Impact Of Social Media On Revenue Generation And Advertising Service Markets
Objectives of the Research
Kwayu, Lal and Abubakre, M. (2018) stated that media is one of the major sources of information for people and society. The role of mass media has a great impact on society. The media has an impact as a challenge for people respect and autonomy, whether a pro-effect view that presumes people as guideline mass and cultural dopes. Socialized media occupies a high amount of off time as they nearly spend 25 hours per week on media. The advancement of technology has brought several advantages to the customers at the cost of traditional media by shifting away the revenues of advertising. In addition, development of size as well as impact on the social media platforms and digital content is expressing the concerns regarding quality content.
The advancement of technology and its adoption across the world has brought a tremendous change in media as well as advertising platforms over several years. The advancement and dramatic change has brought multiple advantages to the customers at the traditional media cost by shifting away revenues of advertising. In addition, technological advancement has brought a massive change in traditional marketing methods where the media channels like newspaper, radio as well as televisions are becoming obsolete continuously (Casero-Ripollés et al., 2016). The taste of customers and preferences are now found on the online platforms like social media as well as applications that are consequently resulted in minimizing the advertisement spending on media along with advertising service markets.
Barnes (2014) mentioned that social media is generally considered as a paradigm change in worldview that is compared to the new tactics. Conventional media creates the brand a paradigm shift compared to the new tactics. On the other hand, conventional media need to make change where the brand can create new message and transmit to masses with the help of broadcaster. It is important to focus on the media where one-way communication system is involved in promoting. On the contrary, social media provides all benefits as it inherent two-way communication system. Hence, it is required to develop specific criteria in the research. Social media has an important role in this.
On the other hand, the shift leads to the advertisers utilizing the services are minimal or no cost that is against of several advertising policies presently in the process. It helps in managing the source by using the services as well as the other service markets and shift led to the advertiser using the services are considered minimal or no cost that is against several policies presently occurring (Udani et al., 2018). Hence, the research paper will involve in the process of evaluating the impact of social media as well as platform of digital content on media as well as advertising service markets. Hence, it becomes important to analyze the importance of socialized media’s impact and dilution of the mainstream.
Introduction, literature review and methodology are discussed regarding the research are explained in the study. The first chapter includes research aims, objectives, research questions and research rationale are presented, whereas the literature chapter deals with Overview and use of socialized media, advantages and disadvantages of using socialized media as well as the Impact and dilution of socialized media on mainstream. Research methodology chapter deals with the selection of methodological tools so that the research will be conducted in right way.
Research Questions
The development of social media marketing becomes significant in search-engine optimization campaign. This chapter deals with the data obtained from secondary sources. It covers overview and use of socialized media, benefits and limitations of using socialized media as well as the Impact and dilution of socialized media on mainstream.
Social media could supply valuable market intelligence in order to fill the resource gap as well as minimize through leveraging real-time knowledge about marketing. In addition, learning and marketing capabilities can be obtained through social media. On the other hand, due to impact of social media, relationship between brands as well as customers has brought several changes (Graves et al., 2017). The organizations create effective strategies after analysis and understanding demands of the target customers. On the other hand, traditional marketing mediums like radio, TV commercials as well as print are costly mediums. The possibility of media has an impact that is seen as a challenge for individuals respect as well as autonomy. On the other hand, the influence of the media on psychological development of children has been profound. Televisions have potential for generating positive as well as negative impact along with several studies looked on the impact of socialized media.
However, organizations or brands are able to connect with target customers with social media marketing. It is important to manage social media growth that assists in developing tactics in business. The platforms of social media provide a great opportunity for the businesses in order to grab attention of customers developing a brand image simultaneous (Gibbs, Workman & Downey, 2016). In addition, the social networks allow the businesses using tactics in order to develop and create brand image. The social media marketing can figure the preference of consumers and latest trends adopted by public. Social media marketing assists an organization to develop a strong outline presence through innovative social media marketing techniques as well as satisfaction of consumers.
There are several benefits of social media in marketing.
Enhanced customer insights: Butcher, Tang and Phau (2017) stated that the businesses receive a better comprehension of the customers by allowing to share the insights and understanding the brand. Social media allows the customers to get their opinions as well as network with them.
Better customer service: Social media can allow the businesses responding to grievances of customers, questions as well as concerns instantly.
Cost efficient: When a business of an organization is running on the budget of fixed marketing and promotes the business. Facebook, Twitter and LinkedIn can allow the process of business sharing contents. Hence, social media is considered as one of the most affordable advertising platforms.
Connectivity: Every business likes to connect customers in terms of changing preferences, resources as well as lifestyle and like to adopt the changing interest of consumers.
Developing brand awareness: With the help of social media, it is possible to increase brand awareness among customers as the business can develop awareness by development of the organization.
Although there are several advantages of using social media marketing, there are also a few drawbacks of social media marketing.
Overview and Use of Social Media
Time consuming: It has been reported in industry that there are nearly 64% of total digital marketers have to spend nearly 6 hours on the marketing of social media. However, there are approximately 37% people nearly 11 hours on the marketing of social media (Cole, 2016). It is also considered as time-consuming for owners of business and gets result from effort. It is also time consuming for business owners and get results from the effort given. It might be useless outcome, which will not convert into sales.
