VNU- UNIVERSITY OF ECONOMICS AND BUSINESS FACULTY OF BUSINESS ADMINISTRATION IMPACTS OF SOCIAL MEDIA ON BUSINESS OF SMALL COMPANIES. A CASE STUDY OF GOLDENSEA INTERIOR CO., Ltd BY VU THI LAN ANH A THESIS SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION (INTERNATIONAL STANDARD PROGRAM) Hanoi — May, 2016 VNU- UNIVERSITY OF ECONOMICS AND BUSINESS FACULTY OF BUSINESS AND ADMINISTRATION IMPACTS OF SOCIAL MEDIA ON BUSINESS OF SMALL. A CASE STUDY OF GOLDENSEA INTERIOR CO., Ltd Supervisor’s name: Dr. Nguyen Ngoc Thang Student’s name: Vu Thi Lan Anh Student ID: 12050007 Intake: QH2012-E Program: International standard Hanoi — May, 2016 TABLE OF CONTENTS TABLE OF 060) 60501017 7.ccccccescsseesessesseesesecseeseesscsecscsscsuseecescsessussstscesaceasearenees iv LIST COP FIGURES s«.
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10 dụ: SOCIAL THÔ Ô „.ssscosncie 20s Hán S2 991A nen th LH HH H50 sims SE0556/56.1 Definition of social media.2 Impacts of social Media .3 Different form of social media marketing .4 Social media marketÏnp.1 Definition of Facebook. 2v 12v 1v nh TH HH ng 19 1.2 Five elements of Facebook .- kg -- re, 21 JS POOOK CA DOB craton cu —ua exes thất ti seen SH SE HKD THAM FRAN SD A ncn 1= 2255 60g các 22 PG PGB CONG HIẤN,. cccssnse chi tin uth tan NA GIAN SN ARIA CALA Vis GE Oden naanmcvvemn 200g de 23 CHAPTER 2.1, ROSCGPC PROG os «con nhan ko nghi son onan hơn intr eRunRRAERORINWAA 1934 PC EU BIẾT SENS nansnnene 26 2.-- óc ccn n1 HT KH SH TT T1 1H HH ng cay 26 2.- ¿c2 1S 24k 3v E HT TH KTS Tá ng sec 26 ii Vy, 7. ANALYSIS THE SITUATION OF USING SOCIAL MEDIA AT GOLDENSEA INTERIOR CO.
Introduction about Goldensea Interior limited company. General InÍOTTafIOH. Products and service 299194849141 T-110. cá LH TH ng TH ng HH HH HH ưu 31 3.
Factors that affect the current digital marketing activity of the company. Human resources h Giá tá eo atoll i058i3Ey8i5S.Hg hi sưa mene er H1 t.0008g 32 32:2: BUA GC min gpdiESiETEAE 01 AT bán Eiaan 1E E6 80658146 1461406 gEùu ấu b4 78s E4 gu uy 2g g1 6y gcxe 32 9.25 'ÀLÍHTfS le ng nhà hy nhac gTSh TL 3H G001356138 S8Rd lồntišpHHENH1G62o©iHBct.iêtgixG2u v250g073:136 cu biài cúc ta gen voggg 32 3. Current situation of social media marketing at Goldensea Interior Co.,Ltd COMPOHY iss» vances thhhnnng hd iiEE unsweasyas wees 188000 BDMUGTSRIEREA0k-RRGAJH5 0E /SSR.2 Current social media marketing activities .1 Social sharing — Youtube. Social network - Facebook.- -- «+ x 1 2114112112111 1 tr re 34 Table 3.1: Engagement cost for ads campaign.
Identifying the impact of social media on business. Social media help business to raise brand awareness. Social media like Facebook help business to building loyal customer relatIOnsHip. cach HH TT Hà TH Hà HH HT TH TH TH TT TT TH rệt 38 Table 3.2: Respondent of customer for each conf€nf.-- 5-5 ssc+sc+scsczsc+ 38 3.
