RUNNING HEAD: SOCIAL MEDIA MARKETING
SOCIAL MEDIA MARKETING
Research onSocial Media Marketing
World is globalized and socialized; there were times when people waited for days and weeks to connect with people and to gain responses but now it is easy to join people within seconds and one can remain connected for hours and hours. Advancements in science and technology added conveniences, amenities and comforts in our life (Patricia, 2012). For example, if an individual wants to talk urgently with another person than cell phones are the best medium to use and if high school students want to discuss their class project after school hours than they can use social networking web pages and electronic forums to connect with colleagues. In such a way they can brainstorm, they can communicate, they can negotiate and they can produce decisions.
There are several concepts with respect to media, marketing and networking but the most prominent term that is ruling the world is ‘Social media marketing’. It is a new concept that is introduced in late twentieth century. The term refers to the procedure of bringing or gaining media traffic. Gain of media traffic determines gaining attention and focus of customers. Actually the purpose is to enhance the ratings of different media marketing concepts. The increase in rating represents that customers are utilizing those services, they are satisfied with the offerings and they want to continue those services.
In social media marketing, traffic is gained through social media websites. Social media is a method that catches connection to endow people with a variety of social networking. For example, Facebook is a social networking page where people connect with others to update their past, present and future thoughts. They can communicate with others and one can make people aware about the hot topics (Stelner, 2012). Teenagers usually place their photos, videos and funny chit chats. Besides Facebook, there are twitter, Orkut, Netflix and other innovative pages to share activities.
The project that is assigned deals with Social Media Marketing and its applications; the paper will discuss motivation and grounds regarding the popularity of this business, it will also illustrate the benefits and drawbacks of utilizing this theme and why it is best business for upcoming entrepreneurs. Besides this, assignment will illustrate success of Pepsi because they are utilizing several media options to promote their business. Further, it will summarize two brief case studies related to social media marketing. It will portray suitable examples and finally it will contemplate and hypothesize impacts that Social Media will have on big business and production in future along with the ways of improvement. The details of assignment are as follows:
Social Media Marketing has become exceedingly popular among businesses of all sizes. Give Reasons?
The world of today is computerized world; people no more prefer to work manually, they want readymade tasks and assignment. Traditionally, people had worked hard, they applied efforts to complete their assigned tasks but today employees are providing with the comfort mode. They can easily cover up their projects by clicking buttons.
Contemporary business usually utilizes modern and advanced techniques to promote their business activities and to assist their target market and clients. Search engines like google, my space are prominent business marketing techniques without which business is incomplete. Besides these wide concepts, social media advertising is another way for promoting and marketing activities. For example, most of the organizations place their ads as a pop up material that will be displayed every time you clicked on that page (Hofaker, 2012). It is the best way to advertise because it is cheap and one is bound to watch those ads until and unless they clicked on it. Click will add hits or number of views that determines interest of customers.
Both processes are spreading rapidly. Social media advertising is applicable mostly for entrepreneurial ventures because newly introduced business are usually of low budget. Large organizations utilize this networking technique than it will be beneficial for their future revenue and growth.
Social media marketing is popular because people all over the world utilizes internet as their first medium to search information and statistics; they sit in front of computer screen for more than ten two twelve hours. Thus, marketers want their concepts to be seen by everyone, thus majority people uses internet that is why it is popular.
World Wide Web promotes modifications after a continuous span of time; it has changed our ways of thinking by providing a lot more options to interact. From business point of view, directors, investors, shareholders, employees, coworkers and customers can come to a platform to share their views (Hub, 2010). Traditionally, physicians from healthcare organization use appointments and queues for diagnosing patients now details of appointments are recorded in an electronic forum that eliminates manual work, time and cost wastage.
Through social media marketing, business and trades become advanced. Earlier, one has to shop by walking and searching entire market. It was tiresome, dull, exhausted and it costs time and money as well but today one can easily purchase flowers through online business activities. They have to just click on that ad; prices will be mentioned there along with the flowers they possess. It is your choice to prepare bouquet along with wrapping (Patricia, 2012). Thus, one can have everything within a click of button. Besides that, one can search about locations and nearest stores to approach.
As far as today’s environment is concerned than those corporations who do not possess virtual existence will suffer loss because they have lost half of their target market. These organizations will not be able to compete in an international market because they do not possess international relations. Thus, they do not grow well.
