Social media marketing - MBA Project - International Marketing

Social Media Marketing in an international environment

International Marketing

GSO-MI, NurembergDecember 2013prepared by Anand P. Waindeshkar

and Andrey Kolesnichenko

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Agenda

Introduction & Definition

Types of Social media & Channels

Advantages & Disadvantages of SMM (SWOT)

Past, Present & Future

How does it works - Case study

Conclusion

What is Social Media?

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Social media is best understood as a group of new kinds of online media, which share most or all of the following:

ParticipationSocial media encourages contributions and feedback; blurs the line between media and audience.

OpennessThere are rarely any barriers to accessing, creating and making use of content.

ConversationTraditional media is about “broadcast”, social media is better seen as a two-way conversation.

Community Social media allows communities to form quickly to share common interests.

ConnectednessMost kinds of social media thrive on their connectedness, making use of links to other sites, resources and people.

Social media is a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content.

What is Social Media Marketing?

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Social media marketing (SMM) - is the practice of facilitating a dialogue and sharing content between companies, influencers, prospects and customers, using various online platforms including blogs, professional and social networks, video and photo sharing, wikis, forums and related Web 2.0 technologies.

Social media marketing is marketing using online communities, social networks, blog marketing and more.

“Users are in control – as content consumers, as publishers and as influencers”

Place of SMM in Traditional Marketing

MARKETING

Traditional (old)

Digital (new)

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Billboard Radio TV Print Website Email RSS WidgetsSocialMedia

Content Banners Podcast

Types of Social media & Channels

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Source: McKinsey Report - Social Economy. 2013. McKinsey Report - Social Economy.

Advantages and Disadvantages of SMM - Benefits

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Reaching Audiences Content Distribution. A fast way to distribute content to a wide audience. Communications. Converse directly with customers or potential customers. Crisis Control. Monitor and then quickly react to negative customer experiences. Brand Building. Create a message; repeat and strengthen over networks. Establish Expertise. Share your expertise and knowledge with a large audience.

Discovery Customer Research. Segment customers and explore industry focused networks to learn what

customers want. Industry Research. Learn new trends, tools and other information to help you expand your business Competitor Research. Keep an eye on competitors to see what they are doing. Word-of-mouth Monitoring. Keep tabs on your brand and what people are saying.

Medium Low cost. Involvement in most social networks is free to join and contribute. Speed. Services in the cloud are available anywhere and as soon as you contribute it is

distributed. Viral. Social media is easily shared and distributed iteratively. Mashable. Mix information and social media to make new things or intermix with your own

marketing.

Advantages and Disadvantages of SMM - Negatives

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Time ConsumingWith all these networks, people and tasks, it truly is difficult to keep up.

It's not the perfect marketing solution; here are some considerations...

SpeedSpeed was a benefit, but just as fast as you can get info out and positive reviews can

spread, so can the speed of negative information and opinion.

ViralAnother benefit that can also be a negative. Bad feedback and word-of-mouth can

quickly be passed along.

Change/Loss of network or rise of newMySpace is losing ground, what network could be next; or what next network will grow

and add to your list of responsibilities.

SWOT Analysis of SMM

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• Large market reach or penetration• Build a conversation and converse

with others and build close networking bonds

• Human factor: Your “brand” becomes more human

• Direct contact with audience (almost like face-to-face)

• Engages prospects through customer evangelism

• Ever-changing environment• Reputation Warfare• Time investment and personnel• Pull marketing• KPI’s must be measurable• Lack of privacy• Increase in customer complains

• Reach out for certain groups that traditional media didn’t allow you to

• Developing a following/audience that auto-nurtures itself

• Way for businesses to communicate with their customers

• Quick delivery, branding opportunities, and enhanced marketing opportunities

• Develop applications to interact with target audience, e.g. students

• Competitor is going after the same space or same audience with similar campaign

• Has no solid revenue model• Advertisement on the sites• Account hacking• Employees• Emotion / Irresponsibility• Customer desensitivity

W

TO

S

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Past, Present & Future of Social Media

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Past, Present & Future of Social Media

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Past, Present & Future of Social Media

Present Social Media

PAST:

1) Social Networking 25 Years Ago: CompuServ, Prodigy & The Well

2) The Bridge Between Online Services & The Internet: AOL

3) Social Networking in Web 1.0: GeoCities, Tripod & Yahoo! Groups

PRESENT:

1) Social Networking in Web 2.0: Plaxo & LinkedIn

2) Modern Social Networking: Friendster, MySpace & Facebook

3) Social Networking goes Real Time: Twitter

4) Social Networking is Becoming Mobile: Foursquare and Skout

FUTURE:1) The Social Graph Will

Become Portable2) We Will Form Around

“True” Social Networks3) Privacy Issues Will

Continue to Cause Problems

4) Social Networking Will Become invasive

5) Third-Party Tools Will Embed Social Features in Websites

6) Social Networking (like the web) Will Split Into Layers

7) Social Chaos Will Create New Business Opportunities

8) Facebook Will Not be the Only Dominant Player

Quick Review

Source: http://techcrunch.com/2010/12/05/social-networking-future/

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Social Media Advertising - How does it works??

THE ELEMENTS OF SOCIAL MEDIA ADVERTISING/MARKETING:

1. Social Strategy & Planning2. Matching the Content to Web Demand (Blog development etc.)3. Engagement of the Costumer, prospect & internet user from target

audience (Social Media Campaign Management)4. Staying Ahead of the Curves5. Social Media Analytics & Audits

THE ADD-ON’S:

1. Graphic Designing2. PayPerClick Network Development3. Consulting4. Customize Campaigns

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Ford Social Media - Case Study

http://youtu.be/jLu2wz3bizA

Please follow the link

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Professional Advice

Benefits of Data Sharing

Effective Results will take time

Avoid the conflicts of thoughts

Be careful with the content release

Freedom of Speech

Powerful tool but need to use in Effective way

Here to stay

Conclusion

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1. Andreas M. Kaplan, Michael Haenlein. 2009, Users of the world, unite! The challenges and opportunities of social media. Business horizons, 53, 59-68

2. Demystifying social media | McKinsey & Company . 2013. Demystifying social media | McKinsey & Company . [ONLINE] Available at: http://www.mckinsey.com/insights/marketing_sales/demystifying_social_media.

3. McKinsey Report - Social Economy. 2013. McKinsey Report - Social Economy.4. S.Neti. Social media and its role in marketing, International Journal of

Enterprise Computing and Business Systems, Vol. 1 Issue 2 July 20115. http://www.vsrdjournals.com/MBA/Issue/2012_05_May/Web/3_Nityananda

_Jati_672_Research_Communication_MBA_May_2012.pdf6. http://techcrunch.com7. www.youtube.com

List of sources used:

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Thank you for your attention