The Influence of Social Media on Business Performance and Growth

This research project investigates the impact of social media tools on business promotion strategies, growth, and overall performance, using Talent Plus as a case study. The project begins with an introduction outlining the background, significance, aim, objectives, and research questions. The literature review explores the influence of social media tools on business growth, promotional strategies, and competitive advantage. The methodology section details the research design, approach, and ethical considerations. Data analysis is performed to assess the impact of social media tools. The project concludes with findings, recommendations, and references. The research aims to identify how social media tools enhance business operations, promotional strategies, and competitive advantage, specifically in the context of a consultancy firm. The project examines the role of social media in connecting with customers, providing cost-effective marketing, establishing brand awareness, and improving customer service.

RESEARCH PROJECT

Table of Contents
CHAPTER 1: INTRODUCTION....................................................................................................1
1.1 Introduction...........................................................................................................................1
1.2 Background of research.........................................................................................................1
1.3 Significance of research........................................................................................................2
1.4 Aim........................................................................................................................................3
1.5 Research objectives...............................................................................................................3
1.6 Research Questions...............................................................................................................3
1.7 Time scale.............................................................................................................................3
CHAPTER 2: LITERATURE REVIEW.........................................................................................5
2.1 Impact of social media tools on enhancing growth and performance of business................5
2.2 Role of social media tools in organising promotional strategies..........................................6
2.3 Different social media tools which are beneficial for firms in achieving competitive
advantage.....................................................................................................................................6
2.4 Relationship between social media tools and promotional strategies for expanding
business operations......................................................................................................................7
CHAPTER 3: RESEARCH METHODOLOGY.............................................................................9
3.1 Type of Investigation............................................................................................................9
3.2 Research design.....................................................................................................................9
3.3 Research Philosophy.............................................................................................................9
3.4 Research Approach.............................................................................................................10
3.5 Data Sampling.....................................................................................................................10
3.6 Ethical Consideration..........................................................................................................10
CHAPTER 4: DATA ANALYSIS................................................................................................12
CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................21
5.1 Conclusion...........................................................................................................................21
5.2 Recommendation.................................................................................................................21
REFERENCES..............................................................................................................................22
.........................................................................................................................................................1

TITLE: The implications of digital technologies on SME. A case study on Talent Plus.
CHAPTER 1: INTRODUCTION
1.1 Introduction
Social media is collective of the online communication channels which are dedicated to
the community based interaction, collaboration, input and content- sharing. Through using better
social media, people can connect with the each other. Social media is a computer- medicated
technologies which facilitate creation as well as sharing of data, information, career interests and
ideas through networks as well as virtual communities (Aral, Dellarocas and Godes, 2013). At
market place, competition level is more so firm use different tools of social media in order to
communicate with the people. Social media is an effective tool that can used through companies
to change business landscape. Social media is necessary tool on which more persons can share
their ideas as well thoughts by using different online sites for an instance Instagram, Facebook,
twitter, etc. Social media is helpful in increasing effectiveness as well as sales of company in
significant manner. In context to this, social media develops an immense affect on industry.
Developing and creating website is necessary for business. Along with the website, there
is a requirement to an organisation to expand its online reach to the platforms of social media.
On the other hand, social media is an easy process of giving and receiving feedbacks from
consumers. In this present time period, many people are engaged with the sites of social
networking in context to search better services and products and also people share their personal
experience. In social media includes forums and also blogging of interactive presence that
permits people ability to be engage in the conversation with some other persons.
1.2 Background of research
Social media is an internal part of life of human as applications proliferate as well as
social websites. In this, traditional online media consists social components like comments areas
for the users. Organisations use social media to make the products, promotion, connect with the
exiting consumers and also expand business at large scale (Ayeh And et. al., 2012). It is a
responsibility of manager to use the better social media applications in addition to connect with
large number of consumers at market place. Talent Plus is a consultancy firm and it provide its
services to large number of people in better manner. The main focus of this organisation is to
connect with more people to increase its business at large scale and also target different people.
1

