Essay 1: Emerging Marketing Technologies
In today's technological and globally advanced world, people are much more concerned about the use of latest techniques. There are various latest and emerging technologies as well as trends used by most of the companies for acquiring and retaining customers. It is the best way through which companies can increase their market share and generate more revenues. One of the best way to attract larger number of customers towards the services of company, it is essential to make the online presence of company. Different companies are using different techniques such as Dell offers discounted products at Dell outlet on Twitter whether Starbucks offers coupons on Facebook (Pablos, 2010). These are the social media tools used by companies to make their online presence and aware customers about their services and products as well. Adopting latest technologies and capitalizing on technological trends is one of the best way that helps in attracting and retaining the customers. It is the best way through which companies can reduce the cost of leads and raise awareness in less time. People can easily access these services and motivates them in sharing their ideas as well communicating with each othe
Most of the population of country uses these technologies so that they can stay informed about all the newest information around emerging technology and trends. Technology is one of the most essential marketing activity with a unique perspective when it comes to building, evaluating and partnering with several led products as well as services. Moreover, it is being identified that amount of change in the past years is staggering and it is witnessed by several evolving techniques such as Google Glass to 3D printing technology (Bishop, 2011). One of the main aim of adopting various marketing techniques is to provide high quality services and products to the customers. Companies can easily go through the customers requirements as well as their needs and demands. Smart Machine is the recently developed concept of IBM and it will make its IBM Watson technology available as a development platform in the cloud.
There are various latest and emerging technologies used by most of the companies such as:
With this accelerative and technological advanced world, demand of smartphones are also increasing day by day. It has changed the life of people by making them more productive and entertaining. It is the best way of delivering the desirable content to the third party. It can be defined as a one-to-one channel of communication which provides all the required content, shopping opportunities (Dhar, 2008). Today's population is so advanced as they are using different smartphones running on different operating systems. With the help of using these phones, people can easily communicate with each other not only by a phone call but by aggregating email, instant messaging as well as social networking and texting. Moreover, it can be stated that different smartphones have different features and it changes by time of day and demands of customers. People are using this for several purposes such as sometimes, they are using it for GPS whether sometimes its a social network. There are various features in different smartphones and it provides high definition of video as well as pictures. Nonetheless, there are various applications available in this device which is very useful for every aspect as people might use different health applications as well as several shopping applications. Nowadays, different companies are providing different messaging as well as free voice and video call applications through which each and every individual can contact with each other (Ghorbani, 2013). People can get connected and stay in touch with each other worldwide. Various gaming applications are also available for the smartphones. It is the best entertainment applications.
Different services such as Groupon have grown rapidly and as people are much more interested in various discount offers. It is the best technique through which people can reach through the various discount offers. Marketers can think of this applications in terms of a marketing expenses as it is a great way to drive trial & awareness. It can be easily explained with the example of retail store such as: Any retailer can easily drive people in their stores by using a new channel or communication i.e.. A discount on Groupon. It is the latest technologies define as a marketing technology which do not requires any TV ads, direct mails etc (Lee, 2009). A retailer can easily reach through their customers and drive them back to their stores by just a simple Groupon for store fun.
Different websites such as FWIX.com and BlogSpot.com are define as a new lineage of local websites. These all sites are hyper local in nature and which develop a group for a portal sites for these different communities. It is the best place for local advertising as company can give their different advertisements.
It is being identified that most of the users nowadays are using smartphones which have a video recording capability. Most of the companies using these videos in order to deliver entertainment as well as contextual purchase related information. It is the best way to provide all the product related information in an effective manner with displaying the working of products as well as its services. It is the best way through which companies can build engagement, endorsement as well as viral distribution through the promotions done by video. Moreover, organizations are spending huge amount on developing the best animated videos for their products and services. It should be unique and different through which they can attract larger number of customers (Day, 2004). There are various other ways used by companies which gives high competition to this video technique such as the word of mouth from social media as well as various blog posts. In addition to this, it can be stated that this is one of the most effective technique used by most of the companies to deliver proper information about their products and services to their customers. With the help of this, they can easily build more engagement and retain their customers.