Develop negative users: One of the major issues with social media is attracting the types of people in negative as well as malicious users. The negative components consist of spammers, trolls as well as different sorts of malicious users to harm online reputation.
Social media marketing ROI is difficult: A present study highlighted that nearly 89% digital markets want proper understanding about social media efforts. There are nearly 37% people can measure the findings of social media marketing.
Kunkel, Funk and Lock (2017) commented that the marketing of social media can develop proper integration of search engine optimization as well as effective development of website traffic. On the other hand, multiple social media marketing trends have an impact on search engine optimization program in order to boost lead generation progress as well as rates of website conversions. There is an important explosion in the customer number-using social as the medium of finding products as well as services. It has been reported that social networking is utilized through nearly 76% businesses for achieving marketing objectives. On the other hand, the retailers gain 133% increase in the revenues. It can promote marketing value of social media for the business. In addition, there are 40% online buyers from the USA utilizes Smartphone for in-store shopping. On the other hand, there are approximately 71% customers respond as per the feedback as well as recommendations of the social users related to a specific brand (Takahashi, 2015). The reviews of customers are regarded through shoppers as there are trustworthy compared to marketing promotion that comes directly from the site of brand. In addition, most of the successful brands own a social media page for widening marketing coverage regarding development of brand that can be accessible to social media users. On the contrary, social signals help in boosting performance of search engine optimization. It helps the organization or business to promote branding as well as awareness.
Facebook is one of the most popular social networking platforms, whereas Twitter allows registered members writing message through tweets. LinkedIn helps in connecting as well as making a network of people having known and trust on each other professionally. It is signficant to analyze real case study. In this perspective, a real case study can be discussed. Shari Academy is one of the photography schools. It conducts workshops as well as provides certificate courses (Takahashi,2015). The organization wanted promoting presence among people. However, there are budget issues. In this aspect, they tried to publish their presence through traditional marketing channels. However, due to budget issues, it was not successful. The management has decided using Facebook as well as blogs in order to encounter the objectives of branding as well as business. A Facebook page named as ‘Photography Tips’, has been created and worked on it. Currently, they have more 1.3 million fans followers and become one of the biggest photography communities on Facebook.
Advantages and Disadvantages of Using Social Media
The above discussed literature summarizes that integration of social media can be helpful for a business or an organization to attain the marketing goals. At current days, the digital marketers are generally lured for advertising with the help of social media as specific trend in order to make buying behavior of the consumers that are changing day by day. On the other hand, survey of social media reveals a huge percentage like spending 37 minutes at least per day on social media. Thus, it becomes a significant comprehending the impact of social media marketing on traditional mediums or mainstream.
This part of the research covers selection of methodological tools in order to conduct the research in effective method. Selection of research approach, philosophy and research design is discussed in the present section. In addition, data collection as well as analysis process is explained in this chapter of the study.
In the research, positivism philosophy will be selected. As the philosophy will be helpful identifying the hidden facts are involved with the impact and dilution of socialized media on mainstream (Mackey & Gass, 2015). However, interpretivism, and realism philosophy will be rejected for limitation of time.
Inductive as well as deductive approach is the main type of approaches selected in academic researches (Taylor, Bogdan & DeVault, 2015). Deductive approach will be chosen in the research, as selection of the approach will be helpful understanding the concepts clearly and precisely. However, the research will not deal with inducing a theory or model through analysis of information, inductive approach will be discarded in the current research.
Descriptive research design will be chosen in the research, as it will be helpful to the process involved in assessing the process engaged in assessing the impact of socialized media on mainstream (Lewis, 2015). On the other hand, the research will not support the concept of exploratory and longitudinal research design will be avoided in the research.
Flick (2015) stated that primary data collection and secondary data collection are considered as the main types of data collection process used in research. Secondary data collection will be gathered and presented in the research as the form of literature review. The secondary sources will comprise of books accessible from EBSCO Host, SAGE Pub, Google Scholar along with other online sources and journals, online article.
Qualitative analysis method will be used to analyze the data obtained fir the research. The analysis method will be helpful in order to analyze the statistical data obtained in the survey. Simple random probability sampling technique will be applied in the research. Qualitative analysis method will be followed for analyzing the data from graphs, tables and charts. The data gathered for the research will be analyzed based on several perception of the impact of social media on conventional advertising service markets that can identify the drastic shift for gaining advanced technology.
During collection of the data, it is critical ensuring the process of data collection complies properly with effective ethical practice. In the current research, primary criteria are ensuring the participants joining to the survey without enforcement. Thus, a signed participation form will be used to ensure ethical practice. After finishing the data collection process, it will be ensured not to disclose the data and participants will be agreed on it.
The research will be completed in 14 weeks time span. In the first and second week, topic of the research will be selected. Data collection from secondary sources will be achieved third ad fourth week. On the other hand, in third and fourth week, development of layout and literature review will be done. Development of research plan and selection of a proper research technique will be done in between 7th to 10th week. Secondary data will be collected from 9th week to 12th week. At the same time, data analysis will be done in between 11th and 12th week. Formation of rough draft and submission of final work will be delivered in 14th week.
Appropriate development of research methodology helps in collecting the data in right way. Reference to the concepts that are existing will provide proper solution addressing particular gaps in the research. In addition, selection of research philosophy, approach and design will assist in conducting the research in appropriate way and assists in analyzing the data gathered for the research.
References
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