Social media has evolved into a vital and influential virtual space used not just for social networking but also for digitally marketing company products. Companies can use social media to magnify their message and reach a larger and more diversified audience while also increasing their degree of exposure. As a result, social media can be defined as a way for individuals to collaborate and connect in virtual communities through social discussion and user-generated content. This paper will address the role of social media in businesses and the issues related to social media marketing implementation. The paper will also go through the many social media platforms accessible today, the associated benefits and tools used in social media measuring.
The Role of social media For Business
Social media allows businesses to reach out to the general population for advice on issues and decisions that affect them. According to Mark Schaefer, social media has evolved into the most admired media for marketing. A significant number of people may be impacted in seconds by publishing an ad to reach the intended target audience. Mark Schaefer recognizes the importance of the social media platform for business and brand promotion. It allows businesses to engage directly with customers, increase brand awareness, attract a target audience, and increase sales. Because individuals log in to it daily and are exposed to the brands, it is a fantastic and straightforward approach to attract consumers to products and services. Therefore, social media provides a crucial platform for businesses to sell their services and products efficiently.
Delegate your assignment to our experts and they will do the rest.
Businesses can advertise their items on social media because it offers them a large online market. Facebook, YouTube, Twitter, Linked In, and Instagram are among the most popular platforms. It is believed that 80 per cent of businesses use social media to share their content (Sheth, 2018). Use of these platforms efficiently and utilizing their potential results in a more effective marketing strategy. People are not interested in firms that post unrealistic and false material; thus, firms must present their honest and original information. Customers will choose companies that keep their items up to date and only discuss what is currently available in their business. Customers will despise a company that advertises what it cannot deliver, and the company will lose customers. On the other hand, if a firm follows through on its social media advertisements, customers will receive their purchases, which will boost their loyalty to the brand.
Leaders, executives, professionals, and practitioners should successfully communicate with their customers via social media. Social media is critical for improving consumer communication and enabling the blending of social interactions on e-commerce sites. Mark believes that social media marketing helps customize a company's brand and distribute messages comfortably and conversationally. Business owners should make the most of this excellent opportunity to share their knowledge and create contacts. Businesses can use social media to promote what they have to offer and what they are renowned for. That is important for companies and leaders because it allows them to give exceptional services and goods.
Both small and large businesses can benefit from a social media marketing approach that is affordable and productive. It is necessary to employ the appropriate advertising strategy. Once a company has a large following, it can shift its focus to using alternative tools to reach a more specific audience (Kreutzer, 2018). Most social media sites enable direct access to a company's website by simply clicking on offered links. Businesses can also obtain essential information about clients through social media, leading to and assisting in making efficient business decisions (Sheth, 2018). That could involve making improvements to select items, offering alternatives, or modifying product characteristics to suit customers' preferences better. Businesses can earn loyal consumers in this fashion, and these loyal consumers can help firms advertise their products by sharing their experiences with others.
Questions when implementing a social media marketing strategy
As a manager, I am likely to have several questions before implementing a social media marketing strategy. The questions are crucial because they will allow the management to rethink and change to ensure that the implementation is successful.
The first question is whether or not the organization has the necessary resources or budget. The actual cost of executing social media is determined by the campaign's size and reach (Tafesse & Wien, 2018). To provide a clear representation of which type of social media technology to use, organizations must evaluate various prices. On the other hand, most businesses choose to adopt all social media technologies to improve their business landscape. External feels, Staff costs and advertising costs should all be considered to arrive at an anticipated cost. However, because the significant value of social media is consumer involvement, company managers should prioritize implementing social media platforms within the organization's expected budget.
The timescales for implementation would be the next question. Every project has to adhere to a set of deadlines. Both management and stakeholders must be consulted when implementing an effective social media strategy. According to Agarwal and Garg (2018), effective businesses have existed throughout history because project goals were understood. This question allows the management to reflect on the marketing exercise's objectives. Furthermore, project enforcers must consider the diversity of stakeholders and the level of support technology required. Social media networks such as Twitter, Facebook, and LinkedIn are inexpensive and straightforward to use.
Another question is what challenges are expected during the implementation process. Impatience is linked to social media, and it shortens the duration of time the employee will remain attentive (Jackson, 2020). Employees who utilize social media have created a self-centered culture, which has a detrimental impact on job engagement. Job engagement, which used to be defined by a connected absorption that caused people to be so engaged in their work that time seemed to fly by, is now changing. Employees are becoming engrossed in social media to the extent of distancing themselves from their jobs. The high level of involvement connected with social media facilitates internet misuse. When employees use social media sites, they are more likely to acquire addictions, leading to disorders. Depression, sexual difficulties, and loneliness are examples of such problems, resulting in employee social media productivity (Jackson, 2020). This question is critical for the manager and the company because it will identify predicted setbacks and design effective countermeasures to address the issues.
