Social Media on the Advertising Competitiveness of Small Businesses

Limitation and Delimitation

Significance

Results and Major Findings

Tactics

Word of Mouth

Communicating with Customers

Considerations

Implications of Study in Organization

Attracting New Customers Right When They want to Make a Purchase

Helps Businesses Engage their Customers

Helps the Organization to Outsmart their Competition

Enables an Organization to Offer a Range of Incentives

Few other Outcomes

Understand the value of social media on your brand and your solutions and how to measure it

Align your company in ways that best engage your buyers and subsequently allow you to deliver value

Understand that value in today's social media dominated world is not an event, but a collection of ongoing relationships

References

Introduction

Nowadays, marketing has become the heart of every business. A business might succeed in developing excellent products or services but eventually success depends upon the number of customers an organization manages to attract. Despite of its increased significance in the growth and expansion of any business, it needs to be carefully handled specially in small businesses that have small margin. Managing the marketing budget in such scenario is a challenging task. With the growth and expansion of technology across the globe, role of marketing has not only become significant but has also evolved dramatically. One of the leading reasons that have led to the changed role of marketing is the involvement of technology in this field. It has changed the way an individual see the world. One of the leading latest trends that has evolved the role and involvement of technology is the explosion of social media. However, it's not always advantageous. It is not merely an opportunity. It can be a threat as well. For instance, social media gives an opportunity to the consumer to interact and communicate with one another. This can be a threat to the business as customer has the access to technology to the extent that he can post his negative comments about the organization and these comments will be available to the audience thatcomprise of millions of people across the globe that can easily interact with each other with the help of widespread technology. The seven basic components of social media are existence, involvement, discussions, uniqueness, crowds, relations, and repute. Another important feature of advertising that causes a hindrance among the small businesses to gain competitive advantage is high cost of advertising. As a consequence, these small businesses are at a considereddifficultyas comparedto larger organizations because of the lack of huge budget and financial resources to finance their advertising and promotional activities.Due to the increased significance of social media in advertising activities, the small businesses need to realize its importance. Social media is a very useful marketing strategy in such circumstances and must be utilized properly.

Purpose of the Study

The basic aim and purpose of this study is to explore and bring the factors to light that whether social media can make it easier for small businesses to struggle with larger businessesand gain competitive advantage. The influence of social media on the advertising effectiveness of small businesseswill be thoroughly studied in this research. It is commonly believed that social media changes the business. The purpose of this research is to figure out the reasons that have led to the increased significance of social media in small businesses.

Research Question

The research question for this study is: "Is social media a viable strategy for increasing SME advertising competitiveness and will that allow them to compete with larger enterprise businesses and what are some of the process that can be used?"

The research question is one of the first and most significant procedural steps the investigator has to take when undertaking research. A well-designed research question carries a great importance to a study. The research question must be precisely and undoubtedly defined. Selecting a research question is the fundamental component of both quantitative and qualitative research and in certain circumstances it may head creation of the abstract framework of study. In all circumstances, it makes the theoretical assumptions in the outline more clear, most of all it indicates what the researcher needs to know most and first.

Significance of the Study

With the growth and expansion of technology across the globe, role of marketing has not only become significant but has also evolved dramatically. One of the leading reasons that have led to the changed role of marketing is the involvement of technology in this field. It has changed the way an individual see the world. One of the leading latest trends that has evolved the role and involvement of technology is the explosion of social media. However, it's not always advantageous. It is not merely an opportunity. It can be a threat as well. For instance, social media gives an opportunity to the consumer to interact and communicate with one another. This can be a threat to the business as consumer can post anythingdamaging and pessimistic about the organization on the Internet, and the audience comprise of millions of people across the globe that can easily interact with each other with the help of widespread technology. These are all significant aspects that make this study important.

Limitation and Delimitation

There can be limitation and delimitations to this study. The foremost and primary limitation for this study is its strict dependence on secondary resources. Although dependence on secondary resources can be very useful in context of time and money but the chances are quiet rare that one will get an ideal and perfect match. A major limitation usually confronted by the researcher about the research is the lack of availability of up-to-date and complete information. The info usually available is obsolete and it can negatively influence the results obtained. It can influence the research findings. Nevertheless, one of the best possible solutions to avoid this problem is to study the organization over a period of time in order to attain maximum possible correct results. Acquisition of a past circumstance for existing organizational difficulties and techniques can be strength of the research.Similarly, choosing the sample population is a difficult task. It is not only time consuming, but also difficult as the respondents need to be convinced about privacy. This research involves professionals and large organizations, this would make the respondents much more cautious and alert in becoming a part of the research. Firstly, it might be perceived by the respondents that participating in any research can do no good to them and would in fact negatively influence their productivity.But adopting few measures can nullify the negativity that has occurred. For instance, giving sufficient amount of time to the participants will definitely motivate them to be a part of the research and express their views and ideas about the research. It will also generate the idea that it will not have any negative influence on their work.Sufficient time given to fill out the survey will definitely increase the number of respondents in a survey.Secondly, another insecurity of the respondents that will result in hesitation to participate in the research is that how their participation will be used or exploited.No one wants to publicize their views and thoughtsif there is a probability that it wouldendanger their employment. Assuring that their privacy will be maintained will positivelyease this nervousness.

There are numerousrestrictions to this research. Firstly, the number of concerned people to respond to the survey is very few. Most of the people would not take time to participate on the excuse that they are busy and cannot spare much time. Even if they agree to complete the research, the info provided might not be up to the requirement of the researcher or may lack any important measure.

Furthermore, this study will be conducted in only one country. Thus it will be specific for this one country only and researchers cannot be sure that whether the results obtained can be believed to be general or thought to be implemented globally.

It is also important to keep in mind andstudy that there are always variations and modifications taking place where social media is concerned.It can never be consistent.

Methodology

Introduction

Qualitative analysis is frequently used to study the outcomes from interview questions that were given by theparticipants of the survey.The research question for this study is: "Is social media a viable strategy for increasing SME advertising competitiveness and will that allow them to compete with larger enterprise businesses and what are some of the process that can be used?"

Population

The current research will target local small businesses, which area significant part of direct delivery of goods or services to consumers of businesses. Small business proprietorswill bebriefed about the research, its purpose, its confidentiality and its aim. Those who are willing to the terms and conditions of the research will be interviewed personally as well as in a focus group. Questions of primary significance in the interviews will comprise whether the social media is significant to the small business enterprises, whether it can aid in gaining competitive advantage…