Internet as Invention that Opened the World of E-Commerce - Research Paper Example

Social Media In marketing Introduction The world in which we live has changed. How and Why? The life of human being is changing every now and then due to the effects of the technologies. However, these effects offer both positive as well as negative impacts in the lives of the human beings such as improved communication as well as frustrations. Introduction of new and inventive technologies such as internet, communication devices, computers, electronic devices and many others entirely changed the life style and characteristics of a human being. Internet is that invention that opened the world of E-commerce, online learning as well as online services. With the introduction of the concept of E-commerce, the outlook of business changed entirely. Now a day, maximum extent of the entrepreneurs desire to promote the features and benefits of the product lines of their brands through online sites or social media such as face-book, twitter, LinkedIn and others. By doing so, the entrepreneurs might reach a wide range of customers in a very small time span that improved its position and ranking in the entire globe. Along with this, due to the use of social media sites, the level of awareness of the customers also enhances to a significant extent that may enhance the trust and reliability of the brand in the market among other rival contenders (Macdonald, 2013). Apart from this, due to the introduction of mart phones or electronic devices such as tablets, the intensity of purchase or access of the social media sites increased. As a result, all sorts of updates regarding any product or service or brand are easily viewed by the customers. Due to which, the scope of success is extremely high in this age as compared to previous era that improved the total sale and demand of the products or brands. Thus, E-commerce or social media helped the brands or entrepreneurs to create a market presence or improve the existing position or ranking. This research paper tries to attract the attention of the viewers over the importance and role of social media in marketing. However, in order to describe this topic, the paper is divided into five sections. Discussion What is social media? Social media is the way of communication platform with the help of which, an individual may easily share information or ideas through online sites like face-book, twitter, you-tube etc. It also acts as a source of engaging with a wide range of customers that may enhance the profitability and productivity of the organization. Moreover, it is a medium with the help of which, the rate of reach of the customers might be enhanced that may increase the sustainability and competitive advantage of the organization. Thus social media acts as an opportunity for the entrepreneurs to develop the marketing programs or strategies as 90 percent of the B2B marketing utilizes it (Macdonald, 2013). Status of Social Media for Business entrepreneurs or B2B marketers Almost 2.9 billion likes are offered every day on face-book pages Almost 289 tweets are presented every day by the business marketers Apart from face-book, You-Tube is the second largest preferable site Google+ button is liked or used by 5 million customers in a single day for marketing Pin-interest is viewed by 1.36 customers Internet ranking is checked by almost 3 million customers for up gradation of business sites Other than this, the age groups of customers or entrepreneurs using social media sites are also presented below: Almost 3 hours is spent in social media by males and the female segment spends an average of 3.6 hours per day mainly for business purposes. It is also presented below: Thus, it might be clearly viewed from the above mentioned information that social media is the most essential medium for improvement of the business activities. Different Methods of Social Media in Marketing Personal website: it is also an important medium with the help of which, an entrepreneur might easily promote its business among many other customers. By doing so, the total sale of the business might be enhanced that may increase its total revenue and profit margin (Jacobson, 2009). Article sending: it is recognized as the cheapest and renowned method for the entrepreneurs to promote its business dealing in the entire globe. The advantages of the product lines and services of the brand or entrepreneur might be presented with the help of various articles that may be freely published in varied article sites. Email sending: in this method, varied types of emails are sending to the addresses of the customers that may enhance the dealings of the business to a significant extent. Along with this, such type of emails might also improve the ranking and position of the business sites. Social media networking sites: offering up-dated information in various social networking sites such as face-book, twitter, Linked-In etc. By presenting varied types of up-dates, numerous feedbacks are offered that may increase the ranking and position of the business websites. Thus, with the help of above mentioned sites, the importance of social media for marketing might be easily evaluated. How do we use social media? Social media is used as a medium for presenting various types of information and facts that may increase the position and sustainability of the businesses. Along with this, it might also be used to share the ideas or strategies among the co-members or partners of the business in order to implement the best one. So, that it might prove worthy for the business in long run among many other rival contenders in the market (Sponder, 2011). Other than this, social media sites might also be used for improving the total range of customers and profit margin as well. Moreover, it might also be used to increase the demand of the product lines thereby amplifying its portfolio and brand value in the market. Therefore, in the above mentioned reasons, social media is used by the marketers in this age. How social media helps the companies of this age? Social media acts as an umbrella that defines various activities by integrating improved technologies along with social interactions. By doing so, the social media sites persuade the consumers to purchase the products and services of a specific organization as compared to others. This tactic enables the organization to enhance its demand and loyalty in the market among many other rival contenders. Moreover, with the help of social media sites, the customers might offer varied types of feedbacks that may prove worthy for the organization in its long run. As a result, these feedbacks might be viewed by numerous customers or visitors that may