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The intent of this proposal is to engage Cox Automotive and it Board of directors or current leadership toward the need to analyze the company’s social media platform both in local communities, while making comparison to other competitors in the industry. The focus is to further access how social media can impact sustainability and growth for the company.
Social media over the years have evolved. It has grown from individual interest to corporate interest. In recent times, companies rely often on the effect that social media have on their brand and proactively try to use these tools in order to create a positive image of their business. According to an article written by Christine Moorman (2015)” She states that some of the ways that social media has been used as goal-driven metrics for companies and more so, demonstrates metrics validity in terms of how social media generates brand awareness and necessary engagements. In this global dynamic business environment where information through social media can satisfy the end user, is fundamental for corporations like cox automotive as it will “increase the levels of involvement and ultimately, improve business results” (Van Shaik, 2012).
However, social media has grown in corporate standing and also influence the growth of profit. Recently Cox’s launched an audience extension product that is designed to help automakers and regional association boost the performance of their social media advertising according to (Tanya Gazdik, 2017). She also stated that unlike the other competitors in the auto industry using old and rusticated data, this approach is intended to target automated shoppers and in-turn allow advertisers to link targeted ads on sites like Facebook and Instagram.
Social media is one of the most important contributions of modern technology in business growth. Today, almost every company including Cox Automotive competitors have launched their social media presence that is almost as vibrant as their real business operations. The business environment now have materialized into all aspect of industrial sectors to provide better opportunities to create strategic positions. In such environments it is difficult to determine the appropriate boundaries of business without techniques and thoughts that undermine the traditional set of market share.
In today’s world, Social media platform is considered one of the most dependable ways to engage with the society and the global village. YouTube, LinkedIn, Twitter, Instagram and Facebook have all transformed consumers notion of products and services offered by companies. According to a study by Holmes(2015), “Social media is the next wave of the digital transformation and for businesses today, the best way to keep your company successful is to fully embrace social media. Social media has become one of the fastest growing trends in this century.”
Examples of these social media sites are Facebook, twitter, LinkedIn and the likes. Companies and competitors always use these sites to communicate to its stakeholders. Investing in a social strategy now is the single best way to show that your business has a forbearance future. Technological change is always a new way of making business profitable and competitive. In such an environment it is difficult to define and determine the appropriate boundaries of business.
Competitors do not compete only with identical business models. They are coming in with new and different approaches, techniques and thoughts to undermine any close competitor. One of these new techniques is the social media. It will help cox Automotive in significant relationship to the creation of consumer perception of the quality of brand or company reputation. The expansion of social media is increasing the communication among potential customers.
Based on research done on Cox’s Automotive, it appears that the company has a huge impact in the auto industry and through its great networking system it has also established; not only a social presence, but also a database that helps monitor the consumer behavior online. Between Cox Automotive and its 27 auto brands, the company has been able to manage and create an incredible level of awareness in its industry. According to online statistics, Cox Automotive currently have 4603 like and followers on Facebook, between 241 views and 588 views on its 2 minutes video on YouTube, 7117 tweets and 9847 followers on Twitter, 17,886 followers on LinkedIn and very few impact on Instagram.
It is recommended that Cox’s Automotive develop a new way and strategic method to grow its presence on all social medial platforms. Cox’s would also need to engage both the local community and international market through social media, because this would further increase its market share and revenue. To achieve this goal and beats its competitors, the company should analyze the following areas;
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