Importance Of Social Media And Mobile Technologies in E-Commerce

Importance Of Social Media And Mobile Technologies

It will allow Stone Promotions to use the data and resources of the company. It will increase the efficiency and customer services of the business.

Benefits of using Mobile technology for Stone Promotions are

Better Networking

It can be used to improve the level of connectivity between musicians, bands, employees and the customers. The workers can use web based applications to connect with other employees. Furthermore, it can be helpful in improving the customer service and promoting products and services of the company. The customers can download details prepared in the digital format by the company. It will enhance the quotation and interactive order processing system.

Marketing

Social media, e-commerce and mobile technology can be used for promoting the business worldwide. Stone Promotions can use mobile applications, banner ads, IVR messaging, mobile websites and text messages (MacIntyre, 2015). Digital marketing can help them to customise the services according to the target audience.

Development

It will help the company to share information and get immediate feedbacks on their services. It will engage customers and clients in various processes of the company. It will allow Stone Promotions to remain ahead in the competition by increasing the speed and accessibility of their services (Castells, 2015).

Commerce

Mobile ticketing facility

It will allow the customers to book and cancel tickets by using mobile technology. It will give facility to the customers to use their tickets by showing their phones at the venue (Miller and Skinner, 2015). Social media and mobile technology can also be used to distribute tickets, vouchers and coupons.

Services based on location

Stone Promotions can track the location of the users and provide them with location based services. For example, local discount offers, notifying them about events in their areas etc (Xiang, Magnini and Fesenmaier, 2015). Apart from this, lot of information can be disseminated to the customers through social media and mobiles.

Internet banking

All banks allow transactions through internet and mobiles. A business can lag behind if they do not provide internet and mobile banking platforms to their customers.It will improve the customer relationship management system of the company. It can also provide flexibility in working like home based working, working while travelling etc (Robinson and et.al., 2015). There has been increased growth in tablets, cloud technology, mobile credit card processing, GPS and social networking sites like Facebook, Twitter, and Google etc. It can provide mobile technology solutions like mobile infrastructure, marketing solutions, communication and commerce & application development. Music Promo Today has been benefited by the use of social media and mobile technology.

PROCESS FOR IMPLEMENTATION OF SOCIAL MEDIA STRATEGY

Choosing platform

Initially, Stone Promotions have to decide the platforms used by them (Schreiber, 2016). Social media strategy has to ensure that the chosen platform attract large number of people. It will help the company to get the best results of their social media strategy. They can choose Facebook, Tumblr, Pinterest, Twitter etc.

Setting up accounts

The next process for the company is to set up accounts for their chosen online platform. They have to register themselves to the relevant site.

Defining goals and objectives

Stone promotions have to set their goals and objectives. It can be to increase the credibility of the company, improving e commerce purchase, developing a corporate culture, increasing the quantity of feedback, increasing sales, customer interaction etc (Rajni, Modi and Singla, 2015).

Making budgets and targeting

Company has to set targets and budgets as per their goals and objectives (Meier, 2015).

Social media and content strategy

The goal of Stone Promotion is to increase their sales. In order to accomplish this, they have to decide their target audience. A stone promotion is a music promotion company so it will better for them to target the age group of 18-35 years (Strategic principles for competing in digital age, 2016). These are the people who are technology enthusiasts. The content has to be appropriate and it should be delivered through an effective media channel. They can use Pinterest, YouTube, Facebook and blogs like mine, Tomoson etc.

Monitoring

Social media strategy has to be changed according to the preferences and needs of the customers (Hudson and et.al., 2015). Stone promotion has to post fresh content every day to attract the customers. It will benefit the company in the long run.

Building a team

Stone promotion has to build a team which is specialised in content writing and media promotion. The company can use videos, infographic, events and guides (Miller and Skinner, 2015). This will ensure the ongoing presence of the company and will help them to grow their business.

PROCESS FOR IMPLEMENTATION OF MOBILE STRATEGY

It has been found that more than 75% of the Smartphone users are accessing internet services through their phones (Strategic principles for competing in digital age, 2016). If a business is not using mobile technology, it means they are missing out on a big opportunity in the market. It can help Stone promotions to increase their sales and promote their services. The best mobile strategies for Stone promotions are as follows:

Corporate mobile strategy:

Stone Promotions have to define their objectives and formulate mobile strategy for the company. At present, the company is looking to increase their sales. In order to accomplish this, they have to improve their networking (Xiang, Magnini and Fesenmaier, 2015). They have to take into consideration the benefits of mobile technology on the customers and employees.

Building the environment

The next step is to make changes in the existing infrastructure and facility to facilitate the implementation of mobile strategy. Stone promotions have to develop an application which can be downloaded by people on their phones (Castells, 2015). Their website has to be customised in such a way that it can be accessed with a Smartphone easily. Mobile apps are useful for those people who are loyal customers. On the other hand, websites allow other people to avail the services of the company. Stone Promotions have to invest in the UX design to develop mobile app and website.

