Usefulness of Social Media Tools - Quint Group

Question :

Introducing technologies in the operations of the company has enabled the small scale businesses to compete in the market with other large organisations. This helps in the future expansion of the small businesses and allow owners of the small businesses to used technologies effectively and create operations. For this report you are required to address the following questions.

  • Examine all the appropriate methodologies of research along with its approaches as a part of the process of research.
  • Conduct a research and analyse it with reference to the project of business research.
  • Communicate all the outcomes of the project of research to the stakeholders who are identified.
  • Comment on the concepts and the applications related to the research methodologies.
Answer :

INTRODUCTION

Overview of the Research

Social media is the collective of online communications tools or channels dedicated to the community- based interaction, input, collaboration and content-sharing. This technique facilitate the sharing and creation of ideas, career interests, information and many other form of expression through network and virtual communities. In today's world, large number of the organisation are used social media tool with purpose to increase brand awareness, maximise website traffic, boost sales, easily promote goods and services etc. All these are main benefits which support an enterprise to keep strong preference at large level. In this research project, chosen organisation is Quint Group Ltd., it is a multiple award winning financial technology group located in Macclesfield, Cheshire, United Kingdom. Main purpose of this project is to identify the significance of social media in business operations and activities. Therefore social media is effective and important part for the company to maximise their sales and profit (Agnihotri and et. al., 2016).

Background of the Research

Quint Group Ltd Founded in early 2009, it is a multiple award winning financial technology Group headquartered in Macclesfield, Cheshire, UK. This Group possess and operates a portfolio of 4 reciprocally good and strategically ranged financial technology enterprise in the user finance market, with a main emphasis on the development and improvement of its financial data. For achievement of long term growth and success company plan to implement social media. It is one of the best and beneficial part of the digitalisation which benefited to the company to develop its strong and long lasting position at large marketplace. Primary motive of the company about implementing digital technology in their business operations is to gain competitive benefits and maximise customer base in the organisation also.

Significance of the Research

Research is more significant and essential for the each and every enterprise to analysis opinion and view of the people about the research topic. It inculcates inductive and scientific thinking and it advertise the development of logical habits of organisation and thinking. Thus, it is more essential and significant part for the business entity to provide entire information about products and services as well as identify feedback from the customer sides for the same. Main purpose of this research is to determine the importance of social media in the business operation and activities. Apart from this entire research is based on this which is useful and significant for the development and growth of organisation within predetermined period of time (Ahmad,  Musa and Harun, 2016).

Research Aim

It is consist to be the basic element of on which the whole research program is based, as it included as a statement in which the specific problem of research project is said in executable way. The main aim of this specific project is To determine the usefulness of social media tools in building effective relationship with customers. A Case study on Quint Group Ltd.

Research objectives

Research objectives are the output sought by the investigator at the end of investigation process i.e. what the investigator will be capable to accomplish at the last of the study. This section of the research should be nearly related to the problem statement. There are some objectives which is prepared with the help of research aim are determined as under:

  • To analyse the measures which are used by Quint Group Ltd. As to achieve better relationship with customers.
  • To identify the importance of using social media tools in business operations of Quint Group Ltd.
  • To evaluate the influence of social media tools in building relationship with customers on a global scale.
  • To recommend ways by which  Quint Group Ltd can attain higher competitive edge a market place.

Research questions

It is another important and significant section of the research project which is entirely based on the research objectives. It is the important core of a research study, project or review of literature (Aichner and Jacob, 2015). Question of research is mainly emphasis the study, analysis the methodology, and leads entire level of inquiry, investigating, and reporting. There are some research questions which are determined as below:

  • What are the measures which are used by Quint Group Ltd. As to achieve better relationship with customers?
  • What are the importance of using social media tools in business operations of Quint Group Ltd?
  • How to evaluate the influence of social media tools in building relationship with customers on a global scale?