Advantages and Disadvantages of Social Media Marketing for Business Entrepreneurs
There are several advantages and disadvantages of social media marketing for business entrepreneurs; some of them are as follows:
First of all, we will discuss about advantages because benefits are more important than that of drawbacks as it supports organization. Social media marketing is cheap whereas marketing that is done through print and electronic medium is expensive (Hofaker, 2012). When an organization advertises commercials on television, it costs in millions whereas other techniques are pamphlets, billboards, discount deals and sales people that adds up the cost whereas if they place ads in social media than it can be free of cost depending upon the webpage they have utilized.
It is an easy way to understand, to distinguish and to gain knowledge. One has to just press the right button to have the correct details. It is an effortlessmethod for tradeand industry entrepreneurs to sketch new-fangled dealings, augmenting or boosting up an accessible business, enhance selling merchandise, receive employment recommendations, and receive employment recommendations (Stelner, 2012).
Besides this, it is an easy way to raise your media traffic because a lot of people are connected with internet; most of the people now days are using internet as a source of business that is why they find social media web-pages as an attractive piece to use. It will be easy to grab and to attract customers.
Social media marketing has eliminated the concept of moving from place to place in search of goods and accessories. It has provided an opportunity to purchase reputable things fromthe home page of several organizations (Hub, 2010). The major benefit is that it reduces cost related to transportation, the tiresome day extra fatigue that occurs while walking.
Further, it has bound together international market through connectivity servers. One can have worldwide connection through Facebook, twitter, Orkut, etc. For example, an entrepreneur can devise a fan page related to his business; the maximum number of likes he receives represents the success and popularity of his business (Fund, 2012).Finally, one can shares the commonalities between the two parties; it would be easy to search out and negotiate with vendors and suppliers, one does not have to wait for long time in order to catch up the responses of other party and there is an advantage of free ads.
Considering disadvantages than one of the major disadvantage that small entrepreneurs faced is to make immediate decisions. Through social networking web-pages, one has to communicate on continuous basis. Therefore it is difficult to plan out large projects because expensive projects require time, effort and participation of parties directly. In that case, it would be better to have face to face meetings.
Secondly; there are insufficient cyber laws due to which hackers and illegal users can easily access to personal details. Therefore organization should have a tracking device that access and recognizes unethical data. It is their duty to protect customers’ secrets so a medium should be there to protect people (Norton, 2011). In case of leakage in information, one would suffer loss of reputation and it is dangerous for customers as well.
Besides above two, another drawback of social media marketing is cyber bullying and illegal crimes that forced children to commit criminal activities. It has been noticed that social media marketing has promoted harassment and sexual abusive conducts. Before social media marketing, the name of pornography was uncommon but with the advent of mass media, illegal website and unlawful porn movies get common.Besides that it has increased the chanced of theft and robbery. Sometimes it wastes time and money because people sits idle on it without any tasks and activities. Basically, it provides knowledge and details about everything that include ethical actions and it specifies how one can commit illegal action.
Internet is a source; it depends upon people that how they utilize it. If they want to use it properly than they will make benefit from it, otherwise they will remain puzzled and they can never be successful.
Social Media Marketing is helping Pepsi to gain more customer insight than it would have otherwise. Clarify!
Social media marketing has assisted the brand of Pepsi to confine and concentrate communal marketing efforts in diverse cultural contexts. This is done in order to acquire massive number of customers within a short span of time. If it would not have committed such efforts than Pepsi might not be a renowned brand; actually Pepsi has tied several cultural together, it has presented its brand as a source of enjoyment, encouragement, celebrations, joys and cheers (Patricia, 2012). The brand wouldachievepositive customer relationships than it would have otherwise.
Pepsi has always presented itself as a precious and sophisticated brand. The consistency of positive brand image on an international scale promotes growth (Hofaker, 2012). Besides that, it is equally significant to influence the national social media techniques because corporations try to grab international markets before national markets that is wrong because your basic customers are your town people, they are your stakeholders. One should execute successful marketing and promotional platforms to have an effective influencing campaign.
