Salesforce As Competitor For Zoho Essay Sample For College

Introduction

This paper aims to thoroughly examine Salesforce, a leading cloud-based customer relationship management (CRM) software supplier, and its competitive environment. This analysis will explore Salesforce’s business model, external environment, internal resources, capabilities, strategies, and performance and recommend future orientations. The report’s introduction includes a brief history and overview of Salesforce’s products and business approach. Part I describes Salesforce’s external environment using Five Forces, PESTEL, and Industry Characteristics frameworks. Part II describes its internal environment using Value Chain. Part III examines Salesforce’s strategies using Porter’s Generic, Business, and Corporate Level frameworks. Part IV recommends changes using SWOT and Grand Strategy Matrices. This report thoroughly analyses Salesforce, its industry, and its competition and offers strategic insights to help the company maintain its market leadership position.

Salesforce Inc. is a cloud computing software company in San Francisco, California. Its CRM software helps firms manage customer contacts, sales, and marketing initiatives. Marc Benioff, Parker Harris, Dave Moellenhoff, and Frank Dominguez launched the firm in 1999. Salesforce’s CRM, its main product, manages customer data, sales funnels, and marketing activities for businesses of all sizes. The cloud-based software may be accessed anywhere with an internet connection and customized to match company needs. Salesforce offers marketing automation, customer service, support technologies, and CRM software.

Part I: Description of Specific External Environment Dimensions

PESTEL Analysis

Political/Regulatory

  • Data privacy regulations like GDPR impact how Salesforce operates and collects customer data.

  • Government regulations and laws can affect Salesforce’s business operations worldwide.
  • Political instability in certain countries can negatively impact Salesforce’s ability to operate in those regions.
  • Salesforce has a significant presence in the US, and changes in the political landscape could impact its business strategy and financial performance.

Economic

  • Economic conditions can impact Salesforce’s revenue and profitability.
  • Economic downturns may reduce demand for CRM solutions, affecting Salesforce’s revenues.
  • Businesses often use Salesforce’s services to increase productivity and efficiency, which economic downturns can impact.
  • Currency fluctuations can impact Salesforce’s international revenue and profits.

Socio-cultural

  • Increasing demand for personalized customer experiences drives the need for advanced CRM solutions.
  • Adopting technology and digital transformation can increase demand for Salesforce’s services.
  • A growing emphasis on environmental and social responsibility can impact sales operations and its reputation.
  • Cultural differences in different regions can impact Salesforce’s ability to enter and succeed in new markets.

Technological

  • Rapid technological advancements require continuous innovation and investment in research and development.
  • Rapid technological changes can impact Salesforce’s ability to stay competitive and relevant.

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  • AI, machine learning, and automation advances could impact how Salesforce’s services are delivered and utilized.
  • Cybersecurity threats can impact Salesforce’s reputation and cause financial harm.

Environmental

  • Salesforce must adopt sustainable practices to reduce its environmental footprint.
  • The company has committed to sustainability, which can positively impact its reputation and attract customers.
  • Climate change and natural disasters can impact Salesforce’s operations, especially in areas with significant data centers and employees.

Legal

  • Intellectual property rights and patent litigations may impact Salesforce’s operations.
  • Salesforce is subject to various regulations, such as data protection and privacy laws.
  • Intellectual property laws could impact Salesforce’s ability to innovate and protect its products and services.
  • Antitrust laws could impact Salesforce’s ability to acquire other companies and grow through mergers and acquisitions.

Demographic

  • Age- Salesforce Inc.’s products and services are primarily geared towards businesses and organizations, so the age of decision-makers and key influencers within these entities will be necessary. As the baby boomer generation retires, younger generations such as Gen X, millennials, and Gen Z become more prevalent in the workforce and decision-making positions.
  • Income and Education- Salesforce Inc.’s target market is primarily businesses and organizations with the financial resources and technical expertise to implement and use its products and services. Therefore, these entities’ income and education levels will be critical demographic factors that could impact the demand for Salesforce Inc.’s offerings.
  • Geographic Location- Salesforce Inc. operates in a global market. The demand for its products and services will vary depending on economic conditions, political stability, and cultural differences in different regions.

5 Forces

  • The threat of new entrants- The cloud computing industry is highly competitive, and the threat of new entrants is relatively high. However, the high barriers to entry, such as the requirement for significant financial resources, technological experience, economies of scale, and solid brand awareness, give existing companies like Salesforce a considerable advantage.
  • Bargaining power of suppliers- As a software company, Salesforce’s suppliers mainly comprise hardware manufacturers and data center operators. These suppliers have relatively limited bargaining leverage because Salesforce has numerous other options, and the company may quickly switch vendors.
  • Bargaining power of customers- Salesforce serves many customers, including small businesses and large enterprises. Customers have relatively considerable bargaining power because they have numerous other options in the market. However, Salesforce’s high brand awareness, customer service, and a vast range of services provide significant value to its customers, making switching to another provider difficult.
  • The threat of substitutes- The cloud computing industry constantly evolves, and new technologies and services that could potentially replace Salesforce’s offerings are continually emerging. On the other hand, the company’s strong focus on innovation and developing new products and services help it stay ahead of the competition and maintain its competitive advantage.
  • Competitive rivalry- The cloud computing industry is highly competitive, and Salesforce faces significant competition from other major players like Zoho, Microsoft, Oracle, and Amazon Web Services. On the other hand, Salesforce’s excellent brand recognition, customer service, and vast offerings provide a considerable competitive advantage, allowing it to sustain its market position.

Demand and Market Segments

CRM solutions from Salesforce are in high demand across various industries and market segments. The organization provides services to a diverse variety of sectors and market areas. Small and medium-sized businesses are one type of business served by the company. (SMBs). Salesforce offers low-cost CRM systems that are simple to use and expand with larger enterprises. The second type of business is enterprise. Salesforce provides several enterprise-level sales, marketing, customer care, and analytics applications. Nonprofit organizations are the third type. Salesforce offers solutions to assist nonprofits in more successfully managing donors, volunteers, and programs.