Rational of the Research

Main reason behind conducting this research is to identify importance of applying social media in business operations. Another reasons about preparing this research is to analysis factors that effect in building strong relationship with international clients. Another motive of organising  this research is to measure the certain factor which help an enterprise to accomplish better relationship with customers. During the research, investigator face some issue including time and cost which effects on the business performance and activities. In order to overcome such problem, researcher need to implement social media tool (Baker,  2016).

Time Scale

This is another beneficial and useful part of the research project which help the investigator to identify opening and ending time of the research. In this researcher use Gantt chart and critical path method, these are significant because with the help of this, company can easily analysis time duration about finish their project.

LITERATURE REVIEW

This part of the research project is a summary and brief of past research on a topic.  Literature review surveys scholarly articles, magazines, books, and many other sources applicable to a specific field of investigation or curiosity.  Within the review the writer or authors gives a summary, description and critical evaluation of each and every source, i.e. the strong and weak point. This may also analysis controversies or gaps in the literature and topics necessity further research. Thus it is important and essential part of the research which help the investigator to analysis accurate opinion and perception of writers.

The measures which are used by Quint Group Ltd. As to achieve better relationship with customers

Quint Group Ltd provide online credit service to the customers at different way. Beside this business follow social media tool which assist the organisation to maintain effective and strong relationship with their customers. There are different factors which are applied by the company to accomplish better connection with clients. Some measure are determined as under:  

Implement CRM: According to the Chen and Lin, (2015) effective relationship with the customers is more benefited to the company to improve their image at large scale. It will also assist an enterprise to achieve long term targets and goals within predetermined time duration. Beside this, Quint Group Ltd implement customer relationship management which is more significant to maintain long term connection from the customers effectively.

Collect feedback from customers: It is another measure which is used by the Quint Group Ltd  to overcome some issue related to the customer complaints. Beside this company collect feedback from the business clients on daily basis, it help them to fulfil basis needs and requirement of customers systematically. Thus, it identify as a main measure for the success and growth of company within predetermined time duration.

Use communication channel: As per the point of view of Erevelles, Fukawa and Swayne, (2016) communication channel support an organisation to easily provide entire information about the online credit service and many other goods and facilities which are given by the respective firm. Along with this, company use verbal communication which support them to easily provide all information and data about online credit service to the potential and target customers.

The importance of using social media tools in business operations of Quint Group Ltd

Social media is more effective and essential part of the digital technology which is apply by each and every enterprise to maximise customer response in the organisation. According to the Fuchs, (2017) this technique also important and beneficial for the Quint Group Ltd to easily provide online credit service to the consumer in systematic manner. There are different importance of applying social media in business operation are determined as below:

Increased brand awareness: As per the point of view of Kavoura and Stavrianeas,  (2015) social media is essential and useful technique for the all business to maximise brand awareness among customers and employees. Beside this, clients are aware regarding the online credit service and goods which benefited to the company to increase their sales and profit within predetermined period of time.

Maximum customer base: In today's world, large number of the population are used Facebook, twitter, Instagram etc. all these are the major part of social media. All these support the company to provide accurate information and data to the customer about their services which help them to maximise customer base in its organisation.  

Maintain strong relationship between customers and company: According to the Kiráľová and Pavlíčeka, (2015) digital technology has vital and effective role for the success and growth of organisation. It will also benefited to the company to maintain strong relationship with customers by providing quality services at quick way.   

Evaluate the influence of social media tools in building relationship with customers on a global scale

According to the Lamberton and Stephen, (2016) social media tool is more effective and beneficial for the organisation to building strong and better connection with the customers. There are different factors which effects on making better relation are determined as under:

Provide accurate information: Social media tool is used by the company with aim to building strong connection with customers easily. It will also benefited to the organisation to keep strong position at large level. Beside this company improve their service process which help them to accomplish their targets and goals easily.

Social media help to maximise customer base: As per the point of view of social media is more significant technique for the company because with the help of this they can easily increase customer base in the enterprise. Thus, it will also assist the enterprise to maintain strong relation with customer for long time period.

