Social Network and Enterprise

Question: Discuss about theSocial Network and Enterprise. Answer: Introduction: Over the past decade, the social media marketing has been an integral part of the business, as it provides enormous supports to the organizations to promote their products and services to the large demographic areas as well as in the international market (Tuten and Solomon 2014). Most of the business analysts have discussed that the impact of social media largely influences the small and medium enterprises. In recent years, organizations have been utilizing the various forms of media vehicles including social media, printing media, news media, etc (Saravanakumar and SuganthaLakshmi 2012). However, the social media has been increasingly popular due to its ability to spread the product and service information without spending adequate financial resources. In this particular report, the importance of the social media tools including Facebook, LinkedIn, and YouTube have been discussed in context to the enhancement of the brand value. Moreover, the utilization of the social media has been analyzed in a detailed manner. In this assignment, the primary purpose of each social media has been thrashed out relating to the organizational performance. Moreover, the best possible utilization of social media in the business has been highlighted. Overall Summary of Social Media Use and Appropriate Content: According to Evans (2012), social media platforms have been offering extra value to the business. With the involvement of the social media, most of the small and medium organizations have been enhancing their promotional activities in an efficient manner. By analyzing the recent business report, it can be assessed that there are over 3 billion internet users and out of that 3 billion, 2 billion have active social media accounts. Grangier and Fischette (2012) have discussed that the popular social media platforms become marketing giants who offer valuable data of products and services to the customers across the globe. Organizations often thought of utilizing the social media before 15 to 20 years. However, in the recent years, the utilization of the social media is no longer optional. There is the huge potentiality of the social media for enhancing any business in an efficient manner. By analyzing the beneficial aspects of the social media, it can be identified that the particular pl atform facilitates the organization in gaining the valuable customers insight. According to Lubasch (2012), social media is responsible for generating mounting of data about the audiences in real time. By analyzing the business report of the social media, it can be identified that over 500 million tweets, 4.5 billion Likes on FaceBook and 95 million photos are uploaded daily basis (Miller 2013). Hence, the particular data clearly indicates the power of social media. Besides this, the utilization of the social media indeed facilitates the organizations in enhancing the brand awareness and loyalty of the audiences. Over the past few years, the social media platform has been facilitating the organization in spreading the product and service knowledge across the large demographic areas. Consequently, it would facilitate the organization in enhancing the brand awareness of the customers. With the involvement of such process, the organization could easily retain the customers in the busin ess. By analyzing of the recent business report, it can be assessed that 53% of Americans who follow brands on social media are more inclining to that particular brand (Berthon et al. 2012). Moreover, the particular process indeed facilitates in enhancing the brand value within the short timeframe. Kumar and Mirchandani (2012) have discussed that the social media promotion indeed contributes in promoting the higher converting leads. Through the engagement of the social media platform, most of the organizations have been focusing on improving their sales opportunities. The impact of the social media not only facilitates the small and medium enterprises in spreading the products knowledge to the large demographic areas but also contributes the multinational organization in improving the sales of the business. The social media platforms including Facebook, Twitter, LinkedIn and YouTube have been facilitating the organizations in providing the rich customer service experiences. It has been reported that over 67 percent of consumer depends on the social media for obtaining the customer services in an efficient manner (Papasolomou and Melanthiou 2012). Most of the consumers have been using the social media platforms for having the fast responses times and 24*7 supports. Aside from th is, the involvement with the social media indeed facilitates the organization in evaluating the competitors action. The particular promotional platform contributes the organization adequate opportunities in monitoring the competitive market. Nowadays, most of the organizations have been utilizing the social media platform for sharing the content of the products and services faster and easier. Hence, it can be assessed that the social media platforms become one of the integrant parts of the business. Use of Each Listed Tool: In the era of technological advancement, the number of social media platforms is increasing in an effectual manner. The media vehicles including Facebook, LinkedIn, and YouTube have been facilitating the most of the organizations in enhancing the branding of the company. Brand value of the business facilitates in engaging a large number of customers within the short timeframe. Facebook: Facebook is one of the most important social media tools for the enhancement of the business. In the recent years, most of the organizations have been focusing on their individual Facebook pages in order to enhance the business opportunities in an efficient manner. Kumar and Mirchandani (2012) have suggested that the particular social media tool is increased exposure to the potential customers. By analyzing the recent business report, it can be assessed that the Facebook has over 1.19 billion users as of 2016 (Berthon et al. 2012). With the involvement of the particular platform, most of the organizations have been spreading the product and services information across the global platform. Besides this, the particular process also contributes the companies in gathering a huge amount of leads within the targeted timeline. By liking the Facebook page, the customers could easily obtain the updated product information. Most of the business analysts have agreed with the fact that t he enga gement of the Facebook social media, organization could easily create a long-term sustainable business in an effectual manner. Nowadays, Facebook becomes the part of the daily life. It can be identified that the social media vehicle like Facebook hammers the customers continuously for acquiring the product knowledge in an appropriate manner. However, in past days, most of the organizations