Executive Summary
Social media remains an integral aspect of business in the constant busy world of the 21st century. It has expanded its use to suit the needs of businesses and allowed companies to increase their profits through effective marketing and use of social media influencers. As customers use social media to comment, view, and judge things, companies can tailor-make their brand image in a way that is attractive and appealing to their target market. This is why businesses have cultivated new strategies to allow for redirection and growth towards social media and social media influencers. This paper will discuss the benefits of social media in business, what used to be done with social media in the business world, and what are the latest techniques/findings regarding social media and business.
Introduction
Social media in the last ten years has exploded and expanded to include a host of websites and apps. What seemed like niche market with very little advertising consideration has grown to become a main way for businesses to market themselves and increase customer brand awareness. Some of this had to do with the smartphone and the ease with which customers could interact with companies and each other to spread around certain company advertisements or inspired trends. An example of this is in Instagram when social media influencers feature a beauty product and create a trend amongst Instagram users to use that product, increasing sales for the company that produces it.
It does not simply happen on Instagram. Social media has also come to include the website YouTube where social media influencers can be sponsored by companies to promote a product in one of their videos. Because these social media influencers have millions of dedicated fans viewing their videos and buying recommended products, companies end up gaining sales and better profits versus not appealing to these social media influencers. Because social media has grown and become what it is, it is therefore a key means of businesses to market to consumers in the hopes of growing their customer base without spending as much money as they would via traditional methods like commercials on television networks. This essay will discuss past and current methods for businesses that use social media.
Previous Approaches
Myspace used to be a great way for companies to showcase their brand through advertisements. However, that was quickly replaced by Facebook Facebook became the main means of communicating to social media users through targeted advertisements and general advertisements placed on the website. Another website, Twitter, became a great way to communicate with customers. Aside from advertisements, businesses could open a Twitter account and have employees talk to customers, especially if they have a complaint of the business’ product or service.
A good example of this is American Airlines where customers can tweet a company with a concern receiving a prompt response without having to call and wait on hold. Not only did Twitter become a great way to connect with customers new and existing, but it also became a primary way to gather data on potential customer interests....
References
Bousquet, K. (2016, April 5). 5 Brands That Can Credit Their Fame to Social Media. Retrieved from http://www.thegloss.com/beauty/social-media-fame-makeup-brands/
Chae, B. (. (2015). Insights from hashtag #supplychain and Twitter Analytics: Considering Twitter and Twitter data for supply chain practice and research. International Journal of Production Economics, 165, 247-259. doi:10.1016/j.ijpe.2014.12.037
Chaffey, D. (2017, April 27). Global Social Media Statistics Summary 2017. Retrieved from http://www.smartinsights.com/social-media-marketing/social-media-strategy/new-global-social-media-research/
Faircloth, K. (2016, April 28). Inside the Big Instagram Business of Shilling 'Detox' Teas. Retrieved from https://jezebel.com/inside-the-big-instagram-business-of-shilling-detox-tea-1773585005
Social Media - a New Kind of Security Problem in Business The Newest Threat to any Business: Social Media Social media is one of the most significant changes that has come about in communication today. However, it can also have serious implications for business and for the privacy and protection of businesses and employees. Overall, social media is not something that can be ignored by businesses today, because it can offer worries
Social Media your purchase. With the advent of social media websites, many business administrators struggle to implement a workable and feasible approach of implementing social networking sites into their business models. Managers and consultants must work collaboratively to identify sound means of incorporating computerized technologies that support and foster profitable utilization of social networking sites such as Facebook, Twitter, and YouTube. Yet, despite the widespread and pervasive consumption of social media,
She argues that small business owners need to become better-educated about what social media is, how it works, and why it is so appealing to consumers. By understanding the nature of social media's success, perhaps through the Kietzmann honeycomb framework, the problem of small company marketing disadvantage can be overcome by using social media. Smith and Zook (2011) argue that companies must make social media a centerpiece of their marketing
Business and Social Media -- A case of Cameron's Coffee Social Media Definition and Use of Social Media Social media and how businesses use it Big Data Definition and Use of Big Data Big data and Businesses uses Cloud Computing Definition and Use of Cloud Computing Cloud computing and businesses use Social Media Definition and Use of Social Media The collection of internet based online communication channels that are dedicated for community based input, content sharing, interaction and collaboration is broadly defined
Social Media and the Red Shirt Revolution Most scholars are in conflict with regard to the subject of revolution in the age of social media. Until now, revolution has been considered a top-down process. In Thai situation, things might have been different. The Red Shirt Revolution in Thailand was one of the first of the "Twitter" revolutions, that is one that was fueled by social media and Web 2.0 technology. Since
social media is a hype these days which has enabled businesses to actually change the way they operate. Social media networks especially Facebook, Linked in, Twitter and now Google Plus have enabled businesses to reach out to those people with whom they want to build long-term customer relationships. A lot of research has been carried out to devise the impact that social media has on businesses. This has enabled
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now