One of the key place for marketers is different social networks as it enable them to share and results in viral distribution of brand's message. It can be defined as a program that is used to create content that attract attention of customers and encourage reader to share it with their social networks. It is the best technique used by most of the companies nowadays. With the help of using this technique, company can easily get connected with their consumers worldwide and motivate them to use their services. It is freely available to everyone and easily accessible to anyone by going simply through the internet access. In addition to this, it is the best way to increase brand awareness of companies (Simakova, 2013). With the increasing use of technologies, most of the people are connected with the social networks. It helps them in creating and maintaining most effective relationships with each other with the help of the messaging and video calling feature. There are various social networking techniques such as Facebook, Twitter, Google+ etc. Nowadays, investing into social media will become a necessity for company. There are various benefits of using this technique such as increased customer loyalty and trust, word of mouth advertising, improved audience reach and influence. Social media is a tool through which companies can easily take several feedbacks from their customers about their products and services. It helps them in improving quality of their products and services as per the needs and demands of the customers. In order to find out different social media content, most of the people go through the search option available in the side tab. Social networking websites are the best marketing tool and different users will share their social network to help a company and increase their brand exposure and easily reach through their customers. There are different social media marketing solutions that streamline the process while helping business. One of the major reason that social media is quite effective for marketing is it provides brand name to organizations. It is the ability to interact and engage with more people worldwide. One of the latest and emerging technique is Engagor. It is a platform that helps the company better engage themselves with their customers. It is the best way through which company can monitor conversation about their brand and products as it keeps the track of all the conversations with scheduling (Anderson, 2006). It is the latest and emerging platform which also provides real time collaboration tools in order to make overall teamwork more simpler. Further, there are various other social media marketing plan which helps companies with a number of goals. Company can develop their goals by increasing their brand awareness as well as creating a brand identity and positive brand association. One of the main motive of using these marketing tools is communication and interaction with key audiences. In order to develop a unique strategy and attracting large number of customers, most of the customers are using different technologies such as:
Moment.me: It can be defined as a location based social media marketing which has launched its 'places' features in order to help the hotels and all the nearby stores to drive consumer engagement. It is the best social media platform from where a person can find mentions of their business on status, updates as well as photos and videos. It reflects the thinking of customers and their choices (Ghorbani, 2013). With the help of this, companies can provide best and high class services and quality products to their customers. It is the best way to approach customers and provide them several discount offers and sending them thanks messages for using their services.
SocialCentiv: It is the twitter based marketing tool and twitter is the best application for finding out new customers. People can tweet about the products and look for the advice. There is a Twitter intent based marketing web app that helps small businesses to turn conversations into customers. SocialCentiv is an application used by most of the organizations nowadays to know about their substance. It can be easily described with the help of the example of coffee shop. A coffee house can search and tweet containing the terms "caffeine fix" and then flag them to directly reply to the customers (Anderson, 2006). Moreover, it is the best way for going through the substances used by company so the consumers can use their services without any fear.
Yodle: It is an online marketing service which allows the customers to establish their business profile pages on Facebook. This marketing service is the best technique through which customers can make their identity and reach out through the different consumers in different locations. They can update their profile pages and set password for this so that no one can access this page without their permission (Duggan and Brenner, 2013). This is one of the best service which provides an effective presence on Facebook to local businesses.
Pushup Social: It can be defined as a Plugin which is used by most of the organizations in order to integrate a social network in their existing websites. While using this Plugin, they do not need to go through the external social media platforms such as Facebook, Twitter etc. With the help of using this Plugin, consumers can easily follow the company and create conversations in centralized location.
Wearable technology: There are several companies who have developed smart watch with their different features and prices. In the past years, most of these companies are struggling for developing its high features and functionality. In the year of 2014, it will see an increase in wearable tech brands that mainly focuses on the health and fitness. With the help of this, it will witness the future of health and fitness technology as tech moves beyond the activity tracker. There are several other wearable technologies such as MapMyFitness etc. This application is developed to map the fitness of a person (Clow, 2007). It tells about all their inner strengths as well as weaknesses. Different wearable technologies are developed by different organizations such as Apple has developed a wearable watch as well as eye tracker.
Location based and Mapping application: From the past years, it was recognized that there is an increasing role of mobile technologies. These techniques are developing day by day and it will see a deceleration of new devices as the mobile marketer settle. All the technologies and applications built within the mobile environment will change all the industries by the next years. There are several location based an mapping application used nowadays such as in the year of 2011, Google introduced the version of mobile indoor Google Maps for android. There are several other location based technologies such as Cell ID, Wi-Fi, Bluetooth etc. In addition to this, Geofencing is one of the key technologies used in Location based marketing (Kaplan and Haenlein, 2010). It can be defined as a virtual boundary that is created around a specified physical location. It is the best way through which a person can trigger some sort of predefined actions. Most of the organizations nowadays are using geofences in order to alert management when employees leave or enter into the pre determined area. It is the best way through which company can manage all their business operations in an effective manner. With the help of using this technique, parents can also trace the location of their children. It tells that when a child arrives at school then parent will get a notification. It is the best application which gives check-in and check-out details of an individual. There are several other social media platforms like FourSquare and Level UP that are used as a location based social media tools. People can register themselves with such sites in order to claim their location spot (Pickton and Broderick, 2005). It provides them extra incentives such as check-in rewards as well as several other discount offers. It is the best way through which people are highly attracted towards such location based social media tools.
Facebook: Most of the companies nowadays are using Facebook as their marketing tool and it develops a friendly environment. By using this social media technique, company can create and develop their Facebook business Fan page. It is the best technique to go through their brand image and market reputation. Customers will like the Facebook page of company and it is the best way to know their liking and brand reputation among customers. While designing this Facebook page, company want to pay careful attention to layout as well as features of overall designing of the page. It has been identified that visual component is the key aspect of the Facebook experience. It is the best technique through which company can reach out to their customers and motivates them to purchase their products and services. In this page, they can develop a comment page or a feedback page of customers. Consumers can give their valuable feedbacks about the products and services of company as per their needs and demands (Lee, 2013). Moreover, it is the best technique to go through the brand and market reputation of company.
