This can make huge effects on marketing and business success because there are a number of people, especially teenagers, who follow famous people in social network. In conclusion, social media is a necessary tool for marketing strategy. Marketing teams can interact with customers by receiving some feedbacks. Those comments can persuade other new customers about our products and services through social media. Additionally, social media is a convenient channel for people to access.
The plan was to approach this work from it historical development to its modern day perspective. In the decade of information systems, social media has played a vital role in transforming business and communications. Through the social media and networking the business entity will grow in fastest way. Now a day, many social networking sites have emerged to easily interact with people that share common interest in music, education, movies and text etc. This is effected how the businesses conducted their transactions and advertisements and their products and services.
Furthermore the emergence of social media on private individuals and on corporate organizations usage indicates that in a corporate environment the usage of social media requires strategic management, which leaders need to undertake for effectively achieving their goals and discovering the fundamental potential of the tool and thus obtaining a competitive edge in business. This is also noticed within politicians and celebrities promoting their brands and images by communicating to their followers through social media. As Lewis, (2010) mentioned that social media has developed into an important company
Businesses are beginning to use social networks as a means of marketing. Unfortunately, many businesses use social networks without full knowledge of how it can impact the business performance. As a result, without the basic knowledge and understanding of social networks and how to use it to engage customers, countless opportunities are missed. Social Network tools have brought about fast change in the way businesses communicate to the public. Technology has created opportunities and brought about interaction and collaboration.
Therefore, one the first hand, we are going to spotlight on the benefits of social media, then we will be telling about its future and anticipating its evolution. First of all, social media has a huge profit distributed on different levels of the society, thus we can count the economic and marketing level, and of course the social level, taking into consideration individuals, families and children. In marketing, where the message has to get to the markets in every possible way, social media is considered as a new modern effective tool. This medium compared to the traditional marketing (like print, television, etc.) is low cost and this is the main advantage of social media marketing according to Weinberg (2009) , since the majority of social media sites are free to access.
This is a new generation of online advertising, through social influence. But before we start, lets briefly explain what social media marketing is. Social Media Marketing Traditional media advertising is losing its effectiveness every day and digital marketing budgets are increasing. The mediums of reaching your target audience have shifted. 47% of people are using ad blockers or even more to prevent additional online
Social media is the highest chance to promote the company or business worldwide such as promoting it in YouTube , live update and even advertisement in all social media. Besides that, most of the famous brand such as McDonalds and even KFC also spread their business through social networking. People are usually interested in purchasing a products through how they commercial it. Other than that through social media, the person can gather more information about customers sentiment and also can run real-time reports about their brand and business. According to Internet Marketing : Integrating Online and Offline Strategies written by Mary Lou Roberts, Debra Zahay, in 2014 shows that 17.2% of spending share of total media advertising worldwide are from online advertising.
Social media is an effective media of communication between the consumers and companies. The companies are using social media for improving consumer engagement and brand lift. This essay gives a brief overview of social media platforms and how effective they have been. It shows that the whole marketing concept has undergone radical transformation due to the social media interaction. The essay ends in conclusion depicting what marketers need to take care in order to have successful social media campaign.
During the literature review it was identified that most of the marketing strategies pertaining to social media fail due to the unattainable and unrealistic goals. Most of the startup companies fantasize about having a larger customer base or remarkable brand awareness within a short period of time. Even though there is no doubt that the internet has made the world a smaller place and that it has widened the horizons for the marketers, it should be understood that social media should not be considered as magic tool that turn the business into a globally recognized company overnight. Setting (S.M.A.R.T) goals/ objectives helps in deciding on the most suitable platform/s to carry out the social media
More so, the availability of different platforms for this purpose is quite wide and as such, these platforms have become useful business tools. Narayanan et al. (2012) have outlined that social networking sites have been on the trend of developing business oriented products that can be harnessed by businesses to ensure that they remain competitive in the global markets. Following this, businesses have thus been positively impacted by the usage of social sites in marketing strategies, customer service, and brand recognition. More specifically, social media marketing by using channels such as Facebook, Google AdWords, and Instagram has provided for numerous channels through which businesses can further reach their customers across the globe.