Question

how the company uses social network to improve its online auction

Answer 1

An online auction or virtual auction is a service in which auction users or participants sell or bid for products or services via the Internet. It enables buyers and sellers in different locations or geographical areas to participate in the auctions in real time. There are various auction sites such as ebay, webstore, ecrater, etc.

Companies uses social media network in following ways to improve their online auction:

• Social channels are a great place to get noticed and to reach a new audience. For example, companies uses Twitter, Facebook etc to advertise about their auction. This helps in reaching vast majority of population.
• Companies may use Thank-you posts (preferably including photos) or Testimonials to tell people how good their online auction sites and many people have benefitted from them.
• Companies creates a Facebook Event for online auction.
• Companies may use email to communicate important details about auction that will attract participants.
• Companies may hire social media celebrity to endorse their online auction. For example, Instagram celebrity can be hired to entice participants.