The marketing industry has ended up continually advancing and changing in the previous two decades. Globalisation and new innovative technology advancements have had enormous effects on the marketing business all over the world. The major explanation behind this methodology is the huge development of the internet and online social media websites. The explosion in the use of the Internet has paved the way for several path-breaking innovations. One of the major reason and exciting aspects of this evolution is the emergence of electronic-commerce. Previously, the only way to buy books was to visit stores, purchasing clothes meant a trip to malls, trading of stocks was possible only through brokers but now businesses are coming to our doorsteps, thanks to the advancement of e-commerce websites.
The concept of e-commerce has existed subsequent to the times of cavern works of art; however the internet has made things conceivable on an entire new level. In this growing technological world and marketing industry, e-commerce websites have become an important platform and is the best option accessible for every brand to associate with its customers online. Social media is scorching red-hot and is growing as a trend in the market. E-commerce websites allows customers and its likelihood from every corner of the world to engage and communicate directly with brand representatives or discuss about various brands with their companions.
Today, across the globe there is a big demand for businesses to grow by changing their business ideas and practices, transfigure, and adjust empowering online purchasers to wind up a piece of their business. This extant change is required and is determined by the growth and advancement of social networking websites as a currency of trade. Radical transformations in business plans and actions have forced organisations to produce its products and services divergently in the market. Organisations are spending huge amount of money to put resources into new innovations that brace online presence through social networking, online groups and communities, and online commerce. The main advantage for businesses today is that they can use the platform of social media to market premium brands, but what fascinates more is that online buyers are ready to pay any price for the brands that provide an exceptional customer service through social media websites. Social media has become an important and intrinsic part of every business today and it’s a process that every organisation in the world has to follow, adapt to and entails to get right.
We have moved in an economic trend, where we can create and share content 24*7 through online interactive social system from any part of the world. Information doesn’t simply spill out of enormous organizations or governments down to the individuals; today people communicate with each other by just a click on their keypad. This revolution and rudimentary change in the way we work, live and play has been possible only through the prevalence of e-commerce websites.
It is said that, “Young people are taking better advantage of social tools. Our social tools are dramatically improving our ability to share, cooperate and act together. As everyone from working biologists to angry air passengers adopts these tools, it is leading to an epochal change”.
As we are advancing towards 21st century, people are opting for interactive news on social media instead of using traditional modes of channels, when searching about the latest news. Further, this is attracting Indian businesses which are constantly growing and adopting social media as an effective marketing channel with 83% percent of them concurring that without social media activities, their marketing campaigns and techniques cannot be successful, while globally 74% of companies sharing the same views. He further explains that 39% globally and 49% of Indian companies spent almost 20% of their budget on marketing activities to increase business social networking.
Hence, growing awareness of social media among organisations globally has seen long range social networking advance from a ‘pleasant to have’ to a necessity. Around 66% of Indian companies and 61% of worldwide organisations likewise underscored the requirement for an offset of marketing media, affirming their belief that without digital techniques and advanced procedures, marketing campaigns would not work. As a result of this, Indian women are now stepping into the world of digital media and are adopting this growing platform to become social business entrepreneurs. Some of the best examples of this adopted technology are Falguni Nayar of Nykaa.com, Suchi Mukherjee of Limeroad.com, Neetu Bhatia of KyaZoonga.com, Radhika Aggarwal of ShopClues.com etc. The list of Indian business women goes on and on and is increasing day by day. All these women’s have spearheaded all the obstacles and lead from the front thus leaving an example for other women to follow their footprints.
One of the biggest public relation agencies in the world surveyed the world’s top 100 organisations across different countries such as Europe, USA, Asia-Pacific, Latin America and found that 87 percent of the Fortune’s 100 top companies are using at least one channel of social media platform which states that ecommerce websites are now evolving as a new trend in the market. Twitter is the most popular network with 82 percent of the companies operating a Twitter account. YouTube is ranked second with 79 percent and Facebook comes third with 74 percent of companies opening a brand page. These facts have further motivated Indian women to imbibe this amazing technology of digital media and look for different ways on how it can be implicated in their business structure.
Thus, the technological change that is occurred due to social media, is affecting the overall transformation of business and communication process between Business to Business (B2B), Business to Consumers (B2C) and between consumers themselves, around the world. Today, users want multimedia and e-commerce in a package that is both powerful and user-friendly. What makes it more interesting and exciting is that as the platforms, the medium, the technologies, and the bandwidth change, we will see a dramatic change in the way we approach e-commerce and the expectations that we have about it.