Marketing Research
It has been observed through few decades that social media, Internet based application like Web, email etc. have encourage us through several opportunities to increase the globalised connectivity for the organizations and individuals. Throughout the years the internet has been developed rapidly. It has been changed and transformed from its creation to a more updated generation of the Web which is called Web 2.0 from a traditional platform of World Wide Web (Berners-Lee &Fischetti, 2001; Kaplan &Haenlein, 2010; O’Reilly, 2007).
Organizational and Individual’ use of Web based application social media applications have been growing rapidly. It has been identified World Bank that there are almost 2,512,400 billion users who are around the world (Internetworldstats, 2018). Since the year 2000, the total number of internet users was in Worldwide of 360,985,492 only (Internetworldstats, 2018). From the several research it has been identified that in Australia, there are almost 12 million active users of Youtube and Facebook. On the other hand, Blogspot WordPress, Twitter, Flickr, and Instagram and other social media applications have 5 million active monthly users (Cowling, 2013).
Every firm throughout the world is much interested to grab this opportunity for the design of their activities like public relation, promotional campaigns, and customer relationship management etc. It has been observed that opportunities come through the big social data as many firms are still struggling to create value and design from their big analytics of social data (Kiron, Prentice, & Ferguson, 2014). Apart from that World Wide Web of the internet is great businesses undertaking research tool. Market research and market both are the most important for the companies to achieve competitive advantage and in this regards, internet plays the most important role a through the information to help them perform the research. Primary data will be collected through the use of online surveys and secondary data will be collected through many websites (Skurpel, 2016). The present research is about to explore the information regarding social media analytics and the advantages of marketing research through internet (social media).
Market research denotes gathering data systematically about the organizations, people and the market. Market research helps to analyze the data for the better understanding of the needs of the group of people or organizations. Market research helps to identify the company strategies, operations, and their potential customer base. It also helps in understanding the changing needs of the customer, industry shifts and trends of the legislative (Gupta &Benedett, 2007). In modern days marketing researchers can use the social media and internet in three ways. These are like through the study of the internet marketing strategy, through the survey via offline or online (using internet) and through the study of the consumer behavior of the internet (Furrer and Sudharshan, 2001).
Social Media Analytics
Social media analytic is the tool which helps in gathering data from the websites of social media. It also helps in analyzing the data through social media analytics (Agrawal, Budak, & El Abbadi, 2011). Social media analytics commonly used as the mapping the sentiments of the customers to help the customer service and marketing activities (Mangold & Faulds, 2009). Zeng, Chen, Lusch, and Li (2010) observed that social media is the most useful tool for the business organistions and individuals which helps them to analyze the trend of the market and expectation of the customers. A. Chen et al. (2014) identified that social media helps in measuring the business goal and which data is useful to meet the business goals. Social media analytics are helpful when the business organizations use it for the benefit for the customers and society (Agrawal et al., 2011).
There are several types of Social Media analytics. These are analyzed below:
Table 1: Types of Social Media Analytics (SMA)
Source: (Wamba et al. 2016)
In the opinion of Watson et al. (2002) and Sheth and Sharma (2005) Social media has several advantages like promoting business and enhancing marketing strategies of the business. The advantages can be the large audience like large amount of Fackbook, Twitter and Instagram users. There are almost monthly 313 active users of Facebook and Twitter. Social Media marketing has huge advantages and one of the main advantages is that social media marketing is free to start (Watson et al. 2002; Sheth & Sharma 2005). The most essential advantage is social media has the ability to get the help from its followers. Social media marketing is free and anybody and any organisation can access it and it does not require any fees to promote the business process and advertisement. Social media always protects the credentials and information of the users and do not share it anybody else (Watson et al. 2002; Sheth& Sharma 2005).
Social media through its unique marketing process helps to increase the brand loyalty of the certain organisation or the product. Through the research it has been identified that maximum users of social media always follow their choice able brands in social media. Social media facilitates two way communication process for their users which allows them to maintain and build relationship with the customers who are potentials. It helps to encourage the organizations or people in making their decision and to choose the future brands through several suggestions. Social media helps to uncover the valuable insights of the customer and which helps the business to take the smartest business decision (Watson et al. 2002; Sheth& Sharma 2005). Social media above all helps the business organizations to take unique decision and to identify the potential customers and markets (Watson et al. 2002; Sheth& Sharma 2005).
Social Media Marketing Advantages
Conclusion
Throughout the research it has been identified that Social media marketing the most useful process. It helps the business to reach its objectives and get the potential customer base. On the other hand social media analytics helps to analyse the data on behalf of the organisation to identify the market demand and need of the customers (Greenberg, 2010; Sarner et al., 2011; Kevin J Trainor, 2012). Social media analytics are the most useful internet based tool without which modern days business is impossible (Chamlertwat, Bhattarakosol, Rungkasiri, & Haruechaiyasak, 2012; Kiron, Palmer, Phillips, & Kruschwitz, 2012; Zeng et al., 2010).
Therefore, through the researcher has been able that there are so many advantages that a company can get if it adopts this new technology. Social media analytics has the unique quality to identify the potential customers, market trends, demand of the products and business competitions. By using this system, companies can reduce cost and enhancing reach. With this report, researcher hope JWS Company can consider to adopt this new technology. This system also helps companies provide clear information to customers directly.
Reference
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