Social media is a platform of online communication that is dedicated for the individual’s input, interaction and content sharing; it is usually community based, so someone from the UK will get content about the UK. However, due to the growing globalisation and the interconnected technology, the internet world is heavily used by the business as a promotional tool and for general networking, like business to business (B2B) and business to consumer (B2C).
The structure of social media today increases the freedom of information, which means any content someone shared is being circulated over the internet. This resulted in the change of structure in influence. Society is becoming more and more consumed by the content shared in social media, leading into unconscious bias and creating a collective value.
Social media therefore cannot be treated separately from the business, it is part of the organisation marketing tool. Management Consultancy firms work with businesses ranging from small to large, private or public and different institutions to provide them specialised services that operates in different business sectors such as; Human Resources, Financial Service, Research & Development, Consultation, ISO etc. The purchase decision in management consultancy industry varies depending where the firm is based. For example, in Nepal they have more clients that are looking for low cost service, they want the convenience and inexpensive service. Whereas in the UK, they focus more on efficiency and productivity, which means they want to maximise the input and output to achieve the most profitable result. In general, this consulting service is used mostly for the specialised skills they offer that fill the skill gap of the client’s organisation or a temporary highly skilled employees that can work on a challenging project.
Management consultancy Industry is client driven. Thus, social media is an essential part of the firm, as it has the power to influence their potential clients.
The service industry is growing; therefore, it is important for the firms to establish brand awareness to increase their visibility in the industry. For example, when the firm is being recommended by their previous clients and being mentioned/acknowledged by different organizations or institutions, it will influence their potential client as this will show their credibility and legitimacy.
Each social forum has the power to manipulate the image of the firm, as it allows firms to communicate their value, passion and culture to their client, this will also help them target their niche market in the industry. Hence, the content the firm shares is very important; correct message will lead to sales. This is because, the client uses the network as one of their sources of information. Firms release content that relates to their client wants and needs.
The consultancy firm must have a presence in the top leading social network to stay competitive. Social media should not only be used for advertising, due to the nature of the society it is today; people rarely look at advertisement. Henceforth, it is used as a strategic approach in marketing; engagement with the clients to showcase their factors to attract and influence clients; it is even used to remind previous/current client what the firm’s value is.
The management consultancy industry highly recognise the digital, technology growth and its importance in influencing the firm and its clients. Advancement in the technology world can be both an opportunity and a threat to the industry. Nevertheless, Social media is an effective form of communication between the company and their clients. It is a powerful tool for both understanding their clients and gaining potential clients.