ࡱ>  bjbjVV 4<<2, (  )))===8u<=6=(e{^5555555$48:H5i)5))/B6P P P ))5P 5P P 01[L=05X60606;P ;,11;)2P 55P 6; : USING SOCIAL NETWORKS IN A SMALL BUSINESS ENTREPRENEURSHIP Senka Borovac Zekan, mag. oecc  Katja Rakuai Cvrtak, mag. oecc dr.sc.Neven `eri ABSTRACT INTRODUCTION Small Businesses give a significant impulse to economic growth and development of each country. The business environment today is changing faster than ever thanks to advanced technologies. Competition in almost every industry has become more intensive. Considering the above, companies are becoming aware of the importance of adjusting their businesses to the target market in the best possible way in order to stay competitive. We believe that social networks today are the integral part of the communication with the target market from which small businesses cannot and should not be run from. Instead of, these networks should be used as a marketing tool in order to help small business owners successfully manage the process of marketing communication. RESEARCH METHODOLOGY The authors will use the case study method which would help them analyze the example of small business adaptation to the target market segment by using social network as a new marketing channel. Word-of-mouth as an instrument of marketing which is used in communication threw the internet networks is a very popular theme nowadays. Some authors represent word-of-mouth as the newest Holy Grail of modern marketing. This article seeks to analyze the factors of significant influence on the entrepreneurship communication with its target market with special emphasis on the online communication. The authors will use the case study method to present the example of successful women entrepreneur who succeed to cope with the challenges within its industry. Selected case study will show successful marketing communication strategies for managing small business ventures in the selected industry. RESULTS It can be concluded that social networks generate significant benefits for the company through maintaining long-term contact and continuous communication with the final users of their products and services. The results of this study will give clear guidelines to small business entrepreneurs on how to use modern technologies and new ways of doing business online in order to make their brand and their organization better known. Furthermore, this work will greatly contribute those trying to establish their online communication with their clients/customers and stimulate those who still did not think about it. KEY WORDS: small business, social networks, business strategy Introduction Aims and Objectives Consequently, the present research aims to positively contribute to this situation, by exploring whether the social networks are a tool that should be taken seriously by SMEs in their marketing strategies, taking the stance of SMEs how they perceive, use and see the future of social networks for their business. The objectives of this study are informed by the gaps found in the literature review: To explore how particular SME use social networks in its marketing strategy, and the benefits of them, as compared to other marketing tools and finally attitudes towards social networks perceived advantages and disadvantages, improvements needed, and to explore their plans for improvement/future use of social networks in marketing strategies. Methodology For the purpose of writing this paper, the authors used the method of case study. Case study research excels at bringing us to an understanding of a complex issue or object which can extend experience or add strength to what is already known through previous research. Throw this case study we succeed to emphasized detailed contextual analysis of a small company and social networking and their relationships. Findings Through social networking sites, products/companies can have conversations and interactions with individual followers. This personal interaction can instill a feeling of loyalty into followers and potential customers. Also, by using these sites; company's products can reach a very narrow target audience. Theory review Social networks There are many definitions of social networks in the literature, but we will use the one which defines the term social network to represent interpersonal connections between individuals, business units, or organizations These links are not hierarchically influenced and they include information and knowledge flows. We can extract two overarching goals of networking. The first is to transfer knowledge and the second is to facilitate it. Social networks are already a part of most Marketing Management functions these days. Marketing managers have yet to learn what makes social networks successful and how to manage and leverage them to achieve organizational value. A social network can broadly be defined as a set of actors and the set of ties representing some relationship or lack of relationship amongst the actors (Brass et al., 1998). Actors in a social network (people, organizations or other social entities) are connected by a set of relationships, such as friendship, affiliation, financial exchanges, trading relations or information exchange. In the first volume of his seminal trilogy on The Information Age, Castells (1996) emphasizes the openness of networks, arguing that networks are open structures that are able to integrate new actors or nodes as long as they share the same communication codes (e.g. values or performance goals). Porter Liebeskind et al. define social networks as a collectivity of individuals among whom exchanges take place that are supported only by shared norms of trustworthy behavior (1995, p. 7). According to this definition, exchanges that are conducted through social networks are supported by mechanisms of trust, whereby shared norms of trustworthy behaviors may be instilled through different processes. Saying all of this in different language, ways of doing business traditionally have been highly contingent on ways of organizing, and major competitive breakthroughs have been achieved by firms that invented, or