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Social Media for Business ΓΆ€“ A Roadmap for Strategy

Published on 27 January 15
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In these current times, it is important to focus extensively in social media for your business interests. One may need to schedule updates to social media sites regularly. Let the public become aware of the new promotions or developments in your firms and enterprises, through your social platform using web 2.0 tools and internet. Also place flashy advertisements occasionally to invoke public interest. Today the world of internet marketing and social media marketing has truly shaken all the classic theories on marketing. No longer is the classic theories of marketing important or relevant, but the emerging theories are gaining in prominence.

With these innovation in the way the world of web is interpreted, e.g. Googleâs Panda updates and Googleâs Hummingbird, the news has taken the internet marketers in a storm, by making the scenarios much more dynamic than ever. Today, everyone connected to the real world knows that the business needs to make use of social media to avail its benefits and to grow their business at an accelerated pace. Internet is a great intermediary that gives an unlimited utility by removing constraints of space and airtime for businesses to flourish. Management of business today needs even more actionable web based strategies for getting the illusive success.

With the advent of 2014, the era of computing will witness some more dramatic improvements as compared to 2013. Trends in technology are heavily banking on the developments surrounding social media enabled technologies for engaging with the key stake-holders. Many would simply have a very ambitious target for 2015. But what is interesting is the evolving focus of IT and ICT majors from large enterprises to small and medium sized businesses. So what could be the major movers and shakers for the next two years as we gear ourselves to ride this wave of technological evolution, more in terms of focus and perspective? Would it bear resemblance to an Schumpeterian market?

What would the nimble and youthful business firms like to depend upon. Typically, most of these entrepreneurial start ups would look forward to leverage the power of the internet and web 2.0 to create a substantial stake in the pie of value creation and revenue generation. Question is, whether that will invite the wrath of the bigger players? How will the real world dynamics be affected? Will the giants like Flipkart, SnapDeal and Amazon open up to such niche competition or will it be a mix of live and let live? What would the market structure and turbulence implicate with such major shake ups and structural readjustments? What exactly is the major contextual highlights we may be witnessing in this era of Schumpeterian markets. Only the future will be able to highlight to this change which may also be another bubble in the making.

About the author: Dr. A.K. Kar is a professor in management in the reputed Indian Institute of Management. He has over 30 international peer reviewed publications. He regularly blogs in Business Fundas.









In these current times, it is important to focus extensively in social media for your business interests. One may need to schedule updates to social media sites regularly. Let the public become aware of the new promotions or developments in your firms and enterprises, through your social platform using web 2.0 tools and internet. Also place flashy advertisements occasionally to invoke public interest. Today the world of internet marketing and social media marketing has truly shaken all the classic theories on marketing. No longer is the classic theories of marketing important or relevant, but the emerging theories are gaining in prominence.

With these innovation in the way the world of web is interpreted, e.g. Googleâs Panda updates and Googleâs Hummingbird, the news has taken the internet marketers in a storm, by making the scenarios much more dynamic than ever. Today, everyone connected to the real world knows that the business needs to make use of social media to avail its benefits and to grow their business at an accelerated pace. Internet is a great intermediary that gives an unlimited utility by removing constraints of space and airtime for businesses to flourish. Management of business today needs even more actionable web based strategies for getting the illusive success.

With the advent of 2014, the era of computing will witness some more dramatic improvements as compared to 2013. Trends in technology are heavily banking on the developments surrounding social media enabled technologies for engaging with the key stake-holders. Many would simply have a very ambitious target for 2015. But what is interesting is the evolving focus of IT and ICT majors from large enterprises to small and medium sized businesses. So what could be the major movers and shakers for the next two years as we gear ourselves to ride this wave of technological evolution, more in terms of focus and perspective? Would it bear resemblance to an Schumpeterian market?

What would the nimble and youthful business firms like to depend upon. Typically, most of these entrepreneurial start ups would look forward to leverage the power of the internet and web 2.0 to create a substantial stake in the pie of value creation and revenue generation. Question is, whether that will invite the wrath of the bigger players? How will the real world dynamics be affected? Will the giants like Flipkart, SnapDeal and Amazon open up to such niche competition or will it be a mix of live and let live? What would the market structure and turbulence implicate with such major shake ups and structural readjustments? What exactly is the major contextual highlights we may be witnessing in this era of Schumpeterian markets. Only the future will be able to highlight to this change which may also be another bubble in the making.

About the author: Dr. A.K. Kar is a professor in management in the reputed Indian Institute of Management. He has over 30 international peer reviewed publications. He regularly blogs in Business Fundas.

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