SOCIAL MEDIA

Role of social media in business

Introduction1

Literature review2

End of conventional marketing2

Social media optimization3

Social media conversation3

Trends of social media4

Information overload and Social media intelligence5

Concerns regarding social media6

Research aim and objectives7

Research rationale7

Research design9

Implementation of the research project9

Sample size9

Based on age9

Based on profession9

Data analysis and interpretation10

Research based on facebook by method of reverse ranking10

Research based on the facebook users according to their profession11

Comparative analysis12

Conclusion12

References14

Role of social media in business

Introduction

Growth of social media in the field of business is showing its explosive rate in promoting and enhancing the business. Social media growth has also been penetrated into rural and semi urban areas also (Koul, 2012, p.4). This facility appears to be the cheapest source for information, channel and connectivity for promotion of any business. Rapid attention has been gained by the social media due to the penetration of internet in our day to day urban life (Ranjitha & Sinnor, 2012, Pp.12-17). Almost all of the business organizations find their indispensible presence on the social media websites in order to target their customers. Social communication can be effectively accomplished with the help of social media. Social media networking is being used widely in this urban and modernized world (Ranjitha & Sinnor, 2012, Pp.12-17). In this busy world, customers do not get time to make any calls for getting information related to any product from any business organization. Thus, all the business organizations are utilizing social media in order to convey the information regarding their products and services (Ranjitha & Sinnor, 2012, Pp.12-17). Consequently, social media is playing the vital role in bridging the gap between the customer and seller.

The unprecedented growth of social media has changed the way businesses operate. As a successful organization, each business wants to get it noticed and develop a better understanding of its consumers (Ranjitha & Sinnor, 2012, Pp.12-17). Social media have changed the marketing, advertising, PR, promotion and research dynamics for businesses. It has an impact on business processes, systems and communication (Ranjitha & Sinnor, 2012, Pp.12-17). Social media presence has become mandatory, and more companies are convinced of the benefits accrued from it. The Social Media Marketing Industry Report for the year 2011 presents interesting statistics to reaffirm the claim made above (Ranjitha & Sinnor, 2012, Pp.12-17). Social media have affected the society world over. When used effectively, social media increases traffic on the website, improves sales, generates customer interest in the company and its products and reduces cost of marketing.

Nine out of ten users in the United States visit a social website every month. Research statistics show that approximately 4.5 hours or 12% of all the time they spend on the internet is spent on social websites. This time distribution is more visible among youngsters than it is among the middle aged. This increase in trend is also seen among the elderly who are 55 and above (McDonald, 2004).

Literature review

End of conventional marketing

Social media have entirely altered the way businesses are being operated. It has provided a great evolution in the field of business and ...