Essays On Social Media Impact On Business

What is social media and it’s part in business?

Social media is a broad term and can be defined differently. But basically social media is a set of tools, which helps people communicate with each other by sharing and consuming information.

Nowadays social media makes a significant impact on the development of business. It helps to gain valuable customer insights, increase brand awareness and loyalty, run targeted ads with real-time results, generate higher converting leads, provide rich customer experiences, increase website traffic and search ranking, find out what your competitors are doing, share content faster and easier, geotarget content, build relationships and do many other useful things.

You can watch a video, which explains why business needs social media.

Video provided by Birgit Smit

With the help of the following research study you will take a closer look on how social media really impacts business.

 

Introduction

 

The overall objective of the research project will be to analyze the impact of Social Media on business. The research methodology is going to rely on social media platforms such as Facebook, Twitter, Linkedln and WhatSap. The paper will seek to look at various businesses that rely on social media and other that do not rely on social media and analyze its benefits.

 

Locale of the Study

The study is going to be conducted on online platforms and will involve a lot of online data mining on the different companies that rely on social media as part of their overall marketing models. Hence, access to these businesses’ websites will be crucial to offer access to the required data.

 

Variable Specification

The data for the research will incorporate different variable that includes: being a quantitative research case, correlational research methods are going to be integrated to show the extent to which incorporation of social media affects a business’ gains. This is going to be backed by a causal-comparative to establish the cause-effect relation between the two variables.

 

Social Media (s) ~ Independent Variable

Business Yields (Y) ~ Dependent Variable

Hence, the regression model is:

 

Y = a + p s + p2.

 

a and p are the model’s coefficients.

p s is the coefficient for Social media impact.

P 2 is the coefficient for any other marketing variables.

 

Data Collection and Instrument

Interview schedule

 

An interview schedule was prepared in English and translated into several other languages such as German, French and Italian. The schedule was purposely presented to business representatives that rely on Social Media as a marketing tool. It included three parts namely: knowledge of Social Media marketing, statistics sources on Social Media, literacy and socio-demographics.

 

  • Questionnaire Pretesting:

 

Preceding the field task, the interview plan was pretested amid representatives who have the same qualifications as the actual study representatives. The pretest intended to confirm that the problems can be understood and properly responded. Any part of the questionnaire, which the representatives could comprehend was altered.

 

Focus Group Discussion

 

To back the data that were collected from the questionnaires, a focus group discussion (FGD) was piloted in different social media platforms. There were different contributors in the focus group discussion. Enquiries raised in the FGD revolved around contributors’ understanding of Social Media as a promotional strategy. Respondents were requested to explain the social media impact on businesses as an advertising instrument for the innumerable businesses’. They were also requested to give their remarks or propositions on how the Social Media marketing could be better enhanced to improve business’ yields.

 

Data Analysis

 

The data was encoded and analyzed through its various regression and correlation techniques. Correlation methods such as the Pearson correlation and Spearman’s rho were applied to show the relationship between the representatives’, the sum of data sources on Social Media application, mastery and their understanding of Social Media as a promotion tool. The mean, F-statistics and adjusted R were also used as measures to show social media impact on business as a marketing strategy. This was carried out with the aid of statistical software such as SPSS, Excel and E-View.

 

Limitations of the Data Collection/Analysis

 

  • Inadequate access to various business representatives to undertake the interview schedules.

 

  • Limited time to sieve through the data available on the various social media platforms.

 

  • Language barrier among the various respondents across the different social media platforms.

 

What Does the Future Hold for Social Media and Business?

 

As we know it’s difficult to predict anything exactly, but one thing we can say about the future of social media and it’s impact on business, is that these two spheres will probably be more mutually dependent and information will become a stronger trend.

 

References:

 

BCPS.Org. (2016). Planning the Methodology – The Quantitative Pathway. Develop a Research

Proposal. Retrieved March 5, 2016, from <https://www.bcps.Org/offices/lis/researchcourse/develop_writing_method_quantitative.html>

 

USC libraries. (2016). Organizing Your Social Sciences Research Paper: 6. The Methodology.

Research Guide. Retrieved March 5, 2016, from <http://libguides.usc.edu/writingguide/methodology>

 

Yeditepe University. (2015). Research Methodology. Writing Centre. Retrieved March 5, 2016,

from <https://yuwritingcenter.wikispaces.com/How+to+Write+the+Methodology+of+a+Research+Paper>

Social Media For Business Communication Essay

Social Media for Business Communication

Social media is pertinent in use of communication throughout today’s organizations. There are many social media platforms that allow organizations to convey communication to potential consumers, stakeholders and the public. “It is essential for leaders to integrate these technologies and seek the best way to use social media and networks to the advantage of the business” (Billington, 2012, p.1). Business owners find that keeping up with current technology trends is essential in having a competitive advantage in the market place and having a strict set of standards and strategy is important in quickly adapting to social media trends.
The writer finds social media is important in her current organization, Modern Business Concepts, Incorporated (MBC). With small business organizations such as hers, social media is important in spreading information on who the company is and what they do. Also as a business-to-business sales and marketing company, spreading the word is important in gaining customers and potential employees. Ucok (2014) uses research and experiments to prove how social media is essential to marketing. These platforms were essential in Ucok’s research, resulting in higher response with marketing campaigns proving “the importance of social media in marketing strategy and communication” (Ucock, 2014, p. 95).
Platforms such as Facebook and Twitter allow users to access company information, photos and employees as well as ask questions and express personal experiences with the company. It also allows potential employees to understand the vibe of the organization and gain a deeper and more personal understanding than a website. However, with social media, it is important to not over share company information, which can lead to “implications for data protection and privacy and that companies should develop a privacy framework in their relationships with their customers and their data” (The Business of Influence, 2012, p. 439).
As a contributor to social media platforms on behalf of her company MBC, the writer has come to understand a deeper level of benefits and drawbacks of the ease and reach of social media. “In the space of social media, a large portion of previously passive information consumers has been transformed into powerful creators, transmitters, and discussants of information” (Lee, Oh, & Kim, 2013, p, 792), which the author has seen first hand at the expense of the company. As important as it is spread the word of a small company, having social media outlets can also assist in the ease of negative feedback. Those that have had a bad experience with the company can easily sit behind a computer and post negative reviews of a company reaching thousands, even if the information is not true or exaggerated, costing the company money and new customers. Implications such as these have created guidelines on what to share, how to protect and how to prevent MBC from potential social media...

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