Assignment 3 Essay Example | Topics and Well Written Essays - 1750 words

Assignment 3 - Essay Example The point of view being taken from the individual is purely through a profit or money-making mindset. Concerns such as data security and data storage are literally thrown out the window, as social media is purely seen as a selling point for companies and individuals alike. Using social media for the affable and leisurely means of communication across transnational borders for family and friends is not in the mindset of the individual in the aforementioned conversation. The notion of making money while you sleep has been discussed widely in internet marketing and social media marketing circles throughout the past decade; so much so that individuals coming into the profession of social media marketing are led to believe that they too can make money while they literally are asleep. Yet there are a number of facets, both moral and ethical, that must be considered when using individual data from social networks for the purpose of advertising through social media networks. How would custom ers react if, whilst completing their online banking, they were to see an advertisement pop-up offering a meal discount at the latest restaurant they went to? Undoubtedly customers could become a bit finicky when they begin to realise their spending habits are not only being tracked, but are actively used to further promote additional products and services. People hate to be sold, yet a pop-up on a customer’s screen may just be the trigger to earn even more money from them. According to data obtained from the World Bank on worldwide internet users (â€Å"Internet users as percentage of population,† 2012) 32.77% of the world’s population is now using the internet. All people of the aforementioned percentage would be interacting with some form of social media, whether it is Facebook, Twitter, MySpace, Google, Yahoo, and so on. The potential of advertising through such mediums in an effective and visually aesthetic way is unfathomable. College dropouts are turning into overnight internet multimillionaires as they are beginning to understand the power of social media marketing. The golden years of elderly experienced working hard for one’s money by working 10, 12, 14 or even 16 hours per day has been replaced with young moguls, who with a keyboard, a mouse and internet access have the capabilities to begin running their own online business from the comfort of their own home with no prior qualifications or experience required. Evans (2010) states individuals are able to develop the use of social media marketing more than just by selling and promoting: it is through the use of effective â€Å"dream-like† visualisation from the business owner to the prospective buyer which will entice them to purchase a particular product. Today, entrepreneurs have taken quickly towards information selling and using social media as a form of exponentially increasing their brand awareness. Where previously, word of mouth was predominantly seen as a b usiness’ driver in future sales, today it is simply the click of a â€Å"Like† button on Facebook, or a photo or instant â€Å"tweet† to friends on Twitter which will determine the success and viability of a company. Business owners will also need to embrace social media marketing and use it to its fullest potential. A number of traditional offline businesses such as postal services are starting to move towards gearing a greater portion of their business activities towards the online arena.