Another critical question to consider is advantages of implementing a social media marketing strategy. Employees have had a mixed attitude to the use of social media. Employees must be informed about the advantages of using these tactics. Employees must be aware of the benefits the implementation will have on their daily job activities and the services directly related to the organization. Some people believe that using social media technologies has no benefits, while others believe that using social media platforms can be time-wasting (Tafesse & Wien, 2018).The concern about these implementation perceptions must be addressed, as the organization's personnel will play a crucial part in the implementation process.
The other question for consideration is whether or not training should be provided before implementation. Organizations must search out motives to encourage their staff to use social media more frequently. Organizations choose to teach their workers to protect their brand. As a result, companies want their employees to portray themselves online in ways consistent with the company's brand and policies (Lumbanraja et al., 2019).The management and the business will benefit from the training since all stakeholders will understand their duties, publish, and post on their social media platforms while interacting with their customers.
Major social media platforms in use today
A social media platform is both a web and mobile internet-based program that allows users to share, create and access the content. At the stroke of a button, these platforms enable families, businesses, and organizations to interact with ease. In 2020, 3.96 billion people worldwide were actively using social media, up 10.9 per cent from 3.48 billion in 2019 (Jackson, 2020). That indicates that the rate of social media usage increases, which can be ascribed to technological developments and increased internet access via mobile phones.
Among the most popular social networking networks, Facebook is the most advanced platform, allowing users to reach their target clients for free or at a moderate cost (Blair, 2017).The platform has many marketing potentials because of its quick expansion, worldwide and local character, and advanced applications (Kreutzer, 2018).Within site, users can send messages to others in a variety of methods. Organizations develop profiles and corporate accounts to contact online consumers, and millions of individuals use Facebook applications and services. Advertising on the site is inexpensive compared to print or broadcast media because of the large number of users. That means that a firm can reach out to more customers through a group or a page, thereby increasing sales and information sharing.
YouTube is another popular social media tool. YouTube allows users to share video material through subscriptions or without them. The uploaded content can be viewed and evaluated by users and visitors. Registration is necessary for the content upload; however, it is not required for viewing. Users can provide comments, likes, and dislikes on the stuff they've seen. YouTube is ranked second most popular and is one of the most popular search engines (Blair, 2017) .The content uploading is free, but the uploaded content will contain promotional content. Many firms employ YouTube marketing since it is incredibly effective. Organizations can utilize the platform to market or launch products, provide customer service, convey brand "personalities," and track feedback thanks to its capabilities and popularity.
The Twitter platform allows celebrities to communicate with their followers in a timely and efficient manner. It's also a great tool to promote events and run internet marketing and advertising campaigns. With over 330 million monthly active users, employing Twitter for business marketing might be a wise choice (Blair, 2017). Social media marketing in Twitter is effective, specifically for firm’s attempting to engage local clients. Twitter can help businesses communicate with customers and promote their brand if used strategically. Regardless of the type of business a company is in – B2C or B2B – Twitter can locate target audiences and form meaningful interactions with them. These ties aid in the development of a loyal consumer base.
Available social media measurement tools
By extracting information from social media channels, social media measurement tools provide a technique of measuring a brand's or company's popularity. A significant social media analytics tool differentiator has a straightforward means to verify what is at the heart of a particular analysis. Brands and agencies may use social media analytics to move swiftly and remain ahead of the competition. And that assurance comes from knowing that their customer and market intelligence is correct, which is only achievable when the data is available.
There are a variety of social networking tools to take into consideration. First, businesses can utilize Klout as a measurement tool to determine their online influence. Klout is a personal influence evaluation tool available online. Klout analyzes the value of an organization's participation in social networks such as Twitter, Facebook, and YouTube using proprietary algorithms and assigns a numerical score based on such engagement (Fernandez, 2018). Klout uses data points, retweets, follower accounts, and list membership (how influential the individuals who retweet the account are), and notable mentions to determine impact: the more precise the outcomes, the more influential the company's marketing plan. A low score shows a lack of effects, and correct techniques must be altered to be effective for the marketing strategy.
