Discuss about the Decade Of Popularity Within The Internet And Social Media Marketing.
With globalization, internet and social media, business organizations began to leverage internet and social media as important marketing tool for reaching their target market as well as a conventional communication medium which is accompanied with high budgetary constraints and more time usage. Social media sites such as Facebook, Twitter, YouTube, Instagram among others have enabled marketing managers within various businesses to build brand locally and globally through creation and maintaining of company’s profile for effective customers thus gaining a competitive advantage over their competitors.
Use of internet and social media has become part of many of people’s daily lives. For example, the current rate of internet usage among Japanese adults is about 86% and almost 98% for various demographic groups like college level educated and high income population categories. People are getting more and more exposed to the internet and social media daily for reasons such as search of information about their products, purchase and consumption of various products communication with other people about their experiences and various feedback and suggestions on how to improve their products.
Due to this, marketers have been forced to increase their various digital marketing channels so as to respond to the increasing popularity of internet and social media marketing as well as improving their market share and therefore increased sales that aids to profitability. In 2017 it was estimated that almost one-third of the worldwide expenditure was to put more focus on being in the various digital channels which aids the future markets to be done in digital settings especially social networking and mobile phones. The world marked a great milestone of a 50% worldwide internet reach in 2017 (Sonia, 2017), the global community has been able to understand the importance of digital equity for all social and economic growth and opportunities so as to be able to set targets as part of their ever day development goals. Effective policies needs to be put in place so as to aid a healthy competition and to protect their customers.
This report has based its findings on acceptability of internet and social media marketing and its use by various cultures, its impact on marketing between Japan, Italy and India as the base country. However, marketing managers focus their efforts towards regularly staying online to find new market opportunities, increase market share, build brands and engage customers in local as well as global marketplace.(Müller et al. 2015)
Various social media and network platforms is a technology that is important for daily lives, ‘the power of social networking is such that the number of online users is expected to reach 2.9 billion by 2020, around a third of the global population.’ (Bishal, 2009). Italy, Japan and India are among the regions with the greatest penetration rate of social network whereby 60% of their population own social media account.
Internet marketing is the use of digital resources to link people and businesses, (Kotler & Kelvin, 2012). It is also seen as ‘the promotion or selling of products or business on social networks with the specific goal to create content that will be shared on several sites and profiles’ (Keitzmann, 2013). It delivers information at faster rate with lowest possible cost and produce feedback instantly as well. For instance, when a Facebook or Twitter user likes, or retweets company’s page, he/she is selling and advertising the company’s brands to his/her friends.
Globalization with internet and social media, business organizations’ marketing managers began to leverage internet and social media as most important marketing tool for reaching their target market, in addition to conventional communication medium which is accompanied with high budgetary constraints and more time usage. Sites such as Facebook and Twitter have enabled marketing managers in businesses to build brands locally and globally through creation and maintaining of company’s profile for effective. (Goubjorg, 2014).
Business organizations have possibility of getting new market opportunities, increase market share, position and reposition existing and new products and services and connecting local and global market within shortest time with lowest possible costs (Anand, 2015). Various strategies enables brand recognition due to a wide consumer engagement. “The new media world has in many ways leveled the playing field. Now not spending a lot of money can get them something. Not only is it cheaper, it’s often measurable”. (Neff, 2013).
It increases more traffic because marketers are able to acquire new customers with varying needs and ideas. With time social media traffic enables the company to develop a higher ranking and create quality content which can be able to be liked and shared by many online users thus increasing profitability. It is also able to give a better satisfaction to customers because customers are assured that when they post their comments on a company’s page, they are able to receive responses which are personalized to them and not the automatic messages which may not be specific to their needs. A company’s page that is able to acknowledge every customers comment means that they pay attention to customer needs and are focused on providing best experience. Interaction with each customer on company’s social media account is a great opportunity for companies to show their compassion to customers. If a customer has a question or a complaint, social media will enable the company’s customer service to address their matters at a personal level through personal dialogues. (Anon n.d.)
India’s Internet and Social Media Marketing
India is among the top three countries with more than 100 million users on Facebook and 33 million users on Twitter. Most companies use Facebook, Twitter and Instagram as the most important platforms for market connection. (Dinesh, 2015). They also create their own YouTube channels for producing, creating and delivering video content for promotional purposes and building new brand awareness. Several companies introduced new platforms for instance, Google+ and LinkedIn became the most prominent with 40% and 30% users respectively.
Social marketing platforms provides a way of engaging with prospective and potential customers, expanding brand presence, enabling geo-tapping features for businesses, building new brands, building community and customer engagement. Internet has assumed significance as the most easiest, economical and widely used medium of communication among people either of the same or different geographical location.
Flipcart is a prominent online tool in India that uses various strategy to market their brand. It has a great focus on customer service so as to keep it ahead of its competitors. It has a friendly Facebook page whereby it gives communication about the most recent fashion trends, events, promotions and festivals. Its Twitter team has the largest community with many influencers giving similar information with Facebook as well as giving customer feedback. (Seoexpertsindia.com, 2018)
Most companies in Italy use internet as a strategic tool to reach and retain their target market, 60% of the companies use social media platforms. Blogging sites are also used by companies in the country. (Cerchia, 2015). ‘The distribution of social media used in Italy in 2017 was 34.7% with 19.3 million Facebook account registered.’ (Cint, 2017). This means that Facebook has the largest share of social media marketing.
Small business and medium size business are the most companies using internet and social media platform as their major advertising platform as it is cheap compared with other form of advertising, (Neff, 2013). It also help the companies concentrate on other activities for their growth. Even though the time spent in advertisement on social media, the results of return are measurable, (Constant, 2013). Bottega Veneta for example is one of the luxurious Italian brand of fashion that was started in 1966, it specializes in leather products and accessories as well as clothing collection for men and women. Towards the end of the 20th century it was faced with a challenge of falling sales as it was trying out new products in the market. Due to this, the brand concentrated more on internet and social media marketing at the beginning of the 21st century. This enabled the organization to get closer to the customer and understand the specific customer needs. It currently has a Facebook community of 741225 likes and 733,421 followers. (Facebook, 2018)
According to E-commerce Foundation, (2016), Japan has 76.9 million users shopping online over the last decade. Statistics shows companies use Facebook, Twitter and Instagram widely in connecting with Customers in the country. Facebook accounts for 28.6 million users, followed by Twitter with 24.6 million users. For example Phoenix Company and DENA Company use Facebook to keep in touch with their target market, whereas Panasonic Japan and BTS Japan leverage twitter in connecting with their target audience (Wong, 2017). Instagram user demographics Japan in 2017, describes females as the higher users of instagram with 59% and male users holding the remaining 41% consumption rate (Instagram User Demographics Japan, 2017). “Social media is admitting an ever increasing role, however it is still a tool that companies are averse to employ.” (Kietzmann et al. 2011; Taprial &Kanwar, 2012).
Internet networking is a useful tool for increasing growth in sales and the rate of investment as well as improving brand knowledge. (Kumar et al. 2013). Customers’ involvement in companies’ social media platforms increases the viewing rate as long as they post creative content that can catch the attention of users. Companies use social media to remain competitive over other companies example being H&M Japan, they use Twitter through a ‘tweet’ with an offer to receive a present or exclusive product if users take a ‘selfie’ with their products and post it on their page (H&M Japan).
Though it is hard to maintain customers and achieve their level of satisfaction, companies adopt in brand modification and active in addressing customers complain. The use of humble language (Kaplan & Haenlein, 2010) when posting and when responding to customers question and letting them know the available orders as well as any product change. VCC Japan explained that posting items or products which are in line with the market demand Japanese customers tend to show interest and also engagement to the company.
Internet and social media has assumed acceptance as the easiest, economical and widely used medium of communication among people either of the same or different geographical location. The emergence of various social sites such as Facebook, Twitter and Instagram interaction between consumer to business and consumer to consumer became easier than before. The impact of such to marketing discipline is; marketers and marketing scholars focus on internet marketing; how to build brands engagement and loyalty in the global market; provide effective customers support; establishing online community; maintain regular interaction with target market; sharing of content and accessibility and credibility (Taprial & Kanwar, 2012). Over the last decade, these interactive platforms have evolved from not only linking people but connecting businesses, products with people (Anna, 2014).
Government should not limit or defeats internet and social media marketing as small enterprises usually wholesale and retail business revert to use of internet as cheapest means of connecting with target market locally and chance of reaching global market. This restriction will lead to limited chance of connecting with target market and entails more cost and time spending, and even means losing new market opportunities to the competitors who equipped themselves with internet and social media usage in the conduct of their marketing activities and program.
Internet and social media marketing improves attraction and increase of balance; import and export trade is facilitated. Most companies using social media marketing get increased market share globally thus increasing income. Also employment opportunities as increase in demand of company’s products requires the company to increase its capacity to meet the required demand either by producing the product or supplying.
Analyzing the effect of the product in the community companies post in the social media and the marketing team comes out with the results according to how customers react towards the product. This help in modification of the product or even to know market demand keeping the company competitive and have a continuous growth. It also help in predicting the future of the company’s performance, with the number of people viewing the website.
Conclusion
Globalization and leverage of internet and social media make it possible for brands emergence in new context and communities (Tuten, 2008). Business organizations have possibility of getting new market opportunities, increase market share, position and reposition existing and new products and services and connecting local and global market within shortest time with lowest possible costs (Anand, 2015). Acceptability of the internet and social media marketing by people and companies require government support, and not limit or defeat it so as to increase sustained economic growth. Marketing discipline also witnessed a great which makes the focus of marketing science on internet resources as a strategic marketing tool for competitive advantage.
Government should not limit internet and social media marketing result to limited chance of connecting with target market and entails more cost and time spending, and even means losing new market opportunities to the competitors who equip themselves with internet and social media usage in the conduct. As much as social media marketing tool has been on a rise for the past couple of years, there is still issues regarding its effectiveness. Due to this therefore, the following recommendations should be adopted to ensure that it achieves its desired objectives: All policies associated with social media and internet needs to be reviewed so that they are in line with the overall policy and engagement strategies.
Social media users should be given adequate training so as to ensure consistency, it should be given to various groups according to their requirement and their various level of understanding. For example, they should be trained to ensure that they represent themselves responsively. They should also be provided with adequate resources so as to monitor, measure and understand intent
activities.
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