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Impact of social media on purchase decision making or customers
The impact of social media on consumer buying behavior
Roles of the internet in marketing
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As the Internet changed the way people live: how they do shopping, organize their vacations, do school researches, social media changed the way in which people communicate and interact with each other. Through the use of social media people can express their ideas and thoughts, can share photos and videos and comment them. Social media became a place that provides a great opportunity to communicate with a large number of people not only for individuals, but also for companies. (http://www.parl.gc.ca/content/lop/researchpublications/2010-03-e.htm)
Facebook was founded in 2004 and since then it’s the most popular social networking site. It provides customers opportunity to create a personal page, add friends, send messages, share pictures, videos and ideas, leave comments etc. In 2009 it had more than 300 million users. Right now Facebook became an essential part of people’s lives. Some individuals believe that Facebook is “a necessity, along the lines of oxygen, water, and food.” Facebook website completely changed social communication. In our days everyone uses social media, it becomes a mainstream phenomenon. Users spend more and more time online. All this shows how new technology revolutionized lives of people, and advertising needs to react to these changes fast.
Facebook is a consistently growing company that continuously adds new features to its platform and other companies can use the popularity of Facebook to reach their potential customers. It provides unique opportunities that didn’t exist before. Along with networking with friends users now can also utilize special applications such as games, fan pages, and gifts. One of the most popular game platforms is Zynga that created applications such as FarmVille, Café World, and...
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...uccessful YouTube campaign was Coca Cola’s Happiness Truck. The message of this campaign was very simple: have a Coke and a smile. It also became viral, because it brought a lot of happiness to the people. (http://www.1stwebdesigner.com/design/youtube-viral-marketing/)
As we can see social media such Facebook and YouTube are having a big impact on consumers, on how they receive messages. Today, it is much harder for marketers to control public perception of their brands. Social media gave an opportunity to users to talk about products twenty four-seven. So rather than ignore Facebook and YouTube as something new and unknown companies should use it as a great opportunity to make their products more interactive. Companies cannot rely on what worked in the past anymore. They should work with new technologies even if there are a lot of questions about their efficiency.
The concept of Facebook as social media is fantastic when pitched as such. In the beginning that was the aim of the website and it was pretty benign. As the website gained traction and users it needed to become a business and generate revenue. Naturally the website added advertisements in order to begin to make money. Eventually advertisement firms discovered that targeted advertisements generate more revenue than non-targeted. This leads the firms to buy user data which Facebook has been collecting. This becomes a symbiotic relationship, where the only person who does not benefit is the user whose data is sold. User’s arguments are relatively weak though, because they sign away their right to selling their data when they agree to the terms of use. Ericsson references an interesting dynamic about groupthink “a lie as a psychological phenomenon within decision-making groups in which loyalty to the group has become more important than any other value”. With this group thought process dangerous outcomes can occur. If a group of people are involved in a website, like Facebook, they feel more comfortable with the idea that their data may be sold. This is due to the group dynamic similar to the “we are all in this together” mentality. It takes individuals to step back and think about what they think about the system. The hope of the users is that they are able to trust the advertising firms to use their data
A prolific author and one of the most influential innovation though leaders in the business world, Dr. Robert G. Cooper once said, “The need for product innovation has never been greater. Product life cycles are shorter than ever and new products make your old ones obsolete” (Cooper). Online advertisements is Facebooks only ‘product’ that makes revenue, but soon it will become old and fade away. Then, Facebook will face real risk of decline unless they develop a new product that will reduce their high dependency on ad
Facebook is the current leader in the trend of online segregation of face to face interaction between us and others. 84 million users are registered Facebook enablers. In 2010 Facebook generated $3.7 billion in revenue. Facebook has earned the title of being the first website to obtain 1 trillion page views in a month. Users are estimated to project 2.7 billion likes and comments every day, in the first three months of 2011.
With social media websites being the main hub of personal information, advertisers are consistently monitoring our social media activity, having the ability to look into our personal information. In the article "Advertising and Consumer Privacy: Old Practices and New Challenges." by Justine Rapp states, “Fueled by advances in capabilities and interconnectedness of computer based technology, advertisers are able to collect and assimilate information on consumers like no other time history” (51). Facebook has become the number one, social media website around the globe. It is the most popular website used by personal and business users in today’s society. In the article “Using Social Media to Reach Consumers: A Content Analysis of Official Facebook Pages” by Amy Parsons states, “As of July 2011, the social network site Facebook claims to have over 750 million members and in the terms of activity.” (27), making it easy to meet and connect with others. Facebook is considered the “hot spot” for online social activity, however, it exposes personal information about its consumers to
Social media are making profound changes in the way we obtain and consume information consumers are interacting; sharing beliefs, values, ideas and intrest. It has changed the way people communicate.
