Digital Marketing Assignment: How Bushells Can Generate New Revenue Streams From Social Media
Task: You are tasked to prepare a digital marketing assignment presenting a literature review on “How Business can generate new revenue streams from social media: Bushells”. Use relevant sources to support your discussion.
The current discussion on digital marketing assignment sheds light on the fact that social media has become an integral part of business management. The platform not only connects the business to the masses but also is becoming an essential way of generating revenue. This section seeks to develop a critical argument on the basis of the existing secondary literature. The measures will be adapted in demonstrating the arguments and the critical views of the different authors on the selected themes. It is thus productive in developing a transparent idea about the role of social media in the business along with the arguments to fetch the concepts about the selected research question. The selected topic “How Business can generate new revenue streams from social media: Bushells” is focusing on the questions to evaluate the responsible factors and the challenges that Bushells has to face while using social media to generate revenue. In the process of develop a clear idea about the problems like improper strategies and operational challenges, the coherent implication of theories is done by linking them to the selected topic to reflect the deeper views of social media and its role in generating revenue for Bushells within the competitive business environment. The different themes for the evaluation of the secondary literature are based on the research question and researchproblem to generatevivid idea.
Role of social media within businesses
The social media platform has become a core part of any business. It is not only allowing the companies to develop an engagement with their targeted customers but is helpful in enhancing the image of the businesses. Garcia-Morales et al. (2018) were of the opinion that different social media challenges are developing good prospects for the business and help them to seek sustainability in the competitive business environment. Positive outcomes can be gained, and the business seeks growth ultimately. Olanrewaju et al. (2020) argue socialmediaplatforms are acting as the crucial tools which are allowing the companies to acquire the customer’sbases and thus develop their brand valuation. The promotions on social media are helping the brands to develop a positive image and thus ensure that the company is able to gain profitability by maximizing its sales. Social media handles like Facebook, Instagram as well as Twitter are acting as the essential tools by the businesses which they are creatively utilizing to generate brand awareness and therefore use it for their financial benefits.
Robertson et al. (2019) argued that the marketing measures have become digital. The increase in the social media users and develop a new scope of involving with the customers easily. The use of social media platforms for promotion is saving both times and cost in attracting customers to the brand. It has been evident that the customer can be easily convinced using social media sites. It allows the business like Bushells to develop a direct promotion to the customers and at the same time influence their buying behaviour. Bhimani et al. (2019) critically mentioned that the social media handles are executing a positive role in enhancing the business of the company as it allows the businesses to develop coherent arguments about the liking andpreference of the customers. It is essential for a business like Bushells to develop a positive idea about the preference of their customers so that profitability is maintained. Socialmedia is acting as the source of connectivity in developing interpersonalbonds betweenbusinesses and their targeted customers.
Ahmed et al. (2019) were in the opinion that selecting the social media platform for the promotional measuresis effective as it is cost-effective. It has been evident that businesses are more likely to develop productive measuresof keeping the customer's awareness of the products using the different creative contents of social media. As the promotional content keeps popping up in the news feeds of the social media sites, it is contributing to enhancing the liking for the brand leading to an urge to buy it. Muninger et al. (2019) were in the opinion that social media is one of the best methods of digital marketing as it provides the customers to have a transparent idea about the brand so that the urge to buy increases leading to financial gain to thebrand within the competitive business environment. Moro and Rita (2018) critically mentioned that social media sites allow customers to appreciate and criticize the brand freely.
The customers of Bushells will be able to show their actual experience, which intern acts as word of mouth for future buyers. The rating and the positivecomments on the different posts of Bushells on social media are acting as the sources of generating reviewers by the businesses in both the short and long run.
