Impact of Social Media Marketing Strategies on Business Enhancement:
A Comprehensive Analysis
Priyanka Garg1*, Anshika Garg2
1Integrated Institute of Management and Technology, Ghaziabad, Uttar Pradesh, India.
2Sanskar Educational Group, Ghaziabad, Uttar Pradesh, India.
*Corresponding Author E-mail: gargpriyanka039@gmail.com
ABSTRACT:
Maintaining brand presence through social media is a new trend in India. Few years back, only few MNC giants, telecom companies and local leading firms have their brand presence in social media such as Facebook and Twitter. Moreover, there are some companies that have created a separate department for social media communication for their brands. Many local firms have not yet incorporated brand communication through social media for their brands, or promotion of their products in social media not because of monetary matters, but of having inadequate awareness of the benefits of social media for brand communication. But it is hoped that, in the near future more and more firms will start this new era of marketing and brand communication through social media. This research report is intended to provide a detailed overview of what is social media marketing, and how social media marketing works as an enhancement tool for a business.
KEYWORDS: Social media, Business, Instagram, Tool, Growth, Income.
INTRODUCTION:
Over the last several years, there has been an explosion of growth in popular social media platforms like Facebook, Twitter, Google+, LinkedIn, YouTube, Pinterest, and many others. It's safe to say that the era of social media is just getting started, and the need for social media in business will only become stronger over time1,2,3.
The whole world has seen the impact of the expansion and adoption of social media tactics, and the rising stats speak for themselves. Users are shifting from desktop browsing to mobile browsing and because of that, there is an immense increase in active mobile social media users. Delhi NCR is moving forward by adapting the latest technologies of the world. Adapting the 4G internet technology has made the era of digital marketing for us wider than ever4,5.
More and more people are engaging in social media and other digital media as the days go by. People are connected with internet is growing rapidly which creates a huge space for the brands to connect with their potential buyers. The scenario is getting in the same place in Delhi NCR too. The numbers of people getting connected to internet are growing day by day here6. The rapid growth in online and mobile users in Delhi NCR caught the attention of the marketers and the brands7,8. It has not been of much of time when the digital marketing was only limited to email marketing. Today the brands seek to stand out in the market by using social media rigorously. This study is based on how social media marketing work as an enhancement tool for businesses. In order to succeed in the business a company needs to understand its customer needs and creates wants for them9.10. This paper will give main focus on social media marketing as a business enhancement tool, regarding the services, market segmentation, the size and the growth of social media marketing, market analysis regarding strengths and weaknesses as well as fronting recommendations. The current study aims at finding out the problems faced by in social media marketing, awareness of people on social media marketing and the marketing strategies by social media.
Primary objective:
· To study social media marketing as a business enhancement tool
· To know the awareness level of social media marketing
· To find how social media marketing strategies help the company to increase sales.
Secondary Objective:
· To find out the budget spent on social media marketing by respondents in Delhi NCR
· To know the social media marketing activities, which are used by respondents to promote their product and service
· To find out since how long the respondents are doing social media marketing activities.
· To find out how the respondents manage their social media marketing activities currently
· To find out reasons for not undertaking social media marketing activities
· To know the readiness of respondents to switchover from traditional marketing to social media marketing
· To know the perception on flexibility of social media marketing
· To know the perception of effectiveness of social media marketing to promote business
· To know the perception of cost of social media marketing
The research design is Descriptive in nature. The research design is a blueprint for fulfilling the objectives and answering the questions. Selecting the research design is complicated due to availability of large variety of methods, techniques, procedures, protocol and sampling plans. So, to understand and describe the current market phenomena for Business Enhancement through Social media marketing, Descriptive Research Design has been applied in Quantities research. In that CROSS-Sectional Study has been applied, as units are measured from a sample of the population.
1. Primary Data:
The data which is collected from first-hand experience is known as primary data. This data serves as the main source of data for any research-based project work.
The data can be collected in many ways as mentioned below:
· Questionnaires
2. Secondary Data:
Secondary data consist of published material, or any other reference material which can be useful in the particular project. The source of secondary data is many such as, Research paper, internet. In our survey, we have collected information from websites.
Collection Method:
The data collection method used in this research is survey method. Here the data are systematically recorded from the respondents. Questionnaire were filled by the sample population for data collection. Questionnaire is been used as form of research instrument. Questionnaire is filled through google forms.
Our sample respondents are budding entrepreneurs of Delhi-NCR region. We have conducted a survey of 25 samples to know how they use Social Media Marketing in their business to enhance it.
In our study, we had used judgmental sampling method as our sample was decided on the basis of two criteria.
1. Sample selected must be from geographical area of Delhi NCR.
2. Sample must have budding entrepreneurs and doing marketing of their product and services.
Data Collection Instrument:
For the collection of data, we have used Structured Questionnaire.
Limitations of Study:
Our Study was limited to Delhi-NCR only
Data analysis and findings:
1. Do you think social media is the most sought-after method adopted by entrepreneurs’ young and old in the field of marketing, advertising, brand building, promotions?
Social media has taken over the world in every sense. In the field of marketing, advertising, brand building, promotions social media is the most sought-after method adopted by entrepreneurs’ young and old. 72% people agree wit but 28% of them still believe in the traditional way of marketing.
2. Which is the most effective solution for brand promotion?
Marie Swift suggests that placing an advertisement in the print media is not the best solution for brand promotion. The problem with traditional mass advertising according to Marie is that, these media appeal to a wide range of people who may not even be interested to know who we are. 80% of the people agree with it while rest is still thinking print media has its own significances. Someone said “print media is the only media which has the highest reach as it is read by the old and young population.”
