Introduction of The Effect Of Social Media (Facebook) On Marketing Assignment
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Facebook tools such as 360-degree video and chatbot are used for marketing purposes by organizations that are directly linked with business growth and sales these days. The main aim of the study is to focus on the impact of Facebook on marketing purposes by organizations that are not only regionally established, yet international background as well. The main purpose of the short literature review is to understand the necessity and importance of Facebook in the marketing field. The changing scenario of marketing which is considered to be one of the crucial sections of the business is declared in order to realize facebook's high influential capability.
Keywords: Facebook, Marketing, Effects, customers, businesses
2. Main Body
2.1 Concept of Social Media and Marketing
2.1.1 Social Media (Facebook)
In the previous time, Facebook was introduced as an internet medium to connect people in various parts of the globe. Yet, in recent times it has changed its definition by assisting the business in marketing purposes. In 2016, the revenue that is collected by all social media, including Facebook, was nearly $26.8 billion (Impactplus.com, 2022). The latest feature of Facebook responsible for targeting the customers popularly known as "hyper-targeted Custom Audiences" provides the permission to make advertisements in such a manner that advertisers can make customized advertisements appropriately. As a result, Facebook, as well as other social media, was able to improve its usage to more than 98% all over the globe (Impactplus.com, 2022).
Marketing is referred to as a functionality of an organization that is performed by them for promoting the sales and purchasing the services and products of companies. As mentioned by Morgan et al. (2019), the activities that are performed in marketing are delivering, selling and advertising products and services to either other businesses or customers. The attention of crucial potential audiences is mainly obtained by the professionals seen to be working in departments such as promotion and marketing through advertising. On the other hand, Shareef et al.(2019) has suggested that under certain scenarios, it becomes difficult for a respective company to perform marketing activities due to a lack of knowledge and are after that performed by affiliates. Promotions of services or products are done by firms based on target customers, who may include endorsement made by celebrities, special packaging, media exposure, catchy slogans, and graphics design to attract the customers.
2.2 Positive Effects of using Facebook on Marketing
The positive effects are as follows:
Facebook, in comparison to all other social media such as Instagram, have the highest capability to provide the maximum customer base to organizations. Facebook itself consists of nearly 2.7 billion customers all over the world. As stated by Heiss et al. (2019), in contrast to this, although the audience in Facebook is not that large yet, its width crosses multiple demographics.
Marketers of Facebook
- Alignment to B2B and B2C business
B2B businesses, along with B2C businesses, have the same capability to successfully run the marketing campaign on social media, namely Facebook. The decision-makers of the business are known to be spending their time which is more than 73% on Facebook in comparison with people (Buchanan et al. 2018). The factors on which the success opportunities depend are messaging, right targeting and ad formatting. According to Adetunji et al. (2018), on the hand, in comparison to B2B and B2C businesses, B2B are more competitive in nature which makes them more aggressive while leveraging Facebook.
Stages of Facebook
(Sources: Buchanan et al. 2018)
- Various engagement form along with Full-Funnel Targeting
One of the most advantageous characteristics of Facebook is successfully catering to individuals at any phase of the involvement journey. According to the view of Buchanan et al. (2018), the marketing strategy adopted by organizations is well aligned to some crucial features of Facebook, such as targeting options, measurement capabilities, and advertisement formats of Facebook. For example, in the case of the awareness stage, carousel ads, sponsored stories, and video ads on Facebook are considerable ways to stimulate the interest of an individual without connecting directly with audiences. On the contrary, unless the users are not interested in the organizations, services, or products, they are found to be getting irritated by continuous messages from organizations' behalf and will not engage themselves.
2.3 Negative Effects of using Facebook on Marketing
The negative effects are:
Primarily, it was possible for the business to address and engage with customers regarding their bad experiences and unsatisfaction. According to Martínez-López et al.(2020), however, Facebook has changed the positive atmosphere to negative by giving rise to challenges where a customer of a firm have complete authentication of expressing negativity in Facebook in comment sections which are visible to all other public. Therefore, it becomes difficult for enterprises for attaining a good and huge customer base through Facebook. On the flip side, customers are seen to be quick in posting on Facebook regarding their dissatisfaction and negative experience rather than posting about the satisfaction towards the organization's product.
- Unauthorized individuals speaking on the organization's behalf
A structured team responsible for the communication activities are normally developed by organizations themselves to discuss important factors or organizations such as issues faced by them. However, as mentioned by Cheung et al. (2019), the scenario is completely different in the case of the selection of personalities speaking on the organization's behalf. The employees upon whom the responsibility of interaction in interactive platforms is not chosen appropriately, and challenges are faced by them. As per the view of Wiese et al. (2020), contrastingly, fake accounts on Facebook are created by organizations' employees for seeking to disseminate information of firms, which becomes a risk in identifying the personality.
- Reduction in productivity of employees
Facebook is an interactive media do not; individuals are found to be virtually connecting with each other by communication through messages or comments. According to the view of Heggde and Shainesh (2018), networking sites are time-consuming. Employees who are noticed to be mainly engaged with such activities have low productivity levels as time is wasted on networking rather than focusing on other activities. The roles are not properly performed by employees, which is the reason bed shifting their attention resulting in a reduction of engagements and productivity.
2.4 Importance of Social Media on Marketing
Facebook is not new, and nor is its importance on the needs of business for marketing purposes. As stated by Mason et al. (2021), due to the great influence of Facebook on marketing, there has been a huge change in marketing scenes. In the recent digital era, it has been possible for only Facebook to perform certain activities that are beyond the thinking of marketers in the last few decades, such as selling products using a chatbot and 360-degree video. Inbound is one of the most successful ways used by social media such as Facebook for approaching marketing. The inbound strategy detects the fact that it is easy to relate and help audiences of respective firms through marketing. In contrast to Heggde and Shainesh (2018), stated the fact that the customer's goals can be easily understood along with associating with them for overcoming issues. As a result, it can be easily done by being available, or organizations represent on Facebook thoroughly day and night to solve their queries appropriately. In contrast to this, the tools of Facebook caters to firms who are willing to develop authentic coordination with audiences that are healthy, strong and are of long-term. Although the use of Facebook is open for all, there the business personalities took the opportunity of it and used it to gain potential buyers and perform marketing tasks accurately.
2.5 Factors of Social Media on Marketing
The factors of social media are reasonable expenditure, consistency, frequency, strategy, frequency and value. In the last ten years, after the increase in Facebook usage, markets all over the globe organizations, marketers have made use of it for the purpose of marketing (Ansari et al. 2019). Although it is widely used, it is not considered to be a profitable approach as it is used as a common strategy by all enterprises as a shortcut marketing strategy. Facebook is counted to be a miracle machine that has the efficiency of making money within a short period of time, yet the concept is completely wrong and unethical.
Based on the above discussion, it can be concluded that the presence of Facebook as a marketing tool by firms is necessary and obvious for the acceptance of digitalization. The main highlighting part of the study is the positive and negative impact on marketing by using Facebook. The advantages that are gained by organizations, along with the disadvantages, are mentioned in detail in the respective study. The positive impact includes alignment with B2C and B2B business, reaching wider target audiences, and increasing engagement of customers. The negative impacts define unauthorized individuals' speaking, an increase of customer power, and productivity reductions. In addition to this, the significance of Facebook and its factors of it are finally declared in the study with proper justification.
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