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Social Media Marketing: The Power of Networks
- 1. so c i a l m e d i a ma r ke t i ng Ms. Anubha Rastogi Astt. Prof, Vidya School Of Business 2017-18
- 3. There are two benefits of SOCIAL MEDIA that are important to businesses, they include: 1. Cost reduction by decreasing staff time. 2. Increase of probability of revenue generation. Social media enables companies to: · Share their expertise and knowledge. · Tap into the wisdom of their consumers. · Enables customers helping customers. · Engages prospects through customer evangelism.
- 4. • Different forms of electronic communication through which users can create online communities to exchange: • Information • Ideas • Messages • Other content such as videos or music • Social Media Platform – Type of software or technology that allows users to build, integrate, or facilitate a community, interaction among users, and user- generated content • Social Media Tool – Enables users to communicate with each other online
- 5. Anubha Rastogi | VSB • Act as a home base for an online community • To access the conversations held there, users must become members • Social networking sites – Websites that provide virtual communities for people to: • Share daily activities • Post opinions on various topics • Increase their circle of online friends, and more • Bookmarking sites – These give people a place to save, organize, and manage links to: • Websites • Other resources on the Internet • Social news sites – People post news items or links to outside articles on such sites, then vote on which postings get the most prominent display and viewed by the most readers • Online forums – Members hold conversations by posting messages • Blogging sites – Blog postings and comments are attached to such sites and typically focus on specific topics • Microblogs – Subscribers get a steady stream of brief updates from anyone ranging from a high-school friend to a celebrity
- 6. Anubha Rastogi | VSB • These make the conversation happen • Services like YouTube and Flickr allow people to upload and share media such as photos and videos • Some videos have gone viral and shot their makers to fame • Marketers realize that a viral video can translate to a jump in demand—and sales—for their products • Blogging allows people to communicate in greater detail than microblogging does • Marketers use blog postings to: • Educate consumers and business customers about new products • Ask for feedback about particular goods and services • Notify the public about social responsibility initiatives • Manage public relations crises • Companies may • Designate certain staff members as bloggers • Hire professional bloggers either in-house or on a consulting basis • Microblogging offers short bursts of news • App – Short for application, it is a free or paid software download that links users to a wide range of goods and services, media and text content, social media platforms, search engines, and the like
- 7. Anubha Rastogi | VSB • Marketers • Know that potential and existing customers use all kinds of apps, and they want to tap into the opportunities created by this phenomenon • Must find ways to identify the apps that will support the goals of their social media marketing efforts • Need to choose the ones that reach and attract their target audience and influence consumers to make decisions in favor of their goods and services • Short for quick response codes • Two-dimensional bar codes that can be read by some mobile phones with cameras • Information contained in the code is shared with the user • Might lead to a video, give details about a product, or offer a coupon
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- 9. Anubha Rastogi | VSB • Social media has quickly grown to be an important tool for marketers to: • Build relationships with customers • Strengthen brands • Launch new products • Enter new markets • Boost sales • Consumers are connecting with retailers, restaurants, travel and entertainment firms, financial companies, and other businesses via social media • The messages conveyed via social media wield substantial power • Uses social media portals to create a positive influence on consumers or business customers toward an organization’s: • Brand • Goods and services • Public image • Website • Not-for-profit organizations create social media marketing campaigns to expand their reach
- 10. Anubha Rastogi | VSB • Marketers generally view the goal of social media marketing as developing a conversation with potential customers, resulting in a: • Purchase • Subscription to an email newsletter • Registration in an online community • Participation in an event • SMM contains three essential features: • It creates a buzz • It creates ways for customers or fans to engage in conversations with each other and the organization • It allows customers to promote the firm’s messages themselves
