Social Media Assignment Help

Introduction

Social media platforms are popular among the public, users could share daily life or other information on the social networking, and interact with each other or browse news they interested. Social networking has become a buzzword since 2010, it catches public attention in routine life. With the development of social media and the large number of users in social media, companies begin to emphasize the role of social media. Social media encourage the involvement of large number of customers and companies, this convenient communication tool is already becoming one of the necessary part of routine life. Many people begin to not only use social media as simple communication tools, but also a learning platform or even a cost saving propagation approach. The wide use and numerous users make the adoption of social media in business feasible, however, there are still some issues in the application of social media in business. In this paper, it would discuss the advantages and disadvantages of social media applying in the business.

Project object

This paper aims at probing into advantages and disadvantages of the adoption of the social media in the business. The corresponding recommendation is also proposed.

Project Scope

Social media is beneficial to the development of business, such as information gathering for companies and bridging gap between companies and customers. However, the wide use of social media may aggregate the negative impacts due to the malicious slander to the business. The scope of this project would discuss the impacts of social networks used in business.

Literature Review

Social media has capture the public attention nowadays, they also provoke the interests of consumers and business around the world. Social media have become the key channels for interaction in the last five years, there are many companies observing the emergence and advantages of social media, and they begin to grasp the chances within this trend (Pérez, et al. 2013).  McCarthyet al argued that the internet enabled a series of intra-organizational relations, which can achieve the innovation in new entrepreneurial form (McCarthy, et al. 2007). They thought that the innovation was not only about the technological innovation but also the form innovation, which can be achieved through the combination of social media. The globalization brings more opportunities and challenges for the business, almost all firms face much more threats, they have to struggle against local market incumbents and other rivals around the world (McCarthy, et al. 2007). Facing such challenges, the internet provides these firms new methods to develop themselves in the globalization environment, especially in B2B and high-tech markets. The most common example is the success of online business, online business gradually invites more and more people to participate in nowadays due to the wide accessibility of electronic devices. Digitalization and globalization provide great opportunity for both merchants and customers, participants can take part in the commercial activities through the social media regardless of the space constraints.

Social media are full of information, and this is beneficial to the business. Adnan et al presented that sellers could obtain plenty of information pertinent to their customers from the web accounts for the success of online transactions (Adnan et al. 2011). Customer preference can be analyzed and recorded by the social network through the various electronic technologies such as data mining and others. The behavior of customers and digital footprint are stored, these valuable data contribute to the analysis of customers preference. The business could adopt a cost saving and effective method to attract more customers, they can predict the needs and expectations of customers through the analysis of their online behaviors in social network. It is beneficial to the business in understanding the customer preference, which will promote selling and maximize the interest. Business could also take social network method to analyze the situation, social network depicts the relations among the various nodes which represent different companies and customers, there are several information technologies to analyze the relationship within the social network. The application of social networks and related technologies could achieve the maximization of benefit and improvement of customers’ experience. The social network technology could analyze the relevant relations among various nodes and discards those irrelevant information which unhelpful to analysis. In other word, the social network enables business easier to make up corresponding strategies for good promotional policy.

Social media can also be adopted to strength the relationship between business and customer on product service. Geierhos and Ebrahim proposed that social networks can be regarded as the additional communication channel between company and individual, the business can build contact centers in social networks which are beneficial to manage all client contact (Geierhos and Ebrahim 2012). There are several of social networks for people to communicate, such as the Facebook, Twitter and others, English speaking consumers are also more inclined to communicate online instead of initiate communication with one organization. Some companies discover this fact and leverage the social network to communicate with their customers online, which is helpful to improve the service quality and address customers’ feedbacks (Rodriguez et al. 2015). For these business, they classify the consumer posts and assign to the related business processes, the business establish an active bridge between themselves and the customers. The business can improve the business process management systems through the combination of social networks. The social networking provides business a feasible and cost-saving approach to acquire the full knowledge of their customers’ demands so that the business can quickly respond to the customers’ requirements, which undoubtedly improve the relationship between the business and consumers. Social networking could be connected with customer interaction management and complement business activity, providing an assignment of customer messages to the business process can effectively improve the business management system. The business can track the customers’ feedback and provide customers better service.

Social networks contribute to developing new customer centric business strategies and corresponding schedules to deal with capricious requirements of customers. The social media is a well-established communication channel for both companies and organization. The application of social media in business strategy shapes the business model and guides the market to a new prospect (Moghrabi and Al-Mohammed 2016). Social media has a great power to change the business model from marketing to operating. It is very common to observe the existence of social media in the business strategy, which dramatically influences traditional business mode. Social networking enables to bring companies enormous customers, it does well in bridging the gap between companies and customers. The emergence of social media take over the role of telephone and email these traditional approaches, it is a more convenient and cost saving method to contact customers. Moghrabi and Al-Mohammed argued that integrated social media within the business was necessary in aggressive and dynamic business environment for the globalization and the proactive requirements (Moghrabi and Al-Mohammed 2016). Social media also create new jobs in companies such as social media officers or social media consultancy.

Social media is a great learning platform for everyone including business people, taking Twitter as example, business people could access to novel and innovative ideas through the communication with minded people on the social networking. Different business people could share ideas on the social media, at the same time, the information gathered from the social media is helpful to improve decision making using information technology. In the decision making process, business could also use social media as major platform to survey, they can conduct an online survey about one product, the feedbacks from investigators are valuable information in making strategies (Schachinger 2013). This kind of survey is interactive and prompt.