Google+: It is one of the famous competitor of Facebook as most of the people are using Google+ nowadays. It is the latest and emerging technology as it promotes fun and casual atmosphere. On this application, person can easily upload videos and share different photos. In addition to this, there is a feature of Google+ circles through which person can segment their followers into small group. With the help of this, person can easily share all the information with the overall group. They can develop a specific group in which they can add their circle or group of friends. Further, there are several other options such as hangouts and experiments. It is the best way through which company can also try to host video conferences with these two options. Hangout feature helps in creating some fun messages among friends (Mayfield, 2008).
Twitter: It can be defined as a social media marketing tool which broadcast and update information across the world. Updating a tweet mix up all the officially related tweets about specials and discounts. People can create different twitter account and tweet some information from their personal Id. It is essential for companies to re tweet when a customer has something nice to say. Social media marketing tool revolves around dialogue and communication and interact with people in an effective manner.
LinkedIn: It comes under the most professional social media marketing sites as people come to stay in touch with all the professional people. In this group, all the job seekers can create their Id and get connected with different professional people from various fields. It can be defined as a great venue for entering into the professional field.
Pinterest: It comes under the latest social media marketing trends and it allows small businesses to showcase their own products offerings. It becomes viral nowadays and most of the people are adopting these techniques in order to develop their own brand's personality with some unique pin-boards. It is the best platform for retail industries and most of the retailers are using this technique in order to showcase of their products. It can also be define as a mobile application that offers a visual discovery, collection, sharing and storage tool (McKinley, 2002). It is the best tool through which people can discover their ideas for all their projects and interests. It is freely available but requires registration to use. After registering different elements user can upload, save, sort and manage all the images known as pins. There are different ways to register with pinterest and most of the users are registering with this application nowadays.
YouTube: It is an incredibly used social media tool and number one place for creating video content. People are regularly acceding these sites in order to get different videos related to the any company, movies, education purpose etc. There are wide varieties of videos are available related to the products and services of company as well as different fields. Moreover, nowadays most of the companies are trying to create the videos that "go viral" quickly. In order to get the videos viral companies are trying to adopt different technologies (Lee, 2009). There are very few chances of doing so as people are highly educated and they all have some specific choice. Organizations are try to adopting best strategies through which they can add benefit of ranking on then videos search results of Google. It is one of the best effective marketing tool through which companies can easily market their products my making their company's video viral. There are other options also provided by YouTube through which consumers can share and like the video. It is the best way to identify the popularity of the products and liking of customers as well. People can share different videos on their social networking profile page. With the help of this company can go through the companies can easily improve site traffic and helps businesses to reach through their customers. It provides a valuable venue for better understanding and learning from all the audiences (Xiang and Gretzel, 2010). Company can go through the needs and demands of their products by sharing and liking of their videos.
Holographic Marketing Technology: Most of the companies nowadays are using this latest technology as they are looking for several creative ways to spice-up the promotion of their products. It is a best technique to engage different customers from the brand of company. In addition to this, there are various POP up displays, AV concepts are available for rent in a variety of sizes. These technique offers an affordable and ROI rich alternative that brings tradeshows and presentations to life. Presently, holographic technology is used in different marketing as well as promotional activities. The major increasing demand of this technology is in the area of medical imaging, the increased use of holography in events and advertisements. It also includes the increased demand for smartphones as well as various other smart gadgets (Clow, 2007). The overall holographic display market is segmented into five major parts i.e. technology, product type, application and geography. Some of the holographic displays are fully integrated with 3D illusion that also combines physical objects.
It is being identified from past years that people are much more concern about increasing and latest technologies. They are adopting these technologies in order to enhance their knowledge as well as communication. It is the best way through which company can easily go through the process of brand building and differentiation. In order to differentiate their products from competitors company needs to go through the new innovation of their products by using latest and new technologies. In addition to this, more and more business are finding that fastest adopters of technology are in mobile markets (Bishop, 2011). Most of the mobile companies needs to fulfil the unique demand of all their customers as per the emerging market and trends. There are various low cost mobile devices are emerging. Several manufacturers stated that high consumers will continue to demand ever increasing power in their mobile devices. They are highly concern with the quality products and software as well as mobile applications. By using different technologies companies can easily connect them physical and digital worlds. Digital worlds are changing the way people communicate and interact with each other, it also change the nature or products and environment. Further, everything becomes connected nowadays by the use of emerging technologies. Companies can easily achieve true differentiation in digital world companies should incorporate different digital features and data collection mechanism into their physical products. In today's advanced world most of the retail industries are trying to make their online presence in order to attract large number of customers. They are trying to make their customers shopping experience very effective and provide them 24/7 services. Today, marketers can easily address the needs and intentions of people whether in future they will more confidently anticipate people's needs. In today's emerging digital business scenarios, people as well as businesses will connect via location based services (Ghorbani, 2013). From the above discussion it has been founded that most of the companies nowadays are adopting several latest and advanced technologies in order to expand their business services worldwide. Most of the companies in developing countries are focus of achieving higher growth but they often fail to invest in improving their capabilities in different areas such as innovation, operation as well as brand management. There are various advantages of using emerging marketing technologies for the companies as they can enhance their communication channel and attract larger number of customers towards their services. Using advanced technologies helps them in presenting themselves in a more meaningful way. From all the above given Emerging markets often have a growing population which mainly demands for the high class and high features techniques. Most of the consumers are interested in going through the online shopping and it requires to have a online presence of company (McKinley,2002). It is the best way through which company can eliminate competition and focus on their brand building. Moreover, it can be stated that developing countries can achieve higher growth. They can enhance their business and attract large number of customers towards their services by promoting their services. They can go for the better promotion by the use of different social media technologies as well as several latest and advanced technologies (Day, 2004). In addition to this, it has been identified that business may gain prestige as well as retain and acquire their customers.
