social media marketing
Abstract
The research conducted herein evaluates effective methods to leverage social media in a marketing aspect. People use online social networks to satisfy the need create social capital, a need to fit in, and a need for self-presentation and independence. The amount of consumers that use social media will almost certainly continue to increase, while at the same time the old methods leveraging channels of communication declines. It is in a company’s best interest to follow the consumers’ behavior and preferences. Knowing this, they need to leverage social media for advertising and online interaction with consumers of their brands. The aim of this paper is to bring to light the benefits and ways to leverage social media.
Social media has rapidly evolved in the public realm and corporate offices all over have realized how an influential and organized online group of consumers could bring opportunity. Businesses are put in such a position that they need to address this threat to the old-style of advertising by rethinking and reimagining approaches to communication and marketing. A firm being adapted to its environment in the best possible way in order to maximize net revenue has always been among every firm’s main goals. Organizations that are yet to venture into online social networks are seriously behind the times and missing out on lucrative opportunities.
Social media sites connect people from all over the world on a single platform. Irrespective of the locations, genders and nationalities, social media users are constantly connected with one another. Popular networking sites like Facebook, Twitter, Wikipedia, YouTube etc. have become the new advertising engines. Their growth is simply phenomenal and many companies have made perfect use of these sites and added millions of customers.
The ways in which social media can be leveraged have not been entirely realized, there exists many benefits to be discovered, which remains a
The research conducted herein evaluates effective methods to leverage social media in a marketing aspect. People use online social networks to satisfy the need create social capital, a need to fit in, and a need for self-presentation and independence. The amount of consumers that use social media will almost certainly continue to increase, while at the same time the old methods leveraging channels of communication declines. It is in a company’s best interest to follow the consumers’ behavior and preferences. Knowing this, they need to leverage social media for advertising and online interaction with consumers of their brands. The aim of this paper is to bring to light the benefits and ways to leverage social media.
Social media has rapidly evolved in the public realm and corporate offices all over have realized how an influential and organized online group of consumers could bring opportunity. Businesses are put in such a position that they need to address this threat to the old-style of advertising by rethinking and reimagining approaches to communication and marketing. A firm being adapted to its environment in the best possible way in order to maximize net revenue has always been among every firm’s main goals. Organizations that are yet to venture into online social networks are seriously behind the times and missing out on lucrative opportunities.
Social media sites connect people from all over the world on a single platform. Irrespective of the locations, genders and nationalities, social media users are constantly connected with one another. Popular networking sites like Facebook, Twitter, Wikipedia, YouTube etc. have become the new advertising engines. Their growth is simply phenomenal and many companies have made perfect use of these sites and added millions of customers.
The ways in which social media can be leveraged have not been entirely realized, there exists many benefits to be discovered, which remains a
References: Chu, Shu-Chuan. (2011). Viral advertising in social media: Participation in Facebook groups and responses among college-aged users. Journal of Interactive Advertising 12: 30-43. Cox, Shirley A Cyer, R. M., March, J. G. (1992). A behavioral theory of the firm (2nd ed.) New Jersey: Prentice-Hall. De Pelsmacker, P., Geuens, M. & Van Den Bergh, J. (2010). Marketing communications: A European perspective (4th ed.). Essex, England: Pearson Education. Deloitte (2011). NL online adspend study 2010: A fresh approach for IAB. Retrieved from http://www.iab.nl/wpcontent/plugins/download-monitor/download.php?id=211 Ellison, N., Heino, R., & Gibbs, J Farley, A. (2010). Before Booting Up. ABA Bank Marketing, 42, 24-31. Retrieved from EBSCOhost database. Gil-Or, O Granovetter, M. (1983). The strength of weak ties. Sociological Theory, 1, 201-233. Retrieved from Google-Scholar database. Lauden, K., Traver, C.G., (2012) Horrigan, J. B. (2002). Online communities: Networks that nurture long-distance relationships and local ties. Pew Internet and American Life Project, 19, 25-28 Funk, Tom Lake, L., Sutcliffe, S. (2010). Using Social Media to Market VAR Business. Channel Insider, 4, 1-2. Retrieved from EBSCOhost database. Marsden, P Martinez, J. (2010). Measuring Your Social Marketing. CRM Magazine, 14, 19. Retrieved from EBSCOhost database. Milgram, S Ochman, B. L. (2009). Debunking Six Social Media Myths. Ohio Land Title Association, 76, 9-10. Retrieved from EBSCOhost database. O’Reilly, T Paine, K. D. (2009). New School of Thought. Communication World, 26, 20-24. Retrieved from EBSCOhost database. Parks, M Perlik, A. (2009). Social Studies. Restaurants & Institutions, 119, 30-37. Retrieved from EBSCOhost database. Proulx, M Senecal, S., Nantel J. (2004). The influence of online product recommendations on consumers’ online choices. Journal of Retailing, 80, 159–169. Retrieved from EBSCOhost database. Smith, S Van Rensselar, J. (2009). Skip Social Media Marketing. Sales & Service Excellence, 9, 7-7. Retrieved from EBSCOhost database. Weinberg, T Weinberger, D. (2007). The Real Difference between the two 2.0s. KM World, 16, 18-20 Gogoi, Pallavi Kerr, Dara. (2009) Overall time spent online remains static. Retrieved October 26, 2010, from http://news.cnet.com/8301-1023_3-10297935-93.html Crunchbase Immediate Future. (n.d.). The Top Brands in Social Media Report. Retrieved October 28, 2010, from http://www.immediatefuture.co.uk/resources/the-top-brands-in-social-media-report-2008 Nielsen Suite101. (2010, February 2). Suite101. Retrieved from http://social networking-tagging.suite101.com/article.cfm/Internet-increases-social-group-size--diversity