IMPACT OF SOCIAL MEDIA ADVERTISING ON MAINSTREAM MEDIA
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IMPACT OF SOCIAL MEDIA ADVERTISING ON MAINSTREAM MEDIA
Chapter one
INTRODUCTION
Background for the Study
Social media is thought to be a phenomena that has altered the connection and communication of persons and entities around the globe. However, some claim that social media is not a new concept, having evolved since the beginning of human connection (Edosomwan, Prakasan, Kouame, Watson, & Seymour, 2011).
The writers noted that social media has recently altered many aspects of human communication, including business. It should be noted that social networking has become a daily routine for many people.
The rise of social media has brought to the forefront major social networking sites such as Facebook, Twitter, YouTube, Instagram, MySpace, Skype, LunarStorm, Cyworld, and LinkedIn. According to Dewing (2012), social media has several defining principles.
These characteristics influence how people engage online. Social media provides new opportunities for collaboration and conversation. Persistence exists in social media in the sense that most of the content uploaded on it may remain there permanently by default.
There is also the possibility of replicability, in which the posted content can be copied and redistributed. There is also the feature of searchability, which allows content to be quickly located via online search engines.
Social media is also accessible, which means it can be accessed from anywhere and at any time as long as there is internet availability. According to reports, social networking has helped UK newspapers and broadcasters gain traction around the world, particularly in the United States (Newman, 2011).
The rise of social media over the previous decade has resulted in several disruptions in various parts of life (Kperogi, 2016; Mahoney and Tang, 2017). The impact of social media on many of these issues remains debatable.
Given the polarisation of ideas in literature, the significance of social media in communication, news broadcasting, elections, terrorism, government, and other areas is not fully understood (Kperogi, 2016; Mbanaso et al., 2015; Miller, 2020).
The situation is similar in the corporate sphere. To avoid disruptions that could lead to chaos and constitutional issues, investigations and conversations must continue even as social media becomes more sophisticated. Businesses that understand the nature of these disruptions are better positioned to capitalise on the inherent commercial benefits (Mosco, 2017).
Amazon is a great example of this. Many brick-and-mortar retailers were unwilling to study the potential disruption caused by the internet’s interruptions.
However, it is currently believed that the online retailer Amazon is the primary cause of bookshop and small business closures, and that it even threatens the survival and business model of traditional brick-and-mortar commerce behemoths (Sadowski, 2020).
According to eMarketer Editors, Amazon holds around 5.1% of the total US retail market share, while accounting for 47.0% of all eCommerce sales in the US in 2019. Furthermore, Malone and Davidow (2020) reported that approximately 55% of buyers begin their online purchase journey on Amazon.
The decision to acquire a good or service during a consumer’s purchasing decision process is frequently referred to as the purchase decision. It is a subset of the broader concept of consumer behaviour.
Consumer behaviour is defined as “the behaviour that consumers exhibit in seeking, purchasing, using, assessing, and discarding products and services that they anticipate will meet their needs” (Schiffman, Kanuk, and Hansen, 2012).
Consumer behaviour is also defined as the thoughts, attitudes, and actions that people engage in while consuming, as well as everything in their surroundings that influences these behaviours (Peter and Olson, 2010). These definitions show that a customer’s decision to buy a product or service does not occur all at once or takes a long period.
The new medium has expanded the scope of human communication. One of these developments is the rise of social media. Social media helps people connect with one another.
User-generated content platforms allow individuals or organisations to create content, participate in debates, and exchange content (Wikipedia).
Mayfield (2008), Shepherd (2009), Rodman (2010), Stagno (2010), and others define social media as online platforms that promote participation, openness, debate, community, connectivity, interactivity, collaboration, and information exchange.
According to Ravasi et al. (2019), traditional media (TM) took significantly longer to create its reputation than social media (SM). Due to its fierce competition with TM and the consequences for that company, SM is currently changing the way mass communication works. SM is common among younger people (millennials and Generation Z), particularly those between the ages of 25 and 39.
