Impact of Social Media on the Advertising Competitiveness of Small Businesses Multiple Chapters

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¶ … Social Media on the Advertising Competitiveness of Small Businesses

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Every business, from the largest enterprise to the smallest start-up, faces the continual challenge of staying in touch with their customers and continually earning their trust and business. Social media is the catalyst that is continually changing customer relationships and making them more interactive, open and collaborative. Today's customers have more choices than ever before in terms of how they choose to learn about new products, services, and gain insights into areas of interest. For marketers to be successful, they need to realize that their customers; preferences are changing quickly, and that agility over formal, often static processes from a marketing and selling standpoint, are essential to survive in an increasingly competitive global economic environment. The intent of this dissertation is to show how the foundational elements of social media including its core building blocks of presence, sharing, conversations, identity, groups, relationships and reputation together combine to redefine the brand of any business, large or small. It is on how these elements are synchronized around a common marketing and sales objective that matter most. This dissertation also provides insights into how quickly the value chain of businesses is shifting to be more customer-centric as a result of social media's pervasive influence. No longer can the traditional methods of marketing be relied on, often with weeks or months of lag time between the completion of a program and its results being reported. Social media, due to its digital nature, reports back Return on Investment (ROI) immediately through the use of analytics. Small businesses have the speed and time to value advantage, due to analytics and agility winning over sheer size of a given business.

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TOPIC: Multiple Chapters on Impact of Social Media on the Advertising Competitiveness of Small Businesses Assignment

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Impact of Social Media on the Advertising Competitiveness of Small Businesses.  (2013, March 26).  Retrieved October 27, 2021, from https://www.essaytown.com/subjects/paper/impact-social-media-advertising-competitiveness/8631033

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"Impact of Social Media on the Advertising Competitiveness of Small Businesses."  26 March 2013.  Web.  27 October 2021. <https://www.essaytown.com/subjects/paper/impact-social-media-advertising-competitiveness/8631033>.

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"Impact of Social Media on the Advertising Competitiveness of Small Businesses."  Essaytown.com.  March 26, 2013.  Accessed October 27, 2021.
https://www.essaytown.com/subjects/paper/impact-social-media-advertising-competitiveness/8631033.