Factors responsible for the generation of an efficient amount of revenue from social media
Lund et al.(2018) were of the opinion that branding strategies are essential in developing content on social media sites. It has been seen that social media sites are more likely to be productive in developing a clear idea about the brand as the company is willing to showcase them. The social media sites are allowing the business to develop an image of the brand as they want. The business like Bushells with the strategic implication has full liberty to use creative contents which are in favour of the business leading to financial gain. So et al. (2018) were, on the other hand, in the opinion that the development of effective branding of the image is thus produced in enhancing the profitability of the business with the increase in the revenue generations. Gómez et al. (2019) were in views that social media is acting as the platforms that are utilized by the business experts to portray effective branding of the respective brand and gain popularity in an effective manner.
Dorfman et al. (2019) were in the view that the SEO ranking, on the other hand, is determined to play an essential role in enhancing the customer’s engagements. The higher rank in the SEO is effective in reflecting the websites posting on the search engine results page. It is thus productive in fetching the fact that the business such as Bushells is able to grab the attention of the customers. Thebuzz among the customers about the brand on social media sites are resulting in the building of positive outcomes and therefore allow the businesses to drive enhancement in the sales rate in a coherent manner.Husain et al.(2020) argue that the SEO ranking is helping to develop the maker’s position of the brand. It showcases that the brand is having a huge demand among the customers leading to the rise in revenue generation at the same time. Murthy (2018) has mentioned that the mode of communication is essential to convey the information from the sender to the recipient. In the case of social media promotions, the business such as Bushells being the sender and the customers being the receipting are able to develop a two-way intersection with the social media handles. It is effective in developing transparency and thus ensures better reliability of the customers on the brands. The profitability is therefore shaped by the marketing team of the respected brand on the social media sites in an effective manner. Pearce et al. (2020) argue that the branding strategies are easily executed without any barrier using the different social media sites. The numbers of shares and likes on the post are helpful in executing transparent views about the popularity of the brands. A positiverelationship between positive social media promotion and revenue generation is fetched. Lund et al. (2018), at the same time, put emphasis on the return of investments. The companies like Bushells are shifting to social media marketing, and it has become an essential part of brand promotion as the business is being benefited by it. It is helping the Bushells to enhance their returns of investments and thus has been effective in developing positive returns in the competitive business environment. Colicev et al. (2018) were in the opinion that the factor likes the ability to build positive relations through the different social media sites. The use of the contents and pictures that have the ability to match the preferences of the customers and thus allow the elevation of brand sales are possible using social media sites. Tajvidi et al. (2020) argued that the strong humanistic relations are positive with the numerous users across the globe with the execution of the strategic social media branding. Social media sites are emerging in recent times, and thus it is acting as an essential factor in creating revenue generation for the brands. The business like Bushells is using social media as the essential tool of promotion as it is allowing them to reach the customers easily and thus develop positive outcomes in a well-organized manner.
The arguments have been effective in outlying the different factors of social media that are enablingeffective outcomes of the Bushells and their branding strategies. It has been seen that the Bushells is able to develop an effective customer engagement and therefore allow the business to build elevation in the revenue generated in a coherent manner. The arguments are effective in developing a clear idea about the factor of social media and its role in generating revenuers in a well-organized manner in the context of Bushells.
Chaffey’s theory of social media marketing
Khamis (2018) was in the view that the one on one interaction of the brand and the customers using social media is effective in developing long term relationships that are effective in deriving financial benefits to the business. The theory argues that social media marketing has become an integral part of the online marketing world, and thus it is implicating how the consumer's conversation on the different websites are leading to the benefits of both the client as well as the organization themselves. Pour et al.(2021) critically portrayed the facts of Chaffey’s theory in executing the approaches that social media platforms are determined to develop positive outcomes in building the strategic outcomes. It therefore enables the business like Bushells to gain finical profits. Manzoor et al.(2020) were in the views that the theory on social media by Chaffy has the ability to outline how the utilization of the social media platforms have the ability to attract the attention of the customers andbenefit the business at the same time. The theory argues that the organization like Bushells adopting branding using social media handles has the ability to fetch financial benefits in a well-organized manner.