In 2004, when Facebook was first developed, Facebook appealed to businesses by offering the opportunity for businesses to display their banner advertisements. During this time, Facebook was primarily for social media interactions, and marketing wasn 't a primary agenda. This system of advertising changed several years later in 2009 when Mark Zuckerberg decided that his large social media platform should promote businesses since the user base was exponentially increasing. Currently, Facebook
In a world of social media, the influence of advertising is much stronger than it once was, as it is a form of social communication that influences and often manipulates us. Advertising is everywhere from the photo on the front of a magazine, to the online ads that appear as we scroll web pages, and these days is a predominantly visual phenomenon, text is minimal and an image dominates to capture and hold our attention. Much of the advertising seen today is little that concerns the actual product, and more about the construction of the advertising, playing on social needs and desires around it –we buy the product because we believe we need it in order to succeed socially. The ...
Social media avenues are a new, upcoming, and popular way to advertise for businesses and for people to connect to each other. Alexis Ohanian once said that "Being effective at social media, whether for business or personal use, means capturing people who have short attention spans. They 're only a click away from a picture of a funny cat, so you have to make your thing more compelling than that cat. And that can be a high bar." (Ohanian) Powerful usage of social media can have a big impact.
The Popularity of Social Networking Sites In recent years, social networking sites have rapidly gained popularity among people of all ages. A large number of people have registered and become members of some social networking sites, such as Facebook, Twitter, and WeChat. Also, people spend a lot of time on these sites chatting, playing games, and making friends. Social networking sites have become a part of people’s lives.
Social media is an outlet that allows a company to introduce new products, control the speed of how they want to introduce their products and free advertisement. Sending out a tweet or putting up a status would let your customers know about a product that is released. This benefits companies because they spend less money on televised commercials, which takes more time to produce and will not reach as many generations that it could by using social media. Any social media site is free, and it takes less than 10 seconds to put out a post on any website. Facebook has also launched Facebook advertisements, which assist advertisers by showing advertisements to a user based on demographic factors, such as location, age, or gender, and which can further engage the audience by incorporating social context into advertisements, such as displaying when someone’s friend has liked an advertiser’s Facebook page (Li, Lin, & Chiu, Fall2014) . There is nearly 100 million daily active snapchatters and growing. Teenagers are constantly on their phones checking their pages so there is no way they will not know about the product being released. Marketers can discover potential customers for market positioning by filtering the content that online users mention or discuss (Li, Lin, & Chiu,
Nowadays, we are living in the “ technology world”, digital’s century, science and technology are being devolopped like a rain-storm, people try their best effect to serve for human’s infiniti demand. Internet in general and social network in particular are exceedingly funtional tools. Indeed, with over 1.3 billion active users in June,2014 ( Wikipedia), there is no suprise that Facebook has been becoming a leading social network in the world, “Facebook was not originally created to be a company. It was built to accomplish a social mission - to make the world more open and connected” – CEO of Facebook: Mark Zuckerberg (google). Facebook truthly brought many useful; however, it is still “ a double-edged sword”.
Internet has become a vital element in people daily lifestyles. People use smart phones, tablets, laptops or computers to access Internet. By the first decade of the 21st century, many Internet users use faster broadband Internet access technologies. As the Internet users grow, one of the Internet phenomenons that can be seen is social networking. Basically, people use social media to interact among people where they create, share or exchange information in virtual communities and networks.
Social media marketing is a new trend of marketing where different Businesses have taken to social media sites to market and promote old and existing products and brands or create more awareness of their new products. Facebook and Twitter are the two most well known sites where firms market and promote themselves. Over one billion users worldwide use both sites everyday; from averages Joe’s to famous celebrities. Such is the power of each social media site that one post can make or break you.
We can now connect with each other instantly over the internet. It is quicker and easier to communicate and share with each other now than it has ever been. Massive amounts of people access the internet every day, and a good number of them use social media. This means that the ability to use social media and use it well is crucial for modern businesses. Whether for public relations or advertising, social media is now one of the best ways to reach consumers.
In addition, social media changed the way of living and the working level of many people like organizing vacations and researching for school and university projects. With attributes that may affect the way people interact online, social media open a new ways for many newspapers, magazines to publish their issues online to promote their ideas quickly and to let the people in contact with their news and to make more productivity and make more money. Also, they can listen to any type of music, reads books, story, purchase any product, buy clothe online...