...corporations understand social media, this report, based on literature review as well as primary research through the means of a survey, seeks to inform managers what social media can do for their company and how they can use it effectively. Often perceived as free, social media is in fact low-cost but involves a lot of involvement and efforts from its users. Through analysis of current social media practices, this report aims to warn managers of drawbacks that social media can yield if it is not handled properly. ------------------------------------------------- Introduction Social media technologies are becoming more popular. As of February 2012, Facebook had 955 million users and Twitter had 200 million active users (and more than twice as many registered users). In their brief period of existence, social media networks have grown and their use has increased steadily. In fact, when compared to the rate at which television had reached households – 50 million in 13 years – Facebook had reached the same amount of users in under one year (Jacques, Chui and Manyika, 72). With such a significant part of the population reunited on social networks, it is not surprising to see that they are quickly securing a solid place in the marketing mix of corporations. If a company wishes to not fall behind and remain relevant when compared to other businesses, the question isn’t “Do we do social media?” but rather “What are we waiting for?” But while doing social media has become an obvious...
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...W’Style’s Social Media Strategy Report ISYS 1028 Assignment 3 Lecturer: Dr Claire Davison Padmanabh Deshpande: 3455769 Jie Deng: 3452773 Jianpeng Shao: 3372513 Regina Tilaar: 3410562 Qiaojian He: 3181251 31th October 2013 Contents 1. Social Media Business Audit of ASOS.com…………………………………………………………….3 2.1. Business Introduction and Brand Description………………………………………………………. 3 2.2. Current Customers and Target Market………………………………………………………………….3 2.3. Reviews of Social Media Channels…………………………………………………………………………3 2.4. Analysis of Strengths and Weaknesses of the Current Campaign…………………………. 6 2.5. Conclusion of Findings…………………………………………………………………………………………..7 2. Social Media Strategy Report for W’ Style…………………………………………………..……….8 3.6. Business Introduction…………………………………………………………………………………………..8 3.7. Current Market and Target Market………………………………………………………………..…….8 3.8. Identification of Business Goal of Strategy……………………………………………………………8 3.9. Engagement Strategy and Technologies…………………………………………………………….…9 3.10. Overall Schedule of Strategy and Campaigns………………………………………………………10 3.11. Resources and skills required for performing strategy…………………………………..……12 3.12. Key Performance Indicators and Analytic Tools………………………………………..…………14 3. Evidence of Social Media Campaign…………………………………………………………..……….16 4.13. The Goal of the Campaign……………………………………………………………………..……………16 ...
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...Strategy recommendation for how KFC should incorporate the reality of the Internet and social media into its business plan Yum! Brands is a global company that operates in 41 different countries and territories with approximately 41,000 restaurants. The company was formed in 1997 as a spin-off of PepsiCo and has become a leader in international retail development, opening an average of five restaurants per day outside the U.S. Yum! Currently owns 3 different concepts: KFC, Taco Bell and Pizza Hut. Colonel Harland Sanders is the founder of Kentucky Fried Chicken and is proven to be a great American success story. He began frying chicken in the early 1930’s at a travelers’ service station in Corbin, KY and after perfecting his 11 herbs and spices and frying technique that is still used today, the Colonel began franchising in 1955. 10 years later there were over 600 restaurants in the U.S. and Canada. The Benefits of using social media and the internet The benefits in using social media and the internet for any business is to increase exposure, gain traffic and connect with people. A business needs to create strategies that link the customer experience with the technologies and systems required to deliver the right content at the right time. (Hisaka, 2012, para. 1) KFC has to stay relevant to its customers and followers because it’s a brand that everyone knows and has been around since the 1950’s. Interacting with customers and asking for their opinion allows...
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...Social Media as a Disruptive Strategy to propel business @ Dell Social Media by itself is disruptive. In the age of Facebook, Instagram and twitter ideas, articles and information can trickle to all the corners of the world in a matter of hours. Dell realized this when there was lot of outrage in the social media space against them. There were one sided conversations because dell was not on the social media space. The firm was also scared that the employees would misuse the space and hurt the company's reputation. Dell looked at this as an opportunity to make social media as a strategic priority to connect with its customers better. Dell made many strategic changes to leverage the social media technology. These strategies involved creating a centralized social media operation, SMaC University and driving sales through social media and direct to sales. All these strategic initiatives had a direct impact on the bottom and top line of the firm. Centralized social media operations Dell created a centralized social media operation. This center was instrumental in creating two blogs; Direct2Dell and Ideastorm, both focusing on its customers. Direct2dell was focused on solving customer issues and grievances and introducing Dell's new products & services to its customers. Idea storm was a platform provided to its customers to communicate their views and ideas about the products, features and services. These blogs allowed Dell to connect and understand its customers. SMaC U Dell...
