Impact of Social Media Marketing on Business Revenue - A Report on Nike

This report analyzes the impact of social media marketing on business revenue, focusing on Nike. It examines the concept of social media marketing, its impact on business revenue, and recommends implementation techniques.

Project Proposal and Report
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Contents
INTRODUCTION...........................................................................................................................3
Findings -.........................................................................................................................................6
REFERENCES..............................................................................................................................10
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INTRODUCTION
Background –
Social Media is an important tool for making the business work on the scales of growth
and development. Through social media business is able to seek the benefits of creating the
products and services which are to be made available to customers or people on social media
sites. Social media marketing is defined as the process of making the business work with
effective and efficient business idea (Li, Larimo and et.al., 2021). As social media is also helpful
in promoting and branding the products and services of company, it makes easier for business to
reach their desired goals and objectives in less than no time. The social media marketing is done
through Facebook, Instagram, Twitter, Pinterest etc. These social media channels help in making
the products and services of company reach large customers base which also fulfils the needs and
requirements of customers effectively and efficiently. Therefore, social media marketing is an
important tool which also initiates the advanced technology being used in developing and
making the products reach the customers on large scale. Social media marketing in long and
short term is essential for business to carry forward their ideas and make products and services
reach to customers and people in need of.
Aim – To analyse the impact of social media marketing on business revenue - A report on Nike.
Objectives -
 To evaluate concept of social media marketing
 To examine impact of social media marketing on business revenue
 To recommend ways of how social media marketing techniques can be implemented
Literature Review
Theme 1 - Concept of social media marketing
According to Jacobson,Gruzd and Hernández-García, (2020) states that social media
marketing is one of the current and trending form of marking wherein the marketing function is
being performed with the help of social media. This means that when marketing is performed
over the social media then it will be referred to social media marketing. Social media marketing
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is a concept which also leads to managing the social media platforms like Facebook, Instagram,
Twitter, Pinterest etc. The social media platforms helps in making the business and the name of
the company reach large customers base. This also creates a positive impact on generating the
finance through these social media handles which are being operated for business concerns.
Therefore, the concept of social media marketing is helpful in promoting and branding of the
products and services in the market so that the business achieves success significantly and
efficiently.
As per Duffett, (2017) also illuminates that an involvement of social media platform and
its sites in the marketing operation of business then it will be termed as social media marketing.
Here instead of performing the marketing function physically, it is being performed over the
social platform with the aim of spreading it throughout the target audience effectively, efficiently
and significantly.
Theme 2 - Impact of social media marketing on business revenue
As per Pütter, (2017) said that social media marketing has a major positive impact over
the revenue of the company. This is because with the help of social media marketing a major
section of population is easy to address within a short period of time. Likewise, due to having a
broader coverage of social media along with its wide usage by the people it would be easy and
beneficial for the companies to perform their marketing along with raising their revenue. Since,
marketing through social media will raise and attract the customer towards the company and as a
result of that more revenue is being raised and generated by the company. Social media helps in
generating revenue on large scale. More the customer engagement on the social media more the
revenue will be generated. This will increase the company’s financial base and will make realize
the revenue structure is made up-to-date or not. Social media not only impacts business in many
forms but also induces the increase in revenue as business is operating on social media platforms.
Therefore, social media influences and impacts the business in many ways which helps in
generating the revenue for the business effectively and efficiently on verge of growth and
development.
However, on a critical note Zahoor and Qureshi, (2017) argued that social media has an
adverse and negative impact towards the company and its revenue. this is because any negative
and adverse comment by any individual over the social platform may lead to have a severe
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impact over the brand image of the company and as a result of that company’s revenue will
decline. This means the wide network and coverage of social media may lead to affect and
damage the brand image of the company and as a result of that its revenue would also be affected
at greater scale.
Theme 3 - How social media marketing techniques can be implemented
According to Zuhdi and et.al., (2019) elucidates that there are various modes and means
by which social media marketing can be implemented by the company. However, the best
method and technique that can be used includes building up of company’s pages over the social
platform so that the customers would well aware of the company and its products. Likewise,
focusing over social trends and accordingly selecting the best social media platform company
can implement its marketing strategy through this medium. Social media techniques helps in
developing the scales of how technology has advanced its ways of communication with the
customers through different social media channels for marketing of products and services.
Along with this, the techniques have initiated the entrepreneurs and the business persons to make
their presence on the social media platforms so as to seek large number of customers and with
that they are able to fulfill the daily requirements and needs of the customers.
As per Shareef and et.al., (2019) also said that an inculcation of the social media application
would also lead to the implementation of this concept within the marketing of the company. As
per this technique company’s by having a market analysis can create their account over the social
media application including Facebook, Instagram, YouTube, twitter and various other. Creation
of account and publishing of company’s information and its product and services information
would lead to the marketing of the company. With the help of marketing of products and services
company will be able to make customers’ requirements meet significantly.
Research Methods -
To conduct a research, it is important to select proper methods in it. Thus, for present study
as well the methods used are described as below –
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Research approach
This means process that is applied in gathering dataa. Basically, there are three research
approaches used that is quantitative, qualitative and mixed. In quantitative only recent facts and
figures are gathered and analysed (Alase, 2017). But in qualitative, data and info related to topic
is gathered and examined to understand in depth. The mixed approach uses both methods.
Hence, in this research proposal the scholar will use the qualitative approach
Research Technique
Questionnaire is an important part of the research techniques which is being used in this
report (McCraty, 2017). The research technique which is used in this research project is framing
of questionnaire. The questionnaire will help in finding and analysing details of topic. Through
questionnaire, many questions will be answered and this will result in overall assessment of the
project or the report.