Essay 2: Social Media Marketing & Its Importance
Marketing is the management procedure through which products and services move from business to the consumers. This is the coordination of 4 P's such as product, price, place and promotion (Mayfield, 2008). In the modern and competitive era of world economy, every company wants to become successful by using unique and modern technologies of marketing. Social media is one of the best and popular modern marketing technique. It refers to the procedure of gaining traffic or attention through social media sites. Hence, social media marketing programs generally centre on efforts to develop content which attract attention and encourage readers to share it across their social networks. In the present high competitive era of world economy, organization are focusing on social media networks in order to improve market share and profitability of the entity (Pickton and Broderick, 2005). The present essay will focus on benefits, importance and advantages of social media marketing for this kind of high competitive and rapidly changing environment.
The term marketing is utilized in the business world and this is the most useful term that decides success of an organisation. This can be defined as the managerial procedure that is responsible for finding, anticipating and satisfying needs of society. As per Philip Kotler, marketing is the process of satisfying requirements and wants with the help of exchange procedure. Furthermore, marketing is the task, set of institutions and process for developing, communicating, delivering as well as exchanging offerings which have value for consumer, clients along with society at large. Thus, it can be said that this is very important task of the association through which companies can communicate and promote their business easily (Romero, Galuba and Huberman, 2011). Presently, each and every organisation of the world are using innovative modern tools and technologies of marketing in order to get competitive advantages. Social media is one the main and effective tools of the modern marketing. This is very significant for improving marketing efficiency and effectiveness. Generally, there are ranges of social media sites such as Facebook, Twitter, Youtube etc., which will be helpful in improving social media network (Rossiter and Bellman, 2005). In addition to this, it can be said that social media marketing is the procedure of gaining attention with the help of various kinds of effective and popular SM (Social Media) sites. SM itself is the special and unique methods which may provide radically different social actions. For example, YouTube is a social site developed to let people share videos with others. Facebook is another site through which public can share updates, photos etc.
Social media marketing and search are two very closely related terms. Search activity can be defined as the task of finding out some old and new information on the site (Schivinski and Dabrowski, 2014). Various site such as Facebook provides search option where user can search various kinds of information related to that particular site. In order to search social media content, various people utilize search option of these sites. Furthermore, there are ranges of other search options for users such as Google, Yahoo etc. through which they can search various kind of information related to social media sites. Hence, it can be said that search engines and SM websites are interrelated with each other and people must use both options in order to access various types of useful information (Sema, 2013). There are marketing land which is the sister site to search engine land that cover all facets of internet marketing, comprising these popular topics within social media marketing (Facebook, Instagram, Twitter, Pinterest, Google plus, LinkedIn, YouTube etc.). At search engine land, people occasionally covers social media news with a search angle, society can find all of company's most recent articles related to social search. Thus, it can be stated that social networking websites allow users to interact with one another and develop good relationship and this kind of relationship is helpful in improving demand of the businesses (Thackeray, Neiger and McKenzie, 2008). Companies can utilize their popularity and image as a marketing tools with the help of various kinds of SM networking websites. When companies join the SM sites, clients can communicate with them directly. This type of communication can be more personal to users than classical techniques of outbound marketing and advertisement.
The major reason of popularity and use of these sites is that these websites can be utilized and accessed easily with normal knowledge. Developers of these kinds of sites provide very effective and easy tools and features through which society can easily operate these (Vinerean, Cetina and Tichindelean, 2013). SM sites act as two way communication business to customers and these allow users to re-tweet or repost comments made by others regarding products being promoted. Presently, SM sites are famous all around the world and millions of people utilize these sites. Hence, companies can cover large area of market with the help of this kind of website. They can use these website as a tool of marketing and promotions. Furthermore, by using these sites, companies and interact with individual and this will be helpful in solving problems and issues of person. The personal communication with individual can instil a feeling of loyalty into followers and potential consumers. Brand image and popularity of businesses is dependent on the SM activities (Xiang and Gretzel, 2010). Company can improve its image by making effective and efficient social media marketing plans and policies. The vast amount of data regarding goods and services can be collected with the help of various kind of social media sites, by using the new semantic evaluation tools, small and big size entities can detect buying signals such as content shared by society and questions posted online. Companies can find out their target consumers by analysing information provided by various popular SM sites such as Facebook, YouTube and Whats app (Agichtein, Castillo and Mishne, 2008).
Businesses can create the best marketing model in order to integrate social networks within their marketing strategies. There are systematic process through which effective marketing model for social media can be created. This process includes various steps such as selection of potential social network to use, definition of a financial plan, explanation of structures of entity to manage the social network market, target market selection, product and services promotions, performance measures, etc (Asur and Huberman, 2010). In addition to this, it has been seen that social networking is utilized by approximately 76% businesses. The various studies represent that revenues of the companies has been increased due to use of social media marketing.
