STUDY OF SOCIAL MEDIA STRATEGIES FOR ONLINE BUSINESS

Abstract

The study of social media strategies for online businesses reveals that social media marketing has become a crucial tool for businesses to connect with their target audience and achieve their objectives.  Study showed that the recommended frequency of posting on social media for advertising purposes is three times a week, as it helps in keeping the brand name and its services on top of the customers' minds.  It was highlighted by the study that when company makes a presence on the social media their focus should not be only restricted to selling the product. Building a community around the brand is equally important and this can be done by regular posting, organizing workshops, and hosting quiz competition.  Furthermore, including a link to the purchase page in advertisements was viewed positively, with a good likelihood of customers making purchases directly from the advertisement.  The study also indicates that Instagram is currently considered the best platform for achieving various objectives except when you want to talk about the culture of your company.  Overall, the study recommends social media as the best medium for startups to promote their products in today's time, as it enables direct engagement with customers and drives them to the company's website for making purchases and that in turn reduces the number of brands considered buy the customer.  Advantages and disadvantages ofthe social media are also analysed in thisreport.  There are several recommendations that businesses can consider implementing in their social media marketing strategies and can potentially yield positive results are use of authentic User-Generated Content (UGC), micro-influencer partnerships, social media listening for customer insights, giveaways, chatbots for customer service and cross channel promotion. All of these are further discussed in the recommendation sections.