Social Media Impact on Business

Abstract:

Social media offers an opportunity to connect and interact with your customers, to promote your brand and drive traffic to your website. Getting involved in social media creates an opportunity for more face to face interaction which can help in building business and also fun at the same time. On the basis ratings given to their products by other customers, more customers get influenced to buy the product if the rating is good. This is beneficial to the company.Social media sites such as blogs and social networks allow people to form connections with other users and brands and share content such as messages, news, videos and photos. Sites such as Facebook, Twitter and YouTube, blogs, LinkedIn, Google+ have experienced novel growth over the last few years and are some of the most talked about destinations on the web. The purpose of this research is to understand the impact of social media on how companies market their business. 68% of companies are already successful in business. 80% companies combine both traditional and social media. 84% companies want to approach the social media, 2.55 billon users of social media. So we can easily attract and contact them. Almost 46% web users are addicted to purchase online. Our 1^st hypothesis answers that 68% of the companies that are dependent on social media are successful in their business.

Key words: Business opportunities, social media, business performance, marketing.

Introduction:

Social media is a part of marketing. It makes cool interaction with the customer and also it easy to convey our information to customers, for example, in Facebook we can easily reply for their messages and also satisfy their needs, this will make the marketing strategy. When we respond to their problems we can understand about the company issues and thus it helps to improve their business as well as possible. And also people are happy when the company will reply because some people do not see advertisements, they like it when we contact them personally through text message. In social media when people see more likes, page views and comments, and it becomes the word of mouth. They also interest to view the business. When we provide the services based on the customers they more likely to buy the product. Social media not only enhances company’s name but gives what the customers expect.Social media will help to connect with the new customers.Some of the small firms do not realize the importance of social media in marketing their business. They consider it to be an expense that doesn’t yield them anything.But in today’s technical and competitive world if a company has to sustain in the market, it is important to adapt to new changes.

Literature review:

Prof. Sandeepbhanot (2012) in his paper “a study of social media impact on company performance” social media can be defined as an instrument that helps to communicate and interact like T.V, newspaper, radio, technique, web-based and mobile. First, business process which will transform their relationship with customer. Secondly, how company can protect the power of social media keeping in mind of pitfall (danger place). Andreas Kaplan and MechaelHaenlein (2010) defined social media as “a group of internet based application that build on the ideological and technological foundation of web 2.0, which allows the creation and exchange of user generated content. Business may also refer to social media as consumer generated media (CGM). Martin smiths (2012) “the impact of social media on business performance” aims to better understand the social media environment and the impact of common social media tools used in practice. They analyze a case and assess how business managers and IT managers in a successful social media based company evaluate this impact. Aula, Pekka (2010), in his article, focuses on the threat and risk of social media to the reputation of business” it says the events where it involves the influence of social media and how publicity can give negative impact to the reputation of company. It notes on the most popular and interesting social media services based from the corporate perspective which include Facebook, My Space and Twitter. Bruhn manfried et al (2012) in their study titled “are social media replacing traditional media in term of brand equity creation? “Trying to investigate the relative impact of brand communication on brand equity through social media as compared to traditional media. In juxtaposition of different industries aims at:  investigating both communication instruments has an impact on consumer based equity comparing the effect size of this two communication instrument: and separating the effect of firm created and user generated social media communication. Duttasoumitra (2010) in his article on social media strategy in Harvard business review says that social media are changing  the way we do business and how leaders are perceived, from the shop floor to the CEO suite.  But whereas the best business are creating comprehensive strategy in this area research suggests that few corporate leaders have a social media presence say, a face book or LinkedIn page and those who do not use strategically. Today’s leaders must embrace social media for three reasons. First they provide a low cost highly accessible plat form on which a personal brand can be built, and also communicates our identity within and outside the company. Secondly they allow engaging rapidly simultaneously with peers, employees customer and the broader public in order to leverage relationship, show commitment to a cause, and demonstrate a capacity for reflection. Third, they give an opportunity to learn from instant information and unvarnished feedback.

Objectives:

To study how business use social media give an opportunity to connect and interact with the customer.

To study how social media improves the business performance.

To study how the social media has impacted customers.

To study how use of social media will increase sales.

Research methodology:

This research is based on the secondary research methodology; we want to know how much social media is used for the business. We take the information from websites like proquest, Google, LinkedIn, quora and also literature review will help to clearly understand about research topic.

