IMPACT OF SOCIAL MEDIA

ON BUSINESS

Social Media is a platform where people are connected socially through different

mediums, moreover a kind of interaction between people where they create share and exchange

ideas.

The importance of social media in business is growing at warp speed. With more and more people

joining social media sites and using them regularly/efficiently, the social media industry is bound

to become bigger in the coming years. It’s booming like never before . The efforts are made to

create content to attract readers and encourage them to share it via social networks. And when it

spreads via (WOM) or Word of Mouth, as it comes from a trusted source, thereby helping the

product get marketed.

Social networking websites bring together people to interact with one another and build

relationships .When companies join these channels, consumers interact with them bringing in a

more personal touch due to their earlier interactions via social media. For example, BLOGS, allow

individual followers to tweet, retweet or repost comments made by the product being promoted

.And because the information is being shared out there, repeatedly, thereby bringing more traffic

to the product or company.

Mobile Phone usage has also become beneficial for social media marketing. Cell phones or we can

say smartphones are capable of connecting to social media sites. Individuals using these receive

updates on any happenings about a product or company in real time. Thereby products and

companies can constantly remind on updations, changes in product etc. Whereby making

advertisements always in sight. Nowadays we see in one of the leading newspapers, QR codes are

given with reference to any news or product where in an individual can scan that code and get

routed to the website or online services of the company or the product respectively.

Some of the platforms used for marketing via social media consist of: Twitter, Facebook,

Google+, Instagram, Blogs, LinkedIn, YouTube

In this 21st century, we live our lives in social media. Wherever we go be it on a vacation, or

celebrating an occasion be it birthday party, wedding ceremony, office outing or a get together,

everything we post or update on the social media, via which our friends and near and dear ones are

also updated on the happenings of one’s life.

Customer acquisition is essentially the art of building and maintaining relationships to improve the

traditional customer acquisition and retention processes. It’s not restricted to social media, but

social media is certainly a good place to start. Apart from the traditional push marketing, pull

marketing has also become an integral part of the system. 70% of the people trust brand

recommendations from friends and family. People talk about different brands on social media,
follow them or even like the pages. And the cost of not being involved with social media is rising

with every single day.

For Brand building, three most popular platforms names being Twitter, Facebook and LinkedIn.

Twitter is one of the best social media platforms for engagement and community building.

Facebook is the platform your customers really, really want to see you on. They want customer

service via Facebook and they want you to be available to engage with them via Facebook.

LinkedIn is very focused on B2B connections and leads.

If done right, in the long run, social media marketing can prove to be really cost effective. Because

as of today, even the paid social media campaigns, such as Facebook Ads, are cheaper than other

advertising options such as search engine ads. Which means there’s a higher return on investment.

Jumping on the social media bandwagon is no longer a matter of choice if a business want to

succeed. Every business needs it. The importance of social media in business is now more

prominent than ever.

PRI
YAM PRAKASH
ROLL - 20191077