Social Media Capabilities And Its Connection To Organizational Performance
Things have changed dramatically since then! Two ridiculous reasons would be the invention of smart phones and the cheapening of the internet. People began to experiment with and purchase products from certain companies while sitting at home. The impact of the internet and the invention of gadgets has not only aided people but has also aided organisations in their operations. As a result, some organisations have begun their advertising and marketing processes online. Some businesses use their social media marketing strategy to increase the value of their brand online.
Social media as a communication channel help firms to accomplish different organizational objectives including marketing, PR, advertising, branding, customer service,human resources and problem solving
Enough with the banners and posters; if 5.03 billion people today use social media, which is completely free, these big brands began showing appealing ads on such sites in order to grab their customers. Have you ever wondered why we get ads from companies whose products you have searched for while watching a YouTube video? Have you ever wondered why they make such a short 0:15 second video or poster ad that you want to stop the video and click on it for a second?That is what is meant by fully utilising social media for name, fame, and marketing purposes. But this is only half of what we know so far. However, the question of why businesses are increasing their investments in social media remains unanswered.
Why Business are investing more on Social Media as ConsumerUsage rises?
Ever wondered about this question? What power does social media have that has enticed some major brands that previously relied on traditional methods of creative marketing and brand advertisement? Have these companies found social media useful? Isn't that correct? have you ever wondered how startups like Bjyus and Licious managed to deliver their expertise and attract customers in such a way that they became unicorns in such a short period of time? This is because, in addition to doing business, they devised strategies to capture consumer ideologies and implemented them in creative marketing rather than just doing business, as you may have noticed.
How many times have you seen these brands' ads on social media? Social media algorithms work in such a way that every time you search for something you need, the company selling that particular product appears on your screen. So, how's it going? Are businesses utilising your social media data?
Basically, most businesses create social media accounts in order to increase brand awareness. People visit these sites and use their social media platforms to express their feelings about the brand or its products and services.
Social Media & Firm Performance
Using cyberspace and webtechnology has become a common practise in all businesses in recent decades. Organizations can contact their clients via the Internet at any time and from any location. The term `social media' refers to 'a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0 and allow the creation and exchange of usergenerated content'. Today, social media encompasses a wide range of online applications, including social networking sites(SNSs), blogs, forums, micro blogs, photo and video sharing,product/service reviews, evaluation communities, and social gambling.
Social Media & its Capabilities in Expanding the Interconnectivity between Businesses
Individuals can use social media to share information and create content more easily. People use various online networks to share their experiences and interact with other users, such as Facebook, YouTube, Wikipedia, Twitter, Instagram, TripAdvisor, online forums, ratings, and review forums. Indeed, social media attracts information seekers to obtain information about the product/service that they intend to purchase, which leads to an increase in consumer purchasing intentions.
On the other hand, social media as a communication channel help firms to accomplish different organizational objectives including marketing, PR, advertising, branding, customer service, human resources and problem solving. Accordingly, social media have been considered as an effective platform for enterprises to connect with large number of potential customers in order to spread their business information about their businesses.
The development of online communities has expanded the inter connectivity between businesses and consumers and enables them to make rapid international communications. Moreover, social media impact on firms brand position, brand awareness, customer's loyalty and customers purchasing decisions.
How Facebook & Twitter is Helping Businesses to Achieve Organization Goals
Facebook has allowed marketers to customize advertisements for a particular group of people. Marketers target these individuals on the basis of demographic information and shared interests. Facebook has made it possible to reach people who are aimed at cost-effective and attractive ways than traditional marketing channels. Today business organizations are looking for channels, where they can promote their brands at the lowest and highest possible cost. Facebook seems to be a partner that fits this need. However, Facebook doesn't have a sustainable model for business because it has a large user base. There are three different ways of promotion used by brands through Facebook:
i)brand pages, ii)branded applications, and iii)advertisements.
Twitter is yet another social media behemoth. Furthermore, the Twitter feature allows the organisation to validate the brands on an individual level. The use of something can be clarified into a short message that readers can read called a tweet. These messages appear on the followers' timelines. A website link may be included in the message. This website link allows followers to spend more time interacting with online content. This interaction fosters a bond and loyal communication between users and the brand.
Without a doubt, social media improves business performance by increasing sales. Further more social media could be used to grow business partnerships, such as finding a reseller to expand a business organization's market range, which resulted in an improvement in the business organization's performance. The increased use of social media for business would provide insights into the market for business organisations so that they could gain clients, resulting in the improvement of the business organization's performance.