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...PROJECT: DEVELOPING A SOCIAL MEDIA MANAGEMENT STRATEGY FOR NOUCHALINE: MY FASHION BLOG MKTG250D/INFO250D Presented to: Leila Khauli Hanna Dr. Nelson King January 16th, 2012 Table of Contents Executive Summary 4 Client Background 5 Existing Social Media Presence 5 1. Social Media (Open): 5 2. Specialized Networks: 7 Assessment of Current Operations 8 Coordination 8 Scrutiny and Accountability 8 Data Management 8 Scalability and Consistency 9 Summary of Existing Operational Complexity 9 Social Media Management Framework 10 Context 10 Culture 11 Process 11 Metrics 13 People 13 Policies 14 Business Goals 14 Social Media Strategy 16 FACEBOOK: 16 FEATURES: 18 CREATE A NETWORKFOR LEBANESE FASHION BLOGGERS 19 Recommendations 20 Appendix I: Social Media Assessment tools 21 21 21 23 \ 23 Appendix II. Stats of the Blog 24 Appendix III. Social Media Channels\ 25 Appendix IV: Reference and Links 27 Executive Summary “Nouchaline: My Fashion Blog” is a blog that was launched in 2009, by Aline Chirinian. It is a platform on which Aline shares her personal style and views on fashion. The blog currently has had 59,606 page views, with over 1,080 followers across the different social media platforms. The blog’s goal is to increase the number of readers, and its brand awareness; in order to generate revenue in the near future. It hopes to achieve this goal by engaging more on social media and assessing all feedback in...
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...Social Media and the effects of Business Growth Limor Elazar Columbia Southern University Introduction “Simply put, social media is an “open media for interactive communication led by normal people”” (Dong-Hun, 2010, p. 112). Social media represents new opportunities for businesses to expand their customer base and brand. Implementing social media outlets such as Facebook, Twitter and Tumblr is the innovative way to mobilize immediate marketing. Social media can be a critical factor for business image, many sites allow for customer reviews. Not all of the company’s reviews will be positive but the way the company responds will have numerous consequences for the company’s image. Problem Statement “One of the biggest threats of social media inaction is to risk having a big, dark cloud cast over the brand” (Overhulse-king, 2010, p 42). Many companies are not aware of the information on social media and do not engage in the use. This can be very harmful for the organization brand. Lack of participation in social media handicaps the organizations by not building positive relations with customers and minimizing negative ones. Current Situation All businesses have inherent threats, competition, branding, company image and cost. In order for an organization to continue to grow economically they must integrate social media strategies. “If corporations were to analyze their opportunities for social responsibility using the same frameworks that guide their core business...
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...Social Media in the Product Development Strategy by Jens Gutermann Integrated communication has emerged as both the core element and one of the main challenges facing corporate communication over the last few years. Everything revolves around communication. As companies dicker over gaining customers’ favor, integrated communication appears to offer an escape from the bewildering multitude of options available for customeroriented and targeted communication with users. New forms of information and communication commonly known as social media or Web 2.0 have opened up evolutionary and revolutionary opportunities for positioning products and services on the market and getting in touch with consumers. However, this also poses a new and completely different type of challenge with regard to our communication, particularly when it comes to integrated communication. Companies are finding themselves in a problematic situation where comparison with competitors is just a mouse click away, and where only strong brand identities that are able to incorporate social media in their integrated communication strategy manage to withstand the information overload. If we consider the fundamental aim of integrated communication, namely to achieve the greatest possible degree of control, this contrasts paradoxically with the situation described. The information society was still a thing of the future in the 1980s, and when it became a reality in the 1990s, yet another future started to beckon. It...
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...1.0 Definition 1.0.1 Social Media Social media is a platform where people can communicate and share things such as videos, music, news, advertisements, and information (Burke, 2013). People are often unable to differentiate social media, mass media, and social networks. Basically, according to Burke (2013), social network is a place for users to communicate and have discussion, while mass media is a place for exchanging and uploading media such as video, music, news, advertisement, and information, social media is the combination of social network and mass media. The typical example for social network, mass media, and social media are Skype, online newspapers, and Facebook respectively. We notice that three of them are different in terms of their functions where Skype connects people around the world, online newspapers shares information and news, and Facebook can carry both of the social network and mass media’s functions at the same time. It allows people to conduct their interaction such as exchanging information, sharing ideas, holding discussions, forwarding and watching video and music in a virtual environment. In short, social media nowadays are getting more diversified. It just like the example of radio and camera, stepping to a new era of technology has let us witness the combination of them into a smart phone. 1.0.2 Marketing Strategy Marketing strategy is a technique to increase an organization’s sales and their competitive advantage. It can be developed in short-term...
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...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 past but now that...
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...We’re all connected: The power of the social media ecosystem Richard Hanna a, Andrew Rohm a, Victoria L. Crittenden b,* a b College of Business Administration, Northeastern University, Boston, MA 02115, U.S.A. Carroll School of Management, Boston College, Chestnut Hill, MA 02467, U.S.A. KEYWORDS Social media; Traditional media; Online ecosystems; Marketing communications; Marketing metrics; Consumer engagement and interaction Abstract Consumers are adopting increasingly active roles in co-creating marketing content with companies and their respective brands. In turn, companies and organizations are looking to online social marketing programs and campaigns in an effort to reach consumers where they ‘live’ online. However, the challenge facing many companies is that although they recognize the need to be active in social media, they do not truly understand how to do it effectively, what performance indicators they should be measuring, and how they should measure them. Further, as companies develop social media strategies, platforms such as YouTube, Facebook, and Twitter are too often treated as stand-alone elements rather than part of an integrated system. This article offers a systematic way of understanding and conceptualizing online social media, as an ecosystem of related elements involving both digital and traditional media. We highlight a best-practice case study of an organization’s successful efforts to leverage social media in reaching an important audience of...