hammer the customers through the traditional forms of advertising including the emailing. Sometimes, it failed to provide the adequate information regarding the products and services in times. Hence, the utilization of Facebook allows the organization in spreading the product information to the customers within the short time frame. Aside from this, the particular platform indeed facilitates the organization in decreasing the marketing expenses. It can be evaluated that the Facebook advertisement is inexpensively comparing to the traditional form of advertisement including the printing, radio, or TV advertisement. LinkedIn: LinkedIn is one of the important media vehicles that facilitate the organization in enhancing the business opportunities in an effectual manner. The LinkedIn page contributes the organization in improving the quality sales of the business. On the other hand, the particular platform facilitates in establishing the organizations public image on a global scale as a renowned and trustworthy organization (Kumar and Mirchandani 2012). Most of the people consider the LinkedIn as a platform for acquiring information about the new job. The job hunters obtain the high facilitation from the particular social media platform. Apart from providing the latest news of Jobs, LinkedIn is also an effective tool for generating new commerce leads and nurturing the referral relationship. A business report published on 2013 clearly indicates the fact that 84% of the users have generated several business opportunities from the utilization of LinkedIn (Kumar et al. 2013). By visiting the LinkedIn page, the c ustomers would be able to obtain the organizations previous history. Moreover, the particular platform has been facilitating the organization in engaging the audiences across the domestic and international market by providing adequate information. The LinkedIn page shares the adequate career opportunities to the job seekers. Moreover, it contributes in scaling businesss word of mouth marketing in an efficient manner. Most of the organizations have agreed with the fact that LinkedIn has been contributing adequate opportunities to the organizations in creating shareable content that benefits businesss audiences. With the LinkedIn page, the small and medium enterprises could be able to introduce the new products and services to the large demographic markets. Hence, it can be assessed that the LinkedIn has been playing an important role in enhancing the business opportunities in an efficient manner. YouTube: Over the past few years, the video promotion has been increasingly popular for enhancing the product promotion in an effectual manner. It has been seen that the effectiveness of the YouTube promotional video has a huge impact on any business. With the involvement of the video promotion, YouTube indeed capture the attention of the audiences. In a report, it has been published that the viewers across the globe watch the v videos for hundreds of millions of hours each day. On the other hand, the statistics say that 300 hours of YouTube videos are uploaded each minute. YouTube has more than 1 billion users. Moreover, the viewers are increasing by 50% each year (Kaplan 2012). YouTube provides the best possible platforms for the organizations in spreading the product information through video format. The popularity of the YouTube channel is enhancing in a robust manner, as it is a cost-effective process for promoting certain service or products in an efficient manner (Castronovo and Huang 2012). Besides this, the particular platform indeed facilitates in creating the viral marketing across the domestic as well as in the international market. Nowadays, YouTube facilitates the organizations in obtaining the worldwide accessibility. Consequently, it enhances the promotional effectiveness of the business in an efficient manner. Over 75 countries, YouTube is accessible. Moreover, the particular channel in available in 61 languages (Vinerean et al. 2013). Hence, it can be assessed that the engagement of the social media tools including YouTube indeed facilitates organizations in spreading the product and service information across the global platform. Subsequently, it would facilitate the organization in improving the brand awareness of the business. Without integrating the brand awareness, organizations would not be able to improve the sales margin of the business. Hence, the involvement of YouTube in the business promotion is one of the major factors for achieving the go als and objectives of the organization. Figure 1: Media Vehicles (Source: Castronovo and Huang 2012) Assessment and Recommendations: It can be concluded that the importance of the social media is enormous, as it facilitates the organizations in enhancing the business opportunities in an effectual manner. In most of the cases, the social media marketing has been facilitating the organizations in spreading the product or the service information in an inexpensive manner. Most of the business analysts have agreed with the fact that the involvement of the social media has brought a new road to the small and medium organizations that leads to the path of success (Hays, Page and Buhalis 2013). However, there are some challenges in enhancing the trade opportunities through the utilization of the social media vehicles including Facebook, LinkedIn, and YouTube. The prime challenge of the social media advertising is to monitor the implemented process in an appropriate manner. Recommendations: Monitor the System: The management of the organization needs to focus on implementing a monitoring team in the business for tracking the growth of the process in an efficient manner. Moreover, the engagement of social media would facilitate the organization in accumulating feedbacks from a large number of audiences. Hence, the management team needs to collect those feedback provided by the customers in order to retain the flow of the business. Daily Update: Nowadays, audiences are more inclining to the social media than their normal works. For attracting the customers and enhancing the brand awareness, the management of the organization needs to provide the updates for the products or services on a daily basis. Consequently, it would lead the organization towards engaging a large section of customers within the short timeline. Innovative Promotional Activity: The organization utilizing the social media vehicles including Facebook, LinkedIn and YouTube need to focus on promoting their products or services through innovative promotional approaches. For instance, if the organization has been utilizing the YouTube platform for advertisement, they need to prepare attractive video commercial so that it can engage a huge section of audiences in the business. References: Berthon, P.R., Pitt, L.F., Plangger, K. and Shapiro, D., 2012. Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy.Business horizons,55(3), pp.261-271. 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