Enhancing Business Skills Through Social Media: Old Penny Farthing Ltd

This report examines the role of social media in enhancing business skills, using Old Penny Farthing Ltd as a case study. It highlights the importance of business skills for effective business management and explores how social media platforms can be leveraged to achieve business goals. The report discusses various ways Old Penny Farthing can use social media, including as a selling medium, a marketing channel, and a customer service tool. It also evaluates the benefits of investing in social media as an advertising platform, citing reasons such as increased visibility, network growth, and improved customer engagement. Specific methods like SEO optimization, newsletters, and social media updates are explored. The report concludes that social media is an essential business skill that can significantly contribute to business expansion and customer acquisition.

Business SkillsBusiness Skills

INTRODUCTIONINTRODUCTION
 To run a business in a effective manner, it is important
to having some business skills.
 It is essential for business success.
 Example of some business skills are communication
skills, time and organization management skills,
customer focus skills, leadership skills, strategic
business planning skills etc.
 With the help of such kind of business skills, it
becomes easy to run a business apart from the
knowledge of the marketplace.
 The present study based on business skills to
understand its importance, a case of Old Penny
Farthing Ltd is taking into the consideration.

What is social media?What is social media?
It is internet based software and interface facility
allows individual to interact with each other.
Help in exchanging details such as professional
information, business details, biographical data,
personal data etc within a minute.
It is an online communications channel which is
dedicated for different purposes.
Some examples of social media are Facebook,
Twitter, Google +, LinkedIn, Pinterest, social
media optimization, search engine optimization
etc.
It is an integral part of life which includes
different social components.

Conti….Conti….
 In the context of business, social media uses to market
products, promote brands, connect to current
customers and foster new business.
 With the help of social media, companies gather data
from it and analyse them to take right business
decisions.
 It assists the organizations to increase brand exposure
and broadens customer reach.
 From the perspectives of customers, social media
helps them to know more about the firm and its
services.
 Along with this, consumers can read the online
reviews of the other users related to a particular
service or a product of a company.

Ways by which Old Penny Farthing useWays by which Old Penny Farthing use
social media to further its business goalssocial media to further its business goals
 As per the given case study, it has found that OPF Ltd
Company plan to expand its business.
 It offers different designer pieces to the customers.
 In order to make the order goods and as per the requirement
of the customers, organization should use social media as an
online advertising.
 First way to use social media to achieve business goals is use
as a selling medium.
 With the help of this, a medium of selling of products and
services can be easily created.
 Different updates regarding the discounts and coupons,
limited-time deals, new releases and promotions can be
updated.
 It becomes easy to convert the uses into regular customers to
buy the products.

Conti….Conti….
 Second way to use social media in order to achieve business goals is use as
a marketing channel.
 It assists in create the awareness in the end users about the products and
services.
 Help in divert the traffic and gain the attention of the consumers to
influence them to buy OPF products.
 Another approach to use social media by an OPF to achieve business goals
is as a provide quality customer services.
 Effectively provide customer service online by increase the interaction with
the customers.
 By provide important tips and information regarding how to use the
products and solutions to complaints.
 Other hand, by using social media as a real relationship building, OPF
can achieve its business goals.
 Different medium of social media helps in increase the interaction with
customers.
 It leads to raise the end users bases which supports in increase sales of
services and market share as well.

Is it good to invest on social media as anIs it good to invest on social media as an
advertising platform for OPF Ltdadvertising platform for OPF Ltd
 Yes, it is good to invest on social media as an advertising platform
for OPF Ltd.
 There are some reasons in the support of investing money on social
media as an advertising platform.
 Increase the visibility of personal brand and business between the
customers.
 Build and grow personal and professional networks in the industry
that support the advertising of brand.
 Develop and maintain relationships with customers and suppliers.
 It increases engagement of both OPF and its consumers in real-time
two-way interaction.
 It helps in answering the queries of users in more effective manner.
 Publish and distribute original contents about the products of OPF
to attract the customers.
 Ultimately generate new leads and boost sales for business.

Conti…Conti…
Methods by which Old Penny Farthing can use
social media are as follows:
SEO optimisation:
 Social media as an advertising medium helps OPF
to improve website search engine ranking and
increase traffic of the customers to firm website.
 For example, General Electric has used social
media as advertising channel. It has more than 1.2
million fans on Facebook and more than 230
thousand Twitter followers.
 So, by adding social media link on website, OPF
can advertise its services and products in the
market and attract customers.

Conti…Conti…
Sending newsletters
 By sending newsletters to the customers,
OPF use social media as advertising medium.
 It assists the consumers to know about the
services and products along with the
different offers of the company
 For example, Tesco and Next PLC
companies are using newsletters to advertise
own services and attract more and more end
users.

Conti….Conti….
Posting updates on Facebook and Twitter
 With the help of posting updates of services
and products on Facebook, Twitter etc, OFP
Company can effectively advertise the
services.
 For instance, General Electric has regularly
updated his Facebook and Twitter page
related to new services in order to advertise
and attract the customers.
 So by creating a page on social media, OPF
can use them as advertising channel.

CONCLUSIONCONCLUSION
 It has been concluded that business skills have an important
part of a business to run its operational and functional
activities.
 Selection of right business skill has lead the firm in the right
direction and achieve organizational objectives.
 It has important to identify the skills which need to develop
or improve so that company can succeed in day-to-day
business operations.
 In this context, social media has essential business skill.
 It has assisted the management to promote the business in
effective manner.
 With the application of various social media, Old Penny
Farthing Ltd has expanded its business.
 It has helped in to attract more and more customers and made
the orders of products better.

REFERENCESREFERENCES
Books and Journals
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future with social media. In Web Intelligence and Intelligent
Agent Technology (WI-IAT), 2010 IEEE/WIC/ACM
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 Couldry, N., 2012. Media, society, world: Social theory and
digital media practice. Polity.
 Dabbagh, N. and Kitsantas, A., 2012. Personal Learning
Environments, social media, and self-regulated learning: A
natural formula for connecting formal and informal
learning. The Internet and higher education. 15(1). pp.3-8.
 Gerbaudo, P., 2012. Tweets and the streets: Social media and
contemporary activism. Pluto Press.
 Hanna, R., Rohm, A. and Crittenden, V.L., 2011. We’re all
connected: The power of the social media
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