Assignment 4

Internet Technology, Marketing and Security

Melody Walton

BUS 508 Contemporary Business

Dr. Ron Steffel

June 1, 2013

Evaluate the reasons Social Media marketing has become exceedingly popular among businesses of all sizes. In today’s business world one cannot operate their business without having some type of advertising source such as a website or other media source. Over the past few years there has been a boom in the usage of social media usage. Creating a business and having the ability to promote with the proper tools is key to your business success. Social media is a tool that helps businesses build a platform and client base that would not be accomplished with just a traditional website. Social media is now more popular than ever, utilization has grown at a rapid pace for businesses large and small with or without a marketing department. Social media rants a business the opportunity to reach out to markets they would not have had access to before. Smaller business needs may vary differently as far as the usage of the social media based upon their needs compared to those of a larger business. As a business owner you must know the needs of your business and what tools are necessary for longevity and customer loyalty. Using social media helps develop a client base who recognize your product, service, or brand. Individuals today have computers, iPads, smartphones and other devices that are used on a daily basis. These devices are used for research, connecting with friends and family, searching websites and social media. The average person may spend more than 10 hours a week on a social media site, with this being said what better way to reach the consumer. The younger generations are more technology savvy, and tend to rely on the most trendiest and latest device on the market. Having the most current device means being aware of the most popular information tools available, which means the opportunity to spread information will travel faster. Social media allows businesses of all sizes to market their products, offer specials and promote their brand as well as increase their presence. Social media for businesses can increase exposure products sold, increase sales and help reach out to consumers not only on a local level but on international level as well no longer are businesses and entrepreneurs restricted in what they are able to target.

Analyze the advantages and disadvantages of Social Media Marketing for business entrepreneurs. As an entrepreneur, decisions have to be made regarding business needs and what meets those needs. Thinking of the best way to promote a business can be challenging sometimes, deciding which type of media is chosen. When deciding upon which medium to use the pros and cons, the long and short term goals of the business and financial investment must be considered. To help guide in the decision-making process entrepreneurs should consider the following advantages and disadvantages of using social media marketing for business needs relating to advertising.
Advantages
If getting a business to reach out to a particular target market very quickly, social media is the way to go. Since social media is grouped or categorize you can reach the right group of people, if you are in the business of taking care of dogs for example you want to reach out to a mass amount of dog owners there is definitely a high demand for dog sitting. A business owner can filter their target audience. The message about their business and with just one click the process has started for one person to read and then another and another. The results of having a social media account are almost instant you can receive instant messages and feedback from new customers as well as existing customers regarding their needs. Having a social media site increases visibility of your business especially new ventures as well as a. Social media sites grab the attention of those looking for a specific item, good or service. With an existing website social media account can increase your sales due to the additional traffic that is generated by the number hits your account receives. You're able to interact with your customer(s) that may have questions or feedback quicker than you would with a regular website
Disadvantages
Some of the disadvantages of social media marketing are deciding not to choose a professional to guide with the creation of the site. If the site is not set up by a professional or expert you may end up losing money over a period of time. Research is key for making the best decision for using a social media site, if assumptions are made for his goal it can be a setback for the business. As the business owner decisions must be made for which networks would be best for their needs, and figuring this out can sometimes be more involved than imagined. Figuring out the best way to reach out to the customer can be a challenge without a strategy and goals, without the support tools the entire direction would be pointless. You can expect customers to know how to use the page if this content is not clear and concise for your needs, you must spend time with professionals with expertise in social media to help develop your tool precisely. As the entrepreneur or business owner you must be able to manage your account after it has been developed taking accountability means a lot. You are engaging with customers, meeting their needs or even updating information as needed, providing feedback, and addressing questions. Customers are given the impression that their feedback and information are not being utilized were addressed they will not be dedicated to using the site for long periods of time and eventually leave. Creating your account and ignoring its direction and customers can definitely be a quick way to tarnish her reputation as a business owner. Once a customer has a bad experience it will spread very quickly not just by word of mouth but on your social media site as well. The business owner must be ready to accept feedback whether it is negative or positive promptly to maintain a level of excellence and loyalty with customers. As an entrepreneur you cannot rely on someone else to maintain your account you're responsible for your own success if you're not ready to take on the additional responsibilities of having a social media site and the maintenance and involvement, this may not be the route one should consider to promote their business.

Assess how Social Media Marketing is helping Pepsi gain more customer insight than it would otherwise. Since Pepsi decided to use social media marketing they have been able to reach all types of markets and communities who have been able to visit their site with the Pepsi Refresh Project the company allow themselves to boost their marketing concept like no other. Not realizing how fast responses to come in from using Facebook and Twitter as the main search engines for promoting the project. Since the project involves submitting ideas for videos from music, art, education and community each month for the public to vote on the website, the number of responses surpassed expectations. What exactly was the goal for Pepsi when they created this project and what was the company objective? Was the objective to reach out to consumers to purchase more of Pepsi products due to the publicity of the contests but give individuals the opportunity to stand out with the talent within your community. Awarding grants for those with winning projects with great but at what cost to the company and this long-term financial goals. Social media marketing has helped with this particular project which words will lead to others in the near future based on success of this one. The marketing concept was to reach out to the customer with the contest based on achieving long-run success, when the project was launched for another year the approach was based upon pledging twice as many projects as it had in its first year. This was the way to continue to keep consumers loyal to the project as well as keep up with the number of people that viewed and used the site. Pepsi was looking for consistent followers to the project and dedication from a particular audience and market, the goals were achieved but how would retention of the contestants be held from year to year.

