Selangor Journal
People wearing protective face masks are seen waiting for the LRT train at a station in Kuala Lumpur, on October 1, 2020. — Picture by REUTERS

OPINION | Social media as an economic platform

By Adilah Zulkiffli

IN the present age, information and communication technologies are important as part of communication and play a major role in the global economy.

In the new era of media evolution, from traditional media to new media, is new media’s continuing growth and increase in influence around the world.

The existence of social media platforms including Facebook, Instagram, Twitter and YouTube have become a strong platform for sharing information, communicating, conducting business and also for education.

About 58.4 per cent of the world’s population uses social media, with average daily usage at approximately two hours and 27 minutes. Social media provides many advantages and opportunities to generate profit, especially for the business field.

Both small and big businesses utilise social media to generate income. The impact of social media on the field of business falls under the definition of the communication theory known as Social Marketing Theory.

We can see nowadays how businesses online become fast as they utilise online marketing in creating content, posters and campaigns to engage with consumers closely. Good online marketing is one way of gaining the consumers’ trust with their brand on social media. Specifically, when it comes to building a brand, is not easy to develop trust, value and belief among consumers.

Personally speaking, TikTok is one example of a good platform for businesses as the platform only allows for brief video clips, both personal video clips as well as from those seeking to sell their products and services. It indicates how social media provides opportunities for businesses to present their brands in a transparent manner to their customers.

In addition, it also allows customers to react to the brands being offered without needing to spend too much time watching and listening, as is the case with traditional marketing. Social media results in its users honing their creativity to expand their skills, thus making it useful to generate profit.

It can be said that social media is an inexpensive tool compared to traditional forms of advertising including billboards, television outlets, print media and the radio. However, there is a new way to increase online marketing sales which is paid advertising like ads on Facebook, Google, and TikTok Shop. Social media advertising utilises algorithms that present users with ads they are interested in.

Conversely, social media can also have a detrimental impact on businesses. The public can
post both good and bad opinions/comments about the company or brand. This can also result in potentially misleading information which could have a negative impact on the company or brand’s image and reputation, as the public can easily jump to conclusions or are otherwise influenced because of another’s point of view.

Nonetheless, we can make good use of social media and maximise its business benefits. Promoting products without having to resort to unethical business practices can also lead to healthier competition among commercial rivals. Social media is also cost-effective for small businesses that are struggling, particularly during the Covid-19 pandemic.

To this, I advocate that we should support one another and be ethical users on social media, avoiding both harming others and engaging in cybercrime. I see it as a positive when all Malaysians make effective use of social media.

For those who have just started out in their respective businesses, I encourage you to not give up so easily but instead expand your enterprise on social media. Any amount of effort contributes to bigger achievements, so long as you maintain momentum in what you are doing now. Every business begins small.

 

*This is the personal opinion of the author/contributor and does not necessarily represent the views of Selangor Journal.

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