Social media is a sale channel for Goldensea Interior company .5 Measurement of those impacts .3: Metrics of measurement. FINDINGS AND SOME RECOMMENDATIONS FOR DEVELOPMENT SOCIAL MEDIA MARKETING STRATEGY OF GOLDENSEA INTERIOR COMPANY.1 Content is KING wiccccccccccccsscccccsscssscscccceserscccceeseesnsscceeseususesessessuseceserstaueeseussueeess 43 iii 4.2 Solution to improve CENYAQEMENE ÏH-D€ .3 Classify source Of CUStOMEF .4 Using Facebook ad @€ƒƒ@CFV€Ïjÿ.5 Develop more social media Ch@HH€Ï.-- Ác v11 111v ng ng tru 45 CONCLUSIONS.HGI'RETIINSD:94398-BIS48083/05900)270022213700NQ8/800568008/388 46 RERE REIN CES css cnsscusensususuncoussssomes Eu603060189100310098100000M010100368188ã0008310885. HH HH HH HH nh TH TH HH kh 52 IV ACKNOWLEDGEMENTS During the time of completing this thesis, I am very fortunate to receive numerous of instructions and supports from many people around me. I greatly appreciate the contributions of these influential people and take the opportunity to thank them.
First of all, I would like to express my deepest gratitude to my supervisor, Prof. Thang Nguyen Ngoc, Senior lecturer and Vice Dean of Hanoi School of Business - Vietnam National University, for his consistent availability, guidance and encouragement every time not only when I had problems to do this research but also when I got troubles at work. Without his help, I could not complete my research as my best. Secondly, I would like to express my gratitude to Goldensea Interior Limited company for giving me this chance to work in a professional working environment and conduct the research in time of tasking.
Special thanks go to Ms. Quynh Nguyen Truc - Director of Goldensea for providing me all valuable information to do this study. I also thank my college in marketing department for supporting me in memorable time of enthusiastic, friendly and responsibility working. I am in debt to Faculty of Business Administration — University of Economic and Business for four unforgettable years in my student life with full of priceless experiences and memories with a lot of lectures and friends.
I am greatly indebted to my family, especially, my mother — Ms Chieu, Vu Thi for her endless sacrifices and love. Ha Noi, May 2016 VU THI LAN ANH LIST OF FIGURES Figure 1. Number of SMEs in Vietnam. --- 6 + S2 2k vn vn re 8 Figure 1.
The Internet Marketing Tree. Logo of Goldensea Ïnf€T1Orr.-- --- ¿+55 2 + St S3 3E 1E 3 1 xxx 30 Figure 3. Goldensea Interior Co.---- 5-2 < sex serceesrerrrresee 34 Figure 3. Statistics of audiences on Goldensea — Thiet ke quan café page.
37 vi LIST OF TABLES Table 1.1: Defining SMEs by capital, revenue and Employee. Vietnamese SMEs sirIG[UFE. con BH HH. Top 10 social nefWOTKKS.--- ¿St t1 1111111181113 15151 101111 1c tre rrec 17 Table 2.
-ó- ác G20 20 110123121 11 311111 HH nh ng gu gà 28 Table 3.1: Engagement cost for ads campaign cuatee Hesusuvans mus .EHEGSE1WSRSTNHNS 55500195 thes aos 348550 36 Table 3.2: Respondent of customer for each content .3: Metrics of mMeasureMeENt .cccccccscesccesececececenccccessccessecssceessccssesscecsacesseans 41 vii ABSTRACT In today’s internet driven environment, the development of social media has created a great opportunity for businesses to building loyal relationship with customer as well as reach more potential audiences. Especially, with small business, social media was used as a mean of marketing because of low barrier to entry, strong power to engage customer. This thesis aims to identifying the impacts of social media on small business and find out how to measurement those impact in order to help company use social media more effectively. The qualitative, quantitative method and interview are employed to make a useful result and conclusion of the research.