RESEARCH METHODOLOGY

Research methodology is the process of theoretical and systematic analysis which must be followed by the research at the time of investigation. It is considered as an effective process which are applied with an objective of collecting relevant data and information in order to make an effective decisions and suitable plans for the betterment of an organization. Such method includes interviews, survey, publication research and many more methods which are useful to investigate (Ngai, Tao and Moon, 2015).  All such methods are facilitating the company in acquiring knowledge about the perception and views of customers towards the products and services offered by them in market.  It will further help company in achieving competitive advantage as well. This is the main advantage of conducting research using various methods on the basis of needs and resources available with company. Therefore, Quint Group Ltd. Should also required to conduct research in order to find out the effectiveness of social media in building relation with their targeted customers. For the purpose of research, the researcher or investigator required to adopt some tools and approaches which are given as below:

Data analysis: The investigator or researcher should required to app;y thematic analysis in order to identify the perceptions and views of respondents towards the decision taken by Quint Group Ltd. Regarding adoption of social media in maintaining healthy relation with the targeted customers. It is more effective way of evaluating data collected using qualitative research method. It mainly focuses on recording, pinpointing and examining themes within the information. In this case, various themes or patterns shall be constructed in order to give adequate support in establishing research more effectively. It requires to prepare relevant questions in order to identify the response of customers as well as employees and interpret accordingly (Ryan, 2016).

Data collection: It is considered as an effective part of research methodology in which the investigator have options to select suitable method of data collection according to their needs and available resources. There are mainly two methods of data collection which includes primary and secondary data. Under primary research, the researcher will be prepared a questionnaire containing list of relevant questions related with content of research and distribute it to the maximum number of respondents with an expectation from them to fulfil as quickly as possible.  In secondary research, the investigator collect information from different sources such as books, newspapers, journals, magazines etc. which are benefited to collect with less time and cost. In the current research, primary source will be selected due to high accuracy and reliability of data which will be further useful to make an effective and profitable decisions for the betterment of an organization.

Research philosophy: It can be classified into two elements such as positivism and interpretivisim. Both such approach are useful to adopt by researcher in order to collect relevant and accurate information about the market. In current research projects, interpretivism will be used in order to assist researcher to analyse the collected data in more effective way. It enables researcher to draw a valid conclusion after analysing their profitable outcomes received in near future. In case of positivism philosophy, it is not much effective to carry out research in systematic manner (Saeidi and et. al., 2015).

Research design: It is another effective part of research of the research methodology which consists of three components such as experimental, exploratory and descriptive. All such components are essential to considered but in present research project is based on descriptive design due to analysing actual issues which are identified at the time of investigation.

Data sampling: It is such a technique which is essential to analyse in order to find out the response of selected customers, employees and various other stakeholders. It consists of two types of sampling methods which are probabilistic and non-probabilistic sampling tools. Both are useful to identify the actual respondents of selected respondents. In probabilistic method of sampling, same probability is allotted to each observation whereas in non-probabilistic, purposive and convenience sampling tools are covered. All such are valuable but in present research report is based on purposive sampling method as it help researcher to collect accurate and reliable information from the selected respondents.

Ethical consideration: At the time of conducting research, the researcher may either faces lots of issues and difficulties due to which the entire research work may get affected. Such issues can be related with time and cost due which are needed to be invested in collection of accurate and reliable data. It is also main responsibility of research to give proper security to their respondents whose views and opinions are considered in research work. It will help in bringing motivation among the respondents to give their feedbacks and opinions more freely. The investigator is also required to arrange funds and capital from different sources in order to conduct research in more successful manner (Turban and et. al., 2017).

DATA COLLECTION & INTERPRETATIONS

                                                QUESTIONNAIRE

Q1) The implementation of Social media are effective for growth and success of economy?

Frequency 

Agree

36

Disagree

4

Q2) What are the main technique which are provided by Quint Group Ltd ?

Frequency

High speed Internet

20

Laptop

5

Mobile phones

10

Tablets

5

Q3) In which sector advanced technology are effective?