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...Social media as a KM tool for supporting innovation and sharing Social media has rapidly evolved and plays an important role in today’s business world. Organizations recognized the power of social media and tried to find ways to use social media to help grow their business. Social media can be incorporated in business practices in areas such as recruiting, advertising, and branding within an organization. According to the Social Media Risks and Rewards report (2013) that contain surveys of more than 100 senior-executives, 38 percent of executives said their organizations used social media for brand awareness, 27 percent use for recruiting purposes, and 14 percent use for customer profiling (Bramwell, 2013). In this section of the paper, effective usage of social media as well as the controversial issues of social media will be explored. According to Razmerita, Phillips-Wren, and Jain (2016), “Social media opens innovative avenues to manage knowledge processes by facilitating new ways to externalize, share, create knowledge and innovation through co-creation processes, crowdsourcing or synergistic articulation of personal into collective knowledge” (p. 4). The successful adoption of social media requires social media strategy to be aligned with the organization’s goals. In this strategic alignment, organizations are able to improve knowledge-sharing, transform business processes, and increase overall performance. Effective Usage of Social Media Being able to successfully...
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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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...POE, Crowdsourcing and Social CRM strategy. Coke’s ground-breaking and integrated social marketing approach could inspire many brands and their CMOs. Let’s take a deep dive here… Coca-Cola is asking its 50 million Facebook fans for creative input about how it can make the world a “happier place”, in a scheme to activate its Open Happiness theme and to collect customer data. With Coke’s new Facebook App, fans can register their interest in the scheme by filling out their details, and they can share their ideas on happiness. On the app, Coca-Cola explains that users who give their permission will next receive marketing e-mails from the company and information may be disclosed to service providers who handle campaigns on its behalf or to affiliates who may send marketing offers and information. Coke has said the ideas it is looking for will be ones which enable people to be more active, give to others, be social or “engage in other activities associated with increased happiness”. Further information, including timelines for the project, will be revealed in the coming weeks. Now there are a few things at Coke that could really inspire CMOs. Are you ready for some of my opinions? Most marketers around the globe have embraced social media, but they failed to integrate it. Organizing social media in an integrated way seems to be very difficult for brands. But not for Coca Cola. Due to the lack of big-data analyses and lack of integrated media metrics most CMOs are...
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...Strategy Recommendation for Barnes & Noble MBA-FP6004 Strategy Recommendation Paper Capella University 2015 Introduction Today the power of the Internet and social media as it pertains to companies is immense. A great strategy to harness the power of both can be the difference between one company’s failure and another’s success. The following essay will first begin by giving a brief introduction and history on Barnes & Noble, Incorporated. Second, existing technologies that exist that management should consider with regard to the Internet and social media will be discussed. Third, an in depth look into how Barnes & Noble is currently utilizing the Internet and social media will be shown, as well as, how their competitors in the same industry are using these tools. Fourth, a SWOT analysis for Barnes & Noble using the Internet and social media will be discussed. Also, the implications discovered in the analysis and how they will affect the future of the business will be explained. Fifth, the ethical impacts that come with the use of these tools will be examined and how they may impact the future of the company. Sixth, an assessment of the use of the Internet and social media will be given as they pertain to the global environment and demographics. Finally, a thoughtful business strategy will be given along with recommendations that Barnes & Noble should consider in moving forward with their Internet and social media use. Barnes & Noble Background ...
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...Running head: HOW SOCIAL MEDIA IS REVOLUTIONIZING THE APPAREL INDUSTRY1 “How Social Media Is Revolutionizing the Apparel Industry” Alaa El-Bially Johns Hopkins Carey Business School HOW SOCIAL MEDIA IS REVOLUTIONIZING THE APPAREL INDUSTRY 2 Social media is a buzzword. Social media is “like teen sex. Everyone wants to do it. No one actually knows how. When finally done, there is a surprise it’s not better”, says Avinash Kaushik, co-Founder of Market Motive Inc and the Digital Marketing Evangelist for Google. In just a few short years, social media has revolutionized the way people communicate and share information, turning conversations into 140-words blips and making e-mail- the original electronic communication tool- seem quaint. In the business perspective, social media creates a kinship between the brand and its consumers and prospective consumers, which drives purchase intent and word of mouth. In this context, I will address the role of social media in revolutionizing the apparel industry as a business model, and its challenges and projections. Why Is Now the Right Time for Social Media? Growth & Interest Are High. A recent survey from eConsultancy shows that social networks and blogs are the fourth most popular activities online, (ahead of personal email, even) and that 10 percent of all time spent on the Internet is spent on social media sites. Statistics on the leading social networking sites are equally impressive: Facebook now lists more than 500 million...
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