Nowadays, the Internet has become an important tool in the business world. Organizations increasingly communicate with consumers and other stakeholders via various online means such as company websites, banner advertising, and search advertising. Recently, there has been a rise in adopting social media for business purposes [1]. It is not a secret that popular social media sites for business are Facebook, Twitter, LinkedIn, and Google+. Also, some businesses use content-sharing sites such as YouTube.
The most noteworthy effect of social media on business is the expanded potential for customer connections and engagement. Digital consumers behave in different ways from their brick-and-mortar consumer counterparts. People live in a world where unlimited information and products are always at their disposal [2]. They use different devices, someone prefers a desktop. Someone chooses smartphones and tablets, but modern digital customers want not only quality but convenience as well. They also expect accessibility.
Today more businesses are proposing the potential for one-on-one interaction with clients online through a diversity of social media channels. Each social media platform presents a unique opportunity for customer engagement. You don`t need to sign up for every social media platform available. The crucial thing for the business is to go where your customers are. Business considers its target market segments and focuses on finding ways to be accessible to them on social media.
The popularity of social media has led to the opening of a new avenue – digital marketing, which uses different digital platforms to promote a product or service. Social media marketing is a part of the digital marketing umbrella that markets products and services on social media platforms like Facebook [3].
Facebook is one of the world’s largest social media platforms with nearly 1.44 billion active users each month [2]. Initially, Facebook was aiming to permit users to share links, pictures, videos and status updates with friends and family they knew in real life. Now Facebook has become a well-known platform for entertainers, brands and companies as well. It permits businesses to make a branded page to act as a portal for online customer interaction. E-commerce software even allows you to run a store directly through your Facebook page. The social media platform is a hub for users and customers in all market segments, so it is also a great platform to use for customer service. The truth is that many consumers take to Facebook when they are happy with a product or service, but just as many use Facebook to complain about dissatisfactory customer experiences [2].
When carry on rightly, Facebook can be an important device for all sorts of businesses. Facebook’s built-in star rating system for business pages permits customers to rate and review your services. Their friends will see their feedback which can make a noteworthy amount of word-of-mouth marketing without any effort or financial investment on your part. Indeed negative Facebook feedbacks give you the chance to illustrate your commitment to customer service by responding in an official capacity on a public platform.
The crucial factor for the success of social media is conversation. When a social media site is used for a business, it expands the conversation through buzzes that would call out the brand name. A company must be truly dedicated to a conversation through social media, as much as the customers are. The companies must take time to review the conversation and must dedicate time and effort to respond to customers‟ responses.
Social media is a cost-effective method for marketing activities [5]. It helps small businesses to serve international customers and vary their client base, making a positive effect on small businesses. Social media marketing is proving to be a cost-effective and efficient marketing medium for such businesses.
Social media is not only a place to market and advertise products but moreover a place to interact with customers to try and solve their problems. Yes, social media is now a major player in most people’s business lives [4].
References
1. Reiss-Davis, Z. (2013, July 17). In Business, Everyone Uses Social Media for Work; The Question is How. Forrester Blogs. Retrieved from http://blogs.forrester.com/zachary_reiss_davis/13-07-17- in_business_everybody_uses_social_media_for_work_the_question_is_how
2. https://profiletree.com/impact-of-social-media-on-business/
3. https://emeritus.org/in/learn/impact-of-social-media-on-businesses/
4. The Journal of Applied Management and Entrepreneurship, 2011, Vol. 16, No.3 https://studylib.net/doc/8300921/the-history-of-social-media-and-its-impact-on-business
5. Paridon, T. & Carraher, S.M. (2009). Entrepreneurial marketing: Customer shopping value and patronage behavior. Journal of Applied Management & Entrepreneurship, 14 (2), 3-28.
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