Data Collection
The process where info is used from various sources to search answers of research
question and interpret outcomes (Mkandawire, 2019). There are two types - primary and
secondary data. Primary data collection refers to gathering of data for first time. This is done via
questionnaire, interviews, surveys, focus groups, etc. In secondary data previous data is collected
from articles, journals, etc. to gather more info about topic. In this study, researcher will use both
primary and secondary data collection methods. This will help in making information check
twice.
Findings -
It can be found that there are many companies which are using social media marketing. This
is helped them to reach large number of people. Moreover, there are many social sites which is
used by brands in order to promote and advertise their products and services in market (Gavino,
and Smith, 2019). In addition, social media has allowed them to enter in new market and attract
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new people. With that firm is able to find out trends in market and also taste and needs of
customers.
Moreover, it has been found that use of social media has resulted in developing strong
relation with customers. The brand is able to engage with them and take feedback of products
and services as well. Social platforms have allowed firm to connect and engage with customers
directly. Along with it, social sites have enabled in providing data and info to brands by which
they are able to do data analytics and then take effective decisions. In addition, customers are
easily able to do find out entire info on social site of products. With that it has become easy for
them to take decision.
It is also analysed that use of social media marketing has resulted in reducing cost of
marketing as well. Now, brands are highly focusing on using social sites in order to generate
more leads and attract more customers. Hence, there is complete shift in use of social platforms
rather than traditional marketing techniques. This is an effective and easy way to promote and
market products. This has led to rise in sales and increase in profits as well. With social sites
awareness is also generated in market about new products (Cole, DeNardin, and Clow, 2017).
In addition to it, social media has increased traffic to brand website. There are large number
of new leads being generated from it. Apart from it, for various target audience different social
platforms are being used. This has led to build business sales and reaching target audience in
effective way. The firms also used Facebook to advertise their products. It has enabled in
providing platform to do internet business. Moreover, huge revenue is earned from it. The sales
force is reduced as social media is used. Social media has replaced traditional way of marketing.
It is growing at high pace. With that more companies are now creating strategy of social media
marketing on sites such as twitter, Instagram, etc. they are able to create awareness of products in
wide areas and reach large number of people in quick time and less cost.
The pros of using social media marketing include low costs, efficient and easy to create
word of mouth, a lot of these tools are initiated for making the social media tools effective
enough so that through these they can reach large customers base. It is also found that the
customers are more alert towards any products or services which are provided or seen to them on
the social media platforms. These social media platforms have made doing the business
effectively and efficiently (van Gelderen, Kautonen and etal., 2018). This has also engaged
customers in buying the products which are of use and which provides them sufficient capacity
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of what they actually require. Social media marketing ahs helped in growing the business and has
made base for the customers’ o that they can reach anytime through the channels which provide
them the services and products they are in requirement of. Social media has also proved to be
effective and efficient with the communication techniques as the customers are able to reach and
communicate directly with the business person in charge.
Therefore, the company or the business seeks growth these days through the social media
marketing platforms. Social media marketing has helped in knowing the business strengths,
weaknesses, opportunities and threats on large scale. This has also charged the business for
future challenges which comes in way of their business and through that they are able to compete
with their competitors in market (Cole, DeNardin, and Clow, 2017). Therefore, company and
business which makes most of their revenue and finance are based on the social media marketing
as this form is also trending among youth which have developed the core skills and tactics to run
and understand the business effectively and significantly. Thus, social media marketing has
helped the business reach the success through the points by grabbing most of customers and
people’s attention and have reach the success points which makes sure that company is able to
make desirable goals and objectives fulfil their levels and stages.
Conclusion
Thus, it is concluded from the above research proposal that concept of social media
marketing, impact of social media marketing on business revenue and how social media
marketing techniques can be implemented in the business were identified and research was
drawn on that basis which provided detail information of what and how they can be described
through the eyes of social media marketing. Along with this, aims, objectives, research methods
and findings were made which helped in assuring the data and the information from where they
were carried out. Therefore, the basis of social media marketing was analysed which helped in
drawing attention towards the important aspects in research for business to be done effectively
and efficiently. This made the research more effective on terms that it provided important
information regarding the same.
Evaluation –
It is evaluated from the above research that social media marketing helps the business in
making reach the customers through large platforms which helps in endorsing, promoting and
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branding the products and services of the company (Westhorp, 2018). Through social media
marketing it is evaluated that this is an effective purpose which is being fulfilled by the creating
proper communication channels which helps in developing the base of the business. Therefore, it
is evaluated that the social media marketing is an effective techniques which fulfils the
requirements of both the customers and the company or business. This makes the business
perspective easy and generates the value of how the business is being done for marketing of
products and services in the company. Evaluation step helped in achieving goals and objectives
of where the research is.
Recommendations –
It is recommended from the above research that –
 Advanced technology should be used in the process of making the business work through
the social media channels (Forkmann, Henneberg and et.al., 2018).
 Effective strategies should be framed so that business goals and objectives are achieved
effectively and efficiently.
 Market analysis should be done appropriately so that competing with the competitors
becomes easy.
 Social media marketing channels like Facebook, Twitter and Instagram should be
handled on the scale that they engage large customer base.
Therefore, these recommendations should be considered seriously on a note and necessary
actions should be taken regarding the improvements and changes which are to be done. These
recommendations should help in making the business achieve great heights and increase the
scale of what is known as the social media marketing effectively and efficiently.
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REFERENCES
Books and journals
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