The fourth category is financial services businesses. Salesforce provides solutions to financial services firms to assist them in managing client relationships, compliance, and data protection. Salesforce also offers solutions to help healthcare firms manage patient relationships, electronic health records (EHRs), and clinical trials. It also serves the retail and consumer goods sector. Salesforce offers solutions that help retailers and consumer goods companies manage customer relationships, sales, and marketing. Lastly, Salesforce provides manufacturing companies with solutions that help them manage the supply chain, inventory, and customer relationships.

Part II: Salesforce Inc Internal Environment

Brief history

Salesforce Inc. leads the cloud-based CRM software market. Marc Benioff, Parker Harris, Dave Moellenhoff, and Frank Dominguez launched the firm in San Francisco in 1999 (Salesforce, n.d.). Initially, the company offered cloud-based CRM software to manage client interactions, sales, and marketing. The company went public in 2004 due to its rapid service offerings and clientele expansion. To strengthen and broaden its capabilities, Salesforce introduced the “AppExchange,” a platform for third-party applications that could be linked with its system. Heroku, Radian6, and ExactTarget were bought to expand their capabilities.

Salesforce, the world’s largest CRM provider, offers sales, service, marketing, commerce, and analytics to over 150,000 customers. Businesses may give tailored and excellent customer service using the company’s cloud-based platform’s unified picture of clients. Salesforce also prioritizes CSR. The company’s 1-1-1 concept donates 1% of equity, time, and product to charity. Salesforce.org donates Salesforce goods and services to nonprofits. Salesforce also achieved net-zero greenhouse gas emissions and is a global pioneer in corporate sustainability. The organization also emphasizes diversity, equity, and inclusion, hiring people from diverse backgrounds.

Vision and mission statements

A strategic plan’s vision and mission statements guide the company’s aims and objectives. Salesforce’s mission is “We’re committed to a sustainable future for all.” The company’s long-term goal is to help manage and conserve resources and the environment for everyone. This vision guides the company’s operations and business connections, emphasizing sustainability.

The mission statement is, “We build bridges between companies and customers. Businesses succeed when they create meaningful connection. Our mission is to deliver it” (Salesforce, n.d.). The statement describes the company’s mission and stakeholder value. The company believes that good customer-business relationships are crucial to success. Their products and services enable these connections, helping businesses grow and contribute to a sustainable future.

Describe products/services/technologies.

Salesforce Inc. provides a complete suite of products and services addressing customer management and interaction elements, assisting organizations of all sizes and sectors in improving customer experience and driving development. Salesforce’s CRM, for example, offers a complete solution for managing customer data and interactions, including sales, marketing, customer support, and analytics.

Sales Cloud is another solution that is a CRM platform intended exclusively for sales teams. It enables them to handle leads, opportunities, and deals more effectively, track performance indicators, and collaborate with team members. The service cloud, a customer service platform, lets companies provide personalized support via phone, email, social media, and chat.

The marketing cloud is a popular marketing automation tool that helps companies create, manage, and execute targeted marketing campaigns across email, social media, mobile, and web channels. Salesforce also offers the commerce cloud. It is a unified commerce platform that allows businesses to build consistent buying experiences across many web, mobile, social, and in-store channels.

Salesforce also offers Einstein Analytics, an artificial intelligence-powered platform that gives businesses real-time insights into customer behavior, sales success, and other vital metrics. Finally, there is MuleSoft. This integration platform enables companies to link their systems and applications to optimize operations and improve customer experience.

Organization culture & Leadership

Salesforce is known for its innovative, collaborative, and customer-focused culture. The company’s values, trust, customer success, innovation, and equality, guide staff conduct, and decision-making. Marc Benioff, the company’s creator and CEO is a respected thought leader. Benioff promotes “business as a platform for change” through corporate social responsibility and philanthropy.

Salesforce’s management team includes industry veterans, technologists, and business leaders. Their transparent, inclusive leadership style is well-known. Diversity, equity, and inclusion define Salesforce’s culture. Diversity and inclusion activities include employee resource groups, diversity and inclusion training, and equitable hiring.

Salesforce’s innovative products and services enable companies to engage with customers in new and meaningful ways. The company’s cloud-based software streamlines operations, boost efficiency, and promotes growth. Salesforce’s customer-centric approach emphasizes excellent customer experiences and long-term partnerships. Salesforce is dedicated to social good as well as innovation. The company’s 1-1-1 strategy, which donates 1% of its products, equity, and employees’ time to charity, has spawned a global movement of businesses giving back (Spiegel, 2020). Salesforce also champions LGBTQ+ and gender equality.

Salesforce’s innovative, team-oriented, and customer-focused culture is headed by its visionary founder and CEO. Workplace activities and collaborative Leadership demonstrate the company’s dedication to diversity, equity, and inclusion. Salesforce’s commitment to customer success and corporate social responsibility has made it a digital industry leader and social change agent.

Value chain analysis

Primary Activities Support Activities
Inbound Logistics- Procurement of hardware and software infrastructure from third-party cloud providers Infrastructure- Managing company-wide resources, legal and regulatory compliance, and data centers.
Operations- Development and maintenance of CRM solutions, PaaS offerings, and AI capabilities Human resources management- Attracting, retaining, and developing a skilled workforce.

 

Outbound Logistics- Cloud-based delivery of CRM solutions and services to customers Technology development- Continuous innovation and investment in research and development.
Marketing & Sales- Promotion of products through advertising, events, and partnerships. Procurement- Sourcing hardware and software components and negotiating contracts with cloud providers.
Service- Providing customer support, consulting services, and training resources  

Financial statements and analysis

Salesforce.com, Inc.’s fiscal years ending January 31, 2022, and 2021 are below. Salesforce’s assets, liabilities, and stockholders’ equity increased significantly, implying expansion and acquisition. Net income and comprehensive income fell despite this gain. Due to acquisition expenditures, debt, or other circumstances, the company’s profitability may decrease.

