The Marketing Value of Social Media Tools to Business Level Strategy
Published: 10 September 2017
Journal of Media Critiques , Volume 3, pp 97-108; doi:10.17349/jmc117308
Abstract: Social media (SM) is considered to be the most popular tool for increasing brand awareness as well as enhancing customer acquisition by companies (Goud, 2016). Multinational companies as well as small-to-medium enterprises (SMEs) are using various social media websites for expanding their business growth across different parts of the world (Kaplan and Haenlein, 2009).Recent research has found that almost 80% of the customers in the near future will be inclined to purchase products on the internet rather than by visiting physical stores. In addition, social media websites provide details of customer’s preferences and choices, which help companies to develop marketing strategies aimed at stimulating and targeting customers. Companies use both the traditional marketing approach and the digital marketing approach in order to increase brand awareness and customer acquisition. This paper aims to illustrate the effectiveness of social media in the marketing approaches of companies compared to traditional marketing approaches. Businesses today collect customer feedback from social media websites by introducing various promotional campaigns. Businesses not only collect feedback from their existing customer base, but also help attract more customers by converting the followers of the websites into potential customers. Due to the immense opportunities available through the use of social media websites, businesses prefer social media channels to legacy media (O’Murchu et al., 2004).
Keywords: business / Marketing / social media
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