On the other side, mobile phones are also useful electronic equipment which is helpful in utilizing social sites. There are various mobile phones that provides social sites facilities and individual can be notified of any happenings on SM with the help of cell phones in real time. The software companies has developed several applications through which social websites such as Facebook, Whats app, Twitter etc can be easily used by user (Berthon and McCarthy , 2007). Facebook messenger is one of the popular application of mobile phone that is used by the individual in order to access Facebook website on mobile phone. Organisations can add notice and other useful information on these types of sites and thus, people can easily get aware about the latest news and information. Advertising is always in sight because mobile phones are connected to social networking sites. Presently, several entities provides QR codes with products for consumers that helps in accessing the website of the company or online services with their smart phones (Mangold and Faulds, 2009). Basically, there are two different strategies for engaging the SM as marketing techniques such as the passive approach and the active approach. First, passive approach will be discussed. SM can be important source of market information and consumer voice. Generally, there are ranges of sources such as blogs, content communities and forums through which society can share their reviews and suggestions for particular brand, products and services. Businesses can utilize these reviews and suggestions in order to develop the best and effective marketing plan (Lee, 2013). Thus, it can be said that the first approach believes in SM as the information tool and it can be utilized as the medium of communication.
On the another side, active approach believes in attractive concept of SM sites for marketing and advertisement. Various modern scholars says that SM can be used as the public relations and direct marketing methods but also as interaction medium and consumer engagement techniques. In this highly competitive era and rapidly changing world, SM marketing plays very significant role in deciding success and failure of the entities. There are ranges of examples of companies initiating some form of online dialogue with the public to foster relationship with society (Lariscy, Avery and Howes, 2009). Business executives like Jonathan Swartz, CEO of Sun Microsystems; Steve Jobs, CEO of Apple Computers and McDonalds' Vice President Bob Langert post regularly in their CEO blogs, encouraging customers to interact and freely express their feelings, ideas, recommendations related to their postings about the company or its goods and services.
It is important for any marketer to evaluate way of using SM sites as a marketing tool. There are ranges of rules and instructions which can be followed by the companies in order to promote and advertise their products and services in the market (Kietzmann, Hermkens and Silvestre, 2011). Success with SM and content marketing needs more listening and less talking. In order to find out the perceptions and behaviours of the society, management must read online content and discussions of clients. Another rule of SM is the focus. The associations must highly focus SM and content marketing in order to develop strong relationship with clients and this will be helpful in sustaining business and market share in high competitive atmosphere. Regular updates and continuous analysis is another way of using social media (Kaplan and Haenlein, 2010). Marketer should be in contact with the every individual using social sites in order to know current issues and problems of the market. This kind of action will be helpful in solving problems at right time. This will also save time and reduce cost of the businesses which will improve profitability. Social media provide various types of benefits to the domestic as well as international companies such as increased exposure, improved traffic, developed loyal fans, generated leads, enhanced search ranking, grown business partnerships, reduced marketing expenses, improved sales, provided marketplace insight, etc. Various business entity such as Microsoft, Google etc. believe that social media is the game changer (Greysen, Kind and Chretien, 2010). This is the real thing that SM will regular to have an important impact on businesses and society. Presently, the association have the capability to reach out and interact on personal level with their consumers on daily basis. Hence, it can be shown that it is the game changer for the associations engaged in marketing, sales, consumer services and other business operations. This is very powerful and has never been available with classical marketing.
The various studies represent that entities which utilise SM strategically are satisfied with the outcomes than ad hoc users who are more sceptical regarding the importance of SM marketing. On the other hand, the organisations which utilize SM as a part of planned business concept are two times more likely to anticipate revenue growth than ad hoc users (Grant and O’Donohoe, 2007). In addition to this, social media is now the top internet activity of the world. Americans invests about 37 minutes daily on SM and this is a higher time spend than any other main internet activity such as emails, search engine etc. Furthermore, Facebook is leading and important SM site utilized by marketer as well as society worldwide. It has approximately 1.26 billion users with averages 1.23 billion monthly active users (Gilbert and Karahalios, 2009).
On the other hand, Google plus is now the second largest social network at just over 50% with Facebook still dominating at 70%. The major reason behind popularity of Google plus is that G plus is compulsory whenever an individual develops new G mail account. YouTube is also one of the popular sites through which consumer shares the videos. The business entities can also utilize this site for their business. At the time of launching new products and services, company can share various kind of videos on YouTube in order to promote the products and services. For instant, company can add some videos related to process of developing the product and services and hence it can be helpful of consumers to find out various kind of information (Gerbaudo, 2012). Furthermore, company can share videos of conferences, meetings and announcement in order to provide ranges of valuable and useful information to people which can be helpful in making buying decisions. In the present technology world, LinkedIn is one of the best and fastest growing professional business network. Entities can utilise this type of technology for promotions, advertisement and marketing purposes. Another tool of SM marketing is Pinterest which is one of the leading referral sources for organic traffic that is a good for high search ranking. Whats app is also the foremost and useful application of mobile phone through which messages, videos, images etc. can be shared easily. This is also best tool for marketing but major limitation of this is that user can share these to the contact numbers only (Gao, Barbier and Zeng, 2011). Hence, it can be said that this is not open type of SM application but still it is utilised by various entities for marketing and advertisement. Thus, it can be said that all these tools and techniques are playing major and very significant role in current high competitive and fast changing business era of world economy.