increase its ranking and rating in search engines. Therefore, by viewing the positive feedbacks of the customers, numerous traffics might get changed into prospective consumers of the organization or brand thereby amplifying its profitability and consistency in the market. Furthermore, social media might also be used to highlight varied advantages or benefits of the product lines or services that may increase the effectiveness of the organization in the market among others. Due to these underlining reasons, social media is considered as one of the most important means of marketing or promotion for the entrepreneurs or business persons in this age of extreme competitiveness (Sponder, 2011). Apart from this, with the help of social media, the customers might analyze the position or quality of varied brands and that may evaluate the best one. This activity might prove extremely effective for an individual or customers, prior purchasing the products. Hence, it might be depicted that social media is effective both for the entrepreneurs and customers as well. Which social media is influential for marketing? As, social media is considered as one of the most important media for marketing of the features and activities of the product lines, so its demand is increasing at a rapid pace as compared to traditional marketing options. Among, numerous other media’s, face-book is considered as the best one among others as it is served by almost 1 billion customers in the entire globe. Moreover, in Face-book, the entrepreneurs or business persons might make their own profiles and display the advantages of the products that may help in attracting a wide range of customers of varied income groups and living standards. As a result, the efficiency and effectiveness of the brand or the organization increases thereby amplifying its supremacy in the market among other rival players. So, face-book is offered more attention in promoting the features, of the products or services of a business organization among others. What are the Benefits of social media marketing? As promotion is the most essential requirement of this age, so the demand of social media is increasing. Now a day, maximum extent of the promotions takes place through social networking sites such as face-book, twitter, linked-In etc. In spite of acting as a communicational tool, social media sites also offers varied types of advantages. These are presented below: Social media sites helps to increase the exposure of the business: wit h the help of social media sites, numerous traffics or visitors might become aware about the features of the products and services. As a result, the demand and productivity of the product lines also enhances resulting in amplification of its total revenue and profit margin. Therefore, within a very small time frame, the dominance of the organization or the brand might be increased that may prove effective for it in long run among other existing contenders. Social media creates new relationships with partners: due to the presence of social media sites, the level of relationship might get enhanced to a significant extent. Apart from this, varied types of new relationships might also be developed that might prove worthy in reducing the up-coming challenges of the organization. Moreover, the opportunities of the organization might also be enhanced thereby reducing its threats to a considerable extent among others (Sponder, 2011). Presenting qualified leads to the business entrepreneurs: numerous visitors get transferred into loyal customers. From these customers, sometimes, prospective leads might be attained by the entrepreneurs due to the good interpersonal relationships. Therefore, with the help of maintenance of good relationship, the prosperity and productivity of the organization might be increased in this competitive market. Reduction of the marketing expenses: due to the presence of social media sites, the level of marketing expenses might also be reduced to a significant extent. As a result, the remaining revenue might be used for the improvement of the product lines or services of the organization. Improvement of the total sale of the products and services: due to the presence of social media sites, the range of total sales and profitability of the organization increases to a significant extent. This is possible only because, the social media sites might reach the customers in the entire globe. Increasing the intention of purchase: numerous uninterested customers also become attracted to purchase the product or service after viewing the features or feedbacks of the other customers. As a result, social media helps to increase the total profitability and awareness of the brand or products within the minds of the customers of varied living standards. Therefore, due to these above mentioned benefits, the demand and intensity of social media sites is increasing in the entire globe as compared to others. What is the role of Social media in marketing? Social media is considered as one of the most powerful online marketing technique in this electronic world. It also offers varied other functions that are presented below: Social media presents an identity to the products and services of the organization or the brand: social media sites helps to present a specific identity to the products and services of the organization. As a result, the demand and portfolio of the product lines of the organization enhances resulting in amplification of its total sale and profitability (Macdonald, 2013). Social media presents a real and distinctive image: social media helps to present a real and distinctive image about its products and services within the minds of the customers. Due to which, the dominance of the brand increases to a significant extent that may improve its customer bases and reputation in the market among others. Social media enhances the level of interaction of the customers and the entrepreneurs: it is the social media that helps to improve the interaction of the customers and entrepreneurs thereby amplifying its total sale and loyalty in the market. As a result, the trust and dependency of the consumers over the brand increases thereby reducing the rate of switchover cost towards other brands. Social media enhance the image and dominance of the organization: due to the presence of social media so as to promote the features of the brand, its image and dominance also enhances that increases its sustainability in the market. Social media in marketing acts as word of mouth: it helps in assisting numerous individual to attain valuable information and facts about the product lines or services that increases the intensity of sale and profit margin as well. Thus, from these information