It helps in enhancing the sales along with the profit level of Talent Plus organisation with in
given period of time. With the help of using social media, company can aware people about the
services of company and attracts them towards firm. It is a responsibility of marketing manager
to involve the social media in promotion mix at the time of preparing as well as implementing
the strategies.
Talent plus organisation uses the Instagram, LinkedIn, Twitter social media tools to
interact with people and know about the specifications of existing products and also services. It
will be helpful in expand business in to some other countries and target the different market
place. With the help of this, firm can gain the competitive advantage. Social media plays a
necessary role in order to promote services of firm at market place. Promotion should be
attractive and it aids in enhancing sales of an organisation. The main importance of promotion is
to enhance sales, develop brand equity, competitive retaliations, positioning, acceptance of new
products and many others (Bruhn, Schoenmueller and Schäfer, 2012). In addition to talent plus,
it provides its services to consumers online at reasonable cost. For this reason, firm has loyal
consumers at market place. Social media provides a marketer voice and also a method to interact
with the consumers, peers and also existing customers. It personalise brand and aids to spread
message of firm in a conversational and relaxed manner.
1.3 Rationale of research
This research is take in to consideration on “To identify the impact of social media tools
and their influence on promotion strategy of firm.” It is valuable in nature and helpful in provide
positive outcome. The main rationale behind conducting research is to know about social media
in a detailed manner. In this present time, business face many problems to connect with people
so through research firm can know effectiveness of social media tools to connect with people. It
will help in enhancing knowledge as well as skills of an individual.
1.4 Aim
The aim of this investigation is to “To identify the impact of social media tools and their
influence on promotion strategy of firm. A case study on Talent Plus”.
2

1.5 Research objectives
It is necessary for an investigator is to develop objectives before conducting any
investigation. It is necessary that objectives should be clear and better. There are some objectives
mention below:
 To identify the impact of social media tools on enhancing growth and performance of
business.
 To evaluate the role of social media tools in organising promotional strategies.
 To determine different social media tools which are beneficial for firms in achieving
competitive advantage.
 To analyse the relationship between social media tools and promotional strategies for
expanding business operations globally.
1.6 Research Questions
 How to identify the impact of social media tools on enhancing growth and performance
of business?
 Different ways to evaluate the role of social media tools in organising promotional
strategies?
 How to determine different social media tools which are beneficial for firms in achieving
competitive advantage?
 What are the measure to analyse relationship between social media tools and promotional
strategies for expanding business operations globally?
1.7 Time scale
It is an arrangement of the events used as measure of relative or duration of period of
geologic. Under this, firm arrange the time on the basis of activities (Fotis, Buhalis and Rossides,
2012). Researcher works on achieving the set targets according to the assigned tasks in an
effective manner.
3

4

CHAPTER 2: LITERATURE REVIEW
This part of research is a kind of review articles. It is scholarly pare that consists existing
knowledge involving the substantive findings along with the theoretical to specific topic. Under
this, researcher used the secondary data to collect information and data. It is basis for an
investigation in each academic area. In context to this, secondary sources are uses in collecting
data or information and these are books, journals, articles etc. Under this, data is collected in less
time period and there is minimum cost involved. According to opinion of Dena Taylor (2018)
literature review is a main part of research under which the an investigator justifies requirement
of research through critically evaluating past research. The research defines aim of research for
proper understanding. It is based on the personal judgement as well as objective analysis of
chosen research area. On the other hand, it provides lack of clarify of data and it is complex to
search the accurate information.
2.1 Impact of social media tools on enhancing growth and performance of business
Now a days' people are using social media as a platform for sharing their live events with
people who are directly or indirectly connected with them. Thus, it can be said that social media
for uses web based mobile technologies for communicating with one another. On the basis of
view point of Goh, Heng and Lin, 2013 it has been stated that Talent Plus is a consultancy firm
that is suing social media for improving its brand image and in addition to this, they are using for
providing customers with adequate amount of information. There are different kinds of benefits
that are provided by social media in order to improve performance and growth and these are
explained below:
Better Customers services: Social media help company in responding with grievance to
its customers if they have any kind of queries related to services and facilities provided by
company. According to a study it can be analysed that if consumers have problem than they want
company revert them as soon as possible. In context with Talent Plus, with the help of social
media they are providing customers with a wide window of asking queries related to job
opportunities and many more.
Cost efficient: As compared to other mediums social media is cost efficient so, if
company is while operating its business is going through a shortage of budget than this is
considered as an effective tools. Talent Plus, is using websites like Facebook, Twitter, etc.,for
5