SM marketing is valuable tool for the businesses and the purpose of SMM is not just to gain likes, fans and re tweets. But the main objective of these is to develop good relationship with society by continuous conversation. This is a beneficial tool for the businesses for improving their brand awareness. Hence, it is true that SM plays an excellent role in introducing consumers to a brand. Various research and experts believe that if people are aware with brand, then they will come automatically for buying the products and services (Evans, 2012). On the other hand, if they are unaware of a business or existence of website of the entity, then they cannot shop. In this fast and modern world, people check various social media sites before buying any product and using any services. They see the reviews of existing consumers in order to make any kind of decision. Thus, it can be said that many people use the mentioned tools and these can be also helpful and beneficial for companies.
This can also be said that SM sites are the perfect way for promoting and advertising a brand to target audience. Relevanza which is research agency, stated that approximately 80% of small and medium size businesses attract new consumers with the help of SM marketing (Dwivedi, 2007). According to research company Adroit digital, approximately 80 percentage online Americans search social media sites in order to find out product information which helps them in making buying decisions. He also stated that SM is the second most likely way through which US millennial can studied about a new products, and only three percentages people depended on TV advertising. In addition to this, it can be said that there are ranges of people that believes in social media sites and they analyse these websites for making effective purchasing decisions (Duggan and Brenner, 2013). New brands, products and services can be introduced and promoted easily with the help of this kind of action.
Businesses can improve their brand recognition and awareness by using various kinds of social media channels. SM marketing is very significant because this simultaneously makes easier and more accessible for new clients and makes more familiar as well as recognizable for old clients. For instant, a frequent Facebook user could hear regarding particular entity for the first time only after stumbling upon it in newsfeed. Another benefit of SM is that this helps the associations in improving their brand loyalty (Mayfield, 2008). There are various research entities which reported that brands who engage on SM channels enjoy high loyalty from their consumers. Thus, it has been identified that fifty percentages of Americans who follow brands in social networking are more loyal to those brands. Furthermore, it can be said that if company will use social media tools as marketing method, then this can help the organisation in improving their brand loyalty, brand awareness and this kind of action will improve market share and profitability also.
SM marketing provides more opportunities to convert the followers into customers (Pickton and Broderick, 2005). Each post the company make on a SM site is an opportunity for the client to convert he followers into customers. When association develops the following, it will simultaneously have access to new clients, recent clients and old clients plus organisation will be capable in interacting with all of them. Each blog post, image, video, text etc. which enterprises share is a chance for someone to react and each reaction can lead to a site visit and eventually a conversion. Hence, positive communication will improve the likelihood of an eventual conversion. However, company can recognize positive as well as negative reaction of the people with the help of attractive and effective SM marketing (Romero, Galuba and Huberman, 2011). They can easily solve various kinds of issues and problems at the time of occurrence. In addition to this, social media marketing results in high level of conversion rates in few distinct ways.
Possibly the most important is its humanization factor; the fact that brands become more humanized by communicating in SM sites. Thus, it is the place where companies can act like people do and this is significant because society like performing business with other people and not with organizations. Additionally, various research reported that SM has hundred percentages high lead to close rate than outbound marketing and very high value of social networking users tends to increase trust and credibility in brand or company, representing social proof (Rossiter and Bellman, 2005). Thus, it is clear that high volume of user and popularity of SM sites is helpful for improving rate of communication and high rate of communication is helpful in solving problems of the society easily and quickly.
Another significance of social media marketing is the high level of brand authority. Communicating with consumer continuously is a display of good faith for other consumers. For example, if the more people talk about the company on social media sites, then more valuable and authoritative brand will seem to new users (Schivinski and Dabrowski, 2014). On the other side, improved inbound traffic is another importance of social media marketing for businesses and corporate. Normally, it can be said that in this highly competitive and fast changing world, without SM, inbound traffic of any company is limited to persons who are already familiar with company. If management desire to improve brand awareness and inbound traffic, then they must utilize the best and unique social media marketing strategies and plans (Thackeray, Neiger and McKenzie, 2008). Each SM profile the entity add is another way leading back to company's site and each piece of content the entity syndicate on those profiles is another opportunity for a new user or visitor. Furthermore, more traffic represents more communication and more communication means effective relationship between company and its consumers. This will lead in making better consumer base, this type of action helps in improving profitability by improving market share of the businesses. Another benefit of social media marketing is that this helps in reducing marketing cost of the associations. On the basis of various research it can be stated that about eighty four percentages marketers identified that six hours of effort per week is sufficient for generating increased traffic (Chan and Guillet, 2011). And thus, six hour of effort is not a big investment for the businesses and association can save its cost also. Additionally, management only need to invest one hour per day in order to develop their content and strategy related to social medial marketing, and this is very low time in this high competitive era. They can focus on other activities of the business such as production, distribution, quality management, innovation etc.