Social Media Marketing introduced techniques to opt for multiple consumer segments where habits if each and every target customer will be highlighted (Norton, 2011). One should understand the psyche of customers fairly. Actually, Facebook is a social website that has its interest in personality of person whereas twitter is interested in topic (Fund, 2012). The graph of Facebook is a social graph whereas graph of twitter is interest based graph. One has to keep in mind the interests and concerns of people with respect to personality rather than topic.
Social media marketing of Pepsi is far better than Coca-Cola, though both have adapted same modes of marketing but style of Pepsi is somewhat refreshing than that of Coke. Pepsi determines the need of people and based on the need of people it tries to promote its products. Fan page of Pepsi is somewhat funny and people love to solve crosswords and jumble up questions provided by them.
Pepsi is a renowned consumer of YouTube. The corporation has placed its every commercial in YouTube with respect to time and year so that to make people realize the trust they have developed since last several years. It assists in building close relationships and Social Media Marketing assists working online and offline functions for Pepsi to attract more consumers (Norton, 2011).Company chooses to commence and instigate both offline and online campaigns independently.
Two other Businesses that have used Social Media marketing to their Advantage
There are a number of businesses that have utilized social media marketing to their advantage. Out of all those, the prominent two are defined as follows:
Considering United States than Eastman Kodak Company that is responsible for providing quality pictures has utilized the concept of media marketing by using Facebook, LinkedIn and YouTube. Kodak recently launched its new camera that is known as pocket video camera. It is good for having spontaneous clicks. After the introduction of new electronic gadget, the Chief Marketing Officer tweeted about the innovation. The tweet was “break-at my NYC fav diner having some smoked whitefish on crackers (Stelner, 2012). Wonder if I can shove some in my pockets for later?”The message was read in one hundred and forty states and thus twitter came to be a renowned method of communication for them.
US Airways is another organization that promotes its advertisements through social media marketing. They have twitter accounts and Facebook pages where they have presented an option to have online registration and confirmation of flights. Besides this, they use blogs and electronic forums to have feedbacks and to solve the queries of customers. The logo they have presented through twitter is, ‘Simply Flying’ (Hub, 2010). They have given the same name to their blogs. Social media dexterousness was premeditated by means of an algorithm that accounted for Facebook fans,Twitter followers, and Klout scores.
Impact of Social Media on Business over the Next Decade along with the identification of Skills to Improve to take Advantage of the Changes
It is estimated that social media is a futuristic approach because people are gaining access to it. According to the research conducted by social marketer in 2013, it is revealed that almost ninety one percent of business utilizes social media marketing as a source of promoting their products and services and moving towards in 2014, it is estimated that this percentage will raise by five percent (Fund, 2012). Normally, eighty three percent of organizations use Facebook and fifty three percent organizations uses twitter where as percentage of YouTube users is thirty six. Change can be making if they eliminate informal conduct of social media. Increase in cyber laws will add trust and belief.
Besides above mentioned mediums, the use of MySpace is most common. Majority of businesses that completes a total of eighty one percent are planning to utilize MySpace for business purpose. It is the formal media process that is being running. Further, blogs are another common medium. Blogs continue to be physically powerful part of focus for social media marketers with approximately seventy five percent of corporations involved in it (Patricia, 2012). This indicates that in future they will face a raise in activities. Majority of employees use this medium to present feedbacks about working environment and staff.
- Fund, Daniel. (2012). ‘PepsiCo’s Journey Toward an Ethical and Socially Responsible Culture’. University of New Mexico: Mexico.
- Hofaker, John. (2012). ‘Journal of Interactive Marketing’. Elsevier – Journal of Marketing, 1(12), 1-58.
- Hub Spot (HS). (2010). ‘Global Social Media Marketing’. Retrieved on 2013 from, http://www.ciccorporate.com/download/the-complete-guide-to-global-social-media-marketing.pdf
- Norton, Michael. (2011). ‘The Pepsi Refresh Project: A Thirst for Change’. Harvard Business Review: United States.
- Patricia, J. (2012). ‘Does your klout score determine your value?’ Media Marketing: United States.
- Stelner, Michael. (2012). ‘Social Media Marketing Industry Report: How Marketers Are Using Social Media to Grow Their Businesses’. Retrieved on 2013 form, http://marketingwhitepapers.s3.amazonaws.com/smss09/SocialMediaMarketingIndustryReport.pdf