...Essay In today’s society, Social media is everywhere. Almost everyone you know uses at least one social networking site. There is Facebook, Twitter, Instagram, YouTube, and so many more. Most people who use these social media sites, use them to communicate and interact with their friends and family. However, many people may not realize that these social media networking sites play a major role in the business world. Social media sites play a huge role in a business’ success because it is because it gives them the ability to create a network with new people, market their business, and reach a larger market. The first role that social media sites play in a business’ success is that it gives them the chance to network with new people. When using social media, business executives have the chance to meet and network with new people. They may be able to meet new people to network with through their friends and family on the website. They may also meet new people that are in the same industry through different groups on the networking sites. When business executives are able to network with new people, it helps to grow and expand the business which will lead to the business’ success. The second role that social media sites play in a business’ success is that it gives them free marketing. Most business spend a lot of money on marketing and advertising. With social media, they can advertise and market their business themselves. For example, business executives can create pages...
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...Abstract This paper will discuss how social media marketing has different effects on businesses including the way Pepsi Co refresh project used the marketing strategy to boost its sales by advertising in a different way. The paper will discuss social media with two businesses in case studies and showing how it could help or hurt the companies. The paper will talk about the different types of social media being used in the businesses today and how they are helping to expand the success of the companies. The paper also will discuss the disadvantages and advantages of using this type of strategy in the business to help grow rapidly and steadily. A business organization should consider numerous things when trying to be successful. The company has to take in account what product or service to offer to the consumer. Companies should also consider how the product is going to be marketed. This brings us to the 4 Ps of traditional marketing strategies should be considered for the success of a business which are pricing, placement and promotion. However, marketing strategies alone do not ensure a successful business (Freeman, 2009). There should also be a lot of research done before developing a product. A business will only be successful if it’s earning profits (Boyd & Ellison, 2007). This happens when the company has the right mixture of products and marketing strategies. Business organizations that have been successful in including traditional marketing strategies in the...
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...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...
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...shaving razors to man based on a monthly subscription. Michael Dubin was the founder and he used digital media to achieve a goal of getting more customers but also to get investments from big companies. The prices range from a $1 to $9 a month based on what type of razor blade customer chooses. The idea of selling razor via subscription came to the owner Michael Dubin because he have heard of many man complain of the prices of razors in stores. At the begging of launching his business, he spent months driving down San Diego to connect with bloggers to spread the word. However, it was difficult and he decided to make a video to tell the story of buying a razor via subscription. After launching his video on YouTube it has been seen almost 10 million times. In the first 48 hours of launching the video, he had 12,000 orders placed. After the launch of the video the business kept growing, Dubin struck a deal with many investors, which helped him, grow the company. Today the business is valued at $615 million, what started, as a video ad now is multi million-dollar company. With the use of digital media, Dubin was able to attract customer to purchase the subscription. He used several strategies that helped his video ad be successful such as making a funny video, launching it a the right time, using funneling marketing strategy, and creating a call to action within the video. His success was measured based on customers sharing the video and money earned. Goals of Individual ...
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...Running head: SOCIAL MEDIA AND THE BUSINESS WORLD TODAY Social Media and the Business World Today Juan Smith Abstract This paper discusses the many different types of social media and how companies can utilize them to increase the company’s profitability and overall success. Many examples of well-known companies are illustrated throughout the paper. It also gives some tips on ways companies can be more lucrative with social media. Social Media and the Business World Today How important is it for companies to be involved with social media? Isn’t that just something for people to post pictures of their dog on, to talk to their friends on, or even to post silly jokes on? Not exactly. Social media is so much more than what it sounds like. Many people and companies do not use social media to be social at all. When utilized correctly, it can be used to win over new customers, retain current customers, and to even promote sales. To begin, there are many different types of social media. To name a few, there are social networking sites, blogs, microblogs, professional networks, and even video or photo sharing sites (23 Types, 2010). A social networking site (SNS) is a website that allows its users to create profiles in which they share with other users of the site whom they have deemed their “friends” (Social Networking). Most people use SNS’s for staying in contact with friends and family; however, it can be used for business purposes as well. Examples of a SNS...
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...legally astute social media marketing manager who utilizes social media outlets for consumer transactions and how each component can mitigate the risk involved in doing business in cyberspace. Also, it will list and analyze methods of alternative dispute resolution and determine which would be most effective in resolving genuine disputes that arise with consumers who may make purchases from businesses that provide links via social media. I will also determine how the federal government can best control these transactions, since consumer transactions on social media can occur across state lines. In addition, I will also examine the three branches of government and discuss which can effectuate the most significant impact on regulation consumer transactions via social media outlets. Finally, I will explain the agency relationship that exists on social media sites between the social media provider and businesses that utilize the site for advertising. Facebook is the ranked number one is social media sites. The statute of this popular social media site is where users can share their ideas and feelings about events in an open environment. People exhibit this by writing statuses. The site is used to share pictures, videos, and other points of individual interest with the rest of the world, or at least the selected people that are able to view their profile. A growing trend, however, is the use of Facebook as a social media marketing area. Through social media many entrepreneurial...