  • Total assets increased by $28,908 million from $66,301 million in 2021 to $95,209 million in 2022. This represents a significant growth of 43.6% (Salesforce, 2022).
  • The most significant asset increase comes from Goodwill, which grew by $21,619 million from $26,318 million in 2021 to $47,937 million in 2022. This suggests that Salesforce made significant acquisitions during this period.
  • Accounts receivable increased by $1,953 million, indicating increased sales and customers.
  • Total liabilities increased by $12,270 million from $24,808 million in 2021 to $37,078 million in 2022, a growth of 49.5%.
  • The most significant increase in liabilities is seen in noncurrent debt, which increased by $7,919 million from $2,673 million in 2021 to $10,592 million in 2022. This suggests that Salesforce took on more long-term debt during this period.
  • Total stockholders’ equity increased by $16,638 million from $41,493 million in 2021 to $58,131 million in 2022, a growth of 40.1% (Salesforce, 2022).
  • The most significant contributor to the increase in stockholders’ equity is additional paid-in capital, which increased by $15,318 million from $35,601 million in 2021 to $50,919 million in 2022.
  • Net income for the fiscal year 2022 was $1,444 million, significantly lower than the net income of $4,072 million in 2021. This represents a 64.6% decrease.
  • Other comprehensive income (loss) shifted from a net gain of $51 million in 2021 to a net loss of $124 million in 2022 (Salesforce, 2022).
  • Comprehensive income decreased by 68% from $4,123 million in 2021 to $1,320 million in 2022.

Consolidated Balance Sheets

Liabilities and stockholders' equity

Consolidated Statements of Comprehensive Income

https://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_CRM_2022.pdf

Stock value performance

Stock value performance

https://www.wsj.com/market-data/quotes/CRM/financials/annual/income-statement

Salesforce’s pre-market and regular trading prices have dropped. Market trends, industry performance, and the company’s financial health must be evaluated to accurately assess the stock’s performance. The 52-week range shows that the stock has gained value over the past year, despite recent swings.

The stock fell $1.06 (0.55%) to $191.49 on April 10, 2023. The stock dropped $0.61 or 0.32% to $190.88 pre-market on April 11, 2023. The pre-market volume is 2,476 shares, compared to 5,263,845 on average (The Wall Street Journal, n.d.). The stock’s 1-day range is $189.28–$192.55. Its 52-week range is $126.34–$201.12. The store achieved $126.34 and $201.12 on December 22, 2022. The stock has gained value over the past year despite trading below its 52-week high. The stock has seen short-term volatility, but the more extended patterns should be considered when assessing its performance. Industry performance and corporate finances should also be considered.

Part III: Strategies for Salesforce Inc.

Business level strategy

Salesforce Inc. should focus on cloud-based CRM solutions. Research and development help the organization stay ahead and provide better services. Salesforce could also consider expanding its product line to reach more sectors and markets. Acquiring or partnering with complementary companies is one option. Salesforce may expand its portfolio and market position with this technique. By innovating and expanding its product portfolio, Salesforce can remain a top cloud-based CRM supplier.

Corporate level strategy

To maintain its development trajectory, Salesforce Inc. should prioritize extending its global footprint and boosting its market share. One strategy is to form strategic alliances with other organizations to broaden its customer base and offer a more comprehensive portfolio of offerings. Another method is diversifying its revenue streams and lessening reliance on any area by exploring new markets and industries. To achieve these objectives, Salesforce must focus on building its brand reputation as a trusted partner for businesses of all sizes. The organization may deepen its relationship with existing clients and attract new ones by portraying itself as a reliable provider of cloud-based technological solutions. Overall, Salesforce can continue to drive development and secure its position as a leader in cloud-based technology by prioritizing expansion, strategic alliances, diversity, and brand reputation.

Use of BCG matrix

The BCG matrix helps Salesforce Inc. evaluate its product portfolio and make strategic investments (Martin, 2019). CRM, Salesforce’s core product, can generate the most revenue due to its market share and profitability. Salesforce must invest in R&D to keep its CRM system competitive and meet client needs. Salesforce’s products, such as Marketing Cloud, Commerce Cloud, and Service Cloud, are still growing and may need to be more lucrative. Salesforce should invest in these products and improve their market share to make them “stars.”

Salesforce is still integrating Slack into its products, making the acquisition a “question mark.” Slack might become a “star” product if Salesforce can integrate and utilize its capabilities to improve its products. It must invest in R&D to sustain its CRM market leadership. Salesforce should also invest in “question mark” items to turn them into “stars.” Slack might become a “star” if Salesforce integrates it well.

Part IV: SWOT Analysis and Recommendations

SWOT Analysis

Strengths Weaknesses Opportunities Threats
Market leader in the CRM industry with a dominant market share High pricing, making it less attractive for small and medium-sized businesses Expansion into emerging markets Intense competition from established players like Microsoft, Oracle, SAP, and Zoho
Comprehensive and innovative product offerings. High debt-to-equity ratio Developing more industry-specific CRM solutions Rapid technological advancements requiring continuous innovation
Strong financial performance and resources Increasing operating expenses Leveraging artificial intelligence (AI) and machine learning (ML) capabilities for product enhancement Economic downturns reducing demand for CRM solutions
The global presence and large customer base The complexity of product offerings leads to a steep learning curve for customers. Strengthening data privacy and security measures to comply with global regulations Regulatory changes and data privacy concerns affecting operations
Strategic partnerships and acquisitions

The SWOT analysis highlights Salesforce’s strong position as a CRM sector market leader, with a dominant market share and comprehensive, innovative product offerings. Salesforce has been able to deliberately create partnerships and make acquisitions to increase its standing because of its solid financial performance and resources, worldwide presence, and enormous client base. However, high prices and a high debt-to-equity ratio provide issues since the former may dissuade small and medium-sized enterprises from using Salesforce, while the latter suggests financial danger. Furthermore, rising operating costs and product complexity contribute to a steeper learning curve for clients, which may lead to dissatisfaction.

Salesforce has several opportunities, including expanding into emerging markets and developing more industry-specific CRM solutions, catering to a broader array of businesses. Leveraging AI and ML capabilities could enhance its product offerings and improve efficiency. Additionally, by strengthening data privacy and security measures, Salesforce can ensure compliance with global regulations and build customer trust.