Research two (2) other businesses that have used social media marketing to their advantage. Discuss how each of these businesses has utilized social media marketing and provide examples with your discussion.
Company 1 The Coca-Cola Company uses social media marketing to their advantage by utilizing Facebook, Google, Twitter and YouTube as their media tools. Coca-Cola uses social media to empower, filled and represent their company and share positive things about their brands. Coca-Cola employees engaged in conversation that is fun, smart and comfortable, just as they would without the media space. Values are used as a guide to the social media community that should be followed precisely, any misuse or inappropriate behavior is forbidden and consequences do follow. There are five core values of the company regarding online social media representation they are transparency, protection, respect, responsibility and utilization. Coca-Cola strongly promotes their company values into the social media activity, any misuse of misrepresentation of the company by an employee, vendor, blogger or consumer will not be tolerated on any level.
Postings and information should be accurate and convey a positive message at all times, even though it is online media there are still legal standards that must be followed. One of the popular social media items launched was the Polar Bear Snowman that we often see around the holidays, it was called the “Artic Home in London” which allowed followers to post and share their pictures of the polar bear ideas using snow and coke. Since we have become used to seeing the white polar bear associated with the red trademark canned brand, we automatically know the relation to the company and how it represents fun, snow, holidays and tradition. Coca-Cola also uses social media marketing to promote and share stories about how the company is doing and being represented worldwide. Coca-Cola has a facility in Atlanta, Georgia for tourists to come in and see the different types of original memorabilia from the founding of the company until now, there is a tour of the building, a film about the company in a nice auditorium with red theatre seating that moves according to the actions of the film as well as sprinkles water on you as if you were on a ride at an amusement park. One of the things that was interesting was the fountain area were one can taste all of the brands that Coca-Cola produces in the US and internationally, since foreign markets have different cultural needs the food and drinks are not the same as they are here. Still representing the company but catered the taste of the brands to each market. Coca-Cola is a diverse company with the ability to reach a large markets before social media, now the boundaries are endless.

Company 2 Procter & Gamble is known for many brands that we use on a daily basis in our homes such as household products and personal care. Some of the items we are familiar with are Downy, Dawn, Gain, Safeguard, Head & Shoulders, and Pantene. With over sixty plus items that are produced and manufactured by Procter and Gamble there is a large consumer base all across the country. With so many brands being represented the company has to stay innovative and think of ways to reach out to their markets to provide information, updates and changes that may occur with their products. Procter and Gamble uses social media as a way of building, listening and engaging with its customers, stakeholders and employees. Their social media policy focuses on using good judgment and following the purpose of the company as well as its values and principles. Procter and gamble uses social media marketing to its advantage for productivity and collaboration of sharing ideas internally and externally. The social media sites and tools used by Procter and Gamble are Twitter, Facebook, Google, Xing, MySpace and more to reach broader groups for continued interaction, sharing and evolution. Employees are able to engage through social media as representatives of the company when engaging in any activity. On Facebook follower are able to find the latest updates and information about the company as well as career information, promotions and coupons. Staying abreast of events that could impact its brands and have a bearing on customers is the focus of its usage for Procter and Gamble. Twitter followers increased in massive numbers when there was a new twist placed on the famous laundry detergent Tide. Tide was used to cover a very large fuel spill at the Dayton 500 speedway race. The marketing department decided to use this as an opportunity to re-invent Tide as more than just a product for cleaning clothes but a product for multi uses around the house, therefore creating a new awareness for the product which means longer sustainability in the company.

Speculate what impact Social Media will have on businesses over the next decade and identify what skills you need to improve to take advantage of the changes.

Social media has really been a key element for companies reaching out to their consumers and markets with communications and marketing. Nearly all businesses use some type of web traffic for their business which brings business leads and increased sales and customers. Facebook, Twitter and LinkedIn are todays most powerful social media tools for social networking. Business owners large and small are understanding the relevance of social media and its impact, as far as the impact it will have on the business is up to the entrepreneur. Sometimes the long and short term goals must be considered and what advantages and disadvantages social media will have on the business, right now the market is an emerging industry. With the changes of technology taking place on a regular basis, who is to say that this will remain the most popular way to reach people. Over the next decade there can be a entirely new medium of reaching markets developed that will top off social media networks, don’t underestimate the power of technology. As a business owner it is critical to keep up with what works best for the company and its success and knowing what tools are needed to make that happen to retain customers and loyalty.

References
Bosari, Jennifer, (August, 2012) Forbes Magagzine - “The Developing Role of Social Media in the Modern Business World”.

Mylant, John, (October, 2012), Seeking Alpha - “Procter & Gamble as a Leading Global Success”.

http://www.pg.com/en_US/sustainability/privacy/social_media_policy.shtml

http://www.pepsi.com/en-us/d/

http://www.coca-colacompany.com/our-company