3. Do you think social media marketing will help the firms to find their potential customers?
Promotions and brand building must be done with people whom we think are potential customers for our business. This can be achieved by channelizing a greater part of promotion and advertising budget for activities such as networking, volunteering, hosting events and so on. Out of these methods, networking is the best that suits the need of the time. With the technological advancements in today’s world, it is fairly easy to be connected with the outside world with the help of social networking sites. Yes, 52% of the people agree with it. 28% are not sure and remaining 20% did not agree.
4. Which social networking site are you most familiar with?
In today’s world there are many social networking sites which are helpful for the mass marketing. The objective of this question was to find the website which is the most popular one. Most of the people are familiar with Facebook, Instagram, WhatsApp and YouTube.
Many of them are familiar with most of the social networking sites.
5. Do you think the relative cost is much lesser as compared with traditional advertising?
More than 36% people think relative cost is much lesser as compared with traditional advertising while more less than 24% think it is not. The studies say that the relative cost is lesser as compared the social media marketing with traditional advertising.
6. Do you promote your product or service on Social Media by yourself or through any marketing agency?
32% respondents prefer to do promotion of their product or services by their own self and 28% of the respondents prefer marketing agencies for the promotion of their product and services and rest prefer both.
7. “Social media can be effectively used for various B2C clients to increase sales.” Do you agree?
52% of the people agree with this because most of the people are familiar with social networking sites and they frequently visit these sites.
8. Which one do you think is the most effective social networking site for online marketing?
It shows that most of the people are familiar with Facebook in comparison with other sites like Instagram and LinkedIn. Cab providers like Ola Cabs and Taxi For Sure are more active in Twitter than Facebook. So, it depends on different industries.
9. Are you satisfied with your current social media marketing campaign?
68% respondents are satisfied with their current social media marketing campaign where
32% respondents are not.
10. How much budget do you spend on your brand promotion through social media marketing in month?
40% of the respondents spend 2500 – 5000 Rs in social media marketing to promote their product and services. 28% respondents spent less than 2500 Rs on social media marketing. 20% people spend 5000 – 10000 Rs in social media marketing campaign and the remaining respondents spend more than 10000 Rs on social media marketing in a month to promote their product and service.
11. Do you find social media marketing effective to generate sales as compared to traditional marketing?
80% of the respondents found social media marketing effective to increase the sales as compared to traditional marketing
12. From 1 to 5 rate your experience of social media marketing as a business enhancement tool
32% of the respondents found social media marketing as an effective business enhancement tool.
1. Do you think social media is the most sought after method adopted by entrepreneurs’ young and old in the field of marketing, advertising, brand building, promotions?
a. Yes
b. No
2. Which is the most effective solution for brand promotion?
a. Social Media
b. Print Media
3. Do you think social media marketing will help the firms to find their potential customers?
a. Yes
b. No
c. Maybe
4. Which social networking site are you most familiar with?
a. Instagram
b. Facebook
c. Whatsapp
d. Youtube
e. Others
5. Do you think the relative cost is much lesser as compared with traditional advertising?
a. Yes
b. No
c. Depends
6. Do you promote your products/services on social media by yourself or through any marketing agency?
a. Self
b. Agency
c. Both
7. “Social media can be effectively used for various B2C clients to increase sales.” Do you agree?
a. Yes
b. No c. Partially
8. Which one do you think is the most effective social networking site for online marketing?
a. Instagram
b. Whatsapp
c. Facebook
d. Others
9. Are you satisfied with your current social media marketing campaign?
a. Yes
b. No
10. How much budget do you spend on your brand promotion through social media marketing in a month?
a. 0-2.5k
b. 2.5-5k
c. 5-10k
d. 10k and above
11. Do you find social media marketing effective to increase sales as compared to traditional method?
a. Yes
b. No
12. From 1 to 5, rate your experience of social media marketing as a business enhancement tool?
· 1
· 2
· 3
· 4
· 5
CONCLUSION:
According to the survey, most of the budding entrepreneurs found social media marketing helpful in enhancing their business. This is so because it is the era of social media and a large number of population uses social media and therefore it is being used as an effective business enhancement tool now a days. An area of interest is searched on a social media and concerned people are found and communicated with. Social media marketing creates a positive effect on many business markets such as financial institutions, travel and tourism businesses, retail businesses, knowledge businesses, entertainment industry, and so on. Since the process of social media marketing saves money, time and is highly engaging and interesting social media marketing seems to be the next big thing to hit the world as a whole. One of the biggest advantages of social media marketing as opposed to traditional advertising is that potential customers can be precisely targeted. From this report it can be concluded that social media presence is inevitable in the coming years. Not only that social media is useful as a marketing tool, it has become the order of the day to be present in social media. Therefore, this report recommends all kind of businesses- small scale, large scale, business to business clients, business to consumer clients, manufacturing industries and so on to be actively present in the social media.
ACKNOWLEDGMENT:
The authors are highly thankful to the management of their respective institutions for their constant support.
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Received on 23.01.2024 Revised on 20.05.2024 Accepted on 03.08.2024 Published on 06.12.2024 Available online on December 31, 2024 Asian Journal of Management. 2024;15(4):315-320. DOI: 10.52711/2321-5763.2024.00049 ©AandV Publications All right reserved
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