Despite these opportunities, Salesforce faces significant threats, including intense competition from established players like Microsoft, Oracle, SAP, and Zoho. Rapid technological advancements necessitate continuous innovation to stay ahead, while economic downturns may reduce demand for CRM solutions, negatively impacting sales. Lastly, regulatory changes and data privacy concerns can affect Salesforce’s operations, making it imperative for the company to stay abreast of these issues and adapt accordingly.

SWOT Matrix

Strengths Weaknesses
CRM market leader Emerging Markets
Innovative product offerings Industry-specific CRM solutions
Strong Financials AI and ML
Global Presence Data security and security measures
Partnership and Acquisitions
Weaknesses Threats
High pricing Intense competition
High debt-to-equity ratio Technological advancements
Operating expenses Economic downturns
Product Complexity Regulatory changes
Data privacy concerns

Recommendations

Salesforce may improve operations with these SWOT analysis ideas. To attract and retain customers, the corporation should rethink its price strategy. Salesforce’s tiered pricing plans are more affordable for small and medium-sized businesses. Second, Salesforce must lower its debt-to-equity ratio to lessen financial risks and stability. Refinancing, cutting costs, or raising revenue can do this. Salesforce may improve its finances and market position by following these suggestions. It can also attract and retain more customers, which can help the firm expand and succeed.

Another suggestion is to streamline product offers. Salesforce should invest in user experience, interface improvements, and comprehensive training and support services for customers to solve the steep learning curve associated with complicated product offerings. Salesforce could also grow into emerging markets and build industry-specific CRM solutions, allowing the company to cater to a broader range of enterprises and boost market share.

Salesforce should also begin to use AI and machine learning. Integrating artificial intelligence and machine learning capabilities into its goods has the potential to improve their efficiency and efficacy. This would allow the organization to keep ahead of the competition while also meeting the changing needs of its customers. Salesforce could improve data privacy and security as well. Measures. As data privacy concerns rise, it must prioritize enhancing its security measures to protect customer data and comply with worldwide legislation. This would not only reduce potential hazards but would also increase client trust in the brand.

Finally, Salesforce should think about ongoing innovation and adaptation. To handle the dangers posed by rapid technological breakthroughs and regulatory changes, it should cultivate a culture of constant innovation, maintaining current with industry trends and modifying its products and services accordingly. Salesforce can preserve its position as a market leader in the CRM business by implementing these recommendations while correcting its flaws and capitalizing on possibilities for development and success.

Competitor Framework Table and Implications

Factors Salesforce Zoho
Company Overview Cloud-based CRM software company founded in 1999 A cloud-based software company founded in 1996
Market Share Dominant market leader Smaller market share but growing presence
Product Offerings Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Einstein AI, Force.com Zoho CRM, Zoho Desk, Zoho Campaigns, Zoho Projects, Zoho Analytics, Zoho One
Pricing Higher pricing, targeting large enterprises Competitive pricing, targeting SMBs & enterprises
Innovation Strong focus on innovation and acquisitions Consistent innovation with a wide range of apps
Financial Performance Strong revenue growth, increasing net income, high debt-to-equity ratio Privately held, financial data limited, known for stable growth & profitability
Customer Base Large, global customer base Diverse global customer base, growing rapidly
Geographic Presence Global presence with a focus on North America and Europe Global presence, increasing focus on emerging markets
Partnerships and Alliances Strong strategic partnerships and acquisitions Growing partnerships and integrations
Corporate Culture Innovative, customer-centric, socially responsible Employee-centric, innovative, and agile

The comparison reveals that while Salesforce has a dominant market position, Zoho offers competitive pricing and a wide range of solutions. One key implication for Zoho is to continue to provide cost-effective, innovative solutions to attract customers from Salesforce and other competitors. Another sense is for the company to enhance product offerings and consider strategic partnerships to match Salesforce’s comprehensive solutions. Lastly, Zoho should invest in marketing efforts to increase brand awareness and challenge Salesforce’s market dominance.

References

Martin, M. (2019, September 13). What is a BCG matrix? Businessnewsdaily.Com. https://www.businessnewsdaily.com/5693-bcg-matrix.html

Salesforce. (n.d.). Our Story. Salesforce. Retrieved April 11, 2023, from https://www.salesforce.com/company/our-story/

Salesforce. (2022). Salesforce FY22 Annual Report The Power of Together.

Spiegel, S. (2020, January 22). How far can the 1-1-1 model go? This tech darling has a unique approach – Salesforce News. Salesforce. https://www.salesforce.com/news/stories/how-far-can-the-1-1-1-model-go-this-tech-darling-has-a-unique-approach/

The Wall Street Journal. (n.d.). CRM. The Wall Street Journal. Retrieved April 11, 2023, from https://www.wsj.com/market-data/quotes/CRM/financials/annual/income-statement

Social Media Marketing Essay Example For College

Introduction

Marketing entails an array of company activities related to buying and selling a product or service, such as advertising, delivering items to customers, and offering a service. Technology expertise and global competition have advanced the promotion of marketing initiatives. As a consequence, digital marketing methods, social media use, and mobile applications are gradually growing in popularity. Accordingly, data and analytics are of the utmost importance to strategists and analysts alike, as they enable them to hone targeting and explore new methods of connecting with customers (Adner et al. 2019). In addition, customer information can be used to comprehend preferences and needs. Furthermore, multi-channel campaigns have emerged, engaging clients through various media outlets. Additionally, AI is taking a prime place in the marketing world, enabling strategic optimisation and personalisation of promotional messages through targeted segmentation. This paper will look into social media marketing and ethics as well as how it relates to NEXT company.

Social Media Platforms

The growing power of social media has caused businesses to start implementing it in their marketing strategy. Platforms like Twitter, Instagram, and LinkedIn can elevate visibility, attract more followers, and enable companies to comprehend what their consumers want (Enacica, 2022). Companies now want to maximise the advantages of powerful outlets like Facebook, YouTube, Snapchat and Pinterest to detect their preferred patrons, boost viewership and expand.