sharing their information with the help of advertisement without any much cost. Therefore,
social media can be considered as an affordable advertising platforms.
Connectivity: Social media is also helpful in interacting with customers in order to know
their choices and preferences. It will gradually assist companies in doing modification according
to the current market scenario. In terms of Talent Plus, it is helping them in connecting with
intellectuals and expertise so that company can give appropriate suggestion for the queries
customers are having.
Establishing Brand Awareness: As maximum number of people are using social media
sites so transferring and sharing of information is very easy. With the help of this company can
increase brand awareness by telecasting attracting advertisement as a result it will create
awareness amongst customers.
2.2 Role of social media tools in organising promotional strategies
As per the current market scenario, there are a large number of social media tools which
are available and company are using this as a promotional strategies. These help company in
managing customers relationship as it enable them in doing negotiation if consumers are having
any kind of problems. Most of the people are active in social media websites because of which
promotional activities become easier for companies in providing better information to customers.
According to Hutter and et. al., 2013, it can be evaluated that Facebook is the most
popular demographics and around 89% of men and women are using and from there they are
getting information. Whereas Instagram is less popular than previous one and mostly people who
are living in urban areas are using. In context with Talent Plus, as it is a consultancy firm their
entire work is being done with the help of social media tool i.e. LinkedIn because most of the
companies are active in this site and for getting appropriate solutions firm can directly contact
with Talent Plus for the same. LinkedIn is a professional networking sites that assist companies
in making professional profiles. For promotional activities social media is considered as an
essential tool as digitalisation has made the process easier.
Now a days' Whatsapp is in a current trend an individual can do chatting and video
calling as well through their mobile phone and only require a good internet connection. Further,
it is considered as a great source for sharing information and other related items with other
people. In terms of Talent Plus, if a company wants to get any solution for any kind of problem
related to legal issues than a person can directly go to the website and get the number and
6

directly contact with respective person, other than this, he/she can have a video chat as well with
experts in order to get effective solution for issues and problem so as to run its business properly.
2.3 Different social media tools which are beneficial for firms in achieving competitive
advantage
With the increase in digital technology social media has made entire process of promotional
activities simpler. Now companies are using modern technique of promotion rather than
traditional procedure. Some of the benefits of social media in achieving competitive advantages
are explained below:
Improve website traffic: On the basis of Leung and et. al., 2013, Social media assist
companies in sharing content through websites and blog of a respective company and as soon as
firm publish any information it is delivered to readers. Thus, this help enterprise in promoting
their activities. For example: if a person has subscribed channel of a particular company than
notifications will be directly posted and information will be received.
Increases sales: Talent Plus is a consultancy firm and so it doesn't have to be deal with
physical sales. Their prime work is to provide legal information or any other kind of suggestion
related to any kind of issues because through this, company will be able to operate its business in
a better manner. So, with the increase in number of people using social media will raise
companies sales therefore, it is crucial that company adopts appropriate strategies for achieving
its goals and objectives in speculated period of time. Thus, with the increase in sales company
will be gain competitive advancement and they will be able to give tough fight to its rival firms
who are working in the same field.
Promote Content: This is the biggest advantage of social media, people are now doing
smart work instead of wasting money in traditional form of promotion they are using social
media and digital technology for the same. In addition to this, it also assist company in keeping
an eye on strategies and plan of action that have been implemented by rival firm.
Communication medium: Social media is considered as an excellent source of
communication as it is in reach with every person. People can easily interact with the respective
person for example: new established enterprise can interact with Talent Plus without visiting to
their office and wasting time. They can just sit at their home and take suggestions in return.
Therefore, at a single time Talent Plus can resolve so many problems and gradually it will
increase their sales and profitability and provides them with competitive advancement.
7