Network theory of social media marketing
Olanrewaju et al. (2020) has mentioned network theory of social media is acting as the platform the enables easy connection of the people across the globe. As the business is expanding their business in the international market, the business is seeking the help of social media sites. It is allowing the company like Bushells to develop a strong met work with its customer as leading to the enhancement of the strategic promotional measures. Vithayathil et al. (2020) argued that in competitive work when digitalization has boosted the service efficiency, it is a must for the brands to build networks so that the customers can develop an effective relationship with the brand ensuring financial gain. Gviliand Levy (2018) argued that the ability to gain returns by the brand increased when they are able to use social media to develop a strong network among the customers. It is thus productive inenhancing the ability of Bushells leading to effective results for the business despite having a tough market condition.
Kolter’s theory of social media marketing
Ibrahim (2022) was in the opinion that the as per the views of Kolter’s on social media marketing, it is a process that is effective in applying the marketing principles as well as the techniques which are effective in creating, communicating as well as delivering value in the context of brand promotions. Ahmed et al. (2019) were of the opinion that the well-organized measures utilized by the marketers in developing content are productive in positive outcomes. It ensures customers attraction leading to the development of revenue generation in a well-organized manner for Bushells. Kolter was focused on presenting how the utilizing of creativity can be done to keep the customers engaged and thus build arguments to elevate the process of generating the revenue in a well-organized manner. Laksamana (2018) was in the opinion that the marketing team needs to ensure that the strategies of marketing using social media needs to be effective enough to ensure that the influential measures are contributing towards positive outcomes with a better understanding of their targeted audiences.The influence of strategic branding on social media is influencing the targeted audiences and their behaviour and thus is benefiting the Bushellsin an effective manner.
Challenges faced in generating revenue using social media.
Al-Mohammadi and Gazzaz (2020) were in the opinion that social media promotions have both advantages and disadvantages, and thus it is a must for the business to ensure that they can reduce the level of challengers. As the medial social sites are allowing the marketing team to express their views, the fear of hurting the sentiment of the audients is high as the taste and preferences of all the audiences are not the same, so the company needs to be very careful about the content that they are selecting. The informed content might harm the sentiment of the people leading to a negative portrayal of the brand. Kizgin et al. (2020) argued that the spread of the ramous is very easy on different social media sites. It is acting as a major threat to the business, and they have to face financial loss with the drop in the sale rate at the same time. Kumar and Singh (2019) were of the opinion that the negative experiences shared by the customers act as a barrier in developing influential factors. The increase in the imaginary opinion about the brands develops an uncertainty among the customers, and they tend to shift to the rival brand leading to financial loss to the Bushells. Scholz and Smith (2019) argue that the controversies of the businesses take a huge shape as it is easily passed from one person to another, which is reducing the financial stability of the businesses.
Panigyrakis et al. (2020) were in the view that social media marketing strategies need to be as per the expectation of the customers. In most cases, as the contents are not as per the values of the customers, they are not accepted, and therefore the value of the business is questioned. This chaos might reduce the brands market position, and a string downfall in the review is evident. Raudelinien et al. (2018) criticallyargued that the customers are willing to ensure that their queries are solved. In the process of keeping a content interaction with the audiences, the business needs to hire an effective marketing team. It is at the same time contributing towards the elevation of the investment in the promotions. The experts of the marketing team can ensure provide proved the initial capital investment is done by the business. Hou (2018) was in the view that social media is allowing the rival business to know the exact strategies that the business is adopting. It is helpful in creating a transparent idea about the core strategic management used, making it easier for the competing business to adopt the same. Social media promotion is thus effective in increasing the competitive rivalry as similar businesses of Bushells seek to use similar approaches in fetching customerattention.
Lee et al. (2018) were of the opinion that the unplanned marketing strategies are not effective in attracting customers, and they end up reducing the brand image. The financial stability of the business is affected by the increase in the negative comment on posts by the brands. Bachnik and Nowacki (2018) were in the view that customers engagement is subjected to the riskof social media marketing are not executed in an effective manner.