To create an effective social media marketing strategy, companies must first understand the different platforms and the types of posts that work best on each. For instance, YouTube is ideal for hosting videos, while Instagram is suitable for displaying visuals (Enacica, 2022). Organisations must assess the various options accessible to them, including sponsored posts and display ads, as they are instrumental in offering their followers an exciting experience. Besides, the utilisation of social media marketing has made it necessary for businesses to guarantee their activities follow regulations regarding data protection and privacy (Jacobson et al., 2020). Companies should always prioritise transparency and disclosure when dealing with their followers and keep an eye on the material they give out to ensure it meets the applicable regulations.

In addition to providing companies with an effective and cost-efficient way to advertise their products and services, social media also allows them to measure their performance and track the success of their campaigns. Companies can use analytics and metrics to get insights into their followers’ engagement and make informed decisions about their strategies.

Strategies for Social Media Marketing

The importance of strategically identifying the right platforms for social media marketing cannot be understated. Without the correct placement, companies may face low ROI and wasted resources. Numerous studies have examined the effectiveness of social media marketing across different platforms (Jacobson et al., 2020). For instance, research conducted by Mckinsey & Company demonstrated that campaigns run on social media can lead to a boost in traffic by 33%, double the customer engagement rates and even triple the online customer conversions rates (Koel, 2018). This emphasises the importance of using the right platform, as it will maximise ROI and ensure that the target audience is reached.

User-generated content is known to be a great asset in acquiring a more loyal audience. The research speaks for itself: customers should be encouraged to generate content, resulting in increased outreach and engagement. This is especially notable on the Instagram platform, with nearly two-thirds of the Youth claiming they would trust their peers over celebrities or branded accounts. Furthermore, user-generated content incites further interaction, which leads to a mutual relationship between businesses and customers, creating a foundation of trust and providing additional exposure for the brand. With its promise of loyalty, human-driven content is the clear choice when it comes to business visibility.

To effectively hook an audience and increase engagement, a company needs to create content that is both fascinating and pertinent to the intended recipients. Utilising an array of formats, like photographs, videos, inquiries, accounts and live streams, introduces diversity and maintains an interesting dialogue. Content must remain relevant, offering users effective guides and resources. This will foster trust in the company as a reliable and knowledgeable source, as well as raise engagement. In other words, make perplexity and burstiness your goal for successful content creation.

To sum up, effective social media marketing requires an effective strategy in order to identify the right platform, acquire an audience and engage with customers. Companies should use targeted content, user-generated content and varied content formats in order to increase customer reach, growth and engagement. Research suggests that this is an effective way to maximise ROI and increase brand recognition.

Social Media Advertising

Businesses have shifted to using social media platforms more frequently to promote their products due to the numerous advantages it presents. By leveraging the broad reach of these platforms, companies are able to invest profitably in cost-effective campaigns with the potential for high levels of returns. This utilisation of such technology has significantly ballooned in recent times.

Advertising on social media involves the development of strategies tailored to target specific audiences on various platforms. Three main types of ads are prominent in this sphere; sponsored content promoted posts, and display ads (Enacica, 2022). Direct ads are also used here. Companies must choose the preferable type of ads and platforms to ensure their target audience is reached. Nevertheless, businesses recognise the power of social media when it comes to advertising and how the cost involved is much less when compared to more traditional approaches, which attract higher costs (Enacica, 2022). Additionally, businesses can target specific demographics and identify the most suitable platform and posts for them. As such, social media has become an integral part of many marketing campaigns.

Businesses that choose to advertise on social media should take into account their ethical responsibilities (Mason et al., 2021). Crafting an effective social media marketing plan requires recognising the type of content that will best resonate with the desired audience. Thus, it is paramount for companies to be aware of the implications when opting for this approach. Delivering an impactful ad campaign requires pinpointing the right posts and suitable platforms. Thoughtful consideration of such factors will ensure that businesses can capitalise on the enormous potential of social media marketing and maximise success (Mason et al. 2021). Businesses must understand their target audience’s preferences, interests and behaviours in order to create content tailored to their specific needs. Additionally, according to Adner et al. (2019), effective use of analytics allows businesses to track performance, key metrics and conversion rates, as well as improve their campaigns over time.

The meteoric rise of social media platforms as a viable marketing option has created an opportunity for businesses to expand their horizons and explore new avenues of customer engagement and revenue generation (Troise and Camilleri, 2021). By carefully selecting the right communication channels, targeted messaging, and promotional campaigns, businesses can leverage social media as a powerful tool to reach their specific audience and realise an optimal financial return on their investments (Troise and Camilleri, 2021). Research examining the efficacy of social media advertising for businesses has mainly been supportive of its capacity to foster visibility, increase sales and attract new customers. Nonetheless, studies have raised the issue of the potential for social media platforms to propagate false information and create mistrust. These observations necessitate the consideration of ethical issues concerning social media advertising before developing a strategy.

Research has demonstrated that the utilisation of social media is linked with the propagation of detrimental ideologies, the perpetuation of destructive stereotypes, and the spreading of false reports. Such an occurrence was evident in the way political promotion was bolstered through false information and untruths, culminating in social detriments such as public sluggishness and undermining of political competitors (Adner, 2019). It is from this that the importance of implementing ethical practices when constructing a plan for social media commercialism becomes undeniable.

Businesses need to be mindful of the risks of disseminating inaccurate or deceptive information when formulating a social media marketing plan (Hilary and Dumebi, 2021). Maintaining customer loyalty and confidence is contingent upon the truthfulness and accuracy of all content produced. Similarly to this, companies should consider essential ethical issues, including the privacy of data, openness and disclosure in the progression of their social media strategy (Hilary and Dumebi, 2021). It is pivotal these organisations show consideration towards these matters to harness the most advantageous platform for advertising.

Analytics

Analytics are key to a successful social media marketing campaign. Through analytics, companies can track the progress of their campaigns, understand the performance of their posts and track the metrics that matter most to their business.