Better search engine rankings is also one of the best benefits of the SMM. There are ranges of search engines such as Google, Yahoo etc. that based on ranking provided by social media sites (Asur and Huberman, 2010). On the other side, companies also depended on ranking provided by public on social media sites. Hence, it can be said that SM play very significant role in improving goodwill and brand image of any organisation. Another benefit of SM is richer consumer experiences and knowledges. Furthermore, social media is known as the interaction channel such as emails and phone calls. In the case where company communicate with one new individual on Facebook is an opportunity to publicly demonstrate its consumer service level and enrich its relations with its clients (Clow, 2007). For instant, if the people complains regarding goods of any entity on Twitter, then association can immediately address the comment, apologize publicly, and take right action to make it right. In the another case, if client compliments company, they organisation can thank them and suggests some additional and new products and services.
Another importance of social media marketing is that it helps in improving consumer insights. This gives the company an opportunity to gain valuable data related to what their clients are interested in and how they behave, via social listening (Berthon, Pitt and McCarthy, 2007). Direct and indirect views of the people regarding particular brand, product and service can be evaluate easily with the help of social medial activities. This will be helpful in making future business strategies, plans which will be helpful in generating profits and reducing issues related to services and quality. The company can divide its products based on characteristics, use, features, specifications etc. in order to know which types of product generate the most interest, and then that product will be produced more for the society (Curtis, Edwards and Sweetser, 2010). Hence, it can be represented that behaviours and perceptions of the people can be noticed with the help of social media marketing.
The present world of social media play very crucial role in business and economic of any nation. Entities can get to see their target market, up close and personal. Any company can modify its marketing and business strategy on the basis of views, opinions and comments of the society on social media sites such as Facebook and Twitter. Problems of the society can be solved quickly and easily, only in the situation where company is focusing on social media activities closely and it has good and attractive SM marketing strategies (Lariscy, Avery and Howes, 2009). In this high competitive era of business, every business entity must evaluates policies and plans of its competitors in order to become market leader and successful entity. And social networking sites provide helpful and valuable information and data about the competitors strategies, products, services etc. By using this type of information, management can make effective competition policy and pricing policy in order to sustain business operations in this changing atmosphere (Grant and O’Donohoe, 2007).
Additionally, if company stays in front of its consumer base, then they are more likely to purchase products and services from this. Hence, it can be said that SM marketing does not just keep entity's name in from of clients, but this also provides an opportunity to constantly give them incentives to purchase. Presently, various company provides coupon codes and other offers to the people who like the post and product on Facebook or Twitter. Popularity of this kind of benefits are improving continuously, and it provides help the entity in increasing sales as well as profits (Romero, Galuba and Huberman, 2011). Many a time people wants some product and service, but they cannot find accurate and full information regarding them such as price, quality, availability etc. Social media sites are the best way of identifying the useful data regarding products and services, and people can directly contact to you regarding purchasing activity.
In the procedure of marketing and advertisement with Facebook, association will probably join a large groups regarding products and services, industry etc. of entity. By posting any links, texts in these kinds of groups company can influence people to check out its sites (Schivinsk and Dabrowski, 2014). Many a time management see that they have post a link yesterday and two weeks later they may see a sale from this. Another benefits of the social media marketing is that this is free and company does not need to pay any kind of fees, charge etc. for use of it. Various kinds of traditional marketing such as print media, television, personal marketing, advertisement etc. require huge amount of investment. It will improve overall cost of the production and company must make high prices for its products and services. On the other hand social media is free for the entity and they does not require big group of people to handle it, and hence, it can be said that this reduces the costs of the business such as expenditures related to human resources and other marketing expenses (Asur and Huberman, 2010). In the year 2014, one research found out that quarterly profit of Facebook jumped 90% from the same time last year. This kind of improvement is somewhat due to high level of advertisement revenues. Hence, this states that various entities are using advertisement and promotion techniques on social media sites. Additionally, SM allows a business to promote and market its own brand, with fifty percentages of people utilizing social media as a primary source in their purchase decisions (Xiang and Gretzel, 2010). SM is major factor in leading people in their decision making procedure. This provide opportunity to businesses to post various kinds of contents such as new, information etc. related to the services and products of the entity. This will be helpful in enhancing brand awareness, image, goodwill in the market, and finally it improve sales and profitability of the association.
Furthermore, the above evaluation shows that social media is best way of developing good relationship with customers and businesses. They can communicate with each other quickly and easily by using SM networking (Gerbaudo, 2012). Digital world is increasing continuously with high rate due to improved social media technologies. This kind of digitalization is helpful in effective communication. There are ranges of social media sites such as Facebook, What's Up through which people can communicate with company directly with the help of video chat etc. feature. This kind of fact to fact interaction will help in improving trust and loyalty. And it is also beneficial for the society as they can get quick reaction and solution of the problems by using social media technologies (Gilbert and Karahalios, 2009).
