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Discussion: Social Media Marketing and Customer Needs

   

Added on  2020-03-04

12 Pages2550 Words316 Views
Running head: BUSINESS RESEARCH Business ResearchName of the Student:Name of the University:Author note:

1BUSINESS RESEARCH Table of ContentsIntroduction......................................................................................................................................2Discussion........................................................................................................................................2Social Media Marketing and Improved Consumer Loyalty........................................................3Gain Insights into Customer Needs.............................................................................................4Social Media Aids in Targeting Relevant Audience...................................................................5Use of Blogs in Marketing a Product and Enhancing the Brand Image......................................5Social Media as a Recruitment Weapon......................................................................................6Cost-efficient Marketing Tactic...................................................................................................7Social Media is Time Intensive...................................................................................................7Social Media as a Cost-Intensive Medium is a Myth..................................................................7Social Media Sites Often Lead to Negative Reputation..............................................................8Social Media and Hacking Issues................................................................................................8Identification of Literature Gap.......................................................................................................8Conclusion.......................................................................................................................................9Reference List................................................................................................................................10

2BUSINESS RESEARCH Introduction: The importance of social media in conducting business in a highly competitive world cannever be overstated. While on the one hand, the efficient use of social media sites such asFacebook and Instagram help the emerging companies gain recognition amongst the consumers,it also assists already recognized companies increase their traffic to their official websites. Sincethe inception of social media sites, these sites have been utilized by the business organizations tobuild relation with the consumers and keep them updated about the new products and services.However, presently, the advent of professional sites like LinkedIn has also simplified the job ofthe Human Resource Managers of an organization, helping them attract talented workforcewithout spending huge amount of money or long hours tryng to get in touch with the deservingemployees. There can be no gain stating the obvious fact that social media marketing is no longer anoptional matter, but an integral marketing strategy. It is indeed an essential way to reach out tothe customers, gain valuable insights about their attitude towards the brand, and build the brandreputation (Aral et al. 2013). However, despite the potential advantages of social mediamarketing, there are certain intricacies of social media marketing which can prove to be hard andchallenging to manage. For example, lack of security on the information shared on these sites,difficulty in controlling negative feedback of clients, and time-intensive marketing procedurerequires much supervision over the social media activities. Hence, there are both advantages aswell as serious disadvantages behind the use of social media. Discussion:

3BUSINESS RESEARCH Social Media Marketing and Improved Consumer Loyalty: One of the principal marketing strategies each organization wishes to incorporate in itsbusiness plan is to attract potential clients as well as to retain the existent customers. However,most of the companies in today’s world encounter cut-throat competition and find it hard toretain its clients. Herein lays the importance of social media marketing. According to the surveyreport by Sensis, 90% of the Australians belonging to the age group of 18to 39 years havedaily access to the social media sites out of which 95% of them use Facebook on a daily basis(Ngai et al. 2015). Similarly, research reports also suggest that in Australia, there areapproximately 5,000,000 active users of Instagram while as many as 14,800,000 people dailywatches videos on YouTube. Figure 1: Use of Social Media in Australia, 2017Source: (Rodriguez et al. 2015)

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