New Media Marketing & SME's global trade (Market)

Abstract

This paper attempts to investigate the impact of New Media Marketing on Global Trade/ Small Medium Enterprises and Individual business men/ business women registered with chamber of commerce. The paper further examines the role of New Media Marketing towards enhancing the return on investment, knowledge, accessibility, global trade and adaptation etc. This study analyzed the response of 180 small and medium businesses at different locations in Islamabad. A questionnaire based survey instrument was used which was distributed with the help of chamber of commerce to their registered businesses, apart from this we have also distributed the questionnaire to many other available businesses. Result of the present study shows that new media marketing and knowledge are positively and significantly correlated. The results further indicate that all variables used in this study are significantly correlated with new media marketing methodologies. The limitations of this study are always changing a search engine algorithm which plays a vital role in any online business’ success. However if the businesses start using and implementing the finding of this study can enhance their return on investment and will help attracting customers throughout the globe. This study will, however, provide insight to future business people to make effective plans which can have enhanced impact on return on investments which will be registered with the chamber of commerce in future. This study will also be helpful for people running online businesses but having smaller revenues either they are registered with chamber of commerce or not. Apart from this, this study will also help increasing the knowledge as well will add more to the return on investment. Individuals using new media marketing techniques can earn more revenue as compare to people using old conventional marketing techniques. New media marketing has direct impact on conversion or sales thus using these skills one can enhance the number of sales per season. In this study we have discussed in detail about new media marketing which is a relatively new concept used by businesses in developing an online community, which allows satisfied customers to congregate and extol the virtues of a particular brand. In most cases, the online community includes mechanisms such as blogs, podcasts, message boards, product reviews, Wikipedia, and social networks all of which contribute to a transparent forum to post praises, criticisms, questions, and suggestions. One of the primary arguments to promote new media marketing is the premise that traditional advertising is losing its influence on consumers. Backed by statistical evidence demonstrating a growing trend of consumers making purchasing decisions based on Internet research and referrals. These advocates strongly adhere to the notion that consumers are more inclined to believe feedback from like-minded peers than corporate marketing verbiage dispersed through traditional television, radio, direct mail, or newspaper advertising. Although businesses would be exposing certain weaknesses to the marketplace by allowing individuals, or even competitors, to post critical comments, responding with an honest and transparent answer designed around solving the issue at hand may mitigate potential risks. New media marketing is most effectively marketed by internet-driven technology such as blogs, RSS, web video productions, podcasts and social networking platforms (Comscore, 2012)