(Lee et al. 2018). Academics and professionals alike have expressed interest in the growing use of social media and its impact. Despite the scarcity of research on the development and future of SM, this paper investigates and compares the amount of time it takes leaders to respond (using SM and TM) when difficulties arise.
This is crucial because in order to properly use SM, business and political leaders must understand how it differs from TM. The research focused on Nigerian Twitter users.
The rise of social media is changing the way information is communicated and influencing how an organization’s leadership and reputation are created (Etter et al., 2018). With its multiple platforms (Facebook, Instagram, Twitter, etc.) and current ubiquity, social media allows for almost any type of connection or communication.
TM transmission was never strictly one-way, which was unique. Despite the scarcity of research on the nature and breadth of the relationship/comparisons between SM and TM, how leaders approach SM is a critical area for exploration.
It is critical to examine whether executives are responding to SM challenges faster than they were prior to its creation and growth.
According to Williams and Schoonvelde (2018), mass media, or TM, encompasses all forms of communication, including print, radio, and television. Print media includes publications such as newspapers and magazines.
Kaplan and Haenlein (2010) defined social media (SM) as a networked online venue that uses computer proxy communication to share and exchange information.
Furthermore, they defined SM as “a collection of Web 2.0-inspired applications that enable the creation and exchange of user-generated content.”
SM is essentially the use of the internet through websites and mobile applications to facilitate more interactive mass communication. TM is essentially the mass media channel used prior to the arrival of SM.
According to Roy (2016), the major differences between social media (SM) and traditional media (TM) are:
SM reaches a large audience, whereas TM’s audience is typically more targeted.
SM is adaptable (it can be edited after sharing), whereas TM is permanent once broadcast.
SM is instantaneous, whereas TM can be delayed due to press times.
SM is a two-way conversation, while TM is one-way.
SM frequently provides inaccurate demographic data, whereas TM’s is more accurate.
Over the last ten years, social media (SM) has grown rapidly, changing how the public perceives and defines business, politics, and civic involvement to the point where political conversations among peers using SM have become a prominent indicator of civic political interactions (Ravasi 2019).
Political and business leaders now have a unique opportunity to directly influence public opinion, better engage and understand the public, and build long-term relationships, thanks to the wide range of evolving social media tools that have enabled the general public to participate in all discussions on accessible platforms (Hyun & Kim, 2015).
1.2 Statement of Problem
Traditional advertising has up until now met various fundamental obstacles. Among other classic advertising strategies, using print and electronic media, banners, and billboards can be pricey.
Due to the expense of acquiring newspapers and the fact that many billboards are a reserve of urban districts, numerous traditional advertising routes, such as print media and billboards, are also inaccessible.
A report by SMG (2015) said that the company had a manually run system that was ineffective and that it was important to migrate to an automated and integrated system.
This study’s principal purpose was to investigate into how social media advertising affects traditional media. This implies that social media adoption has increased across the board, including in Nigeria.
Despite the aforementioned acknowledgement, there is a scarcity of empirical data proving how social media affects the performance of the advertising industry. For instance, a 2013 empirical study by Jagongo and Kinyua explored the relationship between social media and the increase of entrepreneurship in Nigeria.
The study concluded that social networking gives organisations access to resources they would not otherwise have. The study did not, however, uncover a correlation between social media involvement and the advertising business. The aforementioned shortcomings in empirical research further spurred the completion of this analysis.
Traditional advertising has up until now met various fundamental obstacles. Among other classic advertising strategies, using print and electronic media, banners, and billboards can be pricey.
Due to the expense of acquiring newspapers and the fact that many billboards are a reserve of urban districts, numerous traditional advertising routes, such as print media and billboards, are also inaccessible.
A report by SMG (2015) said that the company had a manually run system that was ineffective and that it was important to migrate to an automated and integrated system.
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