Businesses that actively analyse their performance on social media have the potential to optimise their strategies in meaningful ways. Gathering such data can provide valuable insights into a company’s customer base and effectively boosts customer engagement, leading to more robust relationships with the target audience (Terho et al., 2022). There are many analysis tools available that can aid businesses in their decisions making. For example, Google Analytics offers useful metrics which can help understand how campaigns are progressing, while Hootsuite can provide analytics, alerting and reporting all in one. With the right analytics tools, companies can make informed decisions to better improve their campaigns and benefit their needs (Terho et al., 2022)

Research has revealed that understanding customer behaviour on social media platforms is critical for businesses. By leveraging analytics, companies can gain insights into the content types that generate the most engagement with their target demographic. These data-driven insights can assist companies in developing more effective communication strategies that optimise engagement.

In addition, Analytics can provide business owners with great insight into the success of their marketing campaigns. It can determine the effectiveness of influencer campaigns and even track conversions that come from their promotion (Sivarajah et al., 2020). With analytics, companies can track their progress, adjust strategies, and better understand their target audience. In addition, analytics can help identify potential partners and ambassadors who can boost their brand by raising awareness and driving more leads and conversions. It is also useful in detecting any suspicious activity or fraudulent behaviour, thus providing the business with peace of mind and protection. Analytics, when used wisely, can greatly benefit businesses (Sivarajah et al., 2020).

Overall, using analytics for social media is an essential part of any successful marketing strategy. It allows companies to gain valuable insights into customer behaviour and optimise their campaigns for maximum returns. This way, companies can build better relationships with their target audience and increase their customer base.

Ethics

According to Kalyanpur and Newman (2019), the previous expansion of social media usage in the marketing sector has prompted increased Companies not just have the duty to uphold their customers’ data safety and security; they are also obligated to make sure they keep to regulations set out by the official regulatory establishments. In the UK, the Data Protection Act of 1998 asserts firms must be explicit on the means by which private information is collected and employed (Aho and Duffield, 2020). Simultaneously, organisations must formulate internal protocols for preserving this data. Consequently, enterprises must be conscious of their ethical obligations and adhere to legislation for data security.

According to Felzmann et al. (2019), transparency and disclosure are also important elements of ethical regulations. Companies must clearly disclose to their customers how their data will be used and should provide an opt-out option if they choose not to receive any communications. Furthermore, businesses should also be aware of the potential consequences of dishonest marketing tactics, as this can damage their reputation.

Businesses must take into account ethical considerations when monitoring their content (Munoko et al., 2020). This includes removing any inaccurate or deceptive information from promotional materials and ensuring that the content does not breach any applicable legislation. In the United Kingdom, the Broadcasting Code requires businesses to avoid broadcasting anything that might be deemed damaging or offensive. Additionally, the Advertising Standards Agency demands companies adhere to various age-specific standards (Munoko et al., 2020). Keeping up with these regulations is key to upholding corporate standards and generating positive results from a campaign. Importantly, neglecting the ethical implications of the content may lead to a lower brand reputation and have catastrophic outcomes.

Generally, any organisation engaged in commercial marketing activities should follow the rules, regulations and ethics established by the supervising bodies. Companies need to be open about how the customer data is going to be used, for example, concerning targeted advertising, and ascertain the accuracy of their messaging (Gupta et al. 2021). Managing this transparently contributes to a business’s reliability and public loyalty. Racing with accepted standards and making sure not to provide misleading information will help protect the integrity of the firm and its reputation. Furthermore, it gives users confidence in the brand (Gupta et al. 2021). It is essential for companies to meet ethical standards to succeed in this dynamic marketplace.

Part 2

Case Evaluation

Standing as one of the leading UK retailers, NEXT has an established physical presence with over 500 stores (Zhang et al. 2021). In addition to this, the business has ventured into the digital world, investing significantly in its e-commerce platform and its presence across different social media outlets, such as Facebook, Twitter, Instagram and YouTube. Consequently, NEXT has attained a notable ubiquity throughout the British Isles. With its innovative marketing campaigns, the brand is continuously evolving, ensuring that it remains within the competitive landscape. Consequently, they have become a point of reference for high-street fashion and furnishings.

The company’s main purpose on social media is to promote its products and increase brand awareness. While NEXT uses the platforms to showcase its products, it also engages with its customers to build strong relationships with them (Zhang et al. 2021). On Instagram, NEXT utilises popular influencers to advertise its products. These influencers are carefully chosen, as they are often seen to have strong ties with their followers. Facebook, Twitter and YouTube involve creating engaging content, such as product reviews and exclusive offers to draw in customers and drive sales.

NEXT’s social media marketing strategy has seen them gain a large customer base, elevated brand recognition and increase in sales (Dolega et al. 2021). To do this, NEXT has leveraged its presence on multiple platforms, maximising the potential of each to promote its products and engage with its customers.

To ensure their campaigns are successful, NEXT has focussed on boosting brand visibility by using targeted ads, sponsored posts and influencer collaborations, as well as creating engaging content formats such as images, videos and stories (Dolega et al. 2021). This content has been carefully tailored to the target customers and their preferences, allowing for an engaging experience.

Furthermore, NEXT has nurtured and maintained strong connections to its patrons via various social media outlets, including Twitter, Instagram, and Facebook (Mathur, 2020). The feedback rendered by their customers has proven to be a valuable asset for NEXT to enrich their goods and offerings and modify their approaches. As well, the organisation has obliged to abide by and observe ethical mandates, such as the standards of safety and disclosure, in order to make sure their endeavours meet the pertinent legal criteria. As a result, NEXT’s social media marketing strategy has been successful in helping them increase their customer base, elevate brand recognition and boost their revenue (Mathur, 2020).

NEXT has taken the ethical implications of its social media presence seriously. The organisation implements a detailed privacy policy outlining the diverse standards by which private data is collected and stored. Moreover, to guarantee that all advertising abides by UK law, the company has established and enforced various regulations. Furthermore, to ensure customer safety from likely offensive media, the business has committed to making no content of advertising inherently offensive.

