Presentation for Research Project Titled ``Study
on the Effectiveness of Social Media
Marketing for Small Businesses``
Name : Yishak Shawul Hailu
Enrollment No: 92000424308
Division C
Semester 6
Rajkot-Morbi Road,At & Po. Gauridad,
Rajkot-360003, Gujarat, India.
Introduction
Small scale businesses are typically defined as companies that have a relatively small number of
employees and revenue compared to larger, more established businesses.
These types of businesses are often privately owned and operated, and can include a wide range
of industries such as retail stores, restaurants, service providers, and online businesses.
They may also be referred to as "mom and pop" shops or "small businesses". They are considered
as the backbone of economy and play an important role in creating jobs and promoting economic
growth.
Social media refers to online platforms and apps that allow users to interact and share content,
such as text, photos, videos, and audio. Examples include Facebook, Twitter, Instagram, TikTok,
LinkedIn and others.
Social media marketing has its roots in the early days of the internet, when online discussion groups
and message boards first appeared as a means of communication and information sharing. However,
social media as a marketing instrument didn't really take off until the introduction of websites like
MySpace and Facebook in the mid-2000s.
Businesses started to recognise social media platforms' potential as marketing tools as their
prominence increased. With the launch of YouTube in 2005, companies now have a new platform to
advertise their goods and services using videos. Additionally introduced in 2006, Twitter gave
companies a new venue for engaging with customers and building brand awareness.
Social Media marketing
The way small businesses interact with their customers has been transformed by
social media marketing. Reaching potential customers, increasing brand
awareness, and engaging with existing customers can all be accomplished at a
low cost and promptly using social media platforms. The largest social network
in the world at the moment, Facebook has more than 1.7 billion active users.
There are hundreds of millions of active users on social networking platforms
like:
- Youtube, - Snapchat and others.
- Instagram,
- LinkedIn
- Twitter,
- Tiktok
Influencer Marketing
Influencer marketing is a collaboration between
popular social-media users and brands to promote
brands' products or services.
In order to reach their followers and promote their
goods or services, brands work together with
influencers. Customers tend to trust
recommendations from influencers they follow
more than traditional advertisements, so this
method of marketing has proven to be successful.
Where is Social Media Marketing Going Next?
The field of social media marketing has undergone significant changes in a
short amount of time and is expected to continue evolving rapidly. While it
is difficult to predict the specific future developments, certain trends are
starting to become apparent.
The Metavers
More Sophisticated Influencer Campaigns
New Platforms
SIGNIFICANCE OF THE STUDY
This study aims to investigate the impact of social media marketing on the
performance of small businesses. As social media plays a significant role in today's
digital environment, it is crucial for small businesses to understand and utilize
platforms like Facebook and Twitter to grow their business. However, many small
businesses lack a strategy when it comes to social media. So the research aims to
provide alternative strategies for small scale businesses.
Literature Review
Social media is quickly becoming a crucial tool for marketing. Social media is
being used by more and more marketers and companies as a medium for direct
customer interaction and communication. (Michaelidou et al. 2011).
Businesses can interact with customers on social media to build
relationships and better understand their needs. Businesses want their
message to reach as many individuals as possible. To maximize this
reach, a business must have a place where customers gather. They are
spending more time on social networking platforms. (Halligan, Shah, &
Scott, 2009)
While using social media, small businesses should have a strategy in
place. Since social media is used for marketing in a variety of ways, no
one technique works for everyone (Cox, 2012).
RESEARCH PROBLEM
The research aims to answer the question: How does a small business recognized for using social media
to grow the business, use social media to engage consumers?
RESEARCH OBJECTIVES
To identify how can social media be applied on small business.
To assess how social media has affected small businesses.
To identify the social media tactics employed by small businesses.
Scope of Studies
Social media platform efficiency
Social media marketing tactics
Consumer behaviour
Metrics and analytics
Opportunities and challenges
Research Hypothesis
Comparatively speaking, small firms that employ social media marketing are more likely to see a
rise in sales.
Customers are more likely to stay with small businesses that interact with them on social media
platforms than those who don't.
Research Design
The research design that this study undertaken is systematic search,
assessment, and summarization of previously published, pertinent
research are all components of a literature review. An extensive and
critical evaluation of the state of knowledge on a particular research
question or topic is what a literature review seeks to accomplish
Data Collection Sources
My information comes from Secondary sources are data sources that
have previously been compiled, examined, and released by another
party. Scholarly articles, books, reports, government publications, and
statistics databases are a few examples of secondary sources.
Limitation of the Research Project
Restricted access to primary data
Absence of detail
Possibility for bias
Information that is outdated or lacking:
Findings
Increased Brand Awareness:
Better Customer Engagement
Cost-Effective Marketing
Increased Website Traffic
Increased Search Engine Ranking
Suggestions
Small businesses can use social media as a potent tool to connect with and interact
with their target market. Listed below are some social media tactics small
companies can employ:
Define your goals
For your social media plan to be successful
Select the appropriate platforms
Create a content strategy
Engage your audience in discussion
Use paid advertising
Follow up on and evaluate your outcomes
Conclusion
In conclusion, the research conducted on the effectiveness of social media
marketing for small businesses has shown that social media marketing can
be highly effective in promoting small businesses. The study examined the
use of social media marketing techniques by small businesses and found that
businesses that utilized these techniques were more likely to have increased
brand recognition, customer engagement, and ultimately, higher profits.
Small companies should emphasize social media interaction by quickly
responding to customer comments and messages. In addition to fostering
customer loyalty and trust, this can offer companies insightful feedback on
how to better their goods and services. Small companies should also think
about spending money on paid social media advertising to reach a wider
audience and target particular demographics
Thank You !!!!