were quick to apply, new forms of organization and management. New organizational forms arise to cope with new environmental conditions. However, no new means of organizing or managing arrives full-blown; usually it results from a variety of experimental actions taken by innovative companies. Social media marketing The growth of social media has impacted the way organizations communicate. Using social media for marketing purposes is only a recent phenomenon. Their massive use began since 2008. Therefore, there is limited academic research into this area (Zhao and Rossen, 2009; Jansen et al., 2009) and much of it is focused on the user side, with little known from the companies perspective. In contrast, there is a workable amount of research into the business and marketing benefits of Word of Mouth/ e-Word of Mouth. Facebook has been recognized one of the major representative of e-WOM (Jansen et al., 2009; The Economist, 2010; Trusov et al., 2009; Brown et al., 2007). Consequently, the literature that will be reviewed will deal first with the WOM phenomenon, and will then discuss the benefits of Social network-Facebook. Social media marketing can be defined as the use of social media to create consumer awareness about products and services of a company. Companies are using social media in an effort to sell their products or services. At the present time when the social networks influence a large presence in the life of every individual, companies should use these methods to improve their businesses. To use social media marketing effectively, companies must be perceived as members of the community media, willing to interact with other members. The main problem that is linked to social media marketing is that it requires a lot of time. Social media marketing companies are not used for shorter periods of time. Still, social media marketing is a type of marketing that many small businesses could benefit from, if only to find out more about what their customers are thinking and saying about their brand and their products. Social networking websites allow individuals to interact with one another and build relationships. When products or companies join those sites, people can interact with the product or company. That interaction feels personal to users because of their previous experiences with social networking site interactions. Social networking site like Facebook allow individual followers to repost comments made by the product being promoted. By repeating the message, all of the users connections are able to see the message, therefore reaching more people. In this way, social networking sites act as word of mouth. Because the information about the product is being put out there and is getting repeated, more traffic is brought to the product and/or company. Using a social network to comment on the product and / or services of a company, interaction between individuals is created. In this way it creates and instills a sense of loyalty in followers and potential customers. Also, products can reach a very narrow target audience. Social media marketing represents an addition to personal, small business integrated marketing communications plans. Using an integrated marketing communications organization connects with your target market. Integrated marketing communications contain elements of personal selling, advertising, public relations, direct marketing, publicity and sales promotions. Social media has become a platform that is easily accessible to anyone with internet access Increased communication for organizations fosters brand awareness and often, improved customer service. In addition to the prominent, social networks have proven to be extremely cost effective tool for implement marketing campaigns Business effects of using the Social networking One of the positive influences of social networks is definitely stimulating Word of mouth communication. It refers to oral communication and the passing of information from person to person. Word-of-mouth marketing (WOMM), also called word of mouth advertising, is an unpaid form of promotionoral or writtenin which satisfied customers tell other people how much they like a business, product, service, or event. Word-of-mouth is one of the most credible forms of advertising because people who don't stand to gain personally by promoting something put their reputations on the line every time they make a recommendation.] Ask most small entrepreneurs how they grew their business and odds are they'll tell you it was through word-of-mouth advertising. These entrepreneurs know that in a people business like retail and commercial sales, if you do a great job for someone or if someone is satisfied with your product, that person will tell a friend, who will tell someone else and so on. The same holds true for the opposite. Do a poor job and it seems that customer will tell even more people. It's one thing if these discussions take place on a one-on-one basis. But what if they are happening on the Internet in one of the many social networking groups that are attracting millions of participants? What impact could that have on a business? Do you want a disgruntled customer bad mouthing your business on a social Web site like Facebook-and you don't even know about it? Wouldn't it be better to be tapped into that "community" and resolve the issue before it grows into something bigger? For many small entrepreneurs the Internet is still a foreign entity and the concept of marketing their business on it is something they just haven't found the need-or perhaps the time-to does. But the time is fast approaching when all entrepreneurs will have to include the Internet in their marketing plans if they want to successfully reach and keep in contact with their customer base-for example, through service reminders, "Internet-only" specials and the like. Too many people are using the Web as their primary means of communicating socially for this to be ignored. Some entrepreneurs already have begun to understand how marketing via the Internet and tapping into Facebook and other social networks like