Significance of Social Media for Business
Dr. Nancy Agnes, Head, Technical Operations, Tutorsindia info@ tutorsindia.com
I. INTRODUCTION
In the present day, the internet or internet
communication technologies (ICT) have greatly
impacted the manner in which individuals
communicate and develop relationships. It has been
accepted unanimously by people from different
nation, ages and cultures within their day-to-day
functioning and thus enabling them to develop and
sustain a link personally and also professionally with
others. Such type of emerging technological trends
has not only become popular but it is increasing the
reach and finding favour with everyone. At the same
time, it is also impacting the way in which
organizations are conducting business [1]. The
industry sector as such has made the transition from
conventional practices in corporate communication to
adopting public relations practices using social
media. Social media has emerged as the new frontier
in conducting business right from the time it has been
introduced. The use of social media networks and
communities facilitate individuals as well as
organizations to disseminate information, interest,
ideas and other types of interactive expressions
through online mediums. A large number of
organizations today are harnessing the potential of
this platform after they perceived and understood the
inherent benefits from social media [2]. At the same
time, there are several organizations; mostly small
and medium enterprises (SMEs) and start-ups that
are still not very open to integrate social media into
their marketing strategies. Therefore, it becomes
necessary that they comprehend the power of social
media and what it can do for their business.
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Social media pertains to content that has
been created by users (individuals or organizations).
A very decent example would be Twitter, which is a
freely available micro-blogging service that enabled
registered users to broadcast short posts called tweets
and follow other users. On the other hand, Facebook
facilitates users to post pictures, ideas, videos and
allows anybody from the user’s friends to like, share
and comment on the post [2]. Thus, social media
establishes a potential market and offers users with a
platform to create an impression about their business
and thus helping them to develop brand, reputation,
credibility and image. Considering the number of
users that exist on social networking sites, it becomes
more lucrative for organizations to make an entry into
social media. For example; Facebook is known to
have around 2 billion users the world over and a user
base this large has the potential to reach out to a huge
audience base at costs that are comparatively low and
thus placing it at the forefront of decision-making in
business [3].
Figure 1: Number of Users on Social Media
Networks
Source: Tankovska [4]
Irrespective of the number of users on social
media and other relevant trends, there are sceptics
who ask ‘why should I use social media?’ Let me list
out some benefits from using social media.
II. SOCIAL MEDIA AND ITS SIGNIFICANCE
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However, you should have knowledge about what
message you want to convey, how you want to
project yourself to your customers and what is the
image that you are keen to create. This is a rather vast
domain therefore; it is a bit difficult to conclude with
so short a write-up. Stay tuned and watch this space
for a follow-up to this post.
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III. CREATE AWARENESS
Once a SME business owner was asked why
his business was not on social media. His reply –
“ours is a small business, why do we need social
media”. What they don’t realize is that the reason
their business is small is because people are not
aware of them. In a scenario where people are
clueless about your business, there is no way that
they will become your customers. Using social media
would help to create awareness amongst your target
audience. It would improve visibility and help you
reach a large audience base.
REFERENCES
[1]
R. Venkateswaran, B. Ugalde, and R. T., “Impact
of Social Media Application in Business
Organizations,” Int. J. Comput. Appl., vol. 178, no.
30,
pp.
5–10,
Jul.
2019,
doi:
10.5120/ijca2019919126.
[2]
T. P. Singh and R. Sinha, “The Impact of Social
Media on Business Growth and Performance in
India,” Int. J. Res. Manag. Bus. Stud. (IJRMBS
2017), vol. 4, no. Ijrmbs, 2017, [Online].
Available:
http://ijrmbs.com/vol4issue1SPL1/tinap.pdf.
[3]
M. Y. Abuhashesh, “Integration of social media in
businesses,” Int. J. Bus. Soc. Sci., vol. 5, no. 8,
2014,
[Online].
Available:
http://www.ijbssnet.com/journals/Vol_5_No_8_Ju
ly_2014/20.pdf.
[4]
H. Tankovska, “Number of social network users
worldwide from 2017 to 2025.” 2020, [Online].
Available:
https://www.statista.com/statistics/278414/number
-of-worldwide-social-network-users/.
[1]
R. Venkateswaran, B. Ugalde, and R. T., “Impact
of Social Media Application in Business
Organizations,” Int. J. Comput. Appl., vol. 178, no.
30,
pp.
5–10,
Jul.
2019,
doi:
10.5120/ijca2019919126.
[2]
T. P. Singh and R. Sinha, “The Impact of Social
Media on Business Growth and Performance in
India,” Int. J. Res. Manag. Bus. Stud. (IJRMBS
2017), vol. 4, no. Ijrmbs, 2017, [Online].
Available:
IV. CONVEY AUTHORITY
Customers today have become rather savvy
and are more astute about the business they prefer
and support. Prior to arriving at a purchase decision,
they tend to conduct a detailed research to understand
your product and your business. Therefore, creating
robust profiles which is not only relevant but is
updated frequently will tend to develop the authority
of your brand and ensure that you succeed in making
a first positive impression using social media. It will
inform the customer that your business is
approachable, trustworthy and knowledgeable.
V. SHOWCASE AUTHENTICITY
A potential customer would not be
interested in your business if the content that you
publish would be social media posts that are strictly
corporate and rather dry. Instead, showcasing
authenticity on social media would help the
personality of your brand to shine through clearly
through every social media content that you upload.
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2
http://ijrmbs.com/vol4issue1SPL1/tinap.pdf.
[3]
M. Y. Abuhashesh, “Integration of social media in
businesses,” Int. J. Bus. Soc. Sci., vol. 5, no. 8,
2014,
[Online].
Available:
http://www.ijbssnet.com/journals/Vol_5_No_8_Ju
ly_2014/20.pdf.
[4]
H. Tankovska, “Number of social network users
worldwide from 2017 to 2025.” 2020, [Online].
Available:
https://www.statista.com/statistics/278414/number
-of-worldwide-social-network-users/.
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