NEXT company is highly invested in maintaining ethical and legal standards on their social media channels. To ensure this, they observe the comments continuously for any possible inappropriate language and reply to any complaints or questions their customers make quickly (Li et al. 2021). Furthermore, they exercise caution while promoting content to ensure they provide quality information that their target consumers would find beneficial without any attempt of manipulation. Through these endeavours, NEXT ensures that its platforms remain morally and legally sound.

Generally, NEXT has been effective in utilising social media for marketing purposes. The company has effectively used its presence on various platforms to promote its brand and products, engage with its customers and increase its sales. NEXT has also been mindful of the ethical responsibilities associated with social media, ensuring that its activities are compliant with the relevant regulations.

Communication Plan

NEXT’s social media marketing strategy will focus on leveraging its presence on multiple platforms to increase visibility, customer engagement and sales. In order to do this, it is essential to have a comprehensive communication plan that is tailored specifically to each platform.

To begin with, NEXT will develop relevant content for its followers on Facebook, Twitter and YouTube. Engaging visuals, exclusive offers and product reviews will be used across all platforms to create a strong and consistent brand presence (Lee and Yuon, 2021). Moreover, the company will run sponsored posts on these platforms to further extend its reach.

NEXT has strategically chosen Instagram as an outlet for featuring its product photography and campaigns. Moreover, the corporation has zeroed in on prominent influencers to develop and share content with their audiences in an endeavour to inspire confidence in its services and wares (Lee and Yuon, 2021). Putting diversity and complexity front and centre, NEXT endeavours to create an engaging and stimulating social media platform.

Finally, retargeting campaigns will be run on all platforms to target potential customers who have already expressed an interest in the brand’s products and services. These campaigns will be tailored to suit their interests and engagement levels to optimise the effectiveness of the retargeting efforts.

This communication plan is intended to leverage NEXT’s presence on multiple social media platforms in order to boost visibility, increase customer engagement and drive sales. It endeavours to create content which resonates with the company’s target audience and promote the brand in a way which is both authentic and profitable. If executed correctly, this plan will help NEXT to increase its customer base, brand recognition and revenue.

Conclusion

In conclusion, Organisations looking to expand their client base as well as advertise their products and services can immensely benefit from utilising social media marketing. Platforms, including Facebook, Instagram, Twitter, and YouTube, allow businesses to easily and economically target their ideal viewers. However, to construct an effective proposition, businesses will have to identify the most appropriate site, produce content appropriate to their goal and review analytics to measure crucial data. Variation in sentence complexity and length is crucial in conveying this message with clarity and attention to perplexity and burstiness.

NEXT’s social media marketing strategy has been successful in helping them increase their customer base, elevate brand recognition and boost their revenue. To do this, they have leveraged their presence on multiple platforms and used tactics such as sponsored posts, influencer collaborations and retargeting campaigns. In addition to this, NEXT also ensures that its activities adhere to all relevant ethical regulations and codes in order to protect its customers’ data, safeguard its brand reputation and maintain public trust.

References

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Aho, B. and Duffield, R., 2020. Beyond surveillance capitalism: Privacy, regulation and big data in Europe and China. Economy and Society, 49(2), pp.187-212.

Dolega, L., Rowe, F. and Branagan, E., 2021. Going digital? The impact of social media marketing on retail website traffic, orders and sales. Journal of Retailing and Consumer Services, 60, p.102501.

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Gupta, S., Justy, T., Kamboj, S., Kumar, A. and Kristoffersen, E., 2021. Big data and firm marketing performance: Findings from knowledge-based view. Technological Forecasting and Social Change, 171, p.120986.

Hilary, I.O. and Dumebi, O.O., 2021. Social media as a tool for misinformation and disinformation management. Linguistics and Culture Review, 5(S1), pp.496-505.

Jacobson, J., Gruzd, A. and Hernández-García, Á., 2020. Social media marketing: Who is watching the watchers? Journal of Retailing and consumer services, 53, p.101774.

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Social Perspectives On Aging Writing Sample

The term “social aging” alludes to changes in people’s responsibilities and social interactions as they age. Social aging and perspectives on aging vary across cultures and over time. Although the sociology of aging concentrates mainly on later life, it is based on the idea that aging is an ongoing process of growing up and getting older. To comprehend how old age develops, one must consider the complete life course leading to old age. Although biochemical and psychological factors influence the aging process throughout life, a sociological viewpoint adds to our knowledge of aging by explaining how social, political, and economic factors affect the aging process. Aging is socially created to a far greater degree than is generally acknowledged. This implies that the established societal structures people meet throughout their lives influence their age. Adults’ perceptions of aging have significant repercussions on their health and well-being. While generations are not naturally cohesive and separate units, they are socially situated since social settings vary over time, which means that being a human in one period is not the same as being a human in another (Fletcher, 2021). Humans within a particular era have a spectrum of possible experiences, exposing them to specific ways of emotions, thoughts, and behavior.

According to Fletcher (2021), the standard theories of action and disengagement ultimately establish the factual significance of age. According to disengagement theory, older life is when elderly individuals withdraw from society, renouncing prestige and responsibilities and beginning a time of inactivity that benefits both them and the community. On the other hand, activity theory claims that older people should fight withdrawal by engaging in activity, guaranteeing an excellent later age. Notably, both theories identify age as a social categorization deserving of sociological consideration. Today, it is impossible to imagine a sociology of aging that does not use age’s analytic position. Fletcher points out that the rise of the aging sociology indicates late-nineteenth and early-twentieth-century population change, especially in quickly urbanizing and industrializing contexts where older adults made up increasing numbers of people experiencing poverty. As a result, age became a significant societal worry as it became widely linked to poverty, particularly in light of rising state obligations to public wellness and safety.

To learn how social forces affect aging, scholars Compare the aging experiences of various age groups and various demographic components (based on gender, social class, and race/ethnicity). Also, a comparative study across cultures is another method for examining how context influences aging. Therefore, this paper investigates how different social factors, including gender, class, and race, influence aging. For instance, in a study focusing on the United Kingdom, Fletcher (2020) highlights that the United Kingdom is one of the most age-segregated nations due to various social and economic variables, including property and urban-rural division. The article points out that socioeconomic age factors influence political preferences.

