The Marketing Value of Social Media Tools to Business Level Strategy

Abstract

Social media (SM) is considered to be the most popular tool for increasing brand awareness as well as enhancing customer acquisition by companies (Goud, 2016). Multinational companies as well as small-to-medium enterprises (SMEs) are using various social media websites for expanding their business growth across different parts of the world (Kaplan and Haenlein, 2009). Recent research has found that almost 80% of the customers in the near future will be inclined to purchase products on the internet rather than by visiting physical stores. In addition, social media websites provide details of customer's preferences and choices, which help companies to develop marketing strategies aimed at stimulating and targeting customers. Companies use both the traditional marketing approach and the digital marketing approach in order to increase brand awareness and customer acquisition. This paper aims to illustrate the effectiveness of social media in the marketing approaches of companies compared to traditional marketing approaches. Businesses today collect customer feedback from social media websites by introducing various promotional campaigns. Businesses not only collect feedback from their existing customer base, but also help attract more customers by converting the followers of the websites into potential customers. Due to the immense opportunities available through the use of social media websites, businesses prefer social media channels to legacy media (O'Murchu et al., 2004).

Emerging Trends and Innovative Methods in Global Marketing: A Review Paper

“…Indeed, the digital age has significantly transformed the global marketing landscape. With the widespread adoption of the internet, social media platforms, and mobile devices, businesses now have unparalleled opportunities to connect with consumers across borders and engage with them on a personal level [7][8][9]. The traditional barriers to entry in international markets have been disrupted, creating a new era of possibilities and challenges for marketers.…”