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Advantages and disadvantages of business social networking
Positive and negative effect of business on social media
Positive and negative effect of business on social media
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Introduction
For much of recent history, small businesses have been able to survive by offering customer-centric services that their larger competitors cannot. There are several things that the “mom and pop shop” can offer that a larger storefront or organization historically can't match. One major advantage of smaller stores is more personalized customer service and a customizable shopping experience.
In an online marketplace, the small business loses this advantage. Large corporations are able to respond to customer concerns immediately no matter what the time or where the customer happens to be through the use of social media. Outlets such as Twitter have helped businesses achieve great success in meeting customer demands and responding to complaints and concerns. Businesses are also able to offer coupons, deals, and special offers through social media. Customers are encouraged to check in virtually, to contribute content, and to otherwise engage with the business and with other customers. The result is a more customer-centric marketplace overall.
In theory, all of these social media opportunities are just as available to the small business owner as they are to large chains and companies. In practice, however, the small business faces difficulties that the larger organizations do not. A successful social media marketing campaign requires more than simply signing up for a Facebook and Twitter account (McCrea, 2012). Without a large budget and a team of web savvy employees, a small business owner will face difficulty reaching and engaging with customers on the level that they've come to expect from larger corporations. Understanding how to correctly and successfully attract and engage customers via social media outlets may...
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...or an off-hand comment, and a good reason to ensure that employees who represent the company online are well trained and web savvy.
References
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Dunning, M. (2014). Social media marketing efforts create web of risks for many firms. Business
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Harris, L., & Rae, A. (2010). The online connection: transforming marketing strategy for small
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Johnston, M., & Marshall, G. (2013). Contemporary selling: Building relationships creating value. (4th
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This paper will discuss and identify the effects of social media, and what will make social media better through research on best practices. Social media is an imperative public relations tool for companies to utilize in their business practices. Social media cannot be regulated so anyone can say what they want about the company, whether it is good, bad or ugly. Social media is developing rapidly and there are new platforms daily, making it necessary for companies to not only be familiar with those platforms, but also know how to reach the consumer through them.
Social media is at the core of many marketing plans for corporations in the United States and world-wide. One of these companies at the forefront of social media use is Wells Fargo Bank, N.A. (Wells Fargo). The ability to directly contact customers and potential customers in a real time online environment is crucial to the bank / customer conversation and reinforcing the company’s place in a customer’s mind as the entity that they want to do business with (Wells Fargo Bank, 2014). This case study will discuss the current status of Wells Fargo’s use of social media as a means to building their customer base. Additionally, historical information on the process of the marketing move to social media will be presented and the development of the roles that are involved in this marketing strategy will be discussed. The impacts to the public sphere and society at large will play into the discourse of the social media topic and finally, the underlying theories will be discussed as they pertain to Wells Fargo and social media.
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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.
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Since social media users grow larger and larger, many companies take the opportunities of using social media marketing to reach more customers. Companies use social media marketing in order to achieve marketing communication and branding goals. Social media allows companies to see what prospects are saying about their brands and competitors. It also allows companies to build deeper relationships with existing customers that drives them to purchase again and again. Not only it can help them generate new leads, but it allows them to build deeper relationships with existing clients that drives them to purchase again and again. It has become common for businesses to branch out and experiment with multiple networks with the aim of reaching the maximum amount of costumers.