Frequency

Information sharing

15

Connecting People

8

Maximising productivity

8

Achieving competitive edge

9

Q4) Are Social media valuable and beneficial for organisation in order to enlarge their business operations?

Frequency

Achieving talented employees

16

Merging two small business firms

12

Proper utilisation of resources

12

Q5) In which sector Quint Group Ltd is giving their services?

Frequency

Information and Technology sector

15

Education Sector

5

Hospitality Sector

5

Marketing and Finance sector

15

Q6) What are the advantages of implementing social media at work place?

Frequency

Attainment of revenues

10

Gaining attention of customers

15

Enhancement in productivity

15

Q7) Do you satisfied with the given services of Quint Group Ltd?

Frequency

Satisfied

30

Not Satisfied

5

Partially Satisfied

5

Q8) What rating would you like to give to the preferred services of organisation?

Frequency

Excellent

25

Good

10

Average

3

Poor

2

Q9) What measures are used by Quint Group Ltd in order to retain customers for long time?

Frequency

Utilize customers account

10

Effective and innovative products

10

Training and development program

15

Quick response on customers request

5

Q10) Is digital technology are effective in accomplishing competitive edge at market place?

Frequency

Yes

30

No

10

Q11) Give recommendation on building effective relationship with customers through implementing social media. .

Theme1: Implementation of social media

Q1) The implementation of Social media are effective for growth and success of economy?

Frequency 

Agree

36

Disagree

4

Findings: According to the above graph, it is clearly visible that most of the respondents are in favour of comment that adoption of social media gives maximum contribution in growth of an economy. Out of the total 40 respondents, there are 36 respondents who thinks that social media enhance the growth of economy whereas remaining 4 respondents doesn't agree with the rest due to having their different opinions.

Theme 2: Which type of technique's are provided by company

Q2) What are the main technique which are provided by Quint Group Ltd ?

Frequency

High speed Internet

20

Laptop

5

Mobile phones

10

Tablets

5

 Findings: According to the above graph, it is clearly seen that internet is the first preference of respondents which are needed to be provided by Quint Group Ltd. Among the 40 respondents, there are 20 respondents who are in favour of high speed internet whereas 5, 10 and 5 respondents thinks that Laptop, mobile phones and Tablets are required to be provided by company respectively.

Theme 3: Effectiveness of advanced technology

Q3) In which sector advanced technology are effective?

Frequency

Information sharing

15

Connecting People

8

Maximising productivity

8

Achieving competitive edge

9

Findings: From the above graph. It is clearly identified that implementation of advanced technology brings more profitable outcomes in information sharing sector. Among the 40 respondents, there are 15 respondents who thinks the same whereas 16 respondents thinks that digital technology will be more useful in connecting people and maximising productivity respectively. The remaining 9 respondents thinks that it will be beneficial for achieving competitive edge.

Theme 4: Benefits of social media

Q4) Are Social media valuable and beneficial for organisation in order to enlarge their business operations?

Frequency

Achieving talented employees

16

Merging two small business firms

12

Proper utilisation of resources

12

Findings: It has been seen clearly visible from the above data that social media contributing maximum in the growth and expansion of business operations. Out of the total 40 respondents, there are 16 respondents who thinks that social media will be helpful in acquiring skilled and talented employees for an organisation whereas 12 respondents thinks that it will be helpful in merging two small business firms. The remaining 12 respondents thinks that social media help in utilising available resources in an optimum manner.

Theme 5: Which sector business provide their services

Q5) In which sector Quint Group Ltd is giving their services?

Frequency

Information and Technology sector

15

Education Sector

5

Hospitality Sector

5

Marketing and Finance sector

15

Findings: It is clearly identified from the above graph that  it will be beneficial for  Quint Group Ltd to provide IT and marketing & Finance services in competitive market. Among 40 respondents, there are 30 respondents who thinks the same whereas remaining 5 and 15 respondents thinks that  Quint Group Ltd should required to engaged in providing education and hospitality services in the market respectively.