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...companys social media marketing has become a very important strategic operation within the last years due to the changing habits of the population. More than one billion people worldwide are using facebook actively nowadays and the number is still increasing. (Chart no. 1: (Brandt, 2012, Statista)). Therefore companys need to adopt to this dramatic change in communication and have to be present on social platforms, to stay in customer contact and build relationships (Edelman, D.C. (2010), “Branding in the digital age“). This term paper deals with the question wheater social media marketing is an opportunity or threat for Mc Donalds, in particular Mc Donalds Germany. Although social media is a must-have for companys nowadays and nearly twenty thousand firms have a facebook page for their business, social media could be a threat for companys. Especially fast food restaurants are often criticised by protestants and social platforms are perfect places to make their criticism public. So businesses need to evaluate wheather social media is an opportunity or threat for their performance. My thesis statement is that social media marketing is very effective for companys as well as for Mc Donalds and possible threats do not represent a serious danger for them. Importance of social media for companys nowadays Social media marketing is a type of onlinemarketing, where companys use social media for several purposes. There are several possibilities to use social media for business...
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...SOCIAL MEDIA MARKETING Bizuayehu D. Weretaw Submitted to: Professor Yohannes Abate, PhD. Contemporary Business (BUS508) Strayer University, Takoma Park Campus November, 2013 Introduction In these days of technology, our daily activities and social interactions are becoming dependent on social media. This is not limited to people who are living in most advanced countries but in less technologically advanced countries as well. This, in other word, indicates that social media has become a global phenomena. Published and unpublished sources show that over a billion of people around the globe visit social media at some time regardless of the amount and nature of use. Understanding the ever growing number of subscribers, software programmers are developing various social media platforms considering the cultural and linguistic background of the user society. The most popular social media sites, as most of witness or could guess, are the Facebook and Twitter but the Chinese Qzone, the Orkut of the Brazilian (which is owned by Google), Friendster of the Malaysian and other less popular social media platforms are already in the market being visited by their respective users. Some of these social media take in the form of social networks, some others take in the form of internet forums, social blogs, pictures and videos, etc. For individual user, social media may be entertaining or the user have fun simply by interacting with his friends or groupies or listen to a...
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...across the street. In my research I found that Starbucks crushes it on social media. Although they don’t post on each and every social network often, but when they do it is very clever and eye-catching. In this day in age people are starting to use the Starbucks app which allows them to do just about the same thing as if they were in the store. Them two reason alone is what has them on top of Dunkin Donuts. Dunkin Donuts Strategy Recommendation Introduction Dunkin Donuts was founded in 1950 by Bill Rosenberg, who opened the first restaurant in Quincy, Massachusetts. With the goal to “make and serve the freshest most delicious coffee and donuts quickly and courteously in modern well merchandised stores” (Travis, N. 2013). The company has over 11,000 restaurants in 33 countries worldwide. The first restaurant was franchises in 1955. Starbucks Social Media Now to take a look into the social media of the competitor Starbucks. In my research I found that their social media management team doesn’t post updates on Facebook often but when they do, however, they’re usually eye-catching and clever (Huff, T. 2014). On Twitter they like to reach out to anyone that talks about there in-store or product experiences. I seen it myself when you go to their twitter page and someone tags them to a tweet they will reply to the tweet and send the company number and times to call and fail a complaint. The social media team at Starbucks has a great way of making customer on...
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...Trends: Social Media What is Social Media? It feels like the term social media is used more and more everyday. Social media has become something that has transformed the way we interact with one another. In basic terms, social media can be either a website or an application that lets different users communicate with the world by sharing different content. This can also be classified as social networking. Social media and social networking can include content sharing, forums, blogging, wikis and more. Most traditional social media platforms include Facebook, Twitter, Linkedin, Instagram, Pinterest, and Google+. Facebook, for example, is a platform that allows users to create profiles, share content and chat with friends. Linkedin, on the other hand, would be classified a little differently in the sense that it is used for the business community where users create networks and connect with business professionals. Social Media Today Social media is not necessarily a new concept. There are different ideas of when social media first officially occurred. Certain types of social media even began as early as the 60’s and 70’s and has been evolving ever since. In today’s society, social media impacts the way that most people communicate and is a part of many user’s daily practises. There are more than 7 billion people on this planet today and of that number, there are over 3 billion active internet users and 2.1 billion social media users. 1 These statistics about the use of social media...
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...This past week, I read three social media case studies on Lady Gaga, the Ford Fiesta Movement, and the Greenpeace protests against Nestle` in the palm oil controversy. After reading “Lady Gaga: Born this way?” I was impressed by her utilization of social media to successfully interact with her fans. Her passion for her time-consuming work and building a following on social media took over many aspects of her personal life, prohibiting her from being able to own a home or even have a boyfriend. Growing up, Lady Gaga took full advantage of her privileged upbringing by receiving the best education and seizing opportunities that supported her musical talents. Once she was discovered, she actively built her image as an artist through the Internet and social media. Her success was attributable to connecting and interacting with her fans through websites such as You Tube, Facebook, and Twitter. She was able to build a bond with her fans that has not been matched by any other musician or artist. I was intrigued by her success outside of the music industry that seemed directly related to the social footprint that she built for herself. The case study talks about the “360 deal,” where music companies now share a portion of revenues from all aspects of an artist’s business. While I believe this to be a great business model for the music industry, and Lady Gaga has been tremendously successful in this model, I think it is premature to imply that her reinvigoration of outside brands...
