The Role of Social Networking Sites: EG Virgin Media - Literature review Example

Social Networking Name: Instructor: Course: Date: TABLE OF CONTENTS 1.0 Introduction 1.1 Selected business: EG Virgin Media 1.2 Current social activities and their success 1.3 Setup and structure of the business resources to support social networking growth 1.4 Social presence is used in conjunction with the other offline and online 2.0 Methodology 2.1 Results 2.2 Advantages of social networking sites 2.2.1 Convergence Surfacing 2.2.2 Cult of Influence 2.2.3 Gratification 2.2.4 Sharing 2.2.5 Social Television 2.3 Disadvantages of social networking sites 2.3.1 Time consuming 2.3.2 Negative Influence 2.3.3 Insecurity of Information 2.3.4 Hacking 2.3.5 Health Problems 3.0 Financial rewards for investing in Social space 4.0 Time-plan and the resources required to embrace channels at EG Virgin Media 5.0 Strategy 6.0 Conclusion 7.0 Recommendation Social Networking 1.0 Introduction In a rapidly globalizing world, the continued development of technology continues to connect people and enable them interact irrespective of where they are, and at any time. From the development of mobile phones to the generation of optical fibre signals and networks, the world has become a global village. In the social world, the development of various social networking platforms have taken the world by storm and revolutionarized the way people do their daily activities including business enterprises. As Wasserman & Faust (2004) notes, many business entities have now turned to social media to advertise their products and services. However, it is paramount to define social networking, analyze its role in the business world, and compare its advantages to disadvantages. In order to understand the role of social networking sites, we select the business of media and advertisement and in particular analyze the social networking sites of EG Virgin Media, the role they play in media and advertisement, and their impacts in business development. 1.1 Selected business: EG Virgin Media The deployment of social enterprise sites has indeed enabled Virgin Media to achieve these objectives. According to the executives at Virgin Media, the company had been searching the modalities of amount of time the employees spend traveling from one destination to another, and instead transfer that time into working or staying at home. By developing the social networking sites, Virgin Media hoped to link all employees in order to discourage the torrent of emails inundating in countless inboxes (Rainie & Barry 2012:74). Through the social collaboration tools adopted by Virgin Media, the employees can work from anywhere and at anytime (Nigel 2004). 1.2 Current social activities and their success A social network is a social platform that enables organizations or people to link each other. It creates ties between actors—individuals or organizations—who have a common agenda to pursue. Social networks are imperative in that they provide a channel of analyzing all social activities such as global business patterns, world influential entities, and other global dynamics. According to Kilduff & Tai (2003), social networks and analysis is part of very many academic disciplines where students and people already working study the impacts of these sites in business portfolios. In order to understand social networking more, it is paramount we take a study the social networking platform of EG Virgin Media. This paper will assess the advantages and disadvantages of EG Virgin Media in building a social networking plan for improving its social presence. Consequently, this will enable us to recommend methods and approaches to promote products and services while building an excellent communication channel with customers. 1.3 Setup and structure of the business resources to support social networking growth In the business world, social media continues to play a significant role in integrating businesses. There is no doubt that many business entities are now turning their attention on social media to move their businesses forward. Some have even proposed to increase budgetary allocation on social media for the benefit of the organization. On the other hand, on realizing their importance to business enterprises, some popular social networking sites such as Google Plus are striking back (Wasserman & Faust 2004: 1-20). 1.4 Social presence is used in conjunction with the other offline and online Undoubtedly, social networks continue to play a significant role in the lives of many people. In fact, EMarketer indicates that, by the end of 2012, there will be over 1.44 billion people in the world using social networks for various reasons. According to Freeman (2004), this represents and increases of 19.2 percent up from the figures of the previous year. 2.0 Methodology In order to pick the best social networking site for a business plan, it is vital to carry out research. Due to the nature of the study, qualitative research methods, and in particular, online interviewing is possible here. This study uses interviews to collect data on the most efficient social networking site. 2.1 Results 2.2 Advantages of social networking sites Social networking sites such as Facebook and Twitter have become so common in business advertisement and strategy. They have created a forum where business entities engage the buyer directly hence changing buying the buying behavior. Below are some of the impacts created by social networking sites. 2.2.1 Convergence Surfacing The integration of real life and social life is on the rise. From the statistics, very many companies such as Coca Cola and EG Virgin Media are busy enacting strategies that assimilate customers to their products. For instance, in 2010, Coca Cola came up with an ‘amusement park’ advert that could allow customers to swipe their RFID cards at the nearby kiosks for a discount on the products they purchase. In order to spread this information, the company decided to use Facebook as a medium of communication. On the other hand, EG Virgin Media has also made marketing campaigns using Twitter (Virgin Media Limited 2011:1). 2.2.2 Cult of Influence Social networking sites have a great influence on the choices that people make. 56 % of the respondents at EG Virgin Media have opted for social networking to improve its entrepreneurial activities. Just like Google, which developed a system of awarding those who use their platform for business purposes, EG Virgin Media is also employing the same tactic to reward those who are active participants on their social Web. In a way, this is creating a huge social influence (Institute of Internal Communication 2011:1). 2.2.3 Gratification Social networking sites perform the role of quenching the thirst of individuals or businesses. According to Gaudin (2012), people and organizations are now adopting new strategies to perform their activities through social media. Talk of the social apps in some mobile devices and browsers, companies now understand the art of bringing the campaign massages at the doorstep of customers. There is no doubt that social media through networking sites are the powerful library of information to customers and all those interested in online purchasing. 