Changing needs and expectations of customers has forced businesses to come up with newer ways and means of engaging customers. Due to fierce competition at place, organizations are trying to establish innovative ways of approaching clients. With the advent of increase in usage of Internet as well as Smartphones, it has become imperative for almost all businesses to have online presence. In the era of touch and connect, various platforms have become famous in facilitating customers to network in creative ways. At the same time, this has created a huge opportunity for businesses to target such audience. This has also led to effective marketing and promotion of products and services. With the potential to target masses, online business models have surpassed brick and mortar environment.
Social networking has become the new norm amongst the millennials. Each millennial has account on more than one social media platforms, this predominantly includes Facebook, WhatsApp, YouTube and Twitter. It is not just limited to millennials but government agencies, service providers, public figures, institutes, companies and who not. Such platforms give efficient and creative way of expressing once opinion to the masses. Social media platforms can be effectively used for establishing and scaling up of the businesses.
It is critical to evaluate which platform is used for what by the millennials. Every platform comes with unique features. Facebook may allow check-in specifying hotel you visited, WhatsApp can allow you to directly share about purchase of new car with your friends, YouTube may facilitate you share reviews of some new electric appliance you are using and twitter may assist you in communicating to your favorite brand directly. Critical evaluation of the preferences of the millennials about usage of social media platforms will assist the businesses to effectively utilize their advertising fatty budgets and increase the sales. This can also help in strategizing about the way businesses wants themselves to get acknowledged by their customers. Author conducted a survey amongst few post-graduate students to understand their preferred mode of engagement for making a purchase. It is found that though there is no single winner amongst the chosen platforms, YouTube and WhatsApp can be seen as the most preferred mode of brand engagement. Facebook and Twitter seems to be lagging behind on various parameters. It is concluded that the Study of usage pattern of Social media platforms amongst the millennials is very critical for businesses to make the right decision.
Extracted From: Kurode, T. (2019). A study on choosing right social media platform for a business to target the millennials. The journal of business studies and research (JBSR). ISSN 2455 – 6610 Volume 4, Number 4, 2019
Prof. Tanay Kurode
Faculty Member, Indira School of Business Studies, Pune