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...There are many ways to measure success in a Social Media Marketing Strategy. Before measuring success, you need to know where you are standing. It is very important to measure the traffic of the web page, fans, followers, referrals, rankings, customer satisfaction scores and any other relevant information. This step is mandatory because if you do not know where you are standing now, how could you know if the strategy is successful in the future. The best ways to measure success in social media can vary from business to business. That is why, it is important to know what your objectives are and who your target is. For example, the Ferrari page in Facebook has 5,300,000 of likes. That means that this page is active and has a huge quantity of traffic, but how many of the people that like this page is a Ferrari owner or is a possible buyer for a Ferrari. Even though the majority of the people that like this page are not Ferrari’s owners or possible buyers, they are creating brand awareness that is extremely important for a successful company. The most frequent way used to measure success in social media strategy is measuring traffic. Traffic refers to the activity of the web page or how many people enter to the page. This can be measured per hour, daily, monthly annually or however you want. Using traffic to measure social media is a helpful tool, but we need to have in mind that sometimes quality is better than quantity. Once there is traffic, we can measure interaction. Interaction...
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...How social media marketing can influence the profitability of an online company from a consumer point of view. Chan Jenn Ming Center of SNHU Programs HELP Collage of Art and Technology Kuala Lumpur, Malaysia Devinchan33@gmail.com Rashad Yazdanifard Center of SNHU Programs HELP College of Arts and Technology Kuala Lumpur, Malaysia rashadyazdanifard@yahoo.com Abstract In this fast-paced society, the social network has become one of the major channels for a company to engage with its customers. Social networking provides the platform for organizations to engage and find like-minded consumers. Therefore, social marketing is extremely important for an organization to influence their consumers’ behavior in order to increase its profitability. This marketing approach is often applied especially for online companies. Besides, the perspective of consumer to the company becomes the major reason to keep them loyal to a particular company. In this research paper, I will analyze how social media marketing can influence the profitability of an online company from a consumer point of view. Keywords: Social Media Marketing, Profitability, Online Company, Consumer point of view 1. Introduction With the development of the internet, everything can be done by just a simple click. Many successful companies which rely on the internet have been created, for example Facebook, Twitter, and Instagram. Internet provides the users accessibility to many services, from entertainment...
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...Social Media LaChina McClain Professor Smallwood LEG 100 May 4, 2013 Facebook is a very popular social media site where users can share their ideas and feelings about events in an open atmosphere. These ideas are known as “statuses”. Additionally, the site is used to share pictures, videos, and other points of individual interest with the rest of the world or just a selected few. This is totally up to your personnel preferences. A growing trend is using Facebook as a social media marketing arena. There are several home-based and populated sites that are dedicated to the sale of items or services. It is through this newly established media power, that many entrepreneurial individuals have been able to establish themselves a social media marketing giants, and have gained much attention and income from being able to do so. This new ability is just a start of the technological marketing revolutions. Last year, 73 percent of Fortune 500 companies were active on Twitter, while more than 80 percent of executives believed social media engagement led to increased sales (Savitz, 2012). Social media has gained so much notoriety that “the average return on social (media) engagement was calculated to be between 3-5% (Walker, 2012). The most engaged businesses are reporting a calculated 7.7% business impact specifically from social (media) engagement, which is four times the performance of the lowest performers who only achieved a 1.9% estimated return” (Walker, 2012). This...
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...AND ALTIMETER GROUP SOCIAL MARKETING ANALYTICS A NEW FRAMEWORK FOR MEASURING RESULTS IN SOCIAL MEDIA JOHN LOVETT AND JEREMIAH OWYANG WITH ERIC T. PETERSON, CHARLENE LI AND CHRISTINE TRAN EXECUTIVE SUMMARY Business Must Adopt A Measurement Framework For Success. The rapid evolution of the web and digital media over the past decade illustrates that we operate in an environment that is constantly in flux. Technologies emerge, communication channels open and consumer behaviors adapt. These changes are apparent in the ways in which consumers interact with marketers and their brands as well as the ways in which consumers empower one another. Yet, as consumer connections, networks and relationships spider to the edges of the globe, marketers take their messages to social media channels with reckless abandon. Organizations that view social marketing as experimental forays jeopardize the relationships they have with their customers because consumers do not regard their actions as frivolous endeavors. They’re making decisions based on the new information they learn from their networks and using that knowledge to take actions and influence others. These actions leave indelible impressions upon brands and the consumers that interact with them. In an effort to help clients better understand the value of these emerging channels on their business, Web Analytics Demystified and Altimeter Group interviewed dozens of companies who are active participants in social media. Through our research...
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