The term WWW is not just restricted to 3 alphabets. It is a
term that is large enough to shrink the actual and digital world together. I’ll
even say it’s the horizon in between the
digital sky and actual world. It’s the matter of time that firms that work in
the early 19th century didn’t even needed any online market,
however, in today’s era it seems impossible for a firm to survive without a
digital existence.
How ironic that now a firm without a place on the internet
could not survive irrespective of working with an actual market place, thus, it
can survive with an internet market but no actual place.
I must say that things do have quite change!
The reason we find things difficult is when they indulge in
change, we fear change but if we embrace that the change is for our own
betterment and it will help us out in the long run than it could definitely
work matters out.
A recent survey claims that companies now generate $2.4 million
in every 60 seconds with the help of e-commerce. Moreover, the astonishing fact
is that a very large sum of this amount is dedicated by social media. Thanks
Facebook, Pinterest and Twitter for working so hard on making business so easy
by generating $40,000 in every 60 seconds.
I must say by the time our moms are done frying an egg a firm earns a
huge sum of money. Every time someone says you are wasting time over the
internet, so just tell them that you contributed a firm a bucket full of
dollars in a minute.
The main question that stands here is that How Social Media Influences Consumer
Shopping?
Why would a firm even prefer social media than a newspaper or
TV ad or a magazine? It’s the communication. When a firm publishes an advertisement
through any media despite social media they have to wait for a response for
months and that is even indirect – response through sales – whereas, social
media allows ‘two-way communication’ helping the firm to not only get quick
response but also the reason of failure and success spontaneously. The advertisement
has even got easier with respect to geographic and demographic locations. I
would say firms create niche market
but now they have even created a niche advertisement,
separate advertisement for individuals. Every advertisement has the same
message but broadcasted in a different manner according to the area or region.
Social media does not require much cost so it’s quite easy to spread the word
without many charges. Anything that is verbal isn’t quite as impactful as in
written form, your interest that are listed on your social media accounts helps
spread an indirect awareness to your list of friends.
You might have even been a target of indirect Brand War in your
life on social media, now the firms do not pay for it to you but you do pay
your loyalty to that brand. If you like Coca Cola and your best friend like
Pepsi, both of you can be sharing the posts of your favorite brand irrespective
of the fact that the brands are not just being an influence on you but they
will be on your others friends’ newsfeed targeting them from the
irresponsive market in to enlarging the market segment.
I would like to end the subject that nothing is free in this
world. Everything works with a solo concept of cost and benefit analysis that means the cost incurred is worth the
benefit or not. Assuming that social media does not really require cost in
monetary terms is just a bizarre thought but it does require you to pay the
most valuable measuring tool that is time.
You need to spend a lot of time working online and better be in the loop of
what is happening with the existing activities of the brand and the upcoming
activities that are being planned.