it might b clearly analyzed that social media is extremely essential for any organization in this age. Statistical graph showing the effective of Social Media in Marketing From the graph, it might be clearly depicted that social media acts as one of the important platform in marketing that may improve the supremacy and revenue of the organization, operating in any segment. Moreover, as social media comprises of three distinct characteristics such as two way interaction or communication, collaboration and democratic features so it is highly preferred and accepted by the entrepreneurs as a marketing tool in this age of extreme bargaining power and competitive rivalry (Joosten, 2012). Analysis Why businesses need to consider social media in marketing purposes? Social media is used as technique or tool of marketing the product or services of an organization to a considerable extent among many other rival players. This is mainly due to the presence of numerous factors such as: Size: in this recent age, face-book comprises of more than 250 million consumers in the entire globe. Moreover, on an average 70-100 tweets are presented in a single second that increases the level of awareness of the customers towards the brand. Transparency: the social media sites do not include any sort of negative technique at the time of marketing any product or service. Each and every step in social networking sites are entirely authentic and fool proof. So, in case of marketing any product or service, social media sites are used. Reach: social media sites helps in marketing or promoting the products or services to a wide range of customers in the entire globe as compared to many other marketing options. Boost website traffic: social media is one of the most essential media that may increase the traffics or visitors within a website. As a result, the level of productivity and profitability of the products of the organization increases to a significant extent among others. Branding: social media is also recognized as one of the important medium to create the image of the brands. As a result, the level of awareness of the customers increases resulting in amplification of its dominance (Jue & et. al, 2009). Therefore due to these above mentioned facilities, social media is used as a tool for marketing approaches in various organizations. Strategies used by social media at the time of marketing the products The strategies that social media utilizes at the time of promoting the product or services of the organization are presented below: High-ended customer satisfaction: in this age, customer satisfaction is the most essential requirement of any organization. Just by presenting the features of the product or service may not help in its selling. However, proper interaction with the customers might help in analyzing his or her inner desires that may be implemented within the products in future age. Only then, the total sale and profitability of the organization might be enhanced. Promoting to a specific group: SMM is not used to market the products for all. But it promotes mainly to a specific group of consumers. This might help in attainment of prospective leads that may amplify the brand image and total sale of the products and services. SMM includes novel promoting methods: the methods used for promoting the products and services of the organization are novel in nature. Due to which, maximum extent of marketers prefer this method at the time of promoting the products. Findings Why is there a move in marketing activity from traditional and broadcasted media to social media? In recent age, maximum extent of the entrepreneur desire to shift from traditional marketing media’s to social media. As per the research of Joosten (2012), almost 90 percent of the entrepreneurs state social media as the most essential medium for marketing. Almost 77 percent of the marketers prefer to present you tube video so as to attract the attention of the customers and 70percent of the entrepreneur desire to learn up-dated information from face-books. Other than these reasons, some of the other facts for which, the level of preference of social media in marketing is high is presented below: High level of preference of face-book: maximum extent of the individual desire to spend huge amount of time in face-book. As a result, maximum extent of the entrepreneurs desires to promote their products and services in face-book. Varied types of customers: in face-book, numerous customers of varying life styles and living standards may be reached by the entrepreneurs. Marketing cost is quite less: the marketing cost of the entrepreneurs is quite less as compared to many other social media sites. So, its level of preference is extremely high (Agresta & Bough, 2011). Direct interaction with customers: in social media’s the entrepreneur might directly communicate with the customers that may resolve varied types of queries and problems. Due to these causes, social media is highly preferred rather than any other traditional marketing medium. Conclusion Conclusively, it might stated that social media acts as one of the most important tool for marketing the products and services of an organization. This is because it acts as medium, which is quite safe and secure as compared to others. It does not use any sort of negative techniques at the time of promoting the products. Moreover, marketing processes comprises quite low cost, which is extremely beneficial for the entrepreneur in this age of extreme competition. Social media is used for marketing as maximum extent of the consumers of varying age-groups desire to spend huge amount of time in it. As a result, all sorts of up-dated information may be presented in social media that may easily increase the level of awareness of the consumers. As a result, the brand image and profitability of the organization also enhances to a significant extent as compared to other sites. References Agresta, S. & Bough, B.B. (2011). Perspectives of Social Media Marketing. Retrieved from: http://library.books24x7.com.libraryproxy.griffith.edu.au/assetviewer.aspx?bookid=34484&chunkid=3664175 45&rowid=18 Jue, A. L. & et. al., (2009). Social Media at Work: How Networking Tools Propel Organizational Performance. John Wiley & Sons. Jacobson, J. L. (2009). 42 Rules of Social Media for Small Business. Oxford University Press. Joosten, T. (2012). Social Media for Educators: Strategies and Best Practices. New York: Springer. Macdonald, R. (2013). The new age of marketing: How social media has changed the marketing landscape. New York: Springer. Sponder, M. (2011). Social Media Analytics: Effective Tools for Building, Interpreting, and Using Metrics. McGraw Hill Professional. Read More