Nowadays, social media plays a big role in our life as ways we use to connect with others who may have different culture any time and place. Apart from using in our daily life for ease of communication, it can be used in other different purposes, for example, updating ourselves with new information, advertising and expressing our feeling. In the past, people might not be aware of how they could use social network in their businesses; they still got sticked with such old-fashioned ideas such as promoting their product by direct sales, advertising by fliers and broadcasting. As time goes by, people started to recognise about social network when it becomes more important, some businessmen ...view middle of the document...
Once companies interact with people in the social media through posting images, videos, comments and sharing which possibly make someone react to visit the companies’ websites and become customers, the brands are humanised. The brands will act more like people via social network which is benefits for themselves since most people like doing business with other people not companies. Moreover, the studies have also shown that the more social media followers the brands have, the more credibility for their brands.
One of the most important things is that social media decreases the costs of marketing immensely. Advertising on TV, radio generate and hoarding generate high cost and do not efficiently effect to the consumers’ decisions comparing with social media which the companies can inform and promoting freely with very low cost (sometimes costless) but the owners can see the result of the advertising right after they advertise. This also let people who have low budget be able to start the businesses by paying low cost for advertising so that they can see the trend of their businesses and increase the budget if they are successful.
Because the social media is mainly used as a communication channel, the companies and their customers can communicate with each others immediately in order to retain and develop the relationship. For example, if there is a customer complain about the service through Twitter, the company will have a chance to apologise publicly and immediately.
Social network can also lead the companies to the customer insights. Social media often give very useful information about what they are interested and how they behave; companies can learn those thing via social listening. They can track the users’ comments to see what people think about the brands.
In customers’ side, it is better for them to involved in the businesses within the social network so that they can be informed, choose and make decisions.
The customers will be informed with sufficient information from many sources in the social network such as the companies, and other customers’ feedbacks so that they will have enough information before making any decision.
In conclusion, business nowadays has changed so much due to the emerge of social network; companies have found easier ways to make their brands, survey customers’ preferences and satisfactions, response to customers quickly, create brand loyalties and advertise while the customers also benefit from that the companies can response to their expectations and they have opportunities to research and find the best fit products before decide to purchase.
https://articlewinter.wordpress.com/2013/04/23/how-social-media-changed-the-world/
http://soshable.com/social-media-market-research/
http://www.greenbookblog.org/2014/04/25/why-has-social-media-analytics-met-with-limited-success-in-market-research/
http://www.slideshare.net/DJHMA/role-of-social-media-in-modern-day-marketing-as-an-operation
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