Investigating Social Media's Impact on Business Performance

This report investigates the impact of social media on the business performance of Eagle Eye solution, a UK-based company. It explores the role of social media in marketing, focusing on how it attracts and retains customers, particularly for small-scale businesses. The research aims to analyze this impact, identify effective social media tools, assess their relationship to business performance, and recommend optimal strategies for Eagle Eye. The report includes a literature review covering relevant theories and studies, examining the use of various social media tools like Hootsuite, SocialPilot, and Buzzsumo, and their influence on business outcomes. The methodology section outlines the research approach, which is qualitative and inductive, using secondary data analysis. Ethical considerations are also addressed, ensuring the integrity of the research. The findings highlight the positive and negative relationships between social media tools and business performance, offering valuable insights for Eagle Eye's digital marketing strategies.

Research and Study Skills

TABLE OF CONTENTS
1. RESEARCH TITLE
..........................................................................................................................................................3
2. BACKGROUND.........................................................................................................................3
3. RESEARCH AIM........................................................................................................................3
OBJECTIVES..................................................................................................................................3
RATIONALE ..................................................................................................................................3
4. SUMMARY OF RELEVANT THEORY/LITERATURE..........................................................4
5. METHODOLOGY......................................................................................................................6
REFERENCES................................................................................................................................8

1. RESEARCH TITLE
To investigate the impact of social media on business performance of Eagle Eye solution
operating its business function in United Kingdom.
2. BACKGROUND
Social media is an platform where individuals share several ideas, view to each others
through internet connection so that people can be made aware of it. With development in
technology company are making use of social media platform in order to attract maximum
customers and gained competitive advantages. Thus, social media marketing plays an important
role in attracting and retaining maximum number of individual in context of small scale business
in limited time and cost. Eagle Eye is company that provides four principle capabilities over
digital marketing platform which helps it connecting with new customer’s. Developing digital
services, rewarding customer’s and staff loyalty are key services which has been offered by
company in order to grow and expand its business operation. The research has consist of various
points such as role of social media marketing, different tool used by small scale businesses,
relationship between social media tools and businesses performance. Moreover, it has contained
suggestion related to social media tools which could be used by Eagle Eye solution in order to
grow and expand its market share.
3. RESEARCH AIM
To analyse the impact of social media on business performance: A study on Eagle Eye solution.
OBJECTIVES
 To understand role of social media
 To identify different social media tools used by Small scale business.
 To assess relationships between social media tools and business performance.
 To recommend the best social media tools used by Eagle Eye solution.
RATIONALE
The topic of impact of social media on business performance is important as with
development of technology company are making use of social media platform to attract more and
more customer’s. Further, it will help in understanding numerous social media tool which could
be used to market products and services of company so that maximum number of individual are

motivated to select particular organisation rather than other competitors. Therefore, it can be
stated that the topic is necessary to study as through this research several small scale company
will able to effectively connect with diverse range of customer’s in minimum cost and time
frame.
4. SUMMARY OF RELEVANT THEORY/LITERATURE
Role of social media
As illustrated by Vinerean (2017), social media is modern communication that give
opportunities to marketers to share relevant information of firm to diverse range of people so that
they are motivated to be part of it for satisfaction of their respective needs. In recent scenario,
social media plays an vital role in small scale organisation as it helps in spreading particular
message among large number of individual so that company can grow and sustain for more
years. Moreover, the author states that from small business to huge companies are making use of
social media in their daily operations for achievement of end objectives. Marketing is main role
which is performed by social media platform that helps in creating awareness of company among
several individual so that they are further motivated to be part of organisation for satisfaction of
their respective wants. It also helps in building strong relationship with customer’s by
understanding their wants and method to satisfy needs of wants. The author also illustrate that
role of social media in small scale businesses is to create strong brand image so that maximum
number of people are aware of the company and its products and services. Thereby take right
decision to purchase in order to satisfied their respective wants and requirements in best possible
manner.
Different social media tool used by small scale businesses
From the point of view, Chung and et.al., (2017), there are different social media tools
which are used by small scale business in order to influence maximum number of individuals
within organisation. Social media tool used by business are Hootsuite, Macsocial, SocialPilot,
Buzzsumo and Audiense which help in attracting more and more people in the firm. For
example: SocialPilot is one best social media tool used by small scale business that helps in
effortlessly scheduling, planning, publishing and analysis social media post for growth and
sustainability of business. Hootsuite is another social media tool that contribute small scale
enterprises to evaluate their performance in order to take corrective action which can be fruitful
for business.