Firstly, Political views in the United Kingdom have always been strongly linked to class (Fletcher, 2021). In a nutshell, the Republicans have been the faction of middle- and upper-class people, while Labor has been the party of the salaried voters. This pattern continued through the wartime years and into the general election in 2010. Fletcher states that as the link between class and choice has diminished, the link between age and preference has grown stronger. Throughout the 2010s, the age segregation of voting patterns increased to the point that age was among the most robust connections between traditional socioeconomic factors and political views. As the link between age and partisanship has grown stronger, while class associations have weakened, partisan analysts have spread the idea that age is now the main factor in British politics. Many have asserted that age is a new class.

Moreover, Fletcher (2021) states that the increasing percentage of individuals pursuing higher education is critical for comprehending age-group characteristics, political preferences, and interrelationships. Higher schooling is linked with more left-wing political views, and being enrolled full-time is an even stronger forecaster. For instance, in the 2019 general election, less than half of the electorates who had attained university level supported the Conservatives, while more than half who had below A-level education supported the Liberal Democrats. The rationales for these correlations are linked to the premise that individuals from Democratic families are more likely to seek higher education while children from autocratic families are less likely to seek learning and are more likely to be repressive; intellectual capacity is favorably related to both freedom and educational achievement, Higher education fosters private safety, which fosters empathic values, and practical elements of higher education foster liberal values, whether through contact with novel individuals or brainwashing by liberal-minded instructors. Because of the growth of higher education, younger people are more likely to be highly educated than older adults, with the young accounting for most university students.

Another social perspective is the disparity in rural-urban aging. The legal age of inhabitants rises in villages and municipalities while remaining constant in cities. Also, the proportion of individuals over 65 to those under 65 rises in rural areas but falls in bigger cities and towns. This tendency is aided by the growth of university education, as joining trainees constitute one-fifth of all domestic migration (Fletcher, 2021). In terms of housing, three-quarter of individuals aged 65 and up own their house, compared to a quarter of 25-34-year-olds.

Race is another social factor influencing the aging process. To understand this context, Ailshire & Carr (2021) conducted a comparative cross-national study to asses the socioeconomic factors affecting health and wellness, especially in older individuals. The authors discovered that China has the lowest frequency of healthy aging, while Japan and Korea have the greatest. Individual-level variables did not explain country-level variations, implying the significance of macro-level factors such as financial circumstances and healthcare systems that vary significantly across nations. For example, employment is one context that varies significantly by nation and has been recognized as a significant element influencing aging outcomes. Using harmonized life history data to investigate unfavorable job events over the life cycle and their association with mental and physical health among older people in Europe and England, scholars discovered that older people who experienced job insecurity and discrimination between 25 and 50 years had poorer health later in life. Despite considering the importance of national labor policy, they found no proof that it was associated with poor health results in older age. The authors also revealed variations in effective aging across these states’ rural and urban regions.

Cognitive impairment is among multiple health effects in older people that likely started earlier in life. Research using the United States and England data looked at the effect of socioeconomic status from childhood to maturity on cognitive performance trajectories in later life. In both nations, they discovered that older people with more early-life social and economic advantages had better levels of mental ability. In England, more excellent childhood socioeconomic status was linked with a lower rate of memory loss. The connection between early-life conditions and later-life cognitive performance is mainly explained by adult socioeconomic variables such as school achievement and income (Ailshire & Carr, 2021). Even after accounting for adulthood socioeconomic variables, childhood socioeconomic status is linked with cognitive performance among the elderly.

Another study conducted among older adults in the United States and 18 European countries to assess the length to which family caregiving is related to dying in a hospital or care home rather than in their own homes discovered that older adults who received care from a family member were more likely to die at home and concluded that the availability of informal care is a critical factor in determining the place of death. They also looked at the significance of family caring across systems characterized by the national level of charity for long-term care. They discovered the correlations held across various country settings (Ailshire & Carr, 2021). Therefore, family-based care is inherently essential at the final phase of life, and policies geared at easing dying and death should prioritize families. Furthermore, although women and men have an equal threat of entering a nursing home based on data from surviving respondents, women have a reduced risk of nursing home entry than men based on end-of-life polls on hospitalization two years before death.

Additionally, Schwartz et al. (2021) study to untangle the reciprocal relationships between social engagement and perceptions of aging discovered proof of an inverse correlation between informal involvement and favorable initial perceptions of aging, such that people with positive initial perceptions of aging became more informally socially engaged, and people who were more informally involved expressed better views of their aging process. Moreover, more positive attitudes toward aging indicated a greater chance of participation in organizations and groups over time. These patterns held for both middle-aged and older people. Their results showed that people’s perceptions of their aging could influence their social participation. Consequently, being more optimistic and feel better about one’s aging can lead to increased emotional support and informal advice to others and increased involvement in organizations and networks.

Therefore, the aging process includes the interaction of psychological, biological, and societal factors. Also, aging is a philosophically fascinating phenomenon since, while it is a nearly inevitable encounter, it occurs within a wide range of varied and intricate social and interpersonal contexts, including health status, socioeconomic alignment, access to financial resources, geographical location, ethnicity, and gender.

References

Ailshire, J., & Carr, D. (2021). Cross-National Comparisons of Social and Economic Contexts of Aging. The Journals of Gerontology. Series B, Psychological Sciences and Social Sciences, 76(Suppl 1), S1–S4. https://doi.org/10.1093/geronb/gbab049

Fletcher J. R. (2021). Age-associations in British Politics: Implications for the Sociology of Aging. The British Journal of Sociology, 72(3), 609–626. https://doi.org/10.1111/1468-4446.12820

Schwartz, E., Ayalon, L., & Huxhold, O. (2021). Exploring the Reciprocal Associations of Perceptions of Aging and Social Involvement. The Journals of Gerontology. Series B, Psychological Sciences and Social Sciences, 76(3), 563–573. https://doi.org/10.1093/geronb/gbaa008