’t online you don’t exist. Social media is an excellent way to establish a presence in the minds of consumers. They can interact and establish a connection with an organization instantly. Social media is cheap and its everywhere. If a business hopes to compete in the modern world having a social media presence is absolutely
Social media is the modern version of the paper plus more. In modern society technology runs the world and the same applies to advertising and a company’s success because social media can spread the word fast and get your business recognized by a lot more consumers. Social media is "A unique opportunity for companies to stay on top of mind with current customers and get on the radar of new customers on their preferred platform." (Zeckman) Social media has a positive impact on businesses because Zeckman claimed that due to the rise in social media, more businesses can become closer to their customers and develop the trust and security that they are the right brand for their customers. In addition, Zeckman stated all businesses can use social media to their advantage by social media to get customers more interested and thinking about their product and to get new customers drawn in by ads that if we’re not posted some people would have never heard of the business. In connection it has been shown in research and surveys that social media has a very important effect on modern businesses and Ashely Zeckman continues to support this because in her article she states that "70% of marketers found that social media activities increased traffic to their website while 75% of businesses engaging
The internet was first used as a tool to pass information between American military and scientific bodies in the 1960’s. It has dramatically evolved since then, in developed countries the internet through the World Wide Web has become an important part of everyday life. Information can be passed immediately from one computer to another anywhere in the world creating a global village. Web 2.0 is a term that to a certain extent redefines the uses of the internet or more accurately the World Wide Web. It was coined by Tim O’ Reilly at a conference in 2004 it does not as the name suggests refer to technological advances in the structure of the World Wide Web but rather software development which allows users to interact with Web page content and each other. When the World Wide Web was launched in the early 1990’s its uses were limited to viewing Web page content. With the advent of Web 2.0 technologies people can communicate more effectively through instant messaging or video calls, share media content such as video’s, music, photographs, join social networking sites or express their own views and opinions on any subject through blogging. Web 2.0 technologies allow marketing companies to advertise to precise target markets through social networking sites. All social network sites require user’s to enter personal information to create a profile which breaks down the sites users into key demographic categories of gender, age and class. This allows the site administrators to effectively advertise products developed for a specific target market.
In 2016, the value of Internet retailing improved to 84% (Euromonitor International, 2016). Thus, online marketing became vital to businesses to promote their products. In respond to that, market players continuously promote their products through social media such as Facebook and Instagram. Businesses improve their customer relationship management as these platforms provide a swift and convenient 2-way interaction (Euromonitor International,