http://www.vancouversun.com/business/smallbusiness/Small+retailers+using+Facebook+boost+sales/4097982/story.html
Summary:
The article I read mentions that many small retailers use facebook to boost their sales. Many large business have been on facebook and have millions of followers, but small business just need a bit of time to adopt to that. Last summer, the percentage of small businesses with a social media presence jumped from 12 percent to 20 percent from the survey of University of Maryland business school in 2009. Facebook is the most popular site of small businesses setting up their own page. Janet Holt set up a facebook page for her 5-year-old business in August. She does a lot of promotion on Facebook. For example, she credits social media with helping to drive turnout at her annual holiday sale, she gives additional discount to the shoppers who replied to this invitation. Nowadays, facebook has almost replaced the position of e-mail because facebook is much more effective than email.
Connection:
The connection to chapter three is the production margin and the use of socials media. Before you start your business, you need to choose the right price for the customers. First, you need to know which type of customer that you are dealing with. If you want to set it as a high price product, your attention need to focus on qualities of the the product. Otherwise, the rich people will not buy your product because the quality is so poor. On the contrary, if you set it as a low price product, your customers will be more because the price is not high and everyone can afford it, but you need to sale a large quantity of your product. Today, everything is relied on internet, so if you can use it wisely you will benefit a lot. The study found, facebook is the most popular site now. Setting up a page of your business is better than making your own website. In addition to that, using facebook appropriately can actually expand your business and make more money.
Reflection:
Today, socials media still have a really big potential to business. Facebook will replace the position of e-mail because facebook is more efficient than e-mail. E-mail become an old thing now. Using facebook to advertise your product is actually doable because it is not complicated and it is a good media to use. You need to let people know your product so choosing the right media to use is so important. Beside media, there is also some strategy that you may use in facebook. As I mentioned before, you need to know which type of customers that you are dealing with. After that, you choose to do high price or low price. Even if it is high price or low price, there is also a strategy that you can use when you sale your product. In my opinion, when you chose a price that you want to sale for the product, you raise the price a little bit higher because you can give discount and stimulate customer's purchase sentiment. I think this might be a effective method. However, setting up the price and choosing the right media for advertisement are really important. These might lead your business to success or fail.
It is true that Facebook or internet is taking over the communication between email advertising and promotions but it doesn’t mean that emailing will result in total extinction. Email seems to be on a more personal basis while Facebook just provides broader communication portals to other people, for them to go through the site and see what other people review and to also read the feedback from certain products or services. Facebook seems like a system of feedback versus email where most of them are no-reply addresses. Facebook also gives a chance for great interaction between followers and adds competitiveness or vigor to contests. Sales strategies on the other hand, I think should be determined from not only the target market itself but also on the product or service being sold. It doesn’t necessarily have to be directed to the “rich people” and what not but more if what is being sold worth what it is priced at and how innovative it actually is.
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