Theme 6: Advantages of social media

Q6) What are the advantages of implementing social media at work place?

Frequency

Attainment of revenues

10

Gaining attention of customers

15

Enhancement in productivity

15

Findings: As per the above given information it has been concluded that social media is more essential for the organisation. 10 out of 40 respondents are agree as it support the organisation to increase their sales, 15 are favour in this as it benefited to maximise customer attention and remaining are agree about it help in enhancement of business productivity.

Theme 7: Satisfaction level of customer towards business services

Q7) Do you satisfied with the given services of Quint Group Ltd?

Frequency

Satisfied

30

Not Satisfied

5

Partially Satisfied

5

Findings: From the above given graph that determined the satisfaction level of the customer towards business services and products. Beside this 30 out of 40 respondents are satisfied, 5 are not satisfied and rest of the population are partially satisfied.

Theme 8: Perception of customers about business services

Q8) What rating would you like to give to the preferred services of organisation?

Frequency

Excellent

25

Good

10

Average

3

Poor

2

Findings: According to the above mentioned graph it has been determined perception of customers towards business services and products. Beside this perception of 25 out of 40 respondents are excellent, opinion of 10 respondents are good, 3 has average perception and rest of people has poor response about business services and goods.

Theme 9: Kind of measurement are used by the company

Q9) What measures are used by Quint Group Ltd in order to retain customers for long time?

Frequency

Utilize customers account

10

Effective and innovative products

10

Training and development program

15

Quick response on customers request

5

Findings: As per the above given graph it has been determined that different types of measurement which is used by the Quint Group Ltd. Beside this 10 respondents are agree about utilisation of customers account, 10 are agree to provide effective and innovative products, 15 are needed training and development and rest of the population are agree about Quick response on customers request.

Theme 10: Effectiveness of digitalisation

Q10) Is digital technology are effective in accomplishing competitive edge at market place?

Frequency

Yes

30

No

10

Findings: From the above mentioned data it has been concluded that digital technology help in accomplishment of competitive advantages at marketplace. Beside this 30 out of 40 respondents are agree and rest of the population disagree about this statement.

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Communicate research outcome and results in an accurate manner for the intended audience

According to the mentioned company Quint Group Ltd is one of the leading innovative fetch group that operate as wide number of fetch businesses and online guest brands. As an effective business owner, they have an advantage that comes to build reliable customer base for the company in coming future time. The size of Quint company allows researcher to reach at individual at more personal level as compare to larger business organisation. In order to create healthy relationship with the customer, they need to keep them strong bond with them. Some of the essential ways through which relationship can be develop is being discussed underneath:

Communicate: It is an important for good relationship that communication is an essential way that build healthy relationships. Making promotion and listening to their customers both are equally beneficial for an organisation. By maintaining an employee policy in requiring time follow up to make sure that customer desires can be met in proper manner (West, Ford and Ibrahim, 2015).

Exceed expectation: It has been found that customer used to expect large number of product and services from an organisation. They want to get more benefits for their hard work. It is essential for the company to deliver a product faster than anticipation. In case products reach to them beyond their expectation.

Ask for feedback: Customer need to have a strong and bad opinion regarding their business, they will make its feelings known. By collecting necessary feedbacks from various customer they can easily be able to reach at solutions. It can be gather by placing comment card on their business counter or by conducting specific research or survey (What is the social media marketing, 2018).

Show appreciation: The best think that would attract the customer is to show them some kind of appreciation. It can be paid by rewarding their hard work with a loyalty discount plan. By this program they can earn point for purchasing their products and services.

The importance of using social media tools in business operations of Quint Group Ltd

Social media is an effective communication tool which help in building healthy relationship with the targeted customers by reaching the information about the products and services offered by Quint Group Ltd. It helps in identifying the perception of respondents through providing them an option of giving feedbacks related with the quality and price of products and services offered by Quint Group Ltd.  It assist company in utilising gathered information in business operations so as to develop and enhance the profitability of company and achieving growth as well in competitive market.

