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Social Networks for businesses and it's Importance

Social Networks for businesses and it's Importance

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Published by Bradly Storsteen
Companies after ever increasing the speed of utilization of internet and social networks by individuals decided to use social networks.
Companies after ever increasing the speed of utilization of internet and social networks by individuals decided to use social networks.

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Categories:Topics, Art & Design
Published by: Bradly Storsteen on Jan 23, 2012
Copyright:Attribution Non-commercial


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 ==== ====Social Networking’s Future. RamCage the Next Internet Real Estate Boom!http://ramcagesignup.com/articles/wp-admin/  ==== ====Introduction:Companies after ever increasing the speed of utilization of internet and social networks byindividuals decided to use social networks to become more and more popular in terms of theirbanding strategies, positioning, marketing activities, customers services and feedbacks,implementation of e-CRM and alike. People use social networks in order to communicate, sharetheir ideas, and use the flow of information and other means of publishing information aboutthemselves. Although since 1990s, utilization of internet, many social networks and internet tools had emerged,it was not popular. Recently, through the development of social network in friendly atmosphereand with less complexity in terms of functioning for individuals, this service (social network service)has become part of people's lives. In terms of clarification of analysis on customer satisfaction, customer retention, and customerrelationship management and customer feedbacks, social networks play a pivotal role. As a resultcompanies have tried to utilize Social network services in order to better serve customers andobtain other various objectives. Most companies recognized that social network sites (SNSs) likeNapster, Facebook, and Twitter and so on are the best places to them in order to highlight theirbrand image through which they can increase their market share, and sustainability. What is a Social Network?It is considered as a platform through which social relations will be built among people andinformation sharing will be facilitated. Through social networks sites personal information andrelationships can be shared and users can stay in touch. Most of SNSs provide a personal page for posting, ability to search for friends and other issueslike updating profile and personal data and have the ability to restrict and/or conceal thementioned information by page owner from the eyes of public or specific people. These Online facilities (SNSs) have improved the movements of individuals on online tasks,especially in the mentioned social networks for the purpose of maintaining friendships regardlessof distance (geographical limitation). Not only that but also it enables people to find better jobs andpartners. Regarding the acceptance of these sites by people, companies have become interested to getinvolved in this process through which they can sell their products and services and better servecustomer 's needs and wants and through analysis of consumer buying patterns and theirfeedbacks they can fine tune their decision making process as well as their strategies. 
Below information reveals the fact that how rapidly number of social networks increase since1997. 1997: SixDegrees.com 1998: --- 1999: Asian Avenue, Live Journal, Black Planet 2000: LunarStorm (SNS relaunch), Migente 2001: Cyworld, Ryze 2002: Fotolog, Friendster, SkyBlog 2003: CouchSurfing, LinkedIn, MySpace, HI5, Tribe.net, 2004: Orkut, Dogster, Flicker, Facebook (Harward only), Mixi, Piczo, Hyves, Catster 2005: YouTube, Zanga, Yahoo.360, Facebook (Highschool networks), Bebo, Ning, Asian Avenue& BlackPlanet (relaunched) 2006 till now: QQ, Windows Live Space, Facebook (Corporate Networks), Twitter, MyChurch, andthen Facebook (Everyone) Many companies during previous decade as a result of increasing the use of these networks havedecided to penetrate into SNSs in order to find the relevant information of people, elicit informationand analyze them in order to make appropriate decision based on market moves; not only in termsof customers but also in terms of competitors and rules and regulations. They aim at finding usefulinformation in order to do external (Scanning, monitoring, forecasting, assessing), and industryanalysis (5 forces of porter) as well as competitor analysis. Usefulness of Social Networks: Considering SNSs as a marketing tool, they help companies to interact with customers and createonline communities and pages, Updating latest activity of companies, advertisements and providing customers with applicationsnecessary or useful in order to increase the traffic of their page, blog or community, Facilitate the process of being aware of the company, and promote ideas, products and services, Skipping search engine optimizations rankings, It helps to get feedback from customers and to better implement the concept o electronic customerrelationship management (e-CRM) and to classify valuable customers in order to serve them withvalue creating activities, 
Focus on market, global reach, limitless number of customers who can be served, to bettersegment the market and customers, Enables different model of advertising such word of mouth, suggestions for specific group or nicheand so on. Fastest way to get information and finding opportunities, Social Networking Sites and E-commerce Businesses:Although other methods of communication exist, they are to some extent different comparing toSNSs. Social network is a place in which individuals become fan of a page, they see each otherand based on their mutual interest they become capable of interacting with each other and make acommunity on their own. The mentioned issue is the result of shifting the power through utilization of SNSs from companyto consumers. More social networks get popular, the tougher is the implementation of businessbased on traditional procedures therefore; companies must consider market moves in this case.Besides, by digging up the information available on these networks identification of valuablecustomers would be easier and a business can serve its valuable customers much better in thisregard. Regarding the accessibility of individuals to internet, companies moved from Brick and Mortar toClick and Mortar or to virtual one which resulted in operational efficiency improvement as well asgenerating revenue. As companies are moving toward the above mentioned issue (adaptation of EC), they utilizeseveral strategies to achieve success. They used various strategies in business and corporatelevel to reduce costs of transaction, reducing delivery time, to better serve the customers and tobetter manage them, and to better inform them about the current activities performing by thebusiness especially for service companies. Accordingly, due to massive passion of individuals incase of using social networks like Facebook, twitter and so on, companies decided to reduce thegap between themselves and consumers by following consumers passion therefore, they startedto make use of social networks and possibly other web 2.0 applications on extend theirbusinesses. In this era, almost all companies have websites and among them, some have social network tobetter communicate with customers which is linked to a website by the use of social plugins.Consequently, it is highly suggested to businesses that if they are not being first mover in Socialnetworks, at least do never miss the chance of being late mover. Impact of Social Networks on Marketing:As it is mentioned above, individuals will be attracted to join famous social networks in order tocreate a profile and connect with existing members or pages or businesses. Once a profilecreated, users can interact with each other; send invitation for others to join. By the time a linkshaped, communication to a friend, group members become easy because users tend to organizethemselves by affinity, life stage, and psychographics which would be an excellent chance fortargeted marketing.

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