- 11. Anubha Rastogi | VSB • Social media monitoring – Process of tracking, measuring, and evaluating a firm’s social media marketing initiatives • Social media analytics – Tools that help marketers trace, measure, and interpret data related to social media marketing initiatives • Monitoring and measuring help marketers understand what their customers need and want, ultimately making adjustments to SMM or product offerings to satisfy those customers • Marketers select monitoring tools based on the needs of their own firms • Firms calculate the return on investment of their social media marketing initiatives, using: • Reach – The percentage of people in a target market who are exposed to the marketing effort at least once • Frequency – The number of times an individual is exposed to the marketing material during the campaign • Expenses are weighed against savings • Effective monitoring gives marketers a clearer picture of an organization’s influence via social media
- 12. Anubha Rastogi | VSB Measuring the success of a social media marketing plan includes such factors as: •Share of voice •Awareness of the company or brand •Level of engagement by the targeted audience •Influence created •Popularity among target audience members
- 13. Anubha Rastogi | VSB • Managing a social media marketing campaign or a company’s overall social media efforts requires skill, expertise, and understanding of the company’s: • Brand • Competitors • Social media environment • This means: • Maintaining a grasp on the success or failure of previous strategies, knowledge of the benefits and drawbacks of the different social media platforms and tools, and an ability to interpret data without losing sight of the overall goal • Being flexible enough to change tactics when necessary to avert or minimize a crisis
- 14. Anubha Rastogi | VSB • Social media marketers face ethical and legal issues, such as Privacy & Accountability • Well-written social media policies are: • Consistent with a firm’s organizational culture and values • Explain why employees should take certain steps or actions or avoid them • Broad enough to cover the major points, but brief enough to fit onto two pages • Linked to other relevant company policies and guidelines • Postings, ads, comments, and even images come under intense scrutiny and must be checked for: Accuracy | Fair and realistic claims or promises | Balance and objectivity | Potential for misinterpretation • Marketers must: • Not distribute any personal information without consent • Be vigilant about confidentiality • When mistakes happen, smart social media marketers: • Take action to solve the problem or resolve the issue • Acknowledge the problem and take responsibility for it • Communicate with the right people, via the most relevant channels • Promise to take steps necessary to correct the situation • Implement the agreed-upon changes or make other concessions • Evaluate ways to avoid similar problems in the future
- 16. Anubha Rastogi | VSB 9 10 11 12 13 14 15 2 4 5 6 7 8 Use video content Treat each channel as an individual entity Concentrate on Increasing Daily Updates Dig Data from Social Media Channels Introduce Content with Infographics Interacting with followers Find your content with hashtag Conduct Contests , Promotional activities Question Readers for More Engagement Pay for Brand exposure Use Emojis in social media Usage of memes Podcasting 1 Tailor your content 3 Plan for mobile devices
- 17. Anubha Rastogi | VSB • For better ranking you need to concentrate on Daily updates. • Ensuring that your posts and updates have a good chance to be seen by your target audience is an integral part of a content strategy. • Gauge the real-time market mood. • Identify relevant issues and content. • Determine user interests. • Provide internal operational metrics. • Execute competitive research.
- 18. Anubha Rastogi | VSB Paying for advertising allows you to reach a specific demographic rather than just relying on organic social reach alone. • A podcast is a form of digital media that consists of an episodic series of audio, video, digital radio, PDF, or e Pub files subscribed to and downloaded automatically through web syndication or streamed online to a computer or mobile device. • Podcasting blurs the line between content marketing and social.
- 19. Anubha Rastogi | VSB Facebook [ ] Likes [ ] Shares [ ] Comments [ ] Clicks [ ] Engagement Rate [ ] Referral Traffic [ ] Video Views [ ] Conversions Instagram [ ] Follower Count [ ] Likes [ ] Comments [ ] Referral Traffic Twitter [ ] Likes [ ] Retweets [ ] Replies [ ] Referral Traffic [ ] Conversions Google+ [ ] Followers [ ] +1’s [ ] Referrals [ ] Conversions [ ] Comments [ ] Shares LinkedIn [ ] Likes [ ] Comments [ ] Replies [ ] Referrals [ ] Conversions Pinterest [ ] Repins [ ] Referral Traffic [ ] Conversions Network Page Likes / Followers % Growth Referral Traffic Conversions Facebook Twitter LinkedIn Google+ Pinterest Instagram
- 20. Anubha Rastogi | VSB • Social Media helps with SEO • Social Media promotes your Blog • Social Media is Permission Centric • The conversation has already started… • Contribute, collaborate, inform, educate but do not sell. • Create high quality content. • Start with Small Steps and Build on Your Success. • Leave your name and URL when you comment on other blogs. • Consider video and/or photo sharing. • Join online groups or mailing lists that are related to the products and services you offer. • Understand how social media websites work.
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- 28. Go social !