Evaluate the influence of social media tools in building relationship with customers on a global scale

Social media assist in connecting people across worldwide within minimum time and cost thus it gives an opportunity to company to use such platform to communicate with their targeted customers and influence their interest and buying behaviour towards the products and services offered by Quint Group Ltd. Social media platform is also more helpful in resolving all customer issues related with products and services through giving them proper solutions and suggestions (Advantages of social media marketing, 2018). It will help in achieving loyalty of targeted customers and retaining them for longer period of time. Social media platform is not only for attracting local people as it become easy for company to grab an eye of outsiders through making proper communication with them and resolving their all queries related with the products and services.

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Conclusion, Recommendation and reflection on the research process

CONCLUSION:

As per the above mentioned report it has been concluded that digital technology are most effective and essential in developing business performance and profitability at market place. Marketing survey and questionnaire was plays essential role in evaluating the effectiveness and importance of digital technologies in regards to heighten company performance and development. As per the study it has been analysed that large number of customers are feel happy or satisfied with the given goods and services of business entity is very much emphasised on enlarging their business operations and activities at different geographical field. In this social media are more effective and important in utilising optimum resource for increasing productivity and profits. Proper and accurate application of digital tools are effective in attaining higher competitive advantage at market place. Therefore social media is essential and effective tool for the development and growth of the organisation in marketplace. In this researcher conduct questionnaire which support them to analysis proper response of the selected respondents.

RECOMMENDATION:

From the above report, there are various things which requires to be recommended like application of digitalisation into an enterprise as well as into individual life is extremely essential  and gives different types of advantages. It is extremely suggested that each and every business  should adopt advanced technology and turn digital so that advantages can be help and possibility of error and mistakes can be decreased. Further another components which can be advisable is that for maximising customer response customers and capturing large number of market share, it is required to follow digital technology into different operations and activities so that awaited outcomes and results can be obtained. Apart from that company should used another essential tool such as mobile application, robotic, E-Commerce and other medium of digitalisation.

Reflection on the Research:

Reflection:

Research forms an integral aspect of where in research methodology plays critical part in effectively and efficiently conducting research and associated activities  For getting an reliable  result it is of utmost importance to collect proper data and  information from various authentic sources and to properly analyse and interpret it. For research undertaken both primary and secondary sources of data collection are taken into consideration by researcher. However, secondary data proved to be more useful in getting literature review that helped in finding out view point of various authors and writers in context of  the research. Primary data  for the same research is gathered through surveys with help of questionnaire to get relevant feedback and opinion from the respondents. Questionnaire is one the most important and efficient method for collecting information by making the sample people of the survey to fill up their response. It needs to be precise, specific and  interesting to get most appropriate and real responses.

Alternative source:

 There  are various methods for undertake research in an efficient and most appropriate manner. Out of which I have used questionnaire method with  the aim to get access of most genuine and authentic information and data from respondents. Besides questionnaire however there are various other methods as well that could be taken intro consideration for collecting useful information. One of such alternative is to take interviews directly from the people that reveals  most appropriate information. Also, It is less time consuming to take views and opinions  from the person itself which reduces chances of them  getting confused from the way questions are being framed as interviewer could explain them the relevance and context of the questions. Therefore, it is evident that interview forms better choice besides questionnaire that I could take into consideration for collecting relevant and trustable information from individuals. It will thus enhance chance of attaining profitable results.

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REFERENCES

Agnihotri, R. and et. al., 2016. Social media: Influencing customer satisfaction in B2B sales. Industrial Marketing Management. 53. pp.172-180.

Ahmad, N. S., Musa, R. and Harun, M. H. M., 2016. The impact of social media content marketing (SMCM) towards brand health. Procedia Economics and Finance. 37. pp.331-336.

Aichner, T. and Jacob, F., 2015. Measuring the degree of corporate social media use. International Journal of Market Research. 57(2). pp.257-276.

Baker, M. J., 2016. What is marketing?. In The Marketing Book (pp. 25-42). Routledge.

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