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Role Of Social Media In Retail

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Social media in the Indian retail industry continues to thread its way into the fiber of reaching out to all the organizations across the industry. There are many firms that are still lagging behind when it comes to using social media as an organizational strategy in the retail industry in India
In the past, developing a social media strategy and an online relationship with the customers was considered as a means to get a competitive advantage over its competitors; now it’s the basic requirement of doing business.
The 21st Century is an Information Age. It is where every organization is trying to penetrate into the online medium to facilitate a higher performance for the organization.
“Strategy” has become very crucial to survive in the highly …show more content…

But every now and then something with potential to change the business environment comes to the forefront. The business world is not immune to any impact that may arise. Social media is one such phenomenon. Social media which is sometimes referred to as social networking and Web 2.0 refers to collaboratively produced and shared media content and to network communities. The users of social media have the ability of sharing their views and encounters. This assists in creativity, open communication and sharing of knowledge among users. Facebook, Skype and discussion forums are examples of social media tools (Tapscott and Williams, …show more content…

Because it is much easier to experiment with social media than traditional media, companies can test and learn quickly. Also, social media execution costs tend to be much smaller than traditional media, so the losses from failures are less severe. By experimenting with social media, companies can more accurately determine which social media posts and campaigns have the greatest impact on their marketing strategies—helping to further integration efforts.
When social media is integrated with the company’s marketing strategy, the company’s management of its customer and brand assets is seamless. Strategic elements such as segmentation, targeting, positioning, and all go-to-market activities reflect a clear and consistent understanding of the value the company offers to its customers and how the company seeks to capture value from attracting and retaining these customers over time. The result of social media integrated into marketing strategy is improved efficiency and effectiveness in all aspects of the marketing

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