Integration with social media

It has been found that 71% of the customers review the services online before making any payment. So, it will beneficial for Stone Promotions to integrate their mobile strategy with their social media platform (MacIntyre, 2015). It will allow them to increase their customers. The company can disseminate the information about events and concerts by using the technology.

• Making use of multi screen device: Mobile strategy should include devices like tablets, PC and smart phones. Furthermore, the marketing campaigns have to be altered according to the change in device, time of the days and location of a person (Schreiber, 2016). They should not be limited to only one platform and take into account that they address large number of people.
• Notifying and advertisement: Customers have to be notified for discounts, coupons, savings and other benefits. It will help the company to retain the customers (Miller and Skinner, 2015). They can use the location of the customers to device strategy according to their personal needs and requirements.
• Optimising emails: Stone Promotions can use emails to send their newsletters and it can be used to get the feedback of the customers (Castells, 2015). It will help the company to grow and improve their customer services.

RISKS INVOLVED

Public relation crisis

Stone promotions have to ensure that only positives of the company are reflected on social media. There is huge risk involved in it which can turn the brand into crippling situation. For example, a false information about a company or dishonesty can go viral which can be detrimental for the interest of the company (Turban and et.al., 2015). There have been many situations in the recent past where some negative feedbacks have gone viral and it has affected the business.

Increased competition

There can be chances where the competitors follow the same strategy. It can increase the competition as it is easier to understand the strategy of a company (Meier, 2015).

Legal implications

It is essential to follow all the rules and regulations of the government. Stone promotions have to make sure that they are aware about all the legal compliances so-as-to ensure no problems in the future.

Pressure on the business

Social media can create huge pressure on the business to perform well and achieve its objectives (Rajni, Modi and Singla, 2015). The customers can easily compare prices, services and products of different companies. This reduces the retention power of the company as their customers can switch brands. For example, a rival company of Stone promotions provides heavy discounts on any event (MacIntyre, 2015). The customers of Stone promotions may find that price attractive and they choose the rival company. It can affect the business of the company.

Require specialised talents

Stone promotions have to recruit new IT professionals to manage the social media and mobile technology platform. Furthermore, they have to change their entire process and policy in order to implement the changes (Strategic principles for competing in digital age, 2016). It can be costly for a new company as they have to gather all the resources in order to accomplish this.

New entrants

Stone promotions can face tough competition from new entrants which has better marketing and promotional strategies (Robinson and et.al., 2015). It can create problems for them as they have spent huge funds on the development and implementation of new technology in the business.

Opportunities and threats

These days, digitisation of business has become very essential. Technology has been a primary driver of market differentiation and profitability in every industry. The opportunities for Stone Promotions in the market are as follows:

Enhancing interactions

Many businesses and customers prefer digital channels, social connectivity and tailored made contents for them (MacIntyre, 2015). It can reduce the cost of transactions and it can be recorded in a transparent manner.

Improvement in management decision making

Social media and mobile technology can increase the sales of the company. It can be used by Stone Promotions to improve the performance of many business processes (Schreiber, 2016). It will help in better allocation of resources and mitigation of operational riskEnabling change in the business model: Stone Promotions can create their business model on the basis of existing customers, suppliers, employees and competitors strategy (Hudson and et.al., 2015).

Increased revenues

It will help Stone promotions to increase their revenues by attracting customers towards their services. They can provide services to many people irrespective of the geographical location (Xiang, Magnini and Fesenmaier, 2015). It will reduce sales cost and expenses of the company. It can be helpful in making the business process more effective and productive. It will also simplify the sales process of Stone promotions as they can keep a track of the customers and market.

Managing risks

It can provide information about regulator compliances, safety of customers and employees, field workers and information security. Thereby, they are helping in the management of risk in the organisation.Social media and mobile technologies have become an inseparable part of a business. It provides long term benefit to the company.

References

• Castells, M., 2015.Networks of outrage and hope: Social movements in the Internet age. John Wiley & Sons.
• Hudson, S. and et.al., 2015. The effects of social media on emotions, brand relationship quality, and word of mouth: An empirical study of music festival attendees.Tourism Management.
• MacIntyre, H., 2015. A Design Model for Cognitive Engineering.International Journal of Technoethics (IJT).
• Meier, L. M., 2015. And promotional work inside the ‘new’music industry.The Routledge Companion to the Cultural Industries..
• Miller, G. S. and Skinner, D. J., 2015. The evolving disclosure landscape: How changes in technology, the media, and capital markets are affecting disclosure.Journal of Accounting Research.
• Rajni, M., Modi, S. K. and Singla, B. B., 2015. An empirical study on product promotion. Social networking sites: a review.

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