Business Communication MGT502 Assessment 1A PDF

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A SS ES S M E N T 1 A: A N N O TA T E D BI B LI O G R A P H Y T OP IC:

M G T 5 0 2 : B U S I N

POOJA PANCHAL 3/19/20 MGT502: BUSINESS COMMUNICATION

Awad and Fateh (2015) stated that Facebook supports the development of the brand while starting up an organization as it is the revolutionary tool for organizations to reach to their customers for promoting their brands. Consumers do not need to waste time and energy in searching information about brands on social media search engine. Social media is economical, easier and collaborative media of communication and it always attracts consumers to buy new brands. Companies are not alone to make their brands famous without the help of social media. Research found that consumers’ feedbacks on social media influence market in valuating and purchasing brands and repurchasing is particularly depends on customers’ comments and recommendation for products. Positive response increases the brands sales, loyalty and advocacy through repurchasing of brands. Customers’ actual experience is essential for brands advocacy and growth of brands. Facebook offers opportunities for organization to start-up the company, promote brands and market their brands.

Karjaluoto, Mustonen and Ulkuniemi (2015) studied literature in Digital Marketing Communication for six industries to analyze the ability of making money through marketing. Digital marking communication is changing the platform of communication between customers and company. It provides an opportunity to organizations to improve their sales and marketing strategies to earn revenue. It changes the customer-organization relationship and communication, supports sales and profits and awares consumers about brand’s value. Communication via social media is used rapidly within companies to improve relationship with new and existing customers. It is challenging for organizations to make money by using digital communication but can be succeed by using correct marketing strategies and right communication tool. Digital communication support industries financially with the help of online marketing tactics and communication tools. This research puts more emphasis on the role of social media communications to generate revenue for companies by enhancing sales support and customer service.

Social media channels play crucial role in companies’ money-making policies and 1.37 million people use it every day, and the most famous social media channels is Facebook. In

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POOJA PANCHAL 3/19/20 MGT502: BUSINESS COMMUNICATION

the world around 93% people use Facebook as an advertisement tool to promote their brands and around 2.5 million people per month use it as communication. Building an audience is the first step to get into the online market, if companies have a large number of strong supporters then company’s products get easy to be sold. For money-making point of view, companies should use informative and excellent Facebook posts, interesting links and images of the products to attract consumers and content should be qualitative not complicated as well as and posts must be maintained on regular basis. Companies can use influencer marketing to build trust of users. They create variety of content, excellence blogs posts, videos and funny products advertisements to attract customers to buy products from companies’ Facebook (Influencer Marketing, 2018).

Carter (2014) claimed in his book that social medias are affordable and powerful advertising platforms, but Facebook is one of the most important social media channels to market online, and it is easily reachable and great communication tool. Facebook is an effective way of communication to build deeper relationships between company and customers that helps companies to grow faster financially and economically. Face to face customer service is inefficient and hard to integrate but Facebook made it easier to start conversation with customers. Social media helps customers in choosing their products and services and helps in improving the brand image and stronger connection that plays a crucial role for an organization in making money. Consumers check company’s review rating on social media before buying products. They can ask product related questions on Facebook. Consumers interaction is important to create profit strategies and increase revenue of the organizations.

Turner and Shah (2015) presented their reviews on the influence of social media on marketing. Authors said that some people do not understand the meaning of social media campaign to make money, they think updating Facebook accounts regularly is enough for making money for a business, but it is not enough. For making money via social media, organizations need a well-run social media campaign which is well accomplished and well designed to generate money. Businesses need to learn how social media can be used as an effective sales tool for marketing to introduce their products to create revenue. Marketing campaigns should be informative and interesting that attract consumers towards company’s

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products. Businesses should promote commercials about special promotions, discounts and product offerings on their Facebook pages that means more people can see the advertisements of company’s promotions and discounts that lure customers to buy products.

Business Queensland 2016 (Qld) states that marketing costs lots of money for companies but Facebook made it easy to market their products at low cost that is perfect for small and medium businesses which has limited marketing budget. Small companies can save so much money on marketing by selling and buying products on Facebook. Facebook is an easy method to share information about business name, address, contact details and products details which helps in supporting sales. It is a powerful mean of online communication with existing ang potential customers and will build long-term relationship. Companies can promote their products by tagging images and ads on Facebook. Due to company’s policies and customers privacy policies, it cannot tag customers in their products’ images and services promotional posts but if it tags friends and employees, then participants can approve it to be visible on their Facebook timeline and posts get promoted by participants. Organizations can market on Facebook about offers, discounts and loyalty programs.