On the other hand, another author McGruer, (2019), has suggest some more social media
tools that are used by small scale business to induce maximum number of people in the
enterprise. Like Buzzsumo is social media tool which helps small scale businesses to easily
identified and analysis content so that target audience of company can be effectively engaged.
Leadfuze is also social media took that contribute in leading prospective thereby helping
company in attaining its objectives in industry. Audiense is an tool which enable manager to dig
out actionable user insight from social media platform so that more effective strategies can be
formulated to build and retained strong relationship with customer’s.
Relationship between social media tools and business performance
As per perspective of Felix, Rauschnabel and Hinsch, (2017), social media tool have
positive relationship with businesses performance as it helps in making faster and easier
communication with people that are living in society. Customer’s can easily share their problem,
feedback and comment on official website of company thus it helps in better interaction of
people with firm. Thereby, manager is able to make necessary changes which could be helpful in
meeting customer’s needs beyond their expectancy level. Increase website traffic is also result of
positive relationship between social media tool and businesses performance as more traffic
means more people are happy to be part of organisation. Social media help company in
interacting with customer’s that are living across worldwide by providing information about
products. Moreover, social media tools helps in adding potential customer’s thus positively
contributing in growth and success of enterprise in external environment.
On contrary Alaimo and Kallinikos, (2017), states that social media tool may lead in
creating cohesive brand image or ineffective execution of brand campaign by small scale
business can negatively destroy business reputation. Thus, it finally leads in losing potential
customers of company and adversely affecting operations of organisation. Secondly, business
become more dependent on social media tools that resulted in vulnerable future for organisation
in coming future. Therefore it can be understand that social media tool have direct relationship
with businesses performance which helped in growth and success of small scale businesses. As
social media tools has both negative and positive relationship with businesses performance.

5. METHODOLOGY
Research methodologies specific about several method that are selected by researcher in
order to pursue the research on topic of impact of social media on businesses performance. In
another words, it specific about particular ways in which scholar will collect, analysis and
interpretate information so that useful facts can be derived.
Research type: There are mainly two types in which research can be conducted that is
qualitative and quantitative in order to interpretate, analysis information. Qualitative is more
based on descriptive information while quantitative make use of statistical facts and figure to
analysis necessary information. Scholar will make use of qualitative research as it helps in depth
understanding and analysis of the research on impact of social media on business performance.
Research approach: It specific about several approaches that are used by researcher in order to
gathered relevant information. Like inductive and deductive are two major approaches which
could be used by researcher. Therefore the major distinction between both approaches is that
deductive approach test the validity of assumptions while inductive is used to generated untested
conclusion (Carlson and et.al., 2018). Scholar has planned to make use of inductive approach
that mainly start with aim, objectives and research questions to complete research process.
Research Philosophy: It specific about sources or the way particular knowledge has been
developed which involves formulation of belief and assumptions. Positivism, realism and
interpretivism are three research philosophy that are used while conducting research. Positivism
is mostly used for large sample while realism must fit all subject matter and interpretivisms is
suitable for small subject.
Data collection: It explained about the way in which data can be collected, such as primary and
secondary are two common method which are used to gathered accurate information. Primary
sources include interview or first hand information collected by myself on the other hand
secondary sources like internet, books and journals etc. Scholar will make use of secondary
sources in order to gathered useful and relevant data.
Data analysis: It specified about the way data will be analysed, thematical and SPSS are two
possible manner through which they can be analysed in order to derived useful information. The
scholar will make use of thematical method in order to analysis and interpretate data as theme,
bar graph and pie chart helps in better understanding of information (Turner and Endres, 2017).

Thereby researcher has make used of it in order to effectively interpretate and analysis
information.
Ethical consideration: All ethic will be consider while making the research project that is moral
principles, values so that it can be used by maximum number of individual. Moreover
information has been taken from appropriate sources with proper citation wherever required
which has helped in enhancing validity and reliability.

REFERENCES
Books and Journals
Alaimo, C. and Kallinikos, J., 2017. Computing the everyday: Social media as data
platforms. The Information Society, 33(4). pp.175-191.
Carlson, J and et.al., 2018. Customer engagement behaviours in social media: capturing
innovation opportunities. Journal of Services Marketing.
Chung, A. Q and et.al., 2017. Managing an organisation’s social media presence: An empirical
stages of growth model. International Journal of Information Management, 37(1).
pp.1405-1417.
Felix, R., Rauschnabel, P .A. and Hinsch, C., 2017. Elements of strategic social media
marketing: A holistic framework. Journal of Business Research, 70. pp.118-126.
McGruer, D., 2019. Dynamic digital marketing: master the world of online and social media
marketing to grow your business. John Wiley & Sons.
Turner, S. and Endres, A., 2017. Strategies for enhancing small business owners' success
rates. International Journal of Applied Management and Technology, 16(1). p.3.
Vinerean, S., 2017. Importance of strategic social media marketing. Expert journal of
marketing, 5(1).