Social media for business:

In the 2016 marketer’s guide says social media networks are fantastic resources for business for promote the market and it say the social media users are around 2.55 billion. This is our own interest to use, and also when business will promote their advertising it will directly reach our current and new customers. Doesn’t mean your business should be on every network. It’s important to choose the social networks and also work best for the business as well as possible. Social media helps to learn more about the market for better business.

Facebook:

Facebook is the biggest network on the web, both in terms of name recognition and the total number of users. The 2016 market guide says 1.55 billion active users. Facebook is great social network for connecting people form the all over world with the business. 70% of the business were contact the customers through the Facebook.

YouTube:

Beginner’s guide says use YouTube for your business and also it says nearly 85% of adults were consider themselves a regular YouTube users. It easy to use, especially all social signals makes YouTube is an important part of social media for marketing strategy. The video and new videos even help to attract new subscribers they were enjoy watching and it’s taken their interest to business.

Twitter:         

67% of twitter users are like more to buy, but 37% users will purchase what brand they follow. Business says over 90% customer will get their brands by seeing discount and promos, and also they follow five or more brands.

LinkedIn:

LinkedIn is the most professional of the social network, over 135 million business used for professionals worldwide. It is largely focused on business to business connection and also big part of marketing strategy. In here easy to optimize personal details as well as company page on LinkedIn to engage with the target of customer

Pinterest:

Pinterest have 83.8% of luxury brands in presence and also 90% of US online use for retailers.Pinterest uses are not just looking the creative on the network; they are also ready to buy. Compare to other social media pinterest pins prices get 36% more likes.

Instagram:

Instagram categories by luxury data is 67%, luxury auto 60%, quick services restaurant by 53%, clothing 51%, TV 42%, beauty 39%, retail and consumer merchandise 33%, travel or leisure 24%, food or beverages 23%, automotive and social media news publishing were taken same place 21% and financial service taken 12% in Instagram% of brands post one or more photos per week to their Instagram accounts.

Hypothesis:

1.      We want to find out if all the businesses realize the importance of social media. Hence we can write the following hypothesis:

H1: Social media is important for their business.

2.      We need to see social media give an opportunity to connect and interact with the customer. Hence we can write the following hypothesis:

H1: Social media gives an opportunity to connect and interact with the customers.

3.      We want to check if social media actually increases the business. Hence we can write the following hypothesis:

H1: Social media increases their business.

As secondary data says in literature review Prof.SandeepBhanotresearch wise 68% of companies are already successful in business. 80% companiescombine both traditional and social media. 84% companies want to approach the social media.

As we already mentioned, there are2.55 billon users of social media. So we can easily attract and contact them. 

As per our observation, almost 46% web users are addicted to purchaseonline. Our 1^st hypothesis answers that 68% of the companies that are dependent on social media are successful intheir business.

Observation:

Form the secondary data

In 2015 survey says 38% of female and 62% of male will use the social network for the business purpose. And also it says between the ages 35 to 44 especially for men were more use; least users are between the ages of 18 to 20. Social networking is the top online activity in US, with the average American spending 37minuts per day. The 46% of web users were purchase their purpose in social media. The statics trends say social media adoption of top brands like Facebook-99%, YouTube-97%, Google+-70%, pinterest-69% and instagram-59%. The social media use their business to growth 8 out of 10, 3 in 5 new customers by using social media. The business to business marketers invest in social media to 83% for increase their brand, 69% for increase web traffic and 65% to gain their market insights.

The top reasons for people follow bands on social media like promotion and discounts, latest products information, provide customer service, entertaining content and ability to offer feedback.

Altimeter group defines the social media use for the business like planning is the 1st stage for the business, planning stage use 6% form the social media.

Scope:

On the basis ratings given to their products by other customers, more customers get influenced to buy the product if the rating is good. This is beneficial to the company.

Conclusion:

Coming to the conclusion part this research says almost all companies are dependent on social media. As it is an easy way toconnect with the customers and also increase their business. They not only concentrate on their sales growth but also want to satisfy their customers by maintaining good relationship.And most of the companies that use social media are successful. So the social media best of best to business. 

Is Unity is necessary for family?

In every family unity is very important, without unity the family can never stay in jointly. Treat the entire member in the family equally. A family's right to live together is protected by international human rights and humanitarian law. There is universal consensus that, as the fundamental unit of society, the family is entitled to respect, protection, assistance, and support.