The study concludes that social media help small business to attract more potential customer, building strong customer relationship and increasing revenue of the company. By indicate KPIs and develop a metrics, company can easily measure the impacts of social media Key words: social media, impact, measurement, small company INTRODUCTION This chapter provides a brief overview of study presented in this thesis. The Introduction part introduces the reader the aims of the research, problem statement, research question as well as the task and contribution of the research. The overview prepares for the reader for chapter 2- Literature review.
Define the significance of research With the increase in the number of internet users, the use of social media has growth over part decade. According to Internet World Stats, by the end of 2014, Vietnam had 39.8 million Internet users, account for 43. As the rise of internet user, number of active account in social media is increase as well. Social media plays an important role in marketing and building customer relationship.
With limited barrier to entry, small businesses are beginning to use social media as a means of marketing. They invest time, money and other capability on social media but they do not have clearly understanding of what are impacts of social media on their business and how to measure those impacts. Small firms are extremely important to Vietnam economy. Till May 2014, there were over 500 thousand small and medium-sized enterprises (SMEs), accounting for 97.5% of the total number of active enterprises.
Annually, SMEs contribute about 40% of GDP and 51% to attract the workforce of the country. Because small business play a vital role in Vietnam economy, it is important to understand how their sale affected by social media and how they use this channel to engage with customer, building customer relationship. However, many small businesses face lots of difficulties to use social media. A small survey conducted by the Deluxe Corporation found that 49% of small business owners surveyed claim that effectively reaching customers with limited resources is their biggest challenge (Small Business Trends, 2011) [3] 2 As time goes by, there are many studies indicated the important and impacts of social media to business, but few of those studies focus on the situation of a very small company.
Because of the reasons mentioned above, the author decided to conduct this research for final thesis at the university. Aims of the research By conducting this research, the author aims to identify the impacts of social media on small business as well as measurement of those impacts. Objectives The study was carried out for the purpose: e Analysing current situation of using social media in small company e Identifying the impacts of social media on business e Measuring those impact 1. Research Questions Here are 2 questions that author tried to clear and answer to achieve research aims: e What are the impacts of social media on small business? e How to measure those impacts? 1.
Research Scope The research scope is limited in Goldensea Interior Co., Ltd in the period from February 2016 to April 2016. Therefore, some analysis and conclusions may be still subjective and can be continuously improved 1. Research methodology This research uses both qualitative and quantitative method with direct observation and semi-structured interview. All needed data comes from the primary and secondary resources.
The primary data was collected directly from fan-page insight, Facebook power editor and questionnaire. The secondary data will be referred from the previous articles, related books and journals that including theoretical context, frameworks and literature. Research contribution When implementing this research the author hope it will be useful for company to improve social media marketing strategy. It will be a useful reference for any small company to find out the impacts of social media as well as measurement those impacts on business.
Research structure This research includes 4 chapters Chapter 1: Literature review of small business and social media Chapter 2: Methodology 4 Chapter 3: Analysis the situation of using social media at Goldensea Interior Co., Ltd Chapter 4: Findings and some recommendations for development social media marketing strategy of Goldensea Interior Company. LITERATURE REVIEW OF SMALL BUSINESS AND SOCIAL MEDIA Marketing is a crucial activity for the survival and success of a business. Businesses today have more marketing opportunities than ever (Bresciani &Eppler, 2010) [4]. In small businesses, marketing relies heavily on word of mouth recommendations for customer acquisition (Stokes & Lomax, 2002) [5].
Today’s economy, distinguished by relationships, technology, and networks, favors some of the characteristics of SMEs (Walsh & Lipinski, 2009)[6] Social media enables companies to network with customers in order to build relationships and achieve a better understanding of customer needs. Businesses want their message to reach as many people as possible. To maximize this reach, a business must have a presence where customers are hanging out. Increasingly, they are hanging out on social networking sites (Halligan, Shah, & Scott, 2009){[7].
Social media provides multiple opportunities for small businesses to communicate with their consumers and build closer and more profitable relationships.