Social networks play important role in assisting learning and knowledge management in companies, Maresove proposed this idea for the reason that social networks can be the powerful communication tool, and he took the Europe business as the example to illustrate the benefits and risks of the application of social networks in the business (Maresova 2015). The wide use and growing accessibility of high quality internet connectivity enables the connection between companies and households to be diversified and convenient. Many companies have already realize the importance of social networks, they can build contact center which contains all contacts of their customers. The social networking ignores the constraint of distance and culture, it can track down and spot potential customers. Unlike the traditional market investigation methods such as questionnaire survey, the business could procure useful information easier and faster through the social networking. The development of new technology creates more chances for business to pay more attention to the social networking, on the one hand, the use of social networks is growing all around the world, which means the social networking would have more and more participants and the business can access more people on social networks, on the other hand, although there are many social networks, the number of dominant social networks is decreasing, which means a better chance for business to concentrate on only few social networks while communicate with more users (Maresova 2015).However, there are more and more companies adopting social networks as one important advertising approach, this also means a fierce competition among so many companies in the social networking. At the same time, the social networking is full of various information. Although social networks provide companies information of customer preference and enable companies to seek for potential customers and predict the market, the redundant information burdens the business with superfluous working load, addressing and choosing useful information in social networks. The social networking also has some threats to the business, the abuse of personal data may be the primary issue for business. As is mentioned before, business can survey customer preference through the information online, this process may infringe on personal privacy. The wide use of social networks may also spread negative information of one business, which may access to a large number of users.

However, the social media also shifts the power from the business to the consumer, which impairs the influence of companies. Social media forces the competition among different companies to be fiercer, it enables consumers to access to more optional companies. Customers can make a full knowledge of different companies from the feedbacks in social media, this undoubtedly makes for the interest of consumers, but the company may be fettered by the malicious comments. Negative customer experience and complaints would have adverse impacts on the operation of business. The higher transparency and wide use of social media means the magnification of the negative impacts, bad news would travel faster across the social media among customers. Social media establish a special regulatory mechanism. The customers can access business related information easier, they are more informed and selective, those popular bloggers who have thousands or even millions of followers would have more influence in their circles, their comments on one business would generate greater impacts on the business, no matter positive or negative.

Moghrabi and Al-Mohammed suggests that the social media should be adopted as a supplementation of business instead of a replacement of traditional media, there are still some customer segments that social media cannot reach. Customers who are likely to use traditional media should not be ignored. Online interaction is a cost saving and efficient approach for business to communicate with customers, it still cannot replace face-to-face interaction(Moghrabi and Al-Mohammed 2016).It is beneficial that business could integrate the social networking with business process, social media provides a convenient communication tool for both companies and customers, which greatly bridges the gap between the companies and consumers. Social networks enable companies to obtain the information of customers and then analyze the customer preference. Social networks are excellent in predicting market and making business strategies, they create competitive advantages for companies.

Conclusion

The advantages and disadvantages of the adoption of social media in business are discussed in this paper, it can be seen that business could adopt social media as one approach in decision making, the integration of social media in business process is beneficial to making business strategy. Social media also provides plenty of customers’ information for companies, companies could use information technologies to analyze the customer preference and seek for the potential customers. However, the adoption of social media still has some disadvantages, such as the infringement on privacy and malicious attacks online.

References

Adnan, M., Nagi, M., Kianmehr, K. et al., 2011, Promoting where, when and what? An analysis of web logsby integrating data mining and social network techniquesto guide ecommerce business promotions, Soc. Netw. Anal. Min. pp 173–185

Geierhos M., Ebrahim M. , 2012, Customer Interaction Management Goes Social: Getting Business Processes Plugged in Social Networks, Computational Social Networks. Springer, London, pp 367-389

Maresova P. , 2015, Economic and Technological Aspects of Social Networks in European Business Sector. , Advanced Multimedia and Ubiquitous Engineering. Lecture Notes in Electrical Engineering, vol 352. Springer, Berlin, Heidelberg, pp 85-91

McCarthy, I., Pitt, L., Campbell, C. et al. J, 2007,  Commer Biotechnol, Exploiting the business opportunities in biotech connections:The power of social networks, pp 245-257

Moghrabi I.A.R., Al-Mohammed A.R., 2016, Social Media or Social Business Networks?, Social Media: The Good, the Bad, and the Ugly. I3E 2016. Lecture Notes in Computer Science, vol 9844. Springer, Cham, pp 42-52

Pérez-Latrel F.J., Tsourvakas G. , 2013, Social Media: Managerial and Economic Opportunities and Challenges, Handbook of Social Media Management. Media Business and Innovation. Springer, Berlin, Heidelberg, pp 201-216

Rodriguez M., Peterson R.M., Ajjan H. , 2015, Crm/Social Media Technology: Impact on Customer Orientation Process and Organizational Sales Performance. Ideas in Marketing: Finding the New and Polishing the Old. Developments in Marketing Science: Proceedings of the Academy of Marketing Science. Springer, Cham, pp 636-638

Schachinger A., 2013,  All Businesses are Media Business: The Impact of Social Media on the Healthcare Market. Handbook of Social Media Management. Media Business and Innovation. Springer, Berlin, Heidelberg, pp 795-803

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