Question

Social networking sites are fast becoming corporate resources. Consider how Facebook may be used by an organization. Can you think of different ways in which organizations such as Coca-Cola, KFC, or Bank of America can use social networking? What are network effects?  

If you were the chief executive officer of a Fortune 500 company, would you be comfortable using social media sites like Facebook or LinkedIn as part of your CRM strategy? Why or why not? At least 250 words.

Answer 1

Social media websites are being used as a tool for advertisement and other activities by different large companies.

Social media is an essential task for each and every organisation to create and maintain Public Relations as well as creating the sales management and marketing for an organisational products. By having a specific support for each and every team for social media and having an access over the platform can readily increase the overall compatibility level of the company towards the social media at work process. While having a control over the social media platform from different aspect of the company tools, one can easily increase its overall implementation level over the social media for providing better support for the organisation while maintaining customer relationships as well as marketing a product on the daily basis. Social media directly reduces the overall cost of advertisement hands providing login support to marketing sales department of your organisation could directly benefit the overall strategic implementation of advertisements over the social media in very less cost then the traditional advertisement methods. It also provides huge customer base and targeted customers for advertisement and providing the login to marketing sales department can be very beneficial for an organisation to sell its products and advertise the products over the social media in a cost effective method. Hi number of availability as well as efficiency directly increases the overall level of implementation for an organisation in social media.
Public Relations team can develop better relationships with the help of the social media has provision of the social media login to the public relationship team could be very beneficial for an organisation as it provides the basic support for overall implementation of the different Public Relations strategies. These specific strategies work directly towards creating an ethical environment for the customer as well as better Customer Service Management System. Social media presence of a marketing team can increase the level of satisfaction of the customer and directly increases the feedback which is reflected in the company's sales.
By implementing social media in sales team, level of sales could be increased by broadcasting different sales strategies over the social media campaign ings. Increase number of social media campaigns over the sales strategies could directly affect the overall sales of the company by maintaining proper sales flow over different social media mediums.

A fine example for social media effect on sales as well as Marketing department is xiaomi. xiaomi has used social media as a tool for marketing as well as sales which increase its market to the topmost level of mobile phone manufacturers as well as Palace inside India and developing countries.
This is specific perspectives applicable on the customer relative industries and does not apply on the raw material suppliers as well as interactive suppliers who are not directly involved with the customers. This is specific strategy won't work Where the customer base is directly not involved with the public and does not use the social media.

Even if I am in Fortune 500 company I would be using social media as one of the main tools as most of the world is directly connected towards these a specific platform and would give me better identity to be more productive and to affect and reach to more customers across the globe at a better skill and very less cost as compared to the traditional advertisement and other human relationship methods.