Social it is estimated that there will be

Social
media is becoming an important part in peoples’ lives as can be seen from the
recent marketing approaches done in that sphere. The results from these
approaches are astonishing. In the best of all worlds, social media – a suite of
online services that facilitates two-way communication and content sharing- can
become a productive component of your overall marketing strategy. This service can
enhance your company’s online visibility, strengthen relationships with your clients,
and expand word-of-mouth advertising, which is the best type (Jan Zimmerman, Deborah Ng, 2017).

 The rise and wide spread of Internet and the
fast growing consumers’ digital media use led companies occupied in different
business sectors to think about a new way of communication with customers
(Cheong & Morrison, 2008). Among the fastest growing online tools for
reaching the consumers is the so called “social media” (Trusov, Bucklin &
Pauwels, 2009). Statista – The portal for statistics shows the number of social media users worldwide from 2010 to 2016 with
projections until 2021. In 2019, it is estimated that there will be around 2.77
billion social media users around the globe, up from 2.46 billion in 2017. Social network penetration worldwide is ever-increasing. In 2017, 71
percent of internet users were social network users and these figures are
expected to grow. Social networking is one of the most popular online
activities with high user engagement rates and expanding mobile possibilities.
North America ranks first among regions where social media is highly popular, with an social
media penetration rate of 66 percent. In 2016, more than 81 percent of the
United States population had a
social media profile. As of the second
quarter of 2016, U.S. users spend more than 215
weekly minutes on social media via Smartphone, 61 weekly minutes via PC, and 47 minutes per week on social
networks via tablet devices. The increased worldwide usage of smart
phones and mobile devices has opened up the possibilities of mobile social
networks with increased features such as location-based services like
Foursquare or Google Now. Most social networks are also available as mobile
social apps, whereas some networks have been optimized for mobile
internet browsing, enabling users to comfortably access visual blogging sites
such as Tumblr or Pinterest via tablet. With over 1.86 billion
monthly active users, social network Facebook is currently
the market leader in terms of reach and scope. The site has been shaping the
social media landscape since its launch and has been an important factor in
discussions about users’ privacy and differentiating between the private and
the public online self. Social networks not only enable users to
communicate beyond local or social boundaries, but also offer possibilities to share user-generated content like photos and videos and features such as social
games. Social advertising and social gaming are two major points of revenue for
social networks.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

(https://www.statista.com/statistics/278414/number-of-worldwide-social-network-users/)

 All these facts don’t even leave a doubt how
fast is social media emerging in business sector and peoples’ lives.

All
of the aforementioned facts make social media an interesting field for
investigation. They also prove its significant managerial relevance and
academic interest through the lack of many previous findings. As Larry Weber
2009 in his book “Marketing to the social web” says: “Social media is a new strategy
that has the capacity of changing public opinion – every hour, minute, even a
second.

As
social media is quite a new trend, still little research is available. Kaplan
and Haenlin (2010) do explain the importance of social media platforms and
offer several strategies of managing this phenomenon. These strategies, rather
advisory in nature, lack empirical support and thus leave room for future
research. 

Social
media represents the online content publicly created and available to end
users. It is becoming one of the main tools used to spread information among
customers. Blogs, social networking sites, content communities, virtual worlds
or collaborative projects all represent groups of people that create and share
content inside and outside of professional routines. For marketers this
phenomenon is of high interest as social media is becoming an important source
of customer information sharing, awareness, support and empowerment (Kaplan and
Haenlein, 2010). Consequently social media allows businesses to effectively and
inexpensively engage in direct client contact, reaching levels of efficiency
undoubtedly higher than any other traditional marketing communication tools
(Berthon et al, 2008). There are many evidences and examples how companies use
social media for more efficient communication and better results.

https://books.google.cz/books?id=B3i0DgAAQBAJ&printsec=frontcover&dq=social+media+marketing++book+2017&hl=en&sa=X&ved=0ahUKEwjWysLDs6PYAhWJmbQKHUIKAZ4Q6AEILjAB#v=onepage&q=social%20media%20marketing%20%20book%202017&f=false

 

 

 

Problem Statement

Looking
on a business perspective, Social Media Marketing has offered a large variety
of new opportunities for companies to promote their brand, products and
services. Thanks to the personal autonomy and freedom that Internet offers, people
are actively connecting with each other and talking about their experiences,
sharing their opinions about products and services they have tested or even
just heard about.

In
the current modern societies, Social Media channels are commonly used in order to
connect people together throughout the world using the Internet. Whether it is
through social networks, forums, blogs or media sharing websites, people can
now have a conversation online, also called interactive dialogue, with anybody
and on any subject, permitting them to share their experiences and valuable information.
However, it seems still unclear which real benefits Social Media Marketing has
brought to businesses and which particular techniques were used to achieve this
success.

 

Therefore,
the aim of the thesis is to discover the efficiency of social media marketing
strategy as well as how to use this strategy in business effectively. In order
to determine our problem statement, we will define the basic assumptions by
answering the five ‘Ws’.

·       
What are the benefits of Social Media
Marketing? – We will analyze in details the benefits of Social Media Marketing
for businesses and the main techniques used to achieve these benefits.

·       
Who are the main actors when looking at
the business benefits of Social Media Marketing? – Obviously, the main actors
are the businesses, mostly SMEs, but it is also relevant to take into account
their customers and audience.

·       
Where is Social Media Marketing taking
place? – Social Media Marketing belongs to the World Wide Web. Consequently,
Social Media are part of the global marketing.

·       
When is Social Media Marketing taking
place? – Social Media Marketing has been developing itself since the Internet
was launched. However, Social Media Marketing is a relatively recent notion,
especially when focusing on the business perspective.

·       
Why is Social Media Marketing important
for businesses? – Social Media Marketing has become a powerful marketing
technique for businesses, thanks to its cheap costs and high promotional
effects.

 

 

 

 

Research
question

An
in-depth analysis of the Social Media Marketing benefits and techniques for businesses
will help us in the understanding of the power of each Social Media channels
and their particular use for businesses. As a consequence, the problem
statement of this report will be defined as following:

“Social media marketing Strategy
and its usages in business to increase sales & Profit”

 

Thesis structure and research method

 In order to provide understandings and answers
to this issue, the report will start by presenting the notion and concepts of Social Media and its
relation to Marketing, defining the terms and their features. Then, on
the one hand, the theoretical analysis will use a wide literature review to
discuss the main business
benefits of Social Media Marketing, explaining why every business should create
their Social Media sites and maintain their presence on them regularly.
On the other hand, the empirical analysis will examine the main marketing techniques used by companies on
the Social Media channels, analyzing how businesses should develop their Social
Media Sites. Besides, the
limitations and risks encountered by businesses implementing Social Media
Marketing strategies will also be presented in order to show the negative
aspects as well. Finally, the report will end with general conclusions and
recommendations for businesses using Social Media Marketing.

 

 

 

x

Hi!
I'm Johnny!

Would you like to get a custom essay? How about receiving a customized one?

Check it out