Brandwatch is another tool worth examining. It’s a social media analytic tool that monitors billions of daily online conversations, including news, blogs, forums, Twitter, Facebook, YouTube, videos, and reviews. Brandwatch helps businesses and brands better understand customer insights, influencers, trends, and perceptions. This tool is significant because it allows companies to track how people feel about their brand, promotions, and goods (Fernandez, 2018). Organizations can uncover several client issues that may be damaging their brand reputation by analyzing discussions with negative sentiment. Following that, businesses can take the necessary steps to correct the lousy perception and boost brand loyalty.
Economic benefits of successfully implementing social media strategies
Organizations advertise their brands, goods, or services using social media marketing, one of the essential kinds of online marketing. A substantial percentage of internet users make shopping decisions based on social media platforms. On the business side, successfully integrating social media marketing brings financial rewards.
First, social media marketing was successful in promoting increased brand recognition. Any chance you get to improve and raise the visibility of your organization's content is priceless. Social media platforms provide new outlets for brand and content promotion. Customers are always loyal to brands that use social media channels often (Lumbanraja et al., 2019).When it comes to communicating with their audience, businesses should use social media tools. An open and effective social media strategy will be critical in converting clients into brand loyalists.
Second, it leads to a more significant number of opportunities. Every post published on any social media site allows customers to follow that brand. Having a considerable following on these platforms enable a company to access a vast online client base, which leads to new chances .However, it's crucial to note that while not every engagement with the company's products leads to a sale, every favourable contact increases the chances of conversion in the future.
Another financial advantage of social media marketing is that it creates an Enabling Participatory Organizational Environment. Organizations that use social media tools can improve their participatory organizational environment. Web blogs are the most effective technique for this problem. Organizations utilize blogs to provide comments or news on a specific topic. Different sorts of blogs exist; the only difference is the type of information and how it is presented; some serve as personal online diaries (Kreutzer, 2018). This social media technology can be used in several different ways. Most bloggers, for example, upload videos, photographs, and music in addition to links to other relevant media related to the site.
Increased conversions are encouraged by social media marketing, which is a financial benefit. When it comes to increasing the sale of a company's products, social media can help. As a business's website receives more traffic from social media, the organization's conversion rates will rise (Abhyseni, 2018,). Exclusive deals and discounts can be disseminated via social media sites. They can achieve high conversion rates if they can create an appealing proposal and match it with a compelling call to action.
Conclusion
Social media marketing is a vital marketing strategy for businesses. Leaders, executives and managers of various organizations should consider adopting this strategy as it is less costly and beneficial to reaching millions of consumers. Social media marketing, if well implemented, is practical and highly profitable to business organizations. Soon, with more advances in technology, more social media platforms are expected to emerge and will provide an excellent complement to the current platforms, with the aim goal of expanding customer base. It will help organizations with customer’s loyalty and promote their brand recognition.
References
Abhyseni, A. (2018). Benefits of using social media commerce applications for businesses. Social Media Marketing , 221-245. https://doi.org/10.4018/978-1-5225-5637-4.ch012
Agarwal, A., & Garg, K. (2018). Critical success factors analysis for Six Sigma project implementation. Industrial Engineering Journal , 10 (8). https://doi.org/10.26488/iej.10.8.61
Blair, M. K. (2017). Using digital and social media platforms for social marketing. Oxford Medicine Online . https://doi.org/10.1093/med/9780198717690.003.0012
Fernandez, L. (2018). Measuring social media effectiveness. Social Media Strategy: Tools for Professionals and Organizations , 175-196. https://doi.org/10.4135/9781071801338.n13
Jackson, M. (2020). Ethical challenges associated with social marketing communication. Social Marketing and Advertising in the Age of Social Media , 137-156. https://doi.org/10.4337/9781786434678.00016
Kreutzer, R. T. (2018). Social media und social-media-Marketing. Social-Media-Marketing kompakt , 1-19. https://doi.org/10.1007/978-3-658-21147-9_1
Lumbanraja, P., Lubis, A. N., & Hasibuan, B. K. (2019). What makes entrepreneur use social media marketing. Proceedings of the 2nd Economics and Business International Conference . https://doi.org/10.5220/0009329306580664
Mark Schaefer on best practices for developing a strong personal brand . (n.d.). The Employee Communications and Advocacy Blog. https://blog.smarp.com/mark-schaefer-on-best-practices-for-developing-a-strong-personal-brand
Sheth, J. N. (2018). How social media will impact marketing media. Social Media Marketing , 3-18. https://doi.org/10.1007/978-981-10-5323-8_1
Tafesse, W., & Wien, A. (2018). Implementing social media marketing strategically: An empirical assessment. Journal of Marketing Management , 34 (9-10), 732-749. https://doi.org/10.1080/0267257x.2018.1482365