2.4 Relationship between social media tools and promotional strategies for expanding business
operations
As per current market scenario, it can be said that social media tools and promotional
strategies go hand in hand. Without social media tool promotional activity cannot be done, so, it
is crucial that company make appropriate strategies in order to expand their business operations
in different areas. Therefore, social media is considered as an important tool for attracting a large
number of people towards their organisation. As per the study it has been evaluated that around
85% of the people are using social media for getting information and sharing information with
others. This is gradually working as a promotional activity for most of the companies, for new
companies it is working as an aid as firm can now increase their brand image as social media has
expanded its voice and now people just scrolling news feed can get information for related topic.
On the basis of Lim, Chung and Weaver, 2012, it has been stated that Social media has
reduced cost price of promotional activities and now company can get into reach with maximums
number of people in just one click. Other than this, it has increased customers base of the firm
which leads to enhance sales and profitability.
8

CHAPTER 3: RESEARCH METHODOLOGY
Research methodology defines plan which is constructed by investigator to conduct
activities in systematic manner. It is essential that appropriate methods are used by individual to
collect accurate and complete information in respect to research topic. For this, researcher have
different tools and techniques which can be used to conduct investigation process properly.
On the basis of opinion of Oskar Blakstad (2019) Research methodology is an effective
way to collection of data, analysing and interpreting. It is an identical to research that employed
through an investigator in specific project involving the basic knowledge concerned to research
methods. Alternatively, it is used in limited sphere and expensive.
3.1 Type of Investigation
Investigator responsibility is to collect information and use techniques which depends
upon their decision making (Rishika and et. al., 2013). Quantitative and qualitative are two
different types of investigation which are used by person to gather sufficient information for
investigation. These are techniques which help individual to collect facts and figures to make
appropriate conclusions and recommendations for research topic.
3.2 Research design
Research design is refers to framework about different pattern which investigator uses for
conducting investigation systematically. Researcher construct objectives, collect relevant data,
choose different research methods to execute activities effectively. Exploratory research,
experimental or casual Descriptive research design are different methods which are used by
individual to have sufficient information for research topic.
This tactic is used by investigator to define problems and find appropriate solutions.
Descriptive research design is technique used by individual for qualitative investigation and ass
information properly.
3.3 Research Philosophy
This is defined as category which comprises different conditions, nature and types of
information collection. This tactic helps individual to analyse data effectively (Tiago and
Veríssimo, 2014). For this, positivism & interpritivism are two kinds of research philosophy
which are used by investigator.
9

In according to present trends, research interpritivism is used in this report. It is a quality
oriented which helps individual to have quality data. Research philosophy depends upon nature
of human being and role they play in social life.
3.4 Research Approach
It is strong research equipment which provides support to conduct investigation properly
and make appropriate output. This methodology has two approaches which deductive &
inductive. In this report, inductive approach is used by investigator. This tactic is related with
subjective data which is based on availability of statistical data gathered by analyst (Tuten and
Solomon, 2017). In this research, Inductive approach is used by researcher to have adequate
information and make appropriate results.
3.5 Data Sampling
Investigator collects data to have sufficient information to make conclusions for research
topic. For this, it is essential that population is divided into small samples to select appropriate
group. In this report, 40 respondents are chosen for report. Probabilistic & non-probabilistic are
two forms of data sampling. From this, Probabilistic sampling is technique for giving equal
chance while non-probabilistic is not to give value to each and select on basis of priority basis.
Will Kenton (2019), Data sampling is helpful in selecting the people from whole
population to collect data for specific research area. On the other hand, data sampling require the
more time and cost to be perform.
3.6 Ethical Consideration
In research project, it is essential for researcher to focus on gathering effective valid
information that is based upon real or true facts (Ayeh and et. al., 2012). While gathering any
information and data, investigators do not have to use abusive words which can affect values and
morale of individuals. They need to ensure that personal information of participants is not
disclose to any one without their permission; as researchers have to follow up certain ethics and
principles for completing research. There is also do not force people to give their reviews to a
specific area participants are allowed to freely chose options and give their recommendations.
QUESTIONNAIRE
Name:
Age:
10