SOCIAL MEDIA- A MARKETING TOOL IN TODAY’S WORLD

SOCIAL MEDIA- A MARKETING TOOL IN TODAY’S WORLD

-      Aastha Jaiswal

The whole model of the Science of Marketing is attracting potential reliable customers and satisfying the existing customers.  Every industry has its own competition, driving the cost of marketing. Hence, in most cases, marketing can be expensive.

For small business owners, who have been recently funded, marketing costs can take a huge chunk of their original budget, which they cannot afford to lose. They have to take care of production investments and machinery costs. For them, ideally, social media can be an effective tool for marketing their products. Individual start-ups, small organisations and businesses with a good background of media marketing can benefit from social media. This is a very cost-effective tool to showcase their products and services. In the beginning of this new field, now known as Social Media Marketing (SMM), small new businesses took part and employed their campaigns with social media giants like Facebook, Instagram and Twitter.

With the advancement and success of SMM and its promising results, companies like Uber, Zomato and Airbnb started promoting their products and services over social media.

Uber employed Facebook and Twitter to receive negative as well as positive feedbacks and Instagram for revealing new deals, offers, updates on the application and exclusive discounts.

Airbnb has made its marketing skills go to the personal level by asking its customers to post Instagram stories about their experience and stay at the company’s residences and by reposting their homestay pictures. This is a remarkably smart strategy used by Airbnb since people believe in originality and what they see. These strategies have made Airbnb a home-made name in the hospitality industry.

Zomato, the restaurant aggregator and food delivery giant has revolutionised the food network through its social media strategies. They believe in customer to customer relationship and ‘content is king’. Their ‘Yummy Yatra’ campaigns, and ‘Foodie Friday’ contests have generated a lot of response on social media, making their marketing  strategies- 10/10

SMM works because all your potential customers are on social media, and are found to be more responsive to your advertisements on this platform, as it shows a completely different side of your company. Customer to customer reach has been completely possible due to the presence of social media, its cost-effective nature and the wide base of interaction that it offers to the company and its potential customers.

Social Media Marketing in the true sense also results in the increase of a company’s inbound traffic. Every piece of content posted brings a new set of viewers to your page, giving you the opportunity and the possibility of converting them into your customers.

Lastly, the most important feature of social media is the knowledge of the functionality of its different platforms-

FACEBOOK- What you won’t find anywhere, you will find it on Facebook. It offers you a very wide range of audience cover from all strata and hence one should start their SMM from this platform. It is here where you get the majority of the customers through Direct Response Advertising, Detailed Audience Analysis and Social Posting.

INSTAGRAM- One of the most rapidly growing social media platforms, Instagram has been used by company giants to increase the appeal, visibility, connection and reach of their business. Over 800 million users are active on Instagram, 60 million photos are posted and 1.6 billion likes are generated on a daily basis. This clearly showcases the social media connection value of this platform. Creating Instagram product stories, using business profiles, partnering with influencers for better reach, and sponsoring advertisements can help in increasing your customer reach.

TWITTER- The American blogging and social media giant makes its users operate through ‘tweets’ and allows you to enter company names, brands, topics through a search engine. According to Twitter, 1.6 billion unique visitors see tweets, corresponding to 500 million tweets per day! Hence, it is safe to say that Twitter offers you a realistic platform to increase your business and gets public messages accessible easily to you. This platform may be used for feedbacks on services, latest reveals and announcements.

The true power of Social Media should never be underestimated. In the right hands, with the right marketing skills, a company can make its mark in the business world.


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INEQUALITY IN PAY BETWEEN MAN AND WOMAN… EXISTS OR A MYTH?

INEQUALITY IN PAY BETWEEN MAN AND WOMAN… EXISTS OR A MYTH?

Ever since our early days at education and in real life, we have been well acquainted and accustomed to the word ‘Equality’. We reason and associate with this word so frequently and often out of range and meaning, that we forget how diligently this word and its concept should be examined.

Gender Pay Gap is the overall average difference between the remuneration provided to the working men and working women. According to some critics, it has been observed that this concept is a myth and is frequently used by women in the name of feminism and old age oppression which no longer exists.  However, this is not true. There are various factors solely decided by women that contribute to the Gender Pay Gap. Wage differences between men and women provide a deeper insight into dimensions such as education, occupation, working hours, shifts, etc.

For example, in the case of the narrowing of the Gender Pay Gap index, keeping in mind the consideration of more educated people to have high earnings, we can say that women have levelled up same to men in areas of educational attainment, particularly in years of schooling.

With respect to differences in education contributing to differences in wages, we come to unadjusted and adjusted pay differences. Raw or Unadjusted Pay Gap occurs when the differences in wages between both men and women is calculated without keeping in consideration the differences in worker characteristics. Adjusted Pay Gap results when the complete process takes place with consideration of differences in education, experience, other factors, etc.

From an Indian perspective, there are two things to be kept in mind-

1.   No gender discrimination occurs during campus placements. All are offered equal pay, excluding the criteria of which city they are placed in. (City Tier Allowance)

2.   No gender discrimination in government jobs. All are offered the same pay, apart from the work experience criteria.

Both the genders, men and women, have their own setbacks when it comes to payment for work done. Both deserve equal respect and opportunities. However, the only difference that should be made is on the basis of the kind of work the individual presents to the firm. In the Bollywood industry, actresses have been found complaining about their pay regardless of them having the same talents as the actors. This is highly contradictory since all depends on what you bring to the table, that is, the kind of perfection and proficiency you bring to the table (the actress’s star value, the support of the people and the fan following). The scale of demand and supply affects the work industry as well. There’s no payment without work, and had women been cheaper to hire, the companies in general would have had more female employees than male. But since this is not the case, instead of equalizing pay on the basis of gender, one should focus to reach high levels of success and achievement.

Do share your opinion