A right to family unity is inherent in recognizing the family as a group unit. The right to marry and found a family also includes the right to maintain a family life together. Family is the social group that unit all its members. It provides its member with protection, security and support and encouragement to succeed in life.

Strong families recognize that there are benefits and pleasures to be gained from time and activities together. They value the family bond and make special efforts to preserve time together for family activities and interaction. By spending pleasant time together, families build a reserve of good feelings and are able to cope with personal and family crisis more effectively. Strong families are deeply committed to the family unit and to promoting the happiness and welfare of each other.

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What is Co-ordination?

The ability to use different parts of the body together smoothly and efficiently family coordination is must for family. Coordination is done to achieve the objective of family; coordination is the process is not fixed. It applies to group activity; it doesn’t apply to individual activities. It doesn’t come automatically it leads to unity of action.

Coordination encourage the family spirit, it gives direction to the family. Coordination helps a family to take a good proper decision,  coordination is function of family management- mine is joint family in my family before taking any decision all family members are sit together and discuss about the problem or about the decision, if all are accept the decision later we will apply into the family

Coordination improves the relationship in the family, grandfather coordinate with his son and later son coordinate with his sons, so here they are maintain the relationship. Coordination improves the goodwill of the family and it helps to earn he good name in the society. Healthy families engage in positive and meaningful communication. 

Family members listen to and genuinely care about what the others are saying. In healthy families, communication is on a deep enough level that all members are able to share their feelings, goals, accomplishments and experiences. When feedback and constructive criticism are given, love and affection are made clear by the use of positive words.

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 Is family member necessary to having Adjustable skill?

Every people are not having equal quality in the world.  A change that makes it possible for a person to do better or work better in a new situation. When a person livening in the joint family he must have the adjustable skills he must adjust with a people is more important in the family. 

specially girls must having this skills because when she marry with other went to new house that time she understand the family and adjust with other member in the family.

In a joint family a little child learn about adjustment by seeing family members, in a family if everyone understand and adjust with everyone it is helps to increase a family reputation and also maintain the happiness in the family. Adjustable skills helps for coordination.

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Supportive is necessary for family?

Family support is the support of families with a member with a disability, which may include a child, an adult or even the parent in the family. Teenagers need love and support from parents at a time when lots of other things in their lives are changing. You can keep your relationship with your teenage child strong through ordinary, everyday activities. Many people think that families become less important to children as they move into the teenage years. But your child needs your family and the support it offers as much as she did when she was younger.

It’s true that family relationships change during adolescence. When your child was young, your role was to nurture and guide him. Now you might be finding that your relationship with your child is becoming more equal. 

Most young people and their families have some ups and downs during these years, but things usually improve by late adolescence as children become more mature. And family relationships tend to stay strong right through.

For teenagers, parents and families are a source of care and emotional support. Families give teenagers practical, financial and material help. And most teenagers still want to spend time with their families, sharing ideas and having fun.

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 Why Helping nature is required in family?

Helping nature means Voluntary action intended to help or benefit another individual or group of individuals, such as sharing, comforting. I would like to tell one story about helping nature.

Once there was a small boy named Shankar. He belonged to a poor family.  One day, he was crossing through the forest carrying some woods. He saw an old man who was very hungry.  Shankar wanted to give him some food, but he did not have food for his own.  So he continued on his way.  On his way he saw a deer who was very thirsty.  He wanted to give him some water, but he did not have water for himself.  So he went on his way ahead.  Then he saw a man who wanted to make a camp but he did not have woods.  Shankar asked his problem and gave some woods to him.  In return, he gave him some food and water.  Now he went back to the old man and gave him some food and gave some water to the deer. The old man and the deer were very happy.  Shankar than happily went on his way.

However, one day Shankar fell down the hill.  He was in pain but he couldn’t move and no one was there to help him.  But, the old man who he had helped before saw him; he quickly came and pulled him up the hill.  He had many wounds on his legs.  The deer that Shankar had gave water saw his wounds and quickly went to forest and brought some herbs.  After sometime his wounds were covered.  All were very happy that they were able to help each other.

Moral of this story is “if you help others then they will helps you. 

In a family if you are stressed or feeling low they can help you by talking things through, being there for you or providing emotional support. Family members can helps with practical support and also emotional support.

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