It has been evident that the challenges of social media are high for Bushells. In the process of developing effective measures in generating the reviews, the Bushells needs to be well aware of the customers and their culture to ensure that the level of social media controversy is reduced and the business is able to develop effective measures in generating the revenue.
The secondary articles evaluated to explore an effective idea about the selected research topic include the fact that the article mostly focuses on the pros and cons of the use of social media platforms. However, very little literature is directly fetching light on the financial aspects of the organization in a well-organized manner. Thus, this paper seeks to meet the gap of the existing literature in the process of executing effective literature for the existing topic and develop the clear idea about the role of social media in generative revenuers for Bushells.
The arguments of the selected research topic have been effective in developing the fact that social media are having an excellent prospect of developing a positive image of the brands by Bushells. The use of betterunderstanding of the customers and preparing content that is as per the preferences of the customers is done. The utilization of social media in an effective manner is having the ability to generate the revenue of the Bushellsin a coherent manner.
Ahmed, Q.M., Qazi, A., Hussain, I. and Ahmed, S., 2019. Impact of Social Media Marketing on Brand Loyalty: The Mediating Role of Brand Consciousness. Journal of Managerial Sciences, 13(2).
Ahmed, Y.A., Ahmad, M.N., Ahmad, N. and Zakaria, N.H., 2019. Social media for knowledge-sharing: A systematic literature review. Telematics and informatics, 37, pp.72-112.
Al-Mohammadi, R.A. and Gazzaz, H., 2020.SOCIAL MEDIA MARKETING-THE EFFECTIVENESS AND CHALLENGES. European Journal of Economic and Financial Research, 4(3).pp.56-87
Bachnik, K. and Nowacki, R., 2018. How to build consumer trust: Socially responsible or controversial advertising. Sustainability, 10(7), p.2173.
Bhimani, H., Mention, A.L. and Barlatier, P.J., 2019. Social media and innovation: A systematic literature review and future research directions. Technological Forecasting and Social Change, 144, pp.251-269.
Colicev, A., Malshe, A., Pauwels, K. and O'Connor, P., 2018. Improving consumer mindset metrics and shareholder value through social media: The different roles of owned and earned media. Journal of Marketing, 82(1), pp.37-56. Dorfman, R.G., Mahmood, E., Ren, A., Turin, S.Y., Vaca, E.E., Fine, N.A. and Schierle, C.F., 2019. Google ranking of plastic surgeons values social media presence over academic pedigree and experience. Aesthetic surgery journal, 39(4), pp.447-451. Garcia-Morales, V.J., Martín-Rojas, R. and Lardón-López, M.E., 2018. Influence of social media technologies on organizational performance through knowledge and innovation. Baltic Journal of Management.2(3),p.66-88 Gómez, M., Lopez, C. and Molina, A., 2019.An integrated model of social media brand engagement. Computers in Human Behavior, 96, pp.196-206.
Gvili, Y. and Levy, S., 2018. Consumer engagement with eWOM on social media: The role of social capital. Online Information Review.2(3),pp.56-98
Hou, J., 2018. Integrating community and relationship building into universities' social media marketing: Implications from a case study. Contemporary issues in social media marketing, pp.31-45.
Husain, T., Sani, A., Ardhiansyah, M. and Wiliani, N., 2020.Online Shop as an interactive media information society based on search engine optimization (SEO). International Journal of Computer Trends and Technology (IJCTT), 68(3), pp.53-57. Ibrahim, B., 2022. Social Media Marketing Activities and Brand Loyalty: A Meta-Analysis Examination. Journal of Promotion Management, 28(1), pp.60-90.
Khamis, A.M., 2018. Influence Of Social Media Marketing On Performance Of Small And Medium Enterprises In Nairobi County, Kenya (Doctoral dissertation, University of Nairobi).3(2).p.65-98
Kizgin, H., Dey, B.L., Dwivedi, Y.K., Hughes, L., Jamal, A., Jones, P., Kronemann, B., Laroche, M., Penaloza, L., Richard, M.O. and Rana, N.P., 2020. The impact of social media on consumer acculturation: Current challenges, opportunities, and an agenda for research and practice. International Journal of Information Management, 51, p.102026.