Twitter can significantly impact business. Ignoring the Internet and how people are using it comes with some peril. The ways to take advantage of the Internet are many. Entrepreneurs can get on sites like Facebook and Twitter and begin communicating with customers and potential customers. They can provide valuable content on these sites to draw attention to their products and services. The effectiveness of word-of-mouth advertising hasn't changed, but how it's done has. Currently there are various online applications (online feedback mechanisms, viral marketing, social networking, blogging) that are a form of WOM, however, considering the speed, scale and ubiquity of the Internet, many researchers agree that the effects of e-WOM are more impactful, and even different, from those of offline WOM, favoring rapid product adoption or leading to increased sales and brand advocacy through solving product and customer problems faster and cost-effectively (Godes and Mayzlin, 2004; Dellarocas, 2003; Trusov, 2009; de Bruyn and Lilien, 2008; Jansen et al., 2009). Most researchers agree that it is still insufficient research linking social networks and WOM (Brown et al., 2007; Jansen et al., 2009; Zhao and Rossen, 2009). 2009 was the year when 800 million monthly visitors thought life wasnt worth living unless it was documented on Facebook and Twitter (Clark, 2009, p.6; The Economist, 2010). Easy-to-use technologies and sensible privacy control settings allowed social networks like Twitter, Facebook or Linked-in to provide a streamlined experience to an exploding number of users and a valuable tool to marketers, with 53% of them claiming to increase their social media investments even further in 2010 (Davidson, 2009). However, out of all social media platforms in Croatia, Facebook stands out, in terms of both characteristics and growth. Launched in 2004, Facebook gained most of its popularity as a micro-blogging tool in 2009, when it reached 58.5million users world-wide, a 949% increase since September 2008 (Schonfeld, 2009). The specificity of Facebook lies in its instant messages with a default setting public, which means that the essence of events can be transmitted on a large scale across the network, instantaneously (Jansen et al., 2009). That is way some researchers define Facebook asan information company (The Economist, 2010, p.5) or a form of electronic word-of-mouth (e-WOM) communication (Jansen et al., 2009; Zhao and Rossen, 2009), which is the online projection of traditional word-of-mouth (WOM). This is very important since WOM essentially represents the process of conveying information from person to person and it is becoming acknowledged as one of the most effective forms of marketing (Jansen et al., 2009, p.2169). People are connected into complex interpersonal, communicable systems. Family members and friends interact on a daily basis, employees exchange vital information each single day in order to facilitate the functioning of the economic subject that lives out its existence in turbulent environment. However, there also are communication relations that are not intensive and are thus characterized by an infrequent information exchange. This means one could consider social relations in terms of interconnectivity strength. Potential brand buyers can thus vary in a particular way they are connected to others. For instance, they may be very connected, as is the case with friendships or, consequently, be loosely connected, as is the case between acquaintances. These connections, regardless of their strength, enable the flow of information regarding brands, a key information that most certainly interests economic subjects (`eri, 2011). The research has concluded that the concept of word-of-mouth marketing is shocking because a few research results are, at first glance, completely opposing the  common sense (Kotler, P., Armstrong, G., 2008). Case study of successful small business in using social networking Introduction to company Antique Company was founded by the spouses Bauk during the prewar times in the late 1980s. Since they both had tendencies toward creative work, they decided to transform their love of design into a work. Noticing that the market at that time did not provide an adequate supply in the area of clothing, they decided to enter into a business world. Like most beginnings, and this one was not easy and the company has encountered many difficulties. Problems arose in the absence of high-quality local products that would complete the range of supply, so, they decided to make their own production. In the beginning it was the production of small series of clothes at home, which was promoted in his own shop in the center of Split, named Genova. Also, the offer has been completed by the purchase of some imported goods. Additional problems were compounded by the conditions of war in the country, as well as the financial collapse of the high inflation and an unrealistic exchange rate. The company has operated in different market niches, the production of working clothes, costumes for dance groups, theater, prom dresses, etc ... Today the company is focused on three business segments, sales of haberdashery, developing their own brands of clothing, "CroNavy", and producing customized products to customer specification. Cronavy presents a brand in the form of collections of casual apparel for men, women and children. Number of employees at the company's varied, depending on the volume of business, and ranged from three to forty people, as usually occurs in the season when there is increased need for more intensive labor. The company devotes considerable attention to relations with employees, and the interesting fact is that has several long-standing employees, who work at the company since the beginning, which is the result of a positive climate in the company and investment in interpersonal relationships. Through many years of business and thereby gained experience, we can say that the continued persistence in work, communication and customization with an important factor in interpersonal relations, are the critical factors for business success of this company. Marketing mix Today, most engagement in business requires the development of brand, "Cro Navy." Inspiration for the specified product line was found in sailor-style clothing, which is based on a combination of only three colors, dark blue, white and red, with patterned stripes. Given the limitations of the product in relation to use only three colors, materials and design characteristics, it is necessary to continuously innovate in new creations and refreshing collection. The main product features are characterized by a high-quality materials, color fastness, and creative design, which are the main distinguishing factors from competitors. Logo for the collection is selected fish, which adds to the line of identity and symbolizes the marine style. Distinguishing characteristics of the collection is that the product itself presents also a Croatian wearing souvenir. This characteristic of the product is mainly influenced on the choice of distribution channels, which is based on the better-equipped souvenir shops, gift stores in the hotels, airports with an emphasis on tourist destinations on the islands and coastal areas. Considerable attention has been attributed to the formation of prices and product quality, which presents a means of achieving competitive advantage and product differentiation from similar and cheaper low quality products which are mainly sold on local markets, supermarkets and kiosks along the coast. A significant problem facing the company are imitation products in the form of cheaper versions of products from other manufacturers, which distorts the image of the company and are taking away a part of market share. Also, the business is seasonal in nature, meaning that in summer the demand considerably rises, which partly makes it difficult for the business organization. On the other hand, in the winter due to less demand, it is necessary to focus production on other market segments, usually in the form of individual orders sewing and design tailor-made products. Significant role in the marketing mix carries quality promotion. In the communication with customers, the company mostly relies on organized social events in the form of fashion shows, catalog, advertising media, Internet marketing and publicity. Lately, as the one of the most proved effective means of promotion are social networks to which are given increasingly considerable attention because of many advantages over the other forms. Social networks in the business of Antique Free social networks have opened up many possibilities of free publicity, and many companies do business and general presence on the Internet by opening various profiles so people can more easily find subjects that are of interest to them. In the case of Antique, the idea of using social networks for business purposes, entrepreneurs came on the personal experience of using them. Currently, the activities are aimed at one of the most popular social networking site at the moment, Facebook. Once you have identified all the advantages of using social networks in private life, in the form of renewal of business and personal contacts, and the dynamics of the network that provides insight into current events, it was concluded that these advantages may also apply for business purposes. Soon after, the company profile on Facebook social network was launched in the beginning of the 2011. Time on a social network that was so far been used only for private purposes, has now become used for promoting business. Given the multiple business segments, haberdashery and Cronavy brand, it was decided to individually present each segment on a social network, every one to his account, and presented the overall product offer by placing photographs of each product, with details about him. Shortly after opening a profile on a social network, they noticed the many advantages that have contributed to the improvement of operations and access to customers. In the period of existence on the social network, the company has achieved thousands of contacts and their number, and thus the company market grows each day. In this way, it is very easy to introduce a new collection to customers. Also, through a number of users comments of individual activities can easily be assessed efficacy and acceptability of each model, and also get many ideas for future models and improving collections. Also, users are very interesting in the possibility of setting up their own files on the network, and if we add their intercommunication it is possible to create a stronger relationship and loyalty to the brand. Another big advantage is the ability to directly inform customers about a variety of news, but also providing various useful tips regarding the maintenance of clothing, choosing the most appropriate model, providing information about places of purchase, etc. Social media have opened the possibility of communication and interaction among users and encourage them to proactively participate and generate much of the content by themselves. Of the passive role of readers the contents, users have become relevant publishers of messages, news and comments. One of the great advantages are related to the range of target groups who are crossing the Croatian border, and who are widely reporting their satisfaction with products, and publish their comments and ideas about company products. The most important advantages of free social networks that the company realized are: Connecting with people from the identical area and meeting with potential clients/partners Free promotional tool Getting the immediate feedback about products or services from customers Generating new ideas and opportunities for business Building a network of loyal customers who contribute to the promotion of products or services Better connections with consumers and creating a community around the brand that becomes stronger with each new member Social networks do not have a time limit, so are constantly available to companies for promotion and consumers for the consumption Encouraging a word of mouth since the network provides the power of the dispersion of information and dissemination of information faster than any other communication channel Enabled access to traffic statistics and performance of certain actions by businesses and consumers Social networks continuously push the boundaries of technology and tools that facilitate communication and interaction within consumers, and provides many new advanced features for the users. Based on the above, further work is planned to introduce a variety of creative activities to customers in the form of organizing lotteries, coupons and sharing other forms of sales promotion, increasing engagement of visitors by placing a variety of current events by businesses, and encourage users activity and interaction. It also opens the possibility of starting an online store that would be associated with a social network to expand product availability and facilitate customers to select and purchase products. With the numerous benefits that social networks offer to the users, there are also several hazards that need to be careful. It is extremely important to consider what information needs to be reached to the public. A great danger is the greater access to information from competing companies, thus increases the possibility of unfair competitors facilitates the ability to copy the ideas and concepts. Taking into account all the characteristics of social media, the benefits are indisputable, and it is obvious that the future of communication with customers see the continuous interaction and investment in social media. Given this situation, in te future, company plans expansion on several other significant social networks in order to achieve greater reach of target groups and complete benefits offered by social networks. What is very important to emphasize communication in social networks is the importance of continuing to refresh the content on the network, constant communication and contact with customers, and regularly responds to their queries because otherwise it might be created an impression of carelessness on the user. It is certainly necessary to constantly keep abreast of new advances in technology, media and listen to the ways in which to achieve better communication with customers, which ultimately helps to better adaptation of products and services to them. Today it can be concluded that the existence on the social networks are increasingly becoming a necessity rather than a comparative advantage for the companies. Conclusion Social networks represent an increasingly important voice and channel of communication with target groups, customers and potential customers. Thanks to the multitude of positive effects on business, are becoming more widespread and accepted form of marketing communication with the market. As a part of web promotion and Internet marketing tool, contributes to increasing the brand's personality and helping to encourage communication and spread information by word of mouth marketing in a very simple and affordable way. Due to their accessibility, social networks are a very useful tool for small businesses with limited marketing budgets, however, their use is becoming more noticeable in the case of large, as Croatian, and global corporations such as Kra, T-Com, Vip , Ikea, BMW and many others. It is certainly no doubt that social networks in the future represent a significant potential of Internet marketing for a number of benefits they provide, among which we can single out an interactive and personal approach to business and client where the communication is developing synergies that so much could not be accomplished solely by using the classical forms of promotion. Social networks also provide a valuable tool that can easily be combined with other forms of promotion and their characteristics greatly contribute to the creation of a holistic approach to marketing communications, and thus a greater awareness and impact of the campaign on the users and the feedback from them as well. Analyzing this case study we came to several conclusions. By using modern marketing tools, it is possible to not only survive, but thrive in the market in this crisis despite the present recession. While other companies are distracted by the economy, the companies who cultivate relationships, look for new customers and investigate new channels shell succeed in the market. By new channels, we mean primarily on the use of social networks in business purpose. An executive with proper technological support who handles all data collection and analysis, and base buying and strategic decisions on that data has an invaluable role in social networking strategy and thus in a company success. Companies who take proactive steps to grow during the current storm will not only safeguard their position, and catch up with the competition, but will defeat it in the long run as well. 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Wangenheim, F. and Bayon, T., (2007): The chain from customer satisfaction via wom referrals to new customer acquisition, Journal of the Academy of Marketing Science, vol. 35, April, pp.233-249 HYPERLINK "http://sbinfocanada.about.com/od/socialmedia/g/socmedmarketing.htm"http://sbinfocanada.about.com/od/socialmedia/g/socmedmarketing.htm (19.07.2011) HYPERLINK "http://webtrends.about.com/od/web20/a/what-is-social-media-marketing.htm"http://webtrends.about.com/od/web20/a/what-is-social-media-marketing.htm (19.07.2011)  University of Split, University Centre for Professional Studies, Livanjska 5, 21000 Split, e-mail: HYPERLINK "mailto:sborovac@oss.unist.hr"sborovac@oss.unist.hr  University of Split, University Centre for Professional Studies, Livanjska 5, 21000 Split, e-mail: HYPERLINK "mailto:krakusic@oss.unist.hr"krakusic@oss.unist.hr  University of Split, Faculty of Economics; Matice hrvatske 31, 21000 Split, e-mail: HYPERLINK "mailto:nevseric@inet.hr"nevseric@inet.hr  Raymond E. Miles, Charles C. Snow, (1984), "Fit, Failure, and the Hall of Fame," California Management Review, Vol. XXVI (Spring 1984): 10-28.  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