2.2.4 Sharing If there is one big impact that has arisen from social media, then it is sharing. People and organizations can update about anything on social media. Wasserman & Faust (2004) asserts that in social media, organizations and people shape opinions, share ideas, and inform. When it comes to sharing anything, the social media world became the first to know the meaning of sharing. Social sharing is paramount in that people can share information regarding e-commerce or web transactions. For instance, EG Virgin Media allows customers to view their products and even compare the prices from other competitors before making informed choices. 2.2.5 Social Television Across the world, many people are addicted to watching television. To them, this has become a social act, and they do not shy away from texting, tweeting, of making a Facebook update about their favorite TV programme. Just like television, social media is also creating a huge impact in information sharing. For instance, EG Virgin Media has when gauging the authenticity of their social programs, allows people to vote via Twitter. 2.3 Disadvantages of social networking sites The choice of networking sites for social networking plan will determine whether the social collaboration tools used by a company will be of use or not. We have seen the advantages of using social networking sites such as connecting people, sharing of interests with others, medium of advertisement campaigns, and an information exchange platform. However, it is paramount to note that not all sites are helpful to businesses and some can even collapse a business. 2.3.1 Time consuming If one is not careful, social media can consume a lot of time than expected in marketing or advertising of products. The worst part is that if the advertisement does not catch the attention of buyers, then the individual or firm will suffer insurmountable losses (Lee & Kim 2011:1). 2.3.2 Negative Influence At times, social media can lead to bad influence especially the one related to work efficiency. We have seen many employees lose their jobs just because they abandoned their roles and opted to be on Facebook or Twitter, chatting things that are not useful to the company. In some instances, employees can dent the reputation of a company through social media. 2.3.3 Insecurity of Information Highly sensitive professions that require security of information run the risk of information leakage in case an employee decides to do so. Leaked information can be n ammunition to business competitors or even cause serious ramifications in the hands of the enemies (Manny 2011:1). 2.3.4 Hacking This is one of the most disadvantages associated with social media. Not once, many companies have reported cases hacked Facebook or Twitter accounts. Therefore, in choosing the right social collaboration tools, companies will have to pay more social engineering skills. In case the hackers decide to create fake social security identities, many customers will become victims, and this will dent the reputation of the company. However, proper securing of the social media account will discourage fraudsters for the benefit of the company. 2.3.5 Health Problems According to The Research Pedia Analysis (2012), the wrong use of social media can cause physical and mental problems. Therefore, people must use social media for the right purposes lest it cause serious detrimental health conditions. 3.0 Financial rewards for investing in Social space Many companies are now realizing that social networking sites have a huge economic impact and that it is worthy adopting them. There is an increasing wave of social approach with an aim of solving looming business problems. Some popular sites such as Kickstarter are there to solve financial difficulties of people who have no means to start their projects (Freeman 2004:1). 4.0 Time-plan and the resources required to embrace channels at EG Virgin Media Different business enterprises use different social platforms such as marketing in a generation that is slowly climbing the ladder of digital naivety. Thus, in order to create a good social media that appeals to many people, it is paramount to consider several things on a time plan. Start the media plan by showing statistical prowess and endorsed contents. This will create a picture of a big media platform. Some of the nuggets to include are Facebook, logger, Twitter, and Wikipedia. This will take a few days. Secondly, define the social media you want to create that has the best parameters and exciting. This will first get the attention of the people as it is a user-generated content. Next, the company will list the tangible goals and objectives. You need to make people understand your ideas, products, relationship with clients and influencers. There is no doubt this will increase traffic, generate sales and leads, and enhance SEO rankings. The next thing is to allocate time for each activity. The activities can be so many depending on the business plan. Setting realistic objectives is the next step. The developed social networking site must serve real its purpose because it is not a panacea of entertainment, but rather a marketing tool. Sixth, the need for resource to train staff and buy other assistive technology equipments sets in. Next, after all of the above is done, it is now time to appoint those who will work on the developed platform to enhance curiosity, integrity, vision and communication. Lastly, it is now time to unleash the platform into online space both for customers and competitors to view and participate. 5.0 Strategy EG Virgin Media employs over 20, 000 people across United Kingdom. However, not all of them are conversant with the social networking sites. The reason for introducing the social collaboration sites was to align all employees to social integration. They believed that through Twitter and Facebook, employees could receive instant updates, information, and messages. Armano (2011) notes that through such sites, employees can be able to video chat and write blogs. Social networking sites also create the best tool of engagement and enhance purchasing behavior. 6.0 Conclusion There is no doubt that social media plays significant roles in the lives of human beings. Many businesses enterprises are turning their attention to the media in order o meet their objectives. However, the choice of the right social networking site will influence the success of the chosen social collaboration tools. 7.0 Recommendations Looking at how EG Virgin Media has become successful in using social networking sites such as Facebook and Twitter; it is quite recommendable for other business enterprises to adopt social networking sites as marketing tools. As seen above, the advantages of social networking in online space seem to overpower the disadvantages. Importantly, these disadvantages are avoidable meanings that just like EG Virgin Media; other companies can follow a leaf and implement social networking sites in their business plans. Notably, the influence of social media on business enterprises continues to rise each day. The cult of influence on social networking will continue to positively impact many business models, and those that adopt them will leap big benefits, and place them in the global map. References Armano, D. (2011). Six Social Media Trends for 2012. 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