Kumar, M. and Singh, N., 2019. Digital and Social Media Marketing: A Brief Study of Challenges Posed Towards Indian Advertising Industry. Digital marketing assignment AAYAM: AKGIM Journal of Management, 9(2), pp.16-20. Laksamana, P., 2018. Impact of social media marketing on purchase intention and brand loyalty: Evidence from Indonesia’s banking industry. International Review of Management and Marketing, 8(1), pp.13-18.
Lee, S.Y., Lee, J.Y. and Cho, Y.S., 2018. Framing corporate social responsibility for a controversial product. Journal of Travel & Tourism Marketing, 35(8), pp.988-999.
Lund, N.F., Cohen, S.A. and Scarles, C., 2018.The power of social media storytelling in destination branding. Journal of destination marketing & management, 8, pp.271-280.
Manzoor, U., Baig, S.A., Hashim, M. and Sami, A., 2020. Impact of Social Media Marketing on Consumer’s Purchase Intentions: The Mediating role of Customer Trust. International Journal of Entrepreneurial Research, 3(2), pp.41-48. Moro, S. and Rita, P., 2018.Brand strategies in social media in hospitality and tourism. International Journal of Contemporary Hospitality Management.2(5), p.98
Muninger, M.I., Hammedi, W. and Mahr, D., 2019. The value of social media for innovation: A capability perspective. Journal of Business Research, 95, pp.116-127.
Murthy, D., 2018. Introduction to social media, activism, and organizations. Social Media+ Society, 4(1), p.2056305117750716. Olanrewaju, A.S.T., Hossain, M.A., Whiteside, N. and Mercieca, P., 2020. Social media and entrepreneurship research: A literature review. International Journal of Information Management, 50, pp.90-110.
Olanrewaju, A.S.T., Hossain, M.A., Whiteside, N. and Mercieca, P., 2020. Social media and entrepreneurship research: A literature review. International Journal of Information Management, 50, pp.90-110.
Panigyrakis, G., Panopoulos, A. and Koronaki, E., 2020. All we have is words: applying rhetoric to examine how social media marketing activities strengthen the connection between the brand and the self. International Journal of Advertising, 39(5), pp.699-718. Pearce, W., Özkula, S.M., Greene, A.K., Teeling, L., Bansard, J.S., Omena, J.J. and Rabello, E.T., 2020. Visual cross-platform analysis: Digital methods to research social media images. Information, Communication & Society, 23(2), pp.161-180. Pour, M.J., Hosseinzadeh, M. and Mahdiraji, H.A., 2021. Exploring and evaluating success factors of social media marketing strategy: a multi-dimensional-multi-criteria framework. foresight.3(2),pp.26-98
Raudelinien, J., Davidaviien, V., Tvaronaviien, M. and Jonuška, L., 2018. Evaluation of advertising campaigns on social media networks. Sustainability, 10(4), p.973.
Robertson, J., Lord Ferguson, S., Eriksson, T. and Näppä, A., 2019. The brand personality dimensions of business-to-business firms: A content analysis of employer reviews on social media. Journal of Business-to-Business Marketing, 26(2), pp.109-124.
Scholz, J. and Smith, A.N., 2019. Branding in the age of social media firestorms: How to create brand value by fighting back online. Journal of Marketing Management, 35(11-12), pp.1100-1134.
So, K.K.F., Wu, L., Xiong, L. and King, C., 2018. Brand management in the era of social media: Social visibility of consumption and customer brand identification. Journal of Travel Research, 57(6), pp.727-742.
Tajvidi, M., Richard, M.O., Wang, Y. and Hajli, N., 2020. Brand co-creation through social commerce information sharing: The role of social media. Journal of Business Research, 121, pp.476-486.
Vithayathil, J., Dadgar, M. and Osiri, J.K., 2020. Social media use and consumer shopping preferences. International Journal of Information Management, 54, p.102117.