Smith (2019) found that businesses need a simple, popular and favorite social media channel for business growth. Marketing promotions are booming on Facebook. Small businesses can survive with Facebook marketing because more people use Facebook these days and advertisements cost is also low. It can track real-time performance of business of ad campaign and can also see the response of Facebook users about products and services. If an ad is not giving positive feedback, companies can change it easily anytime anywhere. Chief marketing officers claimed that brand awareness and loyalty programs have a strong impact on sale of the product which can perfectly be done with the help of Facebook. Customers are more approachable at Facebook and reaching to Facebook search engine is 10 times more effective than web pages. Hence, Facebook is a powerful tool to target audience, increase conversations between company and customers and helps in generating high return on investment.

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POOJA PANCHAL 3/19/20 MGT502: BUSINESS COMMUNICATION

Ramsaran- Fowdar, R. R. and Fowdar, S. (2013) mentioned that customers have restrictions to get information about the products from the traditional sources, but social media changed the way for organizations to do marketing. These days, organizations do online business as Facebook has become the mode of communication between consumers and organizations. Marketing specialists can find out what Facebook users likes, dislikes, what are their hobbies and what types of brands and products they like to form market segmentation and targeting tactics. The main focus of Facebook is socialization to gain an insight into Facebook users’ lifestyles and hobbies to establish marketing strategies along with concerns and risks. Organizations can find out easily about consumers’ likes, dislikes, what brands they use, what types of products they use. Organizations can create value for products according to Facebook users’ likes and tastes for getting financial benefits.

Tran, T. (2019) explained how government organizations can get benefits of using social media and what challenges they can face in saving unnecessary costs on marketing and answering customers’ questions. People can contact all level of government bodies, civic officials and agencies easily to get information about crisis like fire and flood, disease, rules and regulations. Government agencies do not need to struggle to pass their messages to people and spread awareness, they just announce on government’s Facebook pages, posts and video go viral and information reach to people within no time. By doing this, government save lots of time and money. Government can also indirectly save money which they might have to spend on rescuing people from the danger. This article shows that federal agencies in the United States save around $1.5 billion yearly in maintaining relationship with public and advertisements. Social media provides opportunity to build public trust, helps government in saving billions of dollars and reducing unnecessary costs.

Carter, B. (2012) stated that Facebook is used in ecommerce based on advertisements and fan-based marketing campaigns. Facebook ad platform takes users directly to the ecommerce site that target fans on the fans pages where fans can find posts related to their favourite brands. In this way, businesses can maintain understanding with consumers that helps in getting better results and boost traffic on Facebook pages. Organizations can target sixteen different categories including age, groups, community, workplace, education level and majors

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POOJA PANCHAL 3/19/20 MGT502: BUSINESS COMMUNICATION

in universities and more via Facebook emails, text messages and ads to ensure that Facebook pages have qualified subscribers who have ability to read those promotional emails, offers and discounts schemes. This strategy is affordable, effective and profitable for businesses in selling products and services faster. Hence, Facebook Advertised-based ecommerce, fansbased marketing and Facebook Emails and text messages support in generating revenue, earn ecommerce sales and profits.

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References 1. Awad, T. A., & Abdel Fateh S. M. (2015). The Impact of Social Media Branding on

Developing Brand Advocates for Start-Ups: International Journal of Online Marketing, 5(4), 580-588. Retrieved from https://link-galecom.ezproxy.laureate.net.au/apps/doc/A443918803/AONE? u=think&sid=AONE&xid=4133d507 2. Karjaluoto, H., Mustonen, N. and Ulkuniemi, P. (2015). The Role of Digital Channels in Industrial Marketing Communications. Journal of Business and Industrial Marketing, 30(6), 703-710. doi:10.1108/jbim2013.04.0092 3. Influencer Marketing. (2018). Retrieved from

https://influencermarkeringhub.com/how-to-make-money-on-facebook/ 4. Carter, B. (2014). The Like Economy: How Businesses Make Money with Facebook (2nd ed.). Indiana, United States of America: Cindy Teeters 5. Turner, J. & Shah, R. (2015). How to Make Money with Social Media: An Insider’s Guide to Using New and Emerging Media to Grow Your Businesses (2nd ed.). New Jersey, United States of America: Amy Neidlinger 6. Benefits of Facebook for Business 2016 (Qld). Retrieved from

https://www.business.qld.gov.au/running-business/marketing-sales/marketingpromotion/online-marketing/facebook/benefits 7. Smith, K. (2019). The Importance of Social Media in Business. Retrieved from

https://www.lyfemarketing.com/blog/importance-social-media-business/ 8. Ramsaran-Fowdar, R., & Fowdar, S. (2013). The Implications of Facebook Marketing

for Organizations. Contemporary Management Research, 9(1), 73-84. Retrieved from https://doi.org/10.7903/cmr.9710 9. Tran, T. (2019). Social Media in Government: Benefits, Challenges and How It’s

Used. Retrieved from https://blog.hootsuite.com/social-media-government/ 10. Carter, B. (2012). 5 Proven Ways to Generate Revenue from Facebook. Retrieved

from https://mashable.com/2012/01/12/facebook-make-money/

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