True value of social media can be presented with the help of opinion of various successful persons such as CEO of Google, President of Microsoft etc. They believes that the old techniques of marketing such as business to businesses and business to customer are not meaningful in this high technological and fastest growing world. The classical methods of marketing and promotions require big amount of time and money, and presently no business have this kind of big time and investment (Grant and O’Donohoe, 2007). Every businessman wants to become successful in very short time period and this kind of success can be achieved only with the help of quick and fast way of marketing such as social media networking. Approximately 400 million active users of social sites provide big opportunities for the businesses to share their ideas and products in order to improve sales and become successful. Additionally, as successful online marketers like Frank Kern and Jeff Walker have identified and proven with testing, folks hate to be sold to, but they love to purchase from a trusted friend or advisor (Greysen, Kind and Chretien, 2010). The most obvious reason which an entity requires to set up a SM presence is that the association will require to raise the awareness of its brand among society. Furthermore, the advantage of SM marketing is for the organisations to develop best operations in terms of how to create the structure for goods and services improvements. For example, Amazon is one the popular online retail websites, customers reviews and opinions of this site helps in knowing that what society think regarding the goods and services offered by the entities (Kaplan and Haenlein, 2010). Another, good reason to incorporate SM for the business is the fact which once the media has been put up for the important amount of time, the success of this program can be reviewed. Video uploaded on YouTube presents number of total views, likes, dislikes, comments through which effective and best actions can be taken by the management team of the company.
From the above essay it can be concluded that there are ranges of methods of modern marketing through which companies can improve their sales and profitability. It has been found that social media marketing is the best way of interacting with the society (Mangold and Faulds, 2009). This is the platform where companies and consumers can interact with each other. The study shows that there are various importances and benefits of social media networking for society as well as businesses. The essay shows that the major significance of social media marketing is to develop better relationship with organization and its consumers by effective communication. This kind of action will be helpful in improving brand awareness, brand loyalty, trust etc. among society, and hence, market share, sales and profitability of the business will be improved automatically (Pickton and Broderick, 2005). On the other hand this is helpful in reacting quick in the various kinds of problems or issues related to brand, products and services.
The present study has proved to be very enlightening journey for me as it helped me in developing my learning in different aspects. This study is based on the two essay's which are interrelated to each other. For this report I have chosen a topic which enhance my knowledge in the field of several emerging and advanced technologies. It has augmented my knowledge and learning immensely. This study has contributed greatly to my knowledge about the importance of social media marketing as well as various latest and emerging marketing tools. It was a remarkable experience to review all the online sources relevant to this investigation. This study provides me the opportunity to cap off my degree with a major project of self-directed study through investigation and critical evaluation of an aspect or aspects of academic knowledge. Various academic literatures helps me in developing my personal and professional growth. I realized that in order to carry out the whole study in an effective manner I should go through the thorough research with the use of several secondary sources. In the beginning of my study I used to carry out a proper planning of my work so that I can properly manage my time and complete the whole study on a given time limit. Personal and professional development is one of the most important part of an individual's life. Every individual wants to learn something new and develop their skills with the help of acquiring and gaining their knowledge. I was a student study at University of Greenwich Business School and I had done this project to write thematic independent studies. I can go through the better personal and professional development with the help of this study. It provides me opportunity through which I can present my capacity ans skills as a researcher. With the help of this thematic independent studies I can develop my skills and improve several other areas where I lack.
Going through this overall researcher is quite challenging task for me but it turn out to be one of the most valuable learning experiences I ever have in Higher Education. In this overall study only secondary research is take place as no involvement of third party is allow. This secondary research helps me in showing my capabilities as well as skills. every individual tries to learn something and it was my best experience as I have develop my different skills which motivated me to work towards this area. After completing my Higher education, it was my first thematic independent studies based on my personal and professional development. It motivates me to work hard and complete this study without any inconsistency. I have gain something very valuable information from this study and it helps in my future growth. After completing my studies I should develop my personal and professional skills so that I can represent myself in an effective manner. I need to know about certain things which can help in boosting my career ahead. The present topic has been chosen by me for my research as this is one of the most effective topics. People are more interested in knowing about various latest and advanced technologies. It discovered that social media marketing is one of the of the best marketing tool used by most of the companies nowadays. Most of the companies are achieving consistent success because of using different latest and emerging technologies. Writing this essay is one of the extraordinary experience of my life and it enhanced my writing as well as communication skills. I am able to manage my time in a better way and completed my research on a given completion time. It has improved my language and communication which helps be in developing my future. I gained lot of knowledge about the different latest and emerging technologies such as group buying, hyper local, Twitter, Holographic marketing technologies, social centiv twitter marketing tool etc. All these tools are quite latest and it enhanced my information and knowledge level. In addition to this, I faced several barriers while doing this research and it has increased by problem solving capabilities. I am able to solve all my problems in an effective manner and I also improved my existing skills through this study. The overall study is based on the secondary research so I have gone through the various online articles and publications which helped me in enhancing my knowledge. Further, I learned the skills of time management, risk management as well as proper work plan preparation. It also helped in in improving my time management skills and taught me how to allocate time in an effective manner. It is the best way which helps me in realizing which activities are more important. With the help of this I have completed all the important work first so that I will not miss any tasks or important activity.
Moreover, from this overall study I have increased my knowledge about different methods of modern marketing through which companies can improve their sales and profitability. It also tells about the importances and benefits of social media networking for society as well as businesses. From this study I have improved my decision making skills which motivates me to work hard and complete overall study with full efficiency. I was quite sure about the topic that both the topics of essay are reflective to each other. Further, from the overall study it cab be stated that it was the most valuable learning experiences of my Higher Education. Hence all these skills helped me in my personal as well as professional development. It is also valuable in my future research and helps my in enhancing my career growth.
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