The Impact of Social Media in Business

   5)     The impact of social media on the business-

There are a lot of impacts of social media on the business but only 15% cited are able to give proof about its impacts. At present time, it’s better to understand the effects because social media is recent innovation by which business people try to direct its profits. Some impacts are given below:

•           Create dashboard- A lot of companies that connected with a social media track metrics from different sources. As a result, it is beneficial to create social media dashboard that accumulated the different sources. A dashboard saves times and arrange the important metrics that are trending.

•           Develop meaningful benchmarks- Domicile a database of social media campaigns their outcomes implement the company for developing the benchmarks. If company entrance to range of campaigns from other companies then that company is able to provide a view of benchmarks.

•           Allocate funds to measurements- Calculation of the impacts needs the investments of metrics. This investments including the committed staff, partnerships, models, tool and technology or customer databases. (Moorman, 2015)

•           Cost control initiatives- The expert of social media allowed the observation of inability to measure the returns of social media on the investments (ROI) should not limit investments in it.

•           Public Relations- For improving the engagement of the audience, a legal relations department build on a lot of social media sites which publicize a lot of social media participants which is a key in success of efforts to control the awful news.

•           Sales- With the social media functions, sales can be increased from social websites which is helpful source in business. For instance, Customers product rating options is the way for enrolling the website users. It ahead to business people and to company which increased product sales. (Nordmeyer, 2017)

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References: 

Moorman, C. (2015, January 18). Forbes. Retrieved from Forbes.com: https://www.forbes.com/sites/christinemoorman/2015/01/18/measuring-the-impact-of-social-media-on-your-business/#30ed13e815e5

Nordmeyer, B. (2017). Chron. Retrieved from small.business.chron.com: http://smallbusiness.chron.com/highlevel-business-impact-social-media-38816.html

How to Build Social Media Marketing Strategy

     4)     How to build Social media marketing strategy-

 Every action we take on social media must be a part of the marketing plan. All pages, posts, comments and replies, in appropriate way according guidelines that driving towards business objectives and goals. A marketing strategy of media is the totality of all activities and idea which helps in achieve our business goal. We should set the target which we need to achieve in the future and how we can achieve them. Some of step are given below we can use to step up plan:

Step1: Goals and objectives-

 We should set goal and objectives which we want to achieve this is a first step of

every social media marketing plan. We can go with SMART Framework for step up of this goal.

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For example, We can post and share photos and videos that explores our company's culture. We can set 4 photo and 2 video a week the target of 40 likes and 10 share.

Step 2: Social media audit-

Social media audit means firstly we should know where we can reach target customers like which platform we going to use and where your competitors are standing.

For example -we uses snap chat to connect younger customer because snapchat is used mostly by young generation.

Step 3: Modification and improve your social media presence-

The next step is how we can improve our social media presence how we can connect with a lot of individuals by advertising on social website like LinkedIn, Twitter, Facebook etc.

Step 4: Acquire encouragement from competitors, leaders of companies-

We can improve our social media marketing strategy by looking what other are doing and we can compare our plan with them. We can learn new things from other may be they have better ideas and experience.  We can get inspiration for industry leaders like airlines company Air Canada, Reb bull etc.

Step 5: Evaluate, test and adjust your plan-

We need to adjust our plan by testing and evaluate on weekly basis. We can improve it by survey, reviews and comment. (Lepage, 2016)

References:

Lepage, E. (2016, august 4). hootsuite. Retrieved from hootsuite.com: https://blog.hootsuite.com/how-to-create-a-social-media-marketing-plan/

Disadvantages of Social Media for Business

    3 )     Disadvantages of Social Media for Business-

Today social media is the fastest growing industry in the world. We all know there are

 lots of advantages of social media but in spite of it have negative impact on users it depends on users how they want to use or misuse the social media. Let discuss some disadvantage of social media for business and society:                                                             https://www.bing.com/images/search?view=detailV2&ccid=iZnggYOA&id=1F84D79AF59524E4C4ACF3C326C3A2B10E36BC40&q=pictures+of+disadvantages+of+social+media+like+hacker+attack+internet+&simid=608007726549371456&selectedIndex=267&ajaxhist=0

·         Hacking - Personal information and data can be easily hacked by the hacker which may result to financial losses. They can share your important email and file by hacking your personal account. (Mark D. Minevich, 2017)

·         Businesses secrecy- It is hard to maintain business secrecy on social media the competitors can easily come to know about new product and design easily. They can also use the data and feedback provide by your customers for their business.  For example, we can visit on any website and we can download and copy image easily. (The Equality Team, 2017)

·         Reputation- The biggest problem in the social media is the fake account and I'd used to make a false comment and review about the company which effects the image of the brands. (Ahmad, 2016)

·         Time- Time consuming process for small business owners because they have to spend time on the social media to manage their accounts and page they don't have enough staff. (The Equality Team, 2017)

·         Addiction- It’s a worst side of social media which effects daily lives and mental health of the user. People are too much addicted to the social media they forget about physical activity and other way of spending time. (Ahmad, 2016)     

      References: 

Mark D. Minevich. (2017). The Research Pedia. Retrieved from theresearchpedia.com: http://www.theresearchpedia.com/research-articles/disadvantages-of-social-media

The Equality Team. (2017). Invest Northen Ireland. Retrieved from NIBUSINESS INFO.CO.UK: https://www.nibusinessinfo.co.uk/content/advantages-and-disadvantages-using-social-media

Ahmad, B. (2016, March 10). TechMaish. Retrieved from TechMaish.com: https://www.techmaish.com/advantages-and-disadvantages-of-social-media-for-society/

Advantages of Social Media for Business

                2)    Advantage of Social Media for Business:

We all know we are living in technology or internet world today. There are millions of users who are active on social media platform. Today social media become a marketing king which provide valuable information and data to business on real time basis. If you thinking 

who it help businesses look at the point given below:                                                              https://www.bing.com/images/search?view=detailV2&ccid=chz%2feF7Q&id=9571E09B3C7E7E5B75245AF586490F81ADEE0E2D&q=how+can+social+media+benefits+for+business&simid=608020289335919691&selectedIndex=31&ajaxhist=0

• Businesses decision- Today social media collect huge amount of information about its user like Who they are, what they like, how they feel about your product and services. They provide real time information which help businesses to take advantage over competitors and how to improve Goodwill of the brands. (Ahmad, 2016)
• Faster and easier-  In the past, the business world use different means for marketing like survey ,flyer etc. to collect data which was slow and in proper source of info but due to social media they can have fast and relevant data in real time basis. (The Equality Team, 2017)
• Brand loyalty- It is an easier way for customers to contact their brand and review them online. This help the business to improve their services and products line and also help to increase brand awareness. (Copp, 2016)
• Increase sale and e-market- More and more people like your page and ads on social media bring more traffic to your business website which help to generate online selling and increase sale. (Ahmad, 2016)

Well we can say today social media helpful for both business and customer. Customer’s satisfaction and feedback we can heard easily on social media. On the other hand, business can improve the customer service and product.

References:

Ahmad, B. (2016, March 10). TechMaish. Retrieved from TechMaish.com: https://www.techmaish.com/advantages-and-disadvantages-of-social-media-for-society/

The Equality Team. (2017). Invest Northen Ireland. Retrieved from NIBUSINESS INFO.CO.UK: https://www.nibusinessinfo.co.uk/content/advantages-and-disadvantages-using-social-media

Copp, E. (2016, august 17). hootsuite. Retrieved from hootsuite.com: https://blog.hootsuite.com/social-media-for-business/

Introduction and Role of Social Media in Business

                               Social Media for Business

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1)    Introduction and Role of Social Media in business:

Definition of social media:

Social media is the collective of online communications channels dedicated to community-based input, interaction, content-sharing and collaboration. (Rouse, 2017)

Social media are of different types. Some common source of social media we all use in our daily lives are:

• Facebook                    
• Instagram
• Twitter
• YouTube
• Linked in etc.

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There are millions of active users using social media on daily basis. So, for business world it look like millions of target customers. In other words, successful business marketing strategy is that how easy you contact with your customers and share information about where, when, how and the things are.

Social media = users (target customers) = business

It’s all about marketing of product using social media that is selling of good and services through marketing of product on social media. For example, if you use Facebook, You Tube etc. There are lots of Advertisements which pop up on screen, if you click on them it will link you directly to their Website. Today almost every company is spending on social media marketing they know where they can find and reach their customer. From the customer prospective social media is a sources of information but today it’s changing to e-Market. They easily come to know about new products and services, promotion and discount. Customers can rate and reviews about the company and products which decide the image of companies. (Bosari, 2012)

Is it free for customers?

In this world nothing is free. We all know time is money. From customer view, we spend time on social media for time pass and many more reason but indirectly they are doing job for social media by going active on social media website and apps. So, we can say nothing is free. Today social media play an important role in business marketing strategy. Moreover, it become source of information for customers as well as for business.   

                  https://www.youtube.com/watch?v=a949jCX23Tg&feature=youtu.be

References:

Rouse, M. (2017). TechTarget. Retrieved from whatls.com: http://whatis.techtarget.com/definition/social-media

Bosari, J. (2012, august 08). Forbes. Retrieved from Forbes.com: https://www.forbes.com/sites/moneywisewomen/2012/08/08/the-developing-role-of-social-media-in-the-modern-business-world/#639ad14b6fd6