Social media - Research Paper Example

Social Media Affiliation Social Media As a beneficiary and part of a family business, social media has played an important role in the creation, development and marketing of our brand. Specifically, my family business main participation in social media in through Facebook. Being a young member of the family business, my knowledge and expertise of social media, in this case Facebook, has been an important inclusion. My selection of Facebook is mainly based on the success story the social network has impacted on the family business.

In addition, the use Facebook has been embraced by all stakeholders in the business. The selection of Facebook as a social media marketing tool is influenced by the fact that the site offers a massive market that could be utilized. The site has been in existence since 2004, making it the oldest significant social media network to date. The number of users has surpassed the 1 billion globally. This provides a massive business opportunity in regards to market reach. In an argument by Ray (2013) the use of Facebook as a marketing tool provides a business with a massive and significant market population.

The author further asserts that the market concentration at one place makes marketing simpler (Ray, 2013). These forecasts have been reflected in the family business. On a daily business, our Facebook page is viewed by at least 15 people. This depicts the effectiveness and simplicity of using Facebook as a marketing tool. In addition, out of the 15 views, five people contact us on the availability and description of our products. The trend has significantly increased the size of the target market and consumer population.

From the site, we are able to acquire consumer feedback on how we could improve our marketing approaches as well product and service quality. Consumer often feel friendly enough to develop personal interactions. To understand the effectiveness of Facebook in business, one should understand the prevalence of its usage. Firstly, the social network has an estimated 700 million active users) (iMarketing Factory, 2011. From the population, each active user spends an estimated time of 50 minutes daily in the social network site (iMarketing Factory, 2011).

Moreover, the active Facebook user has an average of 130 friends. Consequently, their interactions would be visible to more people. From a business point of view, this is a massive opportunity for brand education and development. This exceptional opportunity is not emulated by any other marketing approach (Ray, 2013). To capitalize on the opportunity, my family business occasionally updates its Facebook page to increase interest and relevance. This has increased the level of our interaction thus attracting more people who could be interested in our organization.

Conclusively, the cost of using Facebook is relatively cheaper comparing to other marketing approaches. The main costs incurred in the venture in our organization are the expenses used in creativity and content development. Expenses are also used in the occasional updating of the page based on desired trends by the market. Regardless of the financial requirements, the benefits of Facebook in our business has been exceptional. With our growing page, our products and services are acquiring more fame and recognition in the highly competitive market.

Blog Analysis In this blog by Word Press (2010), the author recognizes the opportunity Facebook presents to businesses. The blogs highlights the ease of operation, network popularity, efficient and fast consumer engagement, cheap and connections to other websites as benefits of using Facebook as a marketing tool. ReferencesRay, R. (2013). The Facebook Guide to Small Business Marketing. New York: Wiley. The Importance of Facebook on Small Businesses. (2011). iMarketing Factory. Retrieved from http://www.

imarketingfactory.com/facebook/Why is Facebook chosen as an advertising and promotional platform? (2010). Wordpress.com. Retrieved from https://facebookbusinesstool.wordpress.com/2010/06/11/why-is-facebook-chosen-as-an-advertising-and-promotional-platform/