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The Marketing value of Social Media Tools at Business Level Strategy

Papagiannis, F The Marketing value of Social Media Tools at Business Level Strategy. In: 3rd International Conference on Communication and Management (ICCM2017), 24th -27th April 2017, Athens, Greece. (Accepted)

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Abstract

Social media (SM) is considered to be the most trending tool for increasing brand awareness as well as enhancing customer acquisition of companies (Goud, 2016). Multinational companies as well as small-to-medium enterprises (SMEs) are using various social media websites for expanding their business growth across different parts of the world (Kaplan and Haenlein, 2009). Recent research has found that almost 80% of the customers in the near future will be inclined to purchase products on the Internet rather than by visiting physical stores. In addition, social media websites provide details of customer’s preferences and choices, which help companies to develop marketing strategies aimed at stimulating and targeting customers. Companies use both the traditional marketing approach as well as the digital marketing approach in order to increase brand awareness and customer acquisition. This paper aims to illustrate the effectiveness of social media in marketing approaches of companies compared to traditional marketing approaches. Businesses today collect customer feedback from social media websites by introducing various promotional campaigns. Businesses not only collect feedback from their existing customer base, but also help attract more customers by converting the followers of the websites into potential customers. Due to the immense opportunities available through the use of social media websites, businesses prefer social media channels to legacy media (O’Murchu et al., 2004).

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Social Media Tools; business strategy
Subjects: H Social Sciences > HF Commerce > HF5001 Business
Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Divisions: Liverpool Business School
Date Deposited: 18 Apr 2017 08:47
Last Modified: 18 Apr 2017 08:47
URI: http://researchonline.ljmu.ac.uk/id/eprint/6213

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