Leveraging Social Media Tools for Business Purposes

Social Media Tools for Businesses

As web 1.0 paved way for web 2.0 or the read write web, individuals could create content online and connect with organisations as well as with each other. This has changed the way business is done. Social Networking Platforms, Blogs, Online Communities and Mobile Apps are the most significant social media tools used by businesses today. Their usage varies from one industry vertical to the other.

Figure 1.

Social Media Tools For Businesses

(IGI, 2021)

Social Networking Platforms

Social Networking Platforms are virtual domains where individuals can create personal profiles, build personal networks, connect with others, develop a social persona and create mutual value between associated entities. The actual evolution of this phenomenon stems from the offline interactivity of individuals, which when transferred online allows them to indulge in a convenient method for communication and exchange of information among their peers or people with whom they have some affinity or shared interests. This has helped transform these cliques into communities of significance. Contemporary times have witnessed the growth of several social networking platforms, like Facebook, Twitter, Instagram, Pinterest etc. The following section discusses how Facebook has developed as a social media platform with significant contributions to the field of Marketing. Facebook is not only limited to marketing, but it’s usage can be extended to analysis and research as it gives insights into products and services and is able to generate immediate responses from customers (Gangadharbatla, 2008).

Twitter, Instagram and Pinterest are other examples of social networking platforms which help brands promote themselves. In an era where online reputations are hugely impacting brands, companies need to have well defined strategies in place for managing their virtual presence and diffusing information pertaining to innovative developments, promotional schemes and brand achievements. While companies need to have mechanisms to amplify positive consumer sentiment across their online social networks, they should also have appropriate methods for consumer redressal. Similarly, companies should be equipped to share meaningful information that will have some organisational, promotional or relational value for the consumers, and that will create a climate of participation. The success of the organisational endeavours on these platforms lies in achieving brand likeability, through the satisfaction of the self-gratification needs of consumers (Houk, Thornhill,2013). The idea of improving the effectiveness of marketing by allowing customers to participate in the marketing process has been recognized for at least 20 years. For consumers in the present times, gaining the functional benefit of using a product is simply insufficient and innovative involvement with brands adds value to the equation. Marketers must now understand how the latest digital tools can provide their customers with added value through their feeling of being involved in an experience shared by their peers in cyberspace (Hansson, Wrangmo, & Solberg Soilen, 2013). Brands need to engage customers by hosting social media content that is interesting to consumers and will help them engage in conversations with them. Brands need to identify what types of content appeal to what types of people. The objective is to build consumer engagement and ensure that people like content, share content and comment on the posts hosted by the organisation. This leads the consumers up the